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Golden Minerals Co.
Summary
| Project: | Velardena | |
|---|---|---|
| Deposit: | Velardena | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Lead-Zinc | |
| Date: | 4/2/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Active Mining & Production | |
| Report details: | 2-4-2020: Golden Minerals Co. announces a PEA report for its Velardena deposit at the Velardena project. Updated PEA with updated Mineral Resource Estimate. GOLDEN, Colo., April 02, 2020 -- Golden Minerals Company (NYSE American and TSX: AUMN) (“Golden Mi | |
| Resources: | (Resources, M+I): 1.35Mt @ 307g/t Ag, 4.92g/t Au, 1.54% Pb, 1.78% Zn | |
| CP/QP: | [Resources]: Guillermo Dante Ramirez Rodriguez, Leonel Lopez, Randolph Schneiderm Kira Lyn Johnson (Tetra Tech/Coffey Mining Ltd.) | |
| ABSTRACT: | GOLDEN, Colo., April 02, 2020 -- Golden Minerals Company (NYSE American and TSX: AUMN) (“Golden Minerals”, “Golden” or “the Company”) is pleased to announce positive results from the updated Mineral Resource Estimate and Preliminary Economic Assessment (“PEA”) for its Velardeña Properties, a 100%-owned silver and gold project located in Durango State, Mexico. Tetra Tech, an independent engineering company, has prepared the PEA for the Company in accordance with Canadian National Instrument 43-101 “Standards of Disclosure of Mineral Projects” (“NI 43-101”). The PEA assumes prices of $1,324/oz gold, $16.23/oz silver, $0.90/lb lead and $1.25/lb zinc. Preliminary results of the economic analysis are shown in pre-tax U.S. Dollars as highlighted below. The complete PEA will be published on SEDAR within 45 days of this press release. Golden Minerals President and Chief Executive Officer Warren M. Rehn remarked, “The Velardeña mines now present an attractive scenario for a potential restart. The most difficult challenge we previously faced at the Velardeña mines was the low payable gold recovery, a challenge which we believe is solved with the addition of a relatively low-cost bio-oxidation circuit at our existing processing facility. | |
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