- Golden Minerals (AUMN) has launched a drill program at its Rodeo gold and silver project in Durango, Mexico
- The company plans to drill roughly 20 holes to better define high-grade mineralisation at the Rodeo deposit
- It will expand on previous drill programs that tested several gold-quartz veins and breccias with positive results
- Sample materials will also be provided for metallurgical and geotechnical testing
- Golden Minerals (AUMN) up 6.13 per cent and is trading at C$0.47 per share
Golden Minerals (AUMN) has launched a drill program at its Rodeo gold and silver project in Durango, Mexico.
The open pit project sits within a 1,900-hectare claim roughly 80 kilometres west of the company’s Velardeña properties and processing facilities.
Golden Minerals acquired the Rodeo project in the second quarter of 2015, which had already been the subject of several exploration programs under other operators.
These exploration activities, which identified a gold-bearing system exposed at the surface, were followed by Golden Mineral’s own 2,080-metre core drilling program in 2016, leading to the discovery of a mineable open pit with a high-grade resource base.
As part of the current program, the company intends to drill roughly 20 holes to better define high-grade mineralisation at the Rodeo deposit. This will expand on previous drilling campaigns in the area which identified several gold-quartz veins and breccias within the Rodeo low-sulfidation vein system.
These earlier efforts returned significant results, including 28.44 metres at 3.04 grams per tonne of gold and 5.28 grams per tonne of silver, as well as 6.1 metres at 4.7 grams per tonne of gold and 24.04 grams per tonne of silver.
In addition, sample material will be provided for metallurgical and geotechnical testing, which is a significant step towards the future development of the Rodeo project, as outlined in a Preliminary Economic Assessment dated May 28 this year.
Warren Rehn, President and CEO of Golden Minerals, said the project’s location near existing infrastructure puts the company in an advantageous position.
“The proximity of the Rodeo project to our existing processing facilities at Velardeña presents an excellent opportunity to generate significant revenue from Rodeo starting in early 2021.
“We are optimistic that the drilling will improve our confidence in the deposit and enable us to continue to move towards development,” he added.
Golden Minerals (AUMN) is currently up 6.13 per cent and is trading at C$0.47 per share at 9:32am EDT.