Geologia e Exploração de Pilar, a Próxima Mina da ... - ADIMB

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Geologia e Exploração de Pilar, a Próxima Mina da ... - ADIMB

Geologia e Exploração dePilar, a Próxima Mina daYamana Gold no Estadode GoiásSimexmin, 2012Juliano J SouzaManager Exploration – Brownfield Goiás


Cautionary StatementCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This presentation contains “forward-looking statements” within themeaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Except forstatements of historical fact relating to the Company, information contained herein constitutes forward-looking statements, including anyinformation as to the Company’s strategy, plans or future financial or operating performance. Forward-looking statements are characterized bywords such as “plan,” “expect”, “budget”, “target”, “project”, “intend,” “believe”, “anticipate”, “estimate” and other similar words, orstatements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions, assumptions andestimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks anduncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in theforward-looking statements. These factors include the Company’s expectations in connection with the projects and exploration programsdiscussed herein being met, the impact of general business and economic conditions, global liquidity and credit availability on the timing of cashflows and the values of assets and liabilities based on projected future conditions, fluctuating metal prices (such as gold, copper, silver andzinc), currency exchange rates (such as the Brazilian Real, the Chilean Peso and the Argentine Peso versus the United States Dollar), possiblevariations in ore grade or recovery rates, changes in the Company’s hedging program, changes in accounting policies, changes in the Company’scorporate mineral resources, risk related to non-core mine dispositions, changes in project parameters as plans continue to be refined, changesin project development, construction, production and commissioning time frames, risk related to joint venture operations, the possibility ofproject cost overruns or unanticipated costs and expenses, higher prices for fuel, steel, power, labour and other consumables contributing tohigher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes inmine life, final pricing for concentrate sales, unanticipated results of future studies, seasonality and unanticipated weather changes, costs andtiming of the development of new deposits, success of exploration activities, permitting time lines, government regulation of mining operations,environmental risks, unanticipated reclamation expenses, title disputes or claims, limitations on insurance coverage and timing and possibleoutcome of pending litigation and labour disputes, as well as those risk factors discussed or referred to in the Company’s annual Management’sDiscussion and Analysis and Annual Information Form for the year ended December 31, 2010 filed with the securities regulatory authorities in allprovinces of Canada and available at www.sedar.com, and the Company’s Annual Report on Form 40-F filed with the United States Securitiesand Exchange Commission. Although the Company has attempted to identify important factors that could cause actual actions, events or resultsto differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not tobe anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual resultsand future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forwardlookingstatements if circumstances or management’s estimates, assumptions or opinions should change, except as required by applicablelaw. The reader is cautioned not to place undue reliance on forward-looking statements. The forward-looking information contained herein ispresented for the purpose of assisting investors in understanding the Company’s expected financial and operational performance and results asat and for the periods ended on the dates presented in the Company’s plans and objectives and may not be appropriate for other purposes.2


Operating in Stable JurisdictionsMercedesMEXICOErnesto / Pau-a-PiqueEl PeñónLavra VelhaBRAZILJacobinaChapadaC1 Santa LuzFazenda BrasileiroPilarArco SulMinera FloridaCHILEAlumbrera (12.5%)GualcamayoARGENTINAProductionDevelopmentExploration3


Mineral Resources Growth(in millions GEO)


Global Position - 2012CompaniesGuidance1st Barrick Gold 7.5502nd Newmont 5.1003rd Anglogold Ashanti 4.3504th Goldfields 3.6005th Kinross 2.7006th Goldcorp 2.6007th Newcrest 2.4908th NAVOI MMC 2.1389th Harmony Gold 2.00010th Polyus Gold 1.70011th Yamana Gold 1.25012th Freeport McMoran 1.20013th Agnico-Eagle 91314th IAMGold 87515th Eldorado Gold 75316th Centerra Gold 660Top 16 Producers Total (koz) 39.879CompaniesGuidance1st Goldcorp 4002nd Eldorado Gold 4403rd Yamana Gold 4584th Centerra Gold 4835th Barrick Gold 5406th Newmont 6507th IAMGold 6838th Kinross 6939th Agnico-Eagle 72010th Anglogold Ashanti 79311th Goldfields 86012th Harmony Gold 87313th Freeport McMoran 014th Polyus Gold 015th Newcrest 016th NAVOI MMC 0Cost Average (US$/oz) 528


GEO Production Growth Set to Continue


Exploration• Mineral Reserves increased 11%• 4 discoveries made by Yamana between 2005-2006 fuel production growth- Mercedes, Pilar, EPAP and C1 Santa Luz• El Peñón- Discovery of near surface portion of PAV• Chapada- Discovery of Corpo Sul and Suruca• Gualcamayo- Discovery of potential QDDLW extension to the southwest and remains open downdip• Jacobina- 20% mineral reserve increase with 10% in grades- 5th year of consecutive mineral reserve increase• New projects identified in Brazil & Chile- Initial resource estimate expected in 2012 on at least one projectAverage discovery cost of $25-$30 per oz


2012 Exploration ProgramTOTAL YAMANA• Budget: US$125.0 M• Drilling:375K• Jurisdictions:• Chile: 43%• Brazil: 33%• Argentina: 11%• Mexico: 8%BRAZIL• Budget: US$ 39M• Drilling: 131K• Employers: 465• Geologist: 5214%32%17%27%RegionalRecconAdvanced Projects8%3%Advanced GreenfieldOverheadNear Mine8


Pilar ProjectGarimposFacilities ExplorationDrillingMine


LocationBrasilia: 330 KmGoiania: 240 KmChapada: 70 Km


SettingCRIXAS MINECrixasGBGuarinos GBGoiás Magmatic ArcSystemCAIAMARPilar GBCHAPADAGoiás Central Block(aloctonous)PILAR/JORDINOMARIA LAZARA50 KMGreenstone Belts (GB) – Archean to PaleoProterozoicMagmatic Arc – 850 to 600 Ma• Archean/PaleoproterozoicGreenstone Belts (Pilar and Guarinos)terrains (590 sq Km) with several goldoccurrences• Thick exhalative sequence withmassive sulfide levels, hugehydrothermal alteration halo andsignificant widespread gold anomaliesindicating a strong hydrothermalsystem.• Emerging orogenic gold district withCrixas (Anglo Gold >5Moz) , Pilar (2.5Moz) , Caiamar (0.25Moz) and otherpromising early stage targets (MariaLazara).• 65,000 has of exploration groundcontrolled by Yamana


History1736 : Gold was firstly discovered by fugitives slaves1741: Gold “re-discovered” by a portuguese expedition that was lookingfor the fugitives slaves – foundation of Pilar de Goias1754 : Four thousand people living based on gold mining in Pilar1800’s: Declining of gold cicle : economy shift to agriculture1972 : First exploration works by Mineradora Montita1982 : Gold rush in the area by “Garimpeiros”1984: BHP/Montita tried restart exploration – no sucess1989: Declining of “Garimpos” : Inco/Montita restarted explorationworks, which were suspended in following year1990-2005 : Few exploration works conducted by Montita (Total historicaldrilling 5,000m)


HistoryJune 2006: Project acquired from Montita Ltda.Aug. 2006: Exploration CommencedFeb. 2008: Snowden completes first inferred resource estimate:9.8MT @ 2.8 g/t Au for a total of 889k ouncesApril 2009: Snowden completes updated inferred resourceestimate: 65% increase YOY to 1.46M ouncesOct. 2009: Exploration ramp commencedAug. 2010: First probable reserve estimate at Jordino:8.87MT @ 4.01 g/t Au for a total of 1.14M ouncesJan. 2012: Resource update, inferred increases by 617,000ounces.


Geology and Mineralization-6 kilometer strikeSectionMineralization- 3 main levels:- HG1: hosted on trust shear zone on the contactbetween Chlorite-Sericite Schist (CLS) andGraphite Schist – gold mostly associated withAsPy- HG2 and HG3: hosted in quartz veining insidethe CLS package – mostly free visible goldassociated with Py-Two main structural controls: low angle thrustand late WSW plunging folds that control thehigher grade ore shoots14


Geology and Mineralization


16Geology and MineralizationHG1- HG1: AsPy + Po + free gold in quartzveinsHG2- HG2: Po + Py + free gold inquartz vein


Geology and MineralizationSWCross SectionNEHG2 and HG3HG1Plan view


Pilar Mine – HG1 Orebory


19Pilar Mine – HG2 Orebory


20Pilar Mine – HG2 Orebory• Quartz veins with sulfide content (Py, Po and +/- AsPy) and free gold


21Pilar -Reserves & ResourcesGold Proven Reserves Probable ReservesTonnes Grade Contained Tonnes Grade ContainedTarget(000's) (g/t) oz. (000's) (000's) (g/t) oz. (000'sPilar - - - 11,098 4.03 1,439GoldMeasured/Indicated Resources Inferred ResourcesTonnes Grade Contained Tonnes Grade ContainedTarget(000's) (g/t) oz. (000's) (000's) (g/t) oz. (000'sPilar 1,094 4.51 159 6,785 4.19 915$900 Au; 2.0 g/t Au cut-off


Potential GrowingSWCross SectionNEPlan viewJD-364JD-387: 0.61m @ 4.72 g/t Au (1,136m)0.5m @ 4.58 g/t Au (830m) – HG21.0m @ 3.49 g/t Au (840m) –HG2Incl. 0.6m @ 6.20 g/t Au (840m)0.62m @ 2.78 g/t Au (849.38m) – HG1


Au KozsBudget and Drilling2006 2007 2008 2009 2010 2011 SUBTOTAL 2012P TOTALBudget (USD) 1,202,006 4,350,007 10,386,848 21,234,624 10,192,000 7,909,995 55,275,480 7,825,373 63,100,853Drilling (Meters) 4,793 14,698 23,462 37,868 38,881 42,174 161,876 33,000 194,8763.0002.5002.0001.5001.000500InfM&IP&P02006 2007 2008 2009 2010 2011Discovery Cost of $25/oz


Caiamar ProjectExploration OfficeDrillingShaftDrift


Caiamar - History1740-1820: Portuguese Garimpos1982: Inco Company began the Exploration works (Geological map, Drilling ,…)1990: Mineração Serra Formosa (MSF) bought rights exploration of Inco and beganthe shaft and drift excavationDecember 2008: Yamana’s Exploration was Due Diligence with mapping andsampling of driftMarch 2009: Yamana entered an agreement with MSFApril 2009: Drilling StartedDecember 2010: First Resource – 34,800 meters of DrillingMay 2012: Ongoing Feasibility study, drilling and decline excavation


26Caiamar - Geology and Mineralization• Deposit located at the north portion of GuarinosGreenstone Belt• Mineralization strongly controlled by structures• Hydraulic breccias very rich in AsPy (up to 10%)• Higher grades associated with Quartz-FeldsparPorphyry• Most of those rocks are not or weak deformed• Most of the mineralization are controlled by earlierductile structures but are fragile (stock work)• Package of greywackes intercalated withcarbonaceous schist and amphibolites (metabasalts)intruded by late feldspar porphyry


27Caiamar - Geology and MineralizationMineralization


28Caiamar - Geology and Mineralization


29Caiamar - Geology and Mineralization


Caiamar- Geology and Mineralization• Quart-Feldspar Porphyry is classified by Syenite• Anomalies: Au, Sb, As, S and Na• Mineralization associated to late (or Pos-tectonic)


Caiamar - ResourcesIndicated ResourcesInferred ResourcesCut-off (g/t) Tonnes Grade (g/t) Gold (Oz) Tonnes Grade (g/t) Gold (Oz)1.0 853 4.15 114 1,650,000 3.0 1601.5 703 4.76 108 1,380,000 3.3 1502.0 561 5.52 100 1,120,000 3.7 1302.5 474 6.13 93 900 4.1 1203.0 437 6.41 90 590 4.8 91


Pilar Mine – Development• Production Start: Mid 2013• Strategic Life: 9 Yrs• Production: 140,000-150,000 Oz/yrs• Capex: US$ 178M• IRR:23.6% (gold price US$1,100)• Total Cash Cost/oz: 438.42• Recovery plant: 95%• Physical advancement: ~35%• Mine method: Room Pilar - Long Hole• Plant: Gravimetric + CIL


Pilar MineObrigado!

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