- Golden Minerals (AUMN) says it has intersected “excellent” gold and silver grades at its Yoquivo Project in Chihuahua, Mexico
- The current drill program covers 15 holes and 34-hundred metres
- The project covers a large vein system with limited historic production
- Golden has identified four separate vein systems in which surface sampling has yielded positive results
- Golden Minerals is down 7.70 per cent on the day, with shares trading at C$0.61 at 3:04 p.m. EST
Golden Minerals (AUMN) says it has intersected “excellent” gold and silver grades at its Yoquivo Project in Chihuahua, Mexico.
The company has received its assay results from its recent 34-hundred metre, 15-hole drill campaign at the project.
The project covers a large, low-sulfidation epithermal vein system with limited historic production.
Golden has identified four separate vein systems in which surface sampling has returned grades up to 4,050 grams of silver per tonne of material and 27.7 grams of gold per tonne from surface.
“These excellent drill results from Yoquivo highlight its potential to host economic gold-silver mineralization. This recent drilling has identified multiple veins with potentially economic gold-silver grades, including a newly discovered vein without previous historic mining within our district scale property holdings. We plan to follow with a second phase drill program which could start in the next few months,” said Golden Minerals President and CEO Warren Rehn.
Golden holds an option to purchase seven concessions that comprise the Yoquivo property, totalling 1,974.8 hectares located in western Chihuahua State in northern Mexico, for payments totalling $0.75 million over four years.
That agreement is subject to a two per cent net smelter return (NSR) royalty on production capped at $2 million.
Golden Minerals is down 7.70 per cent on the day, with shares trading at C$0.61 at 3:04 p.m. EST.