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Yamana Gold increases Jacobina mine reserves by 8.6% to 2.3 million ounces

Yamana Gold Inc. said that an updated reserves estimate for its Jacobina gold mine in Brazil supports annual gold production of more than 170,000 ounces after the completion of the first phase of an expansion, and further supports the phase-two expansion targeting annual production exceeding 225,000 ounces.

The company said Sept. 5 that gold contained in reserves increased by 8.6% while the grade increased by 2.6%, as compared to an estimate completed at the end of 2018.

Jacobina hosts proven and probable reserves containing 2.3 million ounces of gold within 29.6 million tonnes grading 2.40 g/t.

Yamana Gold reported resources separately, with measured and indicated resources estimated to contain 3.3 million ounces within 41.9 million tonnes grading 2.45 g/t, and inferred resources containing 995,000 ounces within 12 million tonnes grading 2.58 g/t.

The update incorporated depletion from production over the first six months of the year as well as data from infill drilling, and used cutoff grades ranging from 1.12 g/t to 1.30 g/t for reserves, with resources estimated at a cutoff of 1.0 g/t.

The company expects further infill drilling to result in improved grades for measured and indicated resources by the end of the year.

It said the phase-one expansion remains ahead of schedule, with a pre-feasibility study on the phase-two expansion expected to be completed in the first quarter of 2020.

As of June, Jacobina was expected to produce 152,000 ounces of gold in 2019.