Golden Minerals Company (“Golden Minerals”, “Golden” or the
“Company”) (NYSE-A: AUMN and TSX: AUMN) is pleased to announce
assay results from 25 recently completed reverse circulation (“RC”)
drill holes at its Rodeo gold-silver mine located in Durango State,
Mexico.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20211019005240/en/
Rodeo Project RC Drilling Results,
October 2021 (Photo: Business Wire)
The company has drilled 47 RC holes totaling 3,187m, focusing on
resource expansion and exploration of several targets located
adjacent to the open pit. The reverse circulation drilling was
completed in early October.
Highlights from the initial RC holes include:
- RRC_021_018 returned 18m grading 2.3 g/t Au and 5 g/t Ag within
54m grading 1.0 g/t Au and 5 g/t Ag
- RRC_021_020 returned 8m grading 2.4 g/t Au and 16 g/t Au within
26m grading 1.7 g/t Au and 12 g/t Ag
- RRC_021_021 returned 24m grading 2.2 g/t Au and 18 g/t Ag
within 56m grading 1.3 g/t Au and 17 g/t Ag
- RRC_021_022 returned 8m grading 3.9 g/t Au and 5 g/t Ag within
56m grading 1.0 g/t Au and 4 g/t Ag
- RRC_021_025 returned 18m grading 2.9 g/t Au and 11 g/t Ag
within 52m grading 1.3 g/t Au and 6 g/t Ag
Drilling has intersected several wide zones of disseminated gold
mineralization and has identified several additional high-grade
zones that appear to be hosted in a series of silicified structures
running parallel to the high-grade gold zones currently being
exploited. The mineralization in these new zones is very similar to
the material currently being mined and consists of highly
silicified epithermal veins and breccias hosted in felsic volcanic
rocks.
Warren Rehn, President and Chief Executive Officer of Golden
Minerals, commented, "The initial RC drill results are very
positive. The gold-bearing intervals expand on the known zones of
mill-grade gold mineralization to the south of the current pit and
indicate that there is strong potential for Rodeo to host
additional profitable tonnage, at current prices, to the south and
west of the current pit.”
See attached image: Completed RC drill holes, Rodeo Gold Mine,
Durango
Significant results are summarized in the table below, with
complete results available on the Company website. [link]
Hole_ID From To
Interval Au_g/t
Ag_g/t RRC_021_001
14
28
14
0.58
2.2
RRC_021_002 No significant results RRC_021_003 No significant
results RRC_021_004
24
74
50
0.69
23.2
including
48
54
6
1.41
27.8
RRC_021_005
48
68
20
1.01
34.9
including
66
68
2
2.73
66.3
RRC_021_006
-
4
4
0.92
10.2
RRC_021_007 No significant results RRC_021_008
32
64
32
0.59
1.3
including
36
46
10
1.01
2.0
RRC_021_009
30
44
14
0.87
3.1
RRC_021_010
-
36
36
0.93
3.1
including
-
8
8
2.15
2.0
RRC_021_011
6
51
45
0.77
8.9
including
8
18
10
1.20
3.5
including
42
48
6
1.34
24.3
RRC_021_012
12
64
52
0.98
9.1
including
12
28
16
1.89
7.8
RRC_021_013
10
84
74
0.77
18.2
including
10
34
24
1.14
6.4
RRC_021_014
4
66
62
0.76
10.2
including
18
36
18
1.05
5.0
including
46
56
10
1.17
22.9
RRC_021_015
2
22
20
0.77
6.4
including
4
18
14
1.00
7.0
RRC_021_016
-
40
40
1.09
17.4
including
8
30
22
1.67
22.9
RRC_021_017
-
12
12
1.12
7.8
&
32
75
43
0.55
19.6
RRC_021_018
-
54
54
1.00
4.7
including
2
20
18
2.33
4.6
RRC_021_019
4
46
42
0.82
2.7
including
14
20
6
1.43
2.6
RRC_021_020
28
54
26
1.67
12.1
including
30
38
8
2.02
14.0
including
44
52
8
2.35
15.9
RRC_021_021
-
56
56
1.28
16.5
including
-
24
24
2.17
17.9
RRC_021_022
-
56
56
1.00
4.4
including
10
18
8
3.92
4.6
RRC_021_023
14
62
48
0.56
6.0
including
22
54
32
0.65
6.0
RRC_021_024
10
54
44
0.67
3.1
including
28
32
4
1.56
4.1
RRC_021_025
8
60
52
1.33
6.0
including
16
34
18
2.90
11.0
Note: Intervals in the table represent drilled length. It is
expected that true thickness is approximately 80% of drilled length
as drill holes were drilled perpendicular to the gold
mineralization that dips at approximately 25 degrees to the
northeast. Intervals and grades have been rounded to either one or
two decimal places.
About Rodeo
Rodeo is a gold-silver open pit mine located in Durango State,
Mexico. Production began in January 2021, with material being
trucked to the Company’s oxide mill at the Velardeña Properties
located around 115 kilometers away via road. Rodeo’s current
expected life per the terms of an independently prepared, NI
43-101-compliant Preliminary Economic Assessment (April 2020) is
2.5 years.
Review by Qualified Person and Quality Control
The technical contents of this press release have been reviewed
by Matthew Booth, a Qualified Person for the purposes of NI 43-101.
Mr. Booth has over 17 years of mineral exploration experience and
is a Qualified Person member of the American Institute of
Professional Geologists (CPG 12044).
To ensure reliable sample results, Golden Minerals uses a
quality assurance/quality control program that monitors the chain
of custody of samples and includes the insertion of blanks,
duplicates, and reference standards in each batch of samples.
Quality Assurance / Quality Control
RC drilling was conducted with a Prospector W750 articulated
carrier mounted RC drill rig provided by Major Drilling. Holes were
drilled at an azimuth of 240° or 60o and a dip ranging from -45o to
-60°. Drill holes were drilled to depths ranging FROM 36m to 108m.
No water was encountered during drilling. Holes were positioned
with a hand-held GPS (accuracy +/- 5 meters) and later surveyed
with a Differential GPS once the hole was competed. Sampling was
conducted from the drill rig cyclone at 2-meter drill intervals.
Each 2-meter sample was riffle split to approximately 6 kilograms
samples for assay. RC chips were logged at the drill rig and a
small, 100g sample was collected and logged and stored in
chip-trays onsite.
Drill-core, reverse circulation drill chips and rock samples
were shipped to ALS Chemex sample preparation facility in
Chihuahua, Chihuahua, Mexico for sample preparation and for
analysis at the ALS laboratory in North Vancouver. The ALS
Chihuahua and North Vancouver facilities are ISO 9001 and ISO/IEC
17025 certified. ALS Global in North Vancouver, British Columbia,
Canada, is a facility certified as ISO 9001:2008 and accredited to
ISO/IEC 17025:2005 from the Standards Council of Canada.
The samples were crushed to 70% passing 2mm (PREP-31) and a
split of up to 250 grams pulverized to 85% passing 75 micrometres
(-200 mesh). The sample pulps and crushed splits were transferred
internally to ALS Global’s North Vancouver, Canada analytical
facility for gold and multi-element analysis. Pulps (30gram split)
are submitted for Au analysis by Fire Assay with Atomic Absorption
finish (Au-AA23) and silver samples were analyzed by an atomic
absorption (Ag-AA45).
Over-limit Au and Ag samples are analyzed by Fire Assay with
Gravimetric Finish Ore Grade (Au-GRA22 and Ag-GRA21). Overlimit
base metals are analyzed by Four Acid Digestion followed by Ore
Grade Inductively Coupled Plasma Atomic Emission Spectrometry
(ICP-AES) for Cu, Pb and Zn (Cu-OG62, Pb-OG62, Zn-OG62).
In-house quality control samples (blanks, standards, duplicates,
preparation duplicates) were inserted into the sample set by Golden
Minerals. ALS Global conducts its own internal QA/QC program of
blanks, standards and duplicates, and the results were provided
with the Company sample certificates. The results of the ALS
control samples were reviewed by Golden Minerals and the Company’s
QP and evaluated for acceptable tolerances.
All sample and pulp rejects are stored at the Company’s secure
warehouse in Velardeña, Durango pending full review of the
analytical data, and future selection of pulps for independent
third-party check analyses, if required.
About Golden Minerals
Golden Minerals is a growing gold and silver producer based in
Golden, Colorado. The Company is primarily focused on producing
gold and silver from its Rodeo Mine and advancing its Velardeña
Properties in Mexico and, through partner funded exploration, its
El Quevar silver property in Argentina, as well as acquiring and
advancing selected mining properties in Mexico, Nevada and
Argentina.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended, and applicable Canadian securities legislation, including
statements regarding the Company’s expectations for the additional
high-grade zones of disseminated gold mineralization that the
Company has identified at Rodeo, estimates of true thickness of the
gold mineralization at previous drill holes, and anticipated
potential for Rodeo to host additional profitable tonnage. These
statements are subject to risks and uncertainties, including the
reasonability of the economic assumptions at the basis of the
results of the Rodeo project Preliminary Economic Assessment and
technical report; changes in interpretations of geological,
geostatistical, metallurgical, mining or processing information;
and interpretations of the information resulting from exploration,
analysis or mining and processing experience. Golden Minerals
assumes no obligation to update this information. Additional risks
relating to Golden Minerals may be found in the periodic and
current reports filed with the SEC by Golden Minerals, including
the Company’s Annual Report on Form 10-K for the year ended
December 31, 2020.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211019005240/en/
For additional information please visit
http://www.goldenminerals.com/ or contact: Golden Minerals Company
Karen Winkler, Director of Investor Relations (303) 839-5060
Golden Minerals (TSX:AUMN)
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