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Golden Minerals Co.
Summary
| Project: | Santa Maria | |
|---|---|---|
| Deposit: | Santa Maria | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 10/3/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-10-2018: Golden Minerals Co. announces a PEA report for its Santa Maria deposit at the Santa Maria project. PEA results incl. post-tax NPV of $10.6M (5%), IRR of 159.0%, 4.2yr LOM at the project. GOLDEN, Co., Oct. 03, 2018 -- Golden Minerals Company (“G | |
| Resources: | ||
| CP/QP: | [Resources]: Dante Ramirez, Leonel Lopez (Tetra Tech/Coffey Mining Ltd.) | |
| ABSTRACT: | GOLDEN, Co., Oct. 03, 2018 -- Golden Minerals Company (“Golden Minerals”, “Golden” or “the Company”) (NYSE American and TSX: AUMN) today reported results from a second Preliminary Economic Assessment (“PEA”) completed for its Santa Maria silver and gold project located in southern Chihuahua State, Mexico. The PEA presents an updated assessment and incorporates data accumulated since March 2017. It includes an additional 77 hectares of mineral tenure acquired in August 2017 that cover the on-strike and downdip extensions of the Santa Maria vein systems. It also incorporates information from a 22-hole, 4,800-meter drilling program completed in 2018. The new PEA shows significant improvement in projected cash flow, metal production and profitability compared to the previous study. Additionally, the PEA includes an updated National Instrument 43-101 (“NI 43-101”) compliant mineral Resource Estimate dated as of September 14, 2018. Warren M. Rehn, President and Chief Executive Officer of Golden Minerals Company, comments, “The Santa Maria project offers Golden Minerals a low capital cost re-entry into potential silver production in Mexico. Estimated future cash flow and NPV have increased by about 50% based on the additional resources in the study. The $1M start-up cost is at the lowest end of the spectrum of capital cost requirements due to the project’s proximity to existing process facilities and the existing underground development. It is also important to point out that the deposit is open at depth and there are numerous additional veins on the property that have not yet been drilled.” | |
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