Golden Minerals Commences Reverse Circulation Drill Program; Drills 13.9m Grading 2.9 g/t Au at Rodeo Gold-Silver Mine
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G O L D E N M I N E R A L S C O M P A N Y
350 Indiana Street – Suite 650 – Golden, Colorado 80401 – Telephone (303) 839-5060
Golden Minerals Commences Reverse Circulation Drill Program; Drills
13.9m Grading 2.9 g/t Au at Rodeo Gold-Silver Mine
GOLDEN, CO - /BUSINESS WIRE/ - September 16, 2021 – Golden Minerals Company (“Golden Minerals”, “Golden” or
the “Company”) (NYSE-A: AUMN and TSX: AUMN) is pleased to announce additional assay results from 20 recently
completed diamond drill holes and to announce it has commenced a reverse circulation drill program focusing on
resource definition at its Rodeo gold-silver mine located in Durango State, Mexico.
The reverse circulation program is being conducted by Major Drilling and will c onsist of 35 drill holes totaling
approximately 2,500 meters. The program is designed to expand on the high-grade resource currently being mined
and to drill several exploration targets located adjacent to the open pit. The reverse circulation drilling is expected
to be completed in September.
The Company has reported assay results from an additional 20 holes, totaling 1,253 meters, from the ongoing
diamond drilling program that is exploring for the continuation of Au-Ag mineralization to the north of the current
mining area. Drilling has intersect ed several wide zones of disseminated gold mineralization and h as identif ied
several additional high-grade zones that appear to be hosted in a series of silicified structures running parallel to the
high-grade gold zones currently being mined. Highlights of the new assay results include:
RDO_21_028
• 78.7m grading 1.06 g/t Au and 10.1 g/t Ag
• Including 13.9m grading 2.88 g/t Au and 4.3 g/t Ag
RDO_021_022
• 70.0m grading 0.56 g/t Au and 6.0 g/t Ag
• Including 14.2m grading 1.07 g/t Au and 14.8 g/t Ag
RDO_021_018
• 64.4m grading 0.85 g/t Au and 8.6 g/t Ag
RDO_021_011A
• 26.0m grading 0.82 g/t Au and 6.5 g/t Ag
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G O L D E N M I N E R A L S C O M P A N Y
350 Indiana Street – Suite 650 – Golden, Colorado 80401 – Telephone (303) 839-5060
Figure 1: Diamond drill-hole locations, Rodeo Project
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G O L D E N M I N E R A L S C O M P A N Y
350 Indiana Street – Suite 650 – Golden, Colorado 80401 – Telephone (303) 839-5060
Significant results are summarized in the table below, with complete results available on the Company website. [link]
Note: Intervals in the table represent drilled length. It is expected that true thickness is approximately 80% of drilled
length because drill holes were oriented approximately perpendicular to the gold mineralization that dips at about
25 degrees to the northeast. Estimated true widths range from 70% to 90% of drilled widths depending on dip of the
vein and inclination of the hole. Intervals and grades have been rounded to either one or two decimal places.
Hole ID From To Interval Au (g/t) Ag (g/t)
RDO_021_011
RDO_021_011A 21.3 47.3 26.0 0.82 6.5
including 21.3 26.9 5.6 1.71 6.4
including 46.8 47.3 0.6 5.65 77.9
RDO_021_012 24.0 40.8 16.8 0.74 7.1
including 35.8 40.8 5.1 1.43 16.6
RDO_021_013 27.2 27.7 0.5 1.04 6.2
RDO_021_014
RDO_021_014B
RDO_021_015 59.2 59.7 0.5 1.15 1.5
RDO_021_016 29.2 30.8 1.6 1.00 3.1
RDO_021_017 24.5 53.6 29.1 0.58 6.0
including 43.7 45.8 2.2 1.04 10.2
including 51.1 53.6 2.6 1.97 26.1
RDO_021_018 0.0 64.4 64.4 0.85 8.6
including 0.0 4.5 4.5 2.39 1.9
including 0.0 1.6 1.6 5.81 2.1
including 34.3 53.9 19.6 1.07 14.4
including 45.6 52.6 7.0 1.51 21.3
RDO_021_019 23.5 24.9 1.4 1.16 16.3
RDO_021_019 43.2 44.6 1.4 1.14 27.4
RDO_021_020 3.0 49.9 47.0 0.58 2.9
Including 3.0 8.3 5.3 1.22 3.2
Including 35.9 42.1 6.2 1.21 3.8
RDO_021_021 9.7 37.2 27.5 0.64 2.2
Including 10.2 13.8 3.7 2.79 3.1
RDO_021_022 0.0 70.0 70.0 0.56 6.0
Including 0.0 10.2 10.2 1.00 3.2
Including 55.8 70.0 14.2 1.07 14.8
RDO_021_023
RDO_021_024 1.5 33.1 31.6 0.39 1.2
Including 1.5 11.2 9.7 0.62 1.5
RDO_021_025
RDO_021_026
RDO_021_027 18.9 19.9 1.0 2.66 9.6
RDO_021_028 0.0 78.7 78.7 1.06 10.1
Including 0.0 13.9 13.9 2.88 4.3
RDO_021_029 9.4 44.0 34.6 0.73 4.5
Including 23.0 34.0 11.0 1.25 7.3
No Significant Results
Hole lost before reaching target depth
Hole lost before reaching target depth
No Significant Results
No Significant Results
No Significant Results
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G O L D E N M I N E R A L S C O M P A N Y
350 Indiana Street – Suite 650 – Golden, Colorado 80401 – Telephone (303) 839-5060
Warren Rehn, President and Chi ef Executive Officer of Golden Minerals, commented, " The diamond drilling
continues to intersect gold-rich zones adjacent to and north of the current pit. The mineralized parallel structures
east and west of the pit will be tested further with the reverse circulation drilling. We expect to complete the drill
program in September and should have all results in hand early in Q4. I anticipate that increases to the mineral
inventory will be incorporated into the mine plan later this year.”
About Rodeo
Rodeo is a gold -silver open pit mine located in Durango State, Mexico. Production began in January 2021, with
material being trucked to the Company’s oxide mill at the Velardeña Properties located around 115 kilometers
away via road. Rodeo’s current expect ed life per the terms of an independently prepared, NI 43 -101-compliant
Preliminary Economic Assessment (April 2020) is 2.5 years.
Cautionary Note to United States Investors Regarding Estimates of Indicated Mineral
Resources
This press release uses the terms "mineral resources" and "indicated mineral resources" which are defined in, and
required to be disclosed by, Canadian National Instrument NI 43 -101 (“NI 43-101”). We advise U.S. investors that
these terms are not recognized under SEC Industry Guide 7. Accordingly, the disclosures regarding mineralization in
this news release may not be comparable to similar information disclosed by Golden Minerals in the reports it files
with the SEC. The estimation of measured resources and indicated resources involves greater uncertainty as to their
existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned
not to assume that any or all mineral resources are economically or legally mineable or that these mineral resources
will ever be converted into mineral reserves. In addition, the SEC normally only permits issuers to report
mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in -place tonnage and grade
without reference to unit amounts. U.S. investors are urged to consider closely the disclosure in our Form 10-K for
the year ended December 31, 2020 and other SEC filings.
Review by Qualified Person and Quality Control
The technical contents of this press release have been reviewed by Matthew Booth, a Qualified Person for the
purposes of NI 43 -101. Mr. Booth has over 17 years of mineral exploration experience and is a Qualified Person
member of the American Institute of Professional Geologists (CPG 12044).
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 s amples are direct-shipped to an ISO 9001:2001 certified
laboratory in Canada.
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G O L D E N M I N E R A L S C O M P A N Y
350 Indiana Street – Suite 650 – Golden, Colorado 80401 – Telephone (303) 839-5060
About Golden Minerals
Golden Minerals is a growing gold and silver producer based in Golden, Colorado. The Company is primarily focused
on producing gold and silver from its Ro deo Mine and advancing its Velardeña Properties in Mexico and, through
partner funded exploration, its El Quevar silver property in Argentina, as well as acquiring and advancing selected
mining properties in Mexico, Nevada and Argentina.
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 regarding the Company’s plans and expected timeline for the reverse
circulation drill program at the Rodeo Mine, estimates of true widths of the gold mineralization at previous drill
holes, anticipated increases to the Com pany’s mineral inventory, and the expected life of the Rodeo Mine . These
statements are subject to risks and uncertainties, including the reasonability of the economic assumptions at the
basis of the results of the Rodeo project Preliminary Economic Assess ment and technical report; changes in
interpretations of geological, geostatistical, metallurgical, mining or processing information; and interpretations of
the information resulting from exploration, analysis or mining and processing experience. 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 SEC by Golden Minerals, including the Company’s Annual Report on Form 10-K for
the year ended December 31, 2020.
For additional information please visit http://www.goldenminerals.com/ or contact:
Golden Minerals Company
Karen Winkler, Director of Investor Relations
(303) 839-5060
SOURCE: Golden Minerals Company