Welcome!

News Feed Item

Golden Minerals Reports High-Grade Gold Drill Intersections

GOLDEN, Colo., Feb. 27, 2014 /PRNewswire/ -- Golden Minerals Company (NYSE MKT: AUMN; TSX: AUM) ("Golden Minerals" or "the Company") has recently received assay results from eight drill holes totaling 1,490 meters from drilling at its Los Azules exploration project located in southern Chihuahua, Mexico.

(Photo: http://photos.prnewswire.com/prnh/20140227/LA74083)

(Logo: http://photos.prnewswire.com/prnh/20120803/LA52082LOGO)

Significant results include 2.0 meters assaying 8.2 g/t (grams per tonne) gold, 1.0 meters assaying 35.2 g/t gold, 0.9 meters assaying 11.1 g/t gold and 0.5 meters assaying 10.5 g/t gold.

A table of selected results follows.  All drill results are available on the Golden Minerals website at www.goldenminerals.com.

Hole No.

From (meters)

To (meters)

Drill Width (meters)

True Width (meters)

Au  (g/t)

Ag  (g/t)

Pb  (%)

Zn (%)

AZ13-05

125.87

126.40

0.53

0.41

1.40

9

0.13

0.30

AZ13-06

124.82

125.72

0.50

0.43

10.47

28

1.50

2.91

AZ14-07

155.77

157.32

1.55

1.27

1.06

29

1.24

1.20

AZ14-08

141.85

143.83

1.98

1.71

8.20

60

1.42

1.52

AZ14-09

149.95

151.20

1.25

1.13

3.24

34

1.12

2.01

AZ14-10A

159.50

160.38

0.88

0.67

11.10

43

1.19

3.03

AZ14-11

116.25

118.30

2.05

1.78

6.84

42

1.30

1.93

AZ14-12

142.00

143.00

1.00

0.71

35.20

22

0.18

0.92

The Los Azules property is located approximately 20 kilometers west of San Francisco de Oro in southernmost Chihuahua, Mexico and about 45 kilometers west of Hidalgo del  Parral.  Los Azules hosts a 2-kilometer, north-south trending and gold-bearing epithermal quartz vein system cutting Tertiary felsic volcanic rocks and a felsic hypabyssal stock.  In the nearby San Francisco de Oro district, veins and replacements are hosted in the Cretaceous Parral Formation clastics and carbonates which underlie the volcanic rocks at the Los Azules project and are exposed in the northern portion of the claim block.  Although the Company has not yet intersected the Parral formation, management expects it to be a favorable host for mineralization at depth.  Historic mining on the vein system at Los Azules reportedly produced 500,000 tonnes of gold ore averaging 11 g/t gold (Servicio Geologico Mexicano, p. 411 of Monografia Geologico-Minero del Estado de Chihuahua).  Historic mining exploited oxide portions of the vein system above the elevation of our current access drifts.

Golden Minerals holds 233 hectares of concessions in the Los Azules property through its wholly‑owned Mexican subsidiary Minera de Cordilleras, S. De R.L. de C.V under a purchase option agreement.   The purchase agreement requires a series of option payments over a four-year period totaling $2.0 million, with $0.1 million required during each of the first and second years and a 5 percent net smelter return royalty, half of which may be repurchased for $1.0 million.

In the fourth quarter 2013, Golden Minerals began drilling at the Los Azules property as part of a planned 2,000-meter drill program to test down dip targets on the previously mined vein system.  Drill holes were collared both underground and at surface in this program.  As part of the drill program, Golden Minerals rehabilitated about 650 meters of underground drifts, and the Company continues these rehabilitation efforts to access the northern portion of the vein system which depicts better widths and higher silver grades in surface sampling.  

The initial drill program (costing $0.6 million) has been completed, and based upon results to date, the Company has authorized an additional $1.1 million for drilling focused on definition of a target gold and silver resource within the first 250 vertical meters along the strike of the vein beneath the historic mined areas.

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 Society for Mining Metallurgy and Exploration.

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 efforts to create a new mining and processing plan for its Velardena Properties, the advancement of its El Quevar advanced exploration property in Argentina, and the exploration of properties in Argentina and Mexico.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act and applicable Canadian securities legislation, including statements regarding the exploration results and programs at the Los Azules project, including potential exploration activities, anticipated further drilling activities, and interpretations of drilling or underground rehabilitation or drilling results of infill drilling.  These statements are subject to risks and uncertainties, including results of exploration including potential additional drilling at Los Azules; changes in geological, geostatistical and other interpretations of the information from drill programs; unfavorable interpretations of geologic information; availability of drills; unexpected variations in mineral grade, types and metallurgy; fluctuations in relevant metal prices; technical and permitting issues; increases in cost or other problems that might negatively affect the Company in conducting potential drilling and exploration activities and otherwise advancing the Los Azules project; and financial market conditions.  Golden Minerals Company assumes no obligation to update this information.  Additional risks relating to Golden Minerals Company may be found in the periodic and current reports filed with the Securities Exchange Commission by Golden Minerals Company, including the Company's Annual Report on Form 10-K for the year ended December 31, 2012.

For additional information please visit http://www.goldenminerals.com/ or contact:

Golden Minerals Company
Karen Winkler
(303) 839-5060
Director of Investor Relations

SOURCE Golden Minerals Company

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Ixia (Nasdaq: XXIA) has announced that NoviFlow Inc.has deployed IxNetwork® to validate the company’s designs and accelerate the delivery of its proven, reliable products. Based in Montréal, NoviFlow Inc. supports network carriers, hyperscale data center operators, and enterprises seeking greater network control and flexibility, network scalability, and the capacity to handle extremely large numbers of flows, while maintaining maximum network performance. To meet these requirements, NoviFlow in...
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...