Golden Minerals Acquires Navegantes Silver Exploration Project
Golden Minerals Acquires Navegantes Silver Exploration Project
GOLDEN, Colo., Nov. 15, 2018 -- Golden Minerals Company (NYSE American and TSX: AUMN) (“Golden Minerals”, “Golden”
or “the Company”) is pleased to announce it has acquired the Navegantes project in southern Chihuahua state, Mexico, where
recent surface and underground sampling have returned high-grade silver values from a series of epithermal silver-base metal
veins outcropping on the property.
Navegantes sampling highlights :
• 1 meter (“m”) assaying 1,585.5 g/t Ag
• 1.45m assaying 759.2 g/t Ag
• 1.1m assaying 638.9 g/t Ag
• 2.1m assaying 472 g/t Ag
The project consists of six concessions totaling 521 hectares and is located approximately 60km northwest of the San
Francisco del Oro-Santa Barbara District where the company’s Santa Maria project is located. Initial sampling and mapping
have identified extensive zones of oxidized and leached epithermal quartz veining over an 800m strike length that has delivered
high silver grades.
A photo (Figure 1: Navegantes project location) accompanying this announcement is available
at: http://www.globenewswire.com/NewsRoom/AttachmentNg/d3fa796c-98b8-4e1a-aade-09ad5f4bd773
Figure 1, “Navegantes project location”, may also be viewed here: http://www.goldenminerals.com/drill_testing.php
Mr. Warren Rehn, President and Chief Executive Officer of Golden Minerals, said; “Navegantes is an exciting prospect that
hasn’t been systematically explored even though it is located in an area of several modern major discoveries. We were
pleasantly surprised by the high-grade surface silver assays from heavily weathered and leached veins outcropping on the
surface.
“This project was identified by our generative exploration team that is searching for under-explored projects in central Mexico
to allow the company to add high-quality, early-stage projects that can be advanced quickly to create value for our
shareholders.”
A photo (Figure 2: Major mines and development projects close to the Navegantes project) accompanying this
announcement is available at: http://www.globenewswire.com/NewsRoom/AttachmentNg/f3575a85-1f34-45cb-b60b-
49335b05d9e4
Figure 2, “Major mines and development projects close to the Navegantes project”, may also be viewed
here: http://www.goldenminerals.com/drill_testing.php
The mineralization occurs as iron oxides, within quartz veins that range up to 2m in width and are exposed over strike lengths
in excess of 800m. Based on historic mines and prospects in the San Francisco del Oro-Santa Barbara and Hidalgo de Parral
districts, we believe there exists excellent potential to define significant silver mineralization at depth.
Golden Minerals collected 103 surface and underground chip channel and grab samples from vein exposures, mine workings
and mine dumps. Results from this initial sampling program are summarized in Table 1, with surface sample results shown in
Figure 3.
Table 1: Results from the 2018 Navegantes sampling program
Channel ID Vein Width (m) Ag (g/t) Pb (ppm) Zn (ppm)
NAV_U_01 San Pedro 1.5 14 74 339
NAV_U_02 San Pedro 1.3 6 33 221
NAV_U_03 San Pedro 1.2 8 25 145
NAV_U_04 San Pedro 2.5 73 28 157
NAV_U_05 San Pedro 0.8 519 1739 328
NAV_U_06 San Pedro 1.1 352 1055 1295
NAV_U_07 San Pedro 1.2 178 113 706
NAV_U_08 San Pedro 1.0 1586 70 175
Inc. San Pedro 0.7 1965 69 189
NAV_U_09 San Pedro 1.5 759 69 79
Inc. San Pedro 0.4 1600 72 79
Nav_01 San Pedro 1.3 85 15804 1055
Nav_02 San Pedro 2.2 16 125 133
Nav_03 Navegantes 2.1 472 22 199
Inc. Navegantes 0.9 608 15 200
Nav_04 Navegantes 2.0 201 837 421
Inc. Navegantes 1.0 268 655 186
Nav_05 Navegantes 1.5 37 103 95
Nav_06 Navegantes 1.4 261 28 218
Inc. Navegantes 0.6 406 33 261
Nav_07 Navegantes 1.4 48 257 223
Nav_08 Navegantes 1.5 73 851 179
Nav_09 Navegantes 1.7 14 325 384
Nav_10 San Pedro 1.1 639 31 104
Inc. San Pedro 0.6 1135 43 165
Nav-16 Dump Sample 197 7690 687
Nav-17 Dump Sample 205 5270 522
Nav-18 Dump Sample 438 4030 458
Nav-19 Dump Sample 606 2160 355
Nav-20 Dump Sample 951 4870 446
Nav-21 Dump Sample 475 469 251
Nav-31 Dump Sample 358 22 209
Nav-52 Dump Sample 285 2180 637
Nav-53 Dump Sample 211 944 386
Nav-51 New vein 0.3 134 1920 165
Nav-61 New vein 0.9 268 28 147
SP-1 San Pedro 0.9 278 26 159
Complete results are available on the Golden Minerals website at http://goldenminerals.com/drill_testing.php, as are more
detailed surface maps.
A photo (Figure 3: Navegantes sample locations and silver assays) accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/95c1b611-aa49-42c2-9526-78a49e4ab7ed
Figure 3, “Navegantes sample locations and silver assays”, may also be viewed here:
http://www.goldenminerals.com/drill_testing.php
Next Steps
Golden is currently conducting additional mapping and sampling on the property to identify prospective targets for follow-up
testing by trenching and/or drilling.
About Navegantes
Golden Minerals holds an option to purchase six concessions totaling 521 hectares by paying $0.4M over three years. The
property is located in southwestern Chihuahua state, in northern Mexico. The project covers two vein systems (Navegantes
and San Pedro-San Francisco) as well as a number of smaller subsidiary veins. The property is located 68km northwest of
Grupo Mexico’s Santa Barbara operation (6,000 tonnes per day) and 63km northwest of Frisco’s San Francisco Mine (4,000
tonnes per day). The project is also 61km south of Sunshine Mining’s Los Gatos project. The Navegantes property covers an
underexplored epithermal precious silver-base metal district that shows similar mineralization to the adjacent Parral Mining
District. The Company, through systematic exploration, hopes to identify significant high-grade mineralization.
Review by Qualified Person and Quality Control
The technical contents of this press release have been reviewed by Warren M. Rehn, M.Sc., a Qualified Person for the
purposes of Canadian National Instrument 43‐101. Mr. Rehn has over 33 years of mineral exploration experience and is a QP
member of the Mining and Metallurgical Society of America.
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. Core
is photographed and sawn in half with one half retained in a secured facility for verification purposes. Sample preparation
(crushing and pulverizing) is performed at an independent ISO 9001:2001 certified laboratory in Chihuahua or Zacatecas,
Mexico. Prepared samples are direct‐shipped to an ISO 9001:2001 certified laboratory in Canada.
About Golden Minerals
Golden Minerals is a Delaware corporation based in Golden, Colorado. The Company is primarily focused on advancing its El
Quevar silver property in Argentina and on acquiring and advancing mining properties in Mexico with emphasis on areas near
its Velardeña processing plants.
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 relating to the Company’s plans for systematic exploration of the Navegantes claims and the
possibility of identifying significant high-grade mineralization. These statements are subject to risks and uncertainties,
including changes in interpretations of geological, geostatistical, metallurgical, mining or processing information and
interpretations of the information resulting from future exploration, analysis or mining and processing experience, new
information from exploration or analysis, unexpected variations in mineral grades, types and metallurgy, fluctuations in silver
metal prices, increases in costs and declines in general economic conditions, and changes in political conditions, in tax,
royalty, environmental and other laws in Mexico, and financial market conditions. 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 Securities and Exchange Commission by Golden Minerals, including the Company’s Annual Report on Form 10 ‐K for the
year ended December 31, 2017.
Karen Winkler
Director of Investor Relations
(303) 764-9170
SOURCE: Golden Minerals Company