Yamana Gold boosts reserves and resources of yellow metal
(Kitco News) - Yamana Gold (TSX:YRI; NYSE:AUY; LSE:AUY) announced Thursday that its total proven and probable gold mineral reserves increased by 10%, from 12,501 koz as at December 31, 2019 to 13,803 koz as at December 31, 2020.
Measured and indicated resources increased by 7%, from 13,691 koz in 2019 to 14,604 koz in 2020. Inferred resources increased by 18%, from 13,342 koz in 2019 to 15,714 koz in 2020.
The company said that at Canadian Malartic, an optimized design of the Barnat pit resulted in an increase in gold mineral reserves, which significantly reduced depletion resulting from production. In addition, on a 100% basis, the overall underground project at Canadian Malartic has increased to more than 14,000 koz of gold mineral resources, of which approximately 7,300 koz are included in a preliminary economic assessment completed in February 2021.
Yamana is a Canadian-based precious metals producer with significant gold and silver production, development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina.