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Golden Minerals Co.
Summary
| Project: | Santa Maria | |
|---|---|---|
| Deposit: | Santa Maria | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Lead-Zinc | |
| Date: | 4/30/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-4-2018: Golden Minerals Co. announces an Exploration/Drilling Update report for its Santa Maria deposit at the Santa Maria project. Drilling results incl. 8.2m @ 1094g/t Ag, 3.64g/t Au, 0.41% Pb, 0.92% Zn from 135.7m. GOLDEN, Colo., April 30, 2018 -- G | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Warren M. Rehn (Internal) | |
| ABSTRACT: | GOLDEN, Colo., April 30, 2018 -- Golden Minerals Company (“Golden Minerals”, “Golden” or “the Company”) (NYSE American:AUMN) (TSX:AUMN) has released final results from the 22-hole 4800-meter drilling program conducted at its Santa Maria property located in Santa Barbara, Chihuahua State, Mexico since August 2017. Golden Minerals began an expansion drilling program in August 2017 at its Santa Maria gold and silver property located west of Parral in Chihuahua State, Mexico. The Company recently expanded the claim package adding 77 hectares and more than doubling the strike distance coverage on the Santa Maria vein to about one kilometer total. The current drill program was initiated by the Company with the goal of expanding the existing resource to improve the overall economics reported in the Preliminary Economic Assessment (“PEA”) published in March 2017. The Company has received assays for all 22 holes drilled. The recent drilling encountered oxidized vein material to much greater depths in the eastern part of the Santa Maria vein system than in the western part. The oxidized portion of the eastern vein system is preserved due to normal faulting and postmineral basalt cover. In addition to the previously known Santa Maria vein and the hanging wall vein, Santa Maria 2, a breccia vein labelled NE breccia was encountered in some of the drill holes (see table of results). Metallurgical test-work on the oxide material is yet to be completed. The Company plans to update the resource model and the PEA based on the new drill results and the new metallurgical studies once those are available. Golden’s President and Chief Executive Officer, Warren M. Rehn, notes, “The weighted average of silver grades of the intervals reported here is higher than the previously reported silver grade of the mineral resource at Santa Maria. We expect an improvement in the overall mineral resource and of the economics of the project because of this. We will update the resource and the PEA as expeditiously as possible.” | |
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