Golden Minerals Drills 6.2m Grading 17.19 g/t Au and 2,403.5 g/t Ag at Yoquivo
Golden Minerals Drills 6.2m Grading 17.19 g/t Au and 2,403.5 g/t Ag at
Yoquivo
GOLDEN, Colo.--(BUSINESS WIRE)--February 16, 2022--Golden Minerals Company
(“Golden Minerals”, “Golden” or the “Company”) (NYSE-A: AUMN and TSX: AUMN) is
pleased to report a second set of assays from the recently completed 21-hole drill program at its
Yoquivo gold-silver project in northwest Chihuahua state, Mexico. Highlights from the drilling
include:
6.2m @ 17.19 g/t Au and 2,403.5 g/t Ag
2.4m @ 3.90 g/t Au and 328.0 g/t Ag
0.7m @ 3.40 g/t Au and 12.6 g/t Ag
0.6m @ 0.52 g/t Au and 130.0 g/t Ag
The drill program included 3,949m comprised of 21 holes exploring the Pertenencia, Esperanza
and Dolar vein systems. Drill holes were designed to follow up on the high-grade zones
intersected by the Company’s 2020 drill program and to explore additional veins to identify new
high-grade zones. The Company reported results from the first five holes of the program on
January 27, 2022 [link]. This second set of results covers an additional nine holes. Golden is
currently awaiting assay results for the last seven holes.
Significant results and drill-hole locations are summarized in the tables below, with complete
results available on the Company website. [link]
Hole ID From (m) To (m) Interval (m) True width (m) Au g/t Ag g/t Target
YQ_021_006 64.8 70.9 6.2 5.1 17.19 2403.5 Pertenencia Vein
including 64.8 66.7 2.0 1.6 50.40 6989.6 Pertenencia Vein
including 65.2 65.5 0.4 0.3 188.50 21447.0 Pertenencia Vein
YQ_021_007 74.3 75.0 0.7 0.6 3.40 12.6 Pertenencia Vein
YQ_021_008 118.1 119.6 1.5 1.1 1.80 2.6 Dolar Vein
YQ_021_009 163.6 164.7 1.1 0.6 0.18 20.4 Dolar Vein
YQ_021_010 122.8 124.0 1.2 1.0 0.85 6.7 Esperanza Vein
YQ_021_011 42.6 42.9 0.3 0.2 1.20 155.0 Dolar Vein
YQ_021_012 54.0 54.5 0.5 0.3 0.74 105.0 Dolar Vein
YQ_021_012 58.7 59.2 0.6 0.3 0.52 130.0 Dolar Vein
YQ_021_012 92.7 95.1 2.4 1.0 3.90 328.0 Dolar Dos Vein
including 93.1 94.1 1.0 0.4 9.23 763.0 Dolar Dos Vein
YQ_021_013 182.5 183.7 1.2 0.7 0.69 19.1 Dolar Vein
YQ_021_014 137.4 138.3 1.0 0.8 0.24 75.7 Esperanza HW Vein
Hole ID Easting Northing Elevation Azimuth Dip Length
YQ_021_006 791263 3104873 2020 300 -45 123
YQ_021_007 791264 3104873 2021 300 -70 171
YQ_021_008 789773 3106013 2270 140 -45 228
YQ_021_009 789773 3106013 2270 140 -60 210
YQ_021_010 789000 3106534 2228 270 -45 201
YQ_021_011 789780 3105939 2278 180 -45 150
YQ_021_012 789780 3105940 2278 180 -65 120
YQ_021_013 789772 3106013 2270 160 -65 225
YQ_021_014 789001 3106535 2228 270 -67 291
Coordinates are in WGS84 datum, zone 12N
Hole YQ_021_006, which cut the highest grade interval to date, was drilled to explore the
southern continuation of the mineralization intersected by hole YQ_20_001 (1.3m grading 5.69
g/t Au and 223 g/t Ag (link)), which was drilled to explore the down-dip continuation of the
Pertenencia Vein below the historic mine workings.
Five holes were drilled to explore the Dolar Vein system below the historic Dolar Mine
workings, where surface mapping and sampling has defined a series of NE-trending quartz veins
over a two-kilometer strike length. Each hole intersected multiple quartz and calcite veins, zones
and breccias hosted in altered and silicified andesites characteristic of the other low sulphidation
epithermal veins found within the Yoquivo mining district.
The Company has also recovered drill core from a 2007 program completed by West Timmins
Mining in which West Timmins Mining drilled 2,470.75m in 8 holes. Golden Minerals’
geologists are currently relogging and resampling the drill core and will incorporate this data into
the Golden Minerals database.
“This second set of drill results from Yoquivo continues to show high grades from the
Pertenencia vein and the high-grade zone is open to the south,” said Warren Rehn, President and
Chief Executive Officer of Golden Minerals. “We are also encouraged to see strong gold and
silver mineralization from some of the first holes drilled on the Dolar Vein system. Results to
date clearly indicate the presence of economic grades on several veins in this multi-vein system.”
About Yoquivo
Golden holds an option to purchase seven concessions that comprise the Yoquivo property,
totaling 1,974.8 hectares located in western Chihuahua State in northern Mexico, for payments
totaling $0.75 million over four years and subject to a 2% net smelter return royalty on
production, capped at $2 million. The claims cover an underexplored epithermal precious metals
district that shows similar mineralization to the adjacent Ocampo mining district, and 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 Matthew Booth, a Qualified
Person for the purposes of NI 43-101. Mr. Booth has over 18 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.
Quality Assurance / Quality Control
Diamond drilling was conducted by Eco Drilling México S. de R.L. de C.V with a Cortech CSD
1300G rig. Drill holes were drilled to depths ranging from 102m to 351m and were drilled at
azimuths of 140° or 310° and a dip ranging from -45° to -75°. No water was encountered during
drilling. Holes were positioned with a hand-held GPS (accuracy +/- 5 meters) and later surveyed
with a Differential GPS once the drilling campaign was completed.
Samples of the core were obtained using a diamond saw to cut the core in half, retaining one half
for a permanent core record, and the other sent for analysis.
Drill-core samples were shipped to ALS Chemex sample preparation facility in Chihuahua,
Chihuahua, Mexico for sample preparation and for analysis at the ALS laboratory in North
Vancouver, British Columbia, Canada. The ALS Chihuahua and North Vancouver facilities are
ISO 9001 and ISO/IEC 17025 certified. ALS Global in North Vancouver is a facility certified as
ISO 9001:2008 and accredited to ISO/IEC 17025:2005 from the Standards Council of Canada.
Samples were crushed to 70% passing 2mm (PREP-31) with a split of up to 250 grams
pulverized to 85% passing 75 micrometers (-200 mesh). The sample pulps and crushed splits
were transferred internally to ALS Global’s North Vancouver analytical facility for gold and
multi-element analysis. Pulps (30 gram split) are submitted for Au analysis by fire assay with
atomic absorption finish (Au-AA23) and silver samples were analyzed by atomic absorption
(Ag-AA45).
Over-limit Au (>10.0 g/t Au) and Ag (>1500 g/t Ag) samples are analyzed by fire assay with
gravimetric finish (Au-GRA22 and Ag-GRA21). Over-limit base metal samples (>10,000 ppm
or 1%) are re-analyzed inductively coupled plasma atomic emission spectrometry using
protocols for higher grade results (ICP-AES) for Cu, Pb and Zn (Cu-OG62, Pb-OG62, Zn-
OG62).
In-house quality control samples (blanks, standards, duplicates, preparation duplicates) were
inserted into the sample set by Golden Minerals. ALS Global conducts its own internal QA/QC
program of blanks, standards and duplicates, and the results were provided with the Company
sample certificates. The results of the ALS control samples were reviewed by Golden Minerals
and the Company’s QP and evaluated for acceptable tolerances.
All sample and pulp rejects are stored at the Company’s secure warehouse in Velardeña,
Durango pending full review of the analytical data, and future selection of pulps for independent
third-party check analyses, if required.
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 Rodeo 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
anticipated additional assay results from the Yoquivo drill program, the potential for the Yoquivo
property to host economic grades, , and the Company’s plans to update the Golden Minerals data
base with results from the relogging and resampling of the drill core from the 2007 West
Timmins program. 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 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.
Contacts
For additional information please visit http://www.goldenminerals.com/ or contact:
Golden Minerals Company
Karen Winkler, Director of Investor Relations
(303) 839-5060