Summary:
The Wasamac property is located approximately 15 km west-southwest of Rouyn-Noranda, Quebec, Canada, in Beauchastel Township, within the central portion of the Abitibi gold mining district. The property consists of three mining concessions covering 757.65 ha and eleven mining claims covering 391.68 ha for a total area of 1,149.33 ha in Beauchastel Township.
Prior to the acquisition by Agnico Eagle, Yamana outlined that positive infill and exploration drilling results to date indicate the potential for a strategic mine life of 10 to 15 years at 200,000 to 250,000 ounces of gold per year.
The Wasamac property is subject to a 2021 Feasibility Study with highlights of:
- Sustained gold production of approximately 200,000 ounces per year for at least the first four years following ramp up.
- Average life of mine gold production of 169,000 ounces per year over an initial 10-year mine life.
- Average throughput of 7,000 tonnes per day (“tpd”) with infrastructure designed at nameplate capacity of 7,500 tpd, presenting production upside.
- Robust economics including NPV of $470 million and after-tax IRR of 24% at $1,850 gold with life of mine cash costs and all-in sustaining costs of $640/oz and $828/oz.
- Strategic location: Mine infrastructure to be located on newly acquired land next to the Trans-Canada highway and 200 metres from the railway leading to all the main custom milling facilities.
- Strong exploration potential: Deposit largely underexplored at depth and along strike.
Interest: 1.5% NSR Royalty (Buyback right of 0.5% for C$7.5 million is retained by owner of the property)
Location: Rouyn-Noranda, Quebec
Project Status: Development
Counterparty: Agnico Eagle Mines (TSX: AEM)
