Yamana Gold achieves first gold and silver production at Cerro Moro Mine

A Canadian-based gold producer has announced this week that it has achieved first gold and silver production at its Argentinian mine project/

Yamana Gold announced in a statement this week that it had achieved first gold and silver production at its Cerro Moro Mine, located in Santa Cruz, Argentina.

The company also released an operational outlook for the project, which indicated a production guidance of 85,000 oz of gold and 3.75 million oz of silver for 2018.

Moving forward, Yamana’s guidance shows an increased target for production, with 125,000 oz of gold and 6 million oz of silver in 2019 and a further increase to 130,000 oz (silver) and 8.3 million oz (gold) for 2020.

The Cerro Moro project is a gold-silver operation that began feeding ore into a 1,000 tonne per day processing plant earlier this year, with the expectation that it will ramp up over the second quarter of 2018.

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The property contains a number of high-grade epithermal gold and silver veins, which are expected to be mined by a combination of open pit and underground mining.  Cerro Moro is expected to produce 85,000 ounces of gold and 3.75 million ounces of silver in 2018.  The medium-term target is production of 130,000 ounces of gold and 7.0 million ounces of silver per year – which Yamana looks on course to meet.