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Golden Minerals Co.
Summary
| Project: | El Quevar | |
|---|---|---|
| Deposit: | El Quevar | |
| Location: | Argentina | |
| Commodities: | Silver | |
| Date: | 9/5/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-9-2018: Golden Minerals Co. announces a PEA report for its El Quevar deposit at the El Quevar project. PEA results incl. post-tax NPV of US $44.9M (5%), IRR of 17.0%, 6yr LOM at the project. GOLDEN, Colo., Sept. 05, 2018 -- Golden Minerals Company (“Gol | |
| Resources: | (Resource): 2.93Mt @ 482g/t Ag for 45.3Moz Ag (Ind.), 0.31Mt @ 417g/t Ag for 4.1Moz Ag (Inf.) | |
| CP/QP: | [Resources]: Gordon Seibel (Wood Plc) | |
| ABSTRACT: | GOLDEN, Colo., Sept. 05, 2018 -- Golden Minerals Company (“Golden Minerals”, “Golden” or “the Company”) (NYSE American and TSX: AUMN) has announced positive results from the Preliminary Economic Assessment (“PEA”) for its 100%- controlled El Quevar silver project located in Salta Province, Argentina. “We are very pleased with the results of this PEA, as the report confirms the potential for a profitable mining operation at El Quevar’s Yaxtché deposit, with annual production of around 5 million oz. silver. We also see substantial opportunity to expand the size of the known resource and therefore improve the overall mine life economics. While the PEA considers only the Yaxtché deposit as outlined in the February 2018 resource estimate, the Yaxtché deposit is still open for potential expansion on strike at both ends, and Golden Minerals has identified numerous prospective targets that lie outside the current resource area but within the larger 57,000-hectare property. We believe we have an excellent opportunity to further enhance the scale and economic significance of the El Quevar project through additional exploration,” notes Warren M. Rehn, President and Chief Executive Officer of Golden Minerals Company. Amec Foster Wheeler E&C Services, Inc., a Wood company (“Wood”), an independent engineering company, has prepared the technical report for Golden Minerals Company on the results of the PEA compiled in accordance with Canadian National Instrument 43-101 “Standards of Disclosure for Mineral Projects” (“NI 43-101”). The economic model was assembled by Samuel Engineering, based on capital and operating cost estimates from John E. Thompson LLC and Samuel Engineering. The full technical report will be filed on SEDAR within 45 days of this press release. | |
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