Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Yamana Gold Inc. (AUY) Issues Exploration Update on South American Properties

|Includes: Yamana Gold Inc. (AUY)

Yamana Gold Inc. issued an update on its exploration activities at five of its South American mining properties where the company is prospecting for gold.

Expanding exploration efforts at the Mercedes Project, Yamana Gold Inc. has achieved successful results at the Lagunas and Diluvio zones. The Mercedes Project is under construction and first production from the project is expected in 2012.

Yamana Gold Inc. is in the process of permitting the Pilar Project, a gold mining operation located in Goias, Brazil. The company has found three mineralized areas here and expects production to begin in 2013.

Yamana Gold Inc. also operates the Fazenda Brasileiro mine, located in Brazil. The mine currently produces as much as 80,000 ounces of gold annually, and the company recently confirmed the expansion of the Lagoa do Gato and CLX2 deposit zones at the site.

Yamana Gold Inc. owns the El Penon mine and produces approximately 400,000 ounces of gold annually from this mine. The company recently discovered the Pampa Augusta Victoria gold vein near this mining operation.

Yamana Gold Inc. also owns the Jacobina mining operation located in Brazil. Jacobina produces approximately 100,000 ounces of gold annually. The company recently found more extensive mineralization at the Canavieras and Morro do Vento zones.

For more information on the company, go to

Please see disclaimer on QualityStocks website:

Disclosure: no positions