Brazil - C1 Santa Luz
C1 Santa Luz is a development stage gold project in Brazil on the Rio Itapicuru Greenstone Belt (RIGB), with positive results received from its initial feasibility study.
Location
The C1 Santa Luz property is located near Maria Preta in Brazil, approximately 60 kilometres north of the Fazenda Brasileiro mine.
Project Status
Development
Start up construction approved with targeted production in 2010
Type of Operation
Open pit
Proven and Probable Reserves
(at December 31, 2007)
17,272,000 tonnes at 1.66 grams/tonne gold = 920,000 ounces gold
Measured and Indicated Resources
(exclusive of Reserves)
24,038,000 at 1.43 grams/tonne gold = 1,103,000 ounces gold
Inferred Resources
4,638,000 tonnes at 1.40 grams/tonne gold = 208,000 ounces gold
Expected Mine Life
10+ years
Expected Annual Production
100,000+/- ounces
C1 Santa Luz is the most advanced targets on the Company's 180,000 hectares of mineral claims on the Rio Itapicuru Greenstone Belt, and is located near Maria Preta which was a series of open pit heap leach operations. C1 is a breccia-hosted gold deposit that dips downward at 35-55 degrees.
In December 2005, the Company announced the results of a Phase 1 scoping study, which included an open pit probable reserve containing 556,000 ounces of gold. The purpose of the study was to provide an initial economic assessment of the project and assess the merits of undertaking a formal feasibility study. The results were positive and the Company is continuing to assess the development of the project as a stand alone mine.
Yamana has completed an initial feasibility study for C1 Santa Luz and has received start up construction approval. Target production is expected to be 100,000 ounces of gold per year. The first full year of production is planned to commence in early 2010.
The Company is continuing to drill on the project and believes that it can add to the current resource base, assisting in improved project economics as exploration potential appears excellent.
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