Yamana's Paraguayan exploration program update.SPOKANE, Wash.--(BUSINESS WIRE)--Dec. 24, 1996--Yamana Resources Inc (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). YRI YRI Yum Restaurants International (Dallas, TX) YRI Yaw Rate Indicator (aviation) YRI You Recall Incorrectly (chat) .) Yamana Resources announces that it is initiating work at its Paraguari and Concepcion concessions in Paraguay, following the termination of the recently concluded program at the Missiones concession. Yamana has delineated a 15-square kilometer area of interest within the 500-square kilometer Paraguari concession, located about 100 kilometers south of Asuncion. Orientation sampling in 1995 identified five gold anomalies in streams and soils. These anomalies appear to be related to a series of diatremes (breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. pipes) associated with one of the world's largest alkalic rock complexes. The strongest anomaly is manifested by stream-sediment pan concentrate values of up to 14.4 g/t Au, with visible gold. Follow-up work on this and other anomalies at Paraguari has been underway since the first week of November. Exploration in this jungle terrain is heavily reliant on the results of hand auger auger (ô`gər): see drill. auger Tool (or bit) used with a carpenter's brace for drilling holes, usually in wood. It looks like a corkscrew and produces extremely clean holes, almost regardless of how large the bit is. soil sampling penetrating to depths of seven meters. A grid is being cut over the prospect for control of geologic mapping, magnetometer and soil-sample surveys. Initial analytical results are expected in January 1997. Airborne reconnaissance of the 50,000 hectare Concepcion concession was conducted in mid-November, providing geologists with structural geologic definition and access information on the Loma Pora, Estancia es·tan·cia n. A large estate or cattle ranch in Spanish America. [Spanish, room, enclosure, country estate, from Vulgar Latin *stantia, something standing, from Latin de Oro and Pyapy target areas. Initial ground work is scheduled to follow up a gold anomaly in February, two kilometers south of Estancia de Oro. Yamana is examining joint-venture options with interested companies concerning its Concepcion base metal (Pb/Zn/Co/F) model, located in the 250-square kilometer limestone terrain between Loma Pora and Pyapy. The Company expects to conduct field visits for these parties in conjunction with a planned reconnaissance, scheduled for February 1997. Yamana has completed extensive exploration work on its Missiones concession. More than 2,000 samples were collected and analyzed, including soil and rock samples, as well as samples gathered from 117 hand auger holes, 500 meters of back-hoe trenching and from 7 rotary drill holes totaling 338 meters. The program failed to identify the source of particle gold anomalies in the lateritic lat·er·ite n. A red residual soil in humid tropical and subtropical regions that is leached of soluble minerals, aluminum hydroxides, and silica but still contains concentrations of iron oxides and iron hydroxides. soils. Supergene su·per·gene n. A group of closely linked genes occupying a large chromosomal segment and frequently functioning as a genetic unit. enrichment of the gold at the water table is suspected. Assay results were not encouraging and the program has been discontinued. Yamana Resources is a Canadian exploration company currently holding 65 properties covering 32,000 square kilometers in Argentina, Chile, Paraguay and Indonesia. This includes 27,000 square kilometers on the island of Kalimantan, Indonesia where the Company holds extensive areas near the Busang gold deposit. Finalization of a recently announced agreement in principle concerning properties in Papua New Guinea Papua New Guinea (păp`  ə, –y would increase Yamana's interests to cover 75 properties totaling 34,300 square kilometers. CAUTIONARY STATEMENT This News Release includes certain "forward-looking statements" within the meaning of Section 21E of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. and reserves, exploration results, and future plans and objectives of Yamana, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Yamana's expectations are disclosed under the heading "Risk Factors" and elsewhere in Yamana's documents filed from time to time with The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. , the United States Securities and Exchange Commission and other regulatory authorities. All subsequent written and oral forward-looking statements attributable to Yamana or persons acting on its behalf are expressly qualified in their entirety by this notice. CONTACT: Yamana Resources Inc. Greg W. Taylor, 509/838-6615 509/838-0714 (FAX) http://www.yamana.com |
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