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
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Many private cloud projects were built to deliver self-service access to development and test resources. While those clouds delivered faster access to resources, they lacked visibility, control and security needed for production deployments. In their session at 18th Cloud Expo, Steve Anderson, Product Manager at BMC Software, and Rick Lefort, Principal Technical Marketing Consultant at BMC Software, discussed how a cloud designed for production operations not only helps accelerate developer in...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Venafi has extended the power of its platform in an easy-to-use utility for DevOps teams available for immediate download. Now DevOps teams can eliminate the hassle of acquiring and installing TLS keys and certificates. Instead, customers can focus on speeding up continuous development and deployment, while security teams have complete visibility and can keep the DevOps environment secure and compliant to protect customer data. Extending the Venafi Trust Protection Platform requires only a singl...
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 competitive landscape of the global cloud computing market in the healthcare industry is crowded due to the presence of a large number of players. The large number of participants has led to the fragmented nature of the market. Some of the major players operating in the global cloud computing market in the healthcare industry are Cisco Systems Inc., Carestream Health Inc., Carecloud Corp., AGFA Healthcare, IBM Corp., Cleardata Networks, Merge Healthcare Inc., Microsoft Corp., Intel Corp., an...
The best-practices for building IoT applications with Go Code that attendees can use to build their own IoT applications. In his session at @ThingsExpo, Indraneel Mitra, Senior Solutions Architect & Technology Evangelist at Cognizant, provided valuable information and resources for both novice and experienced developers on how to get started with IoT and Golang in a day. He also provided information on how to use Intel Arduino Kit, Go Robotics API and AWS IoT stack to build an application tha...
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, discussed the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filterin...
Cloud analytics is dramatically altering business intelligence. Some businesses will capitalize on these promising new technologies and gain key insights that’ll help them gain competitive advantage. And others won’t. Whether you’re a business leader, an IT manager, or an analyst, we want to help you and the people you need to influence with a free copy of “Cloud Analytics for Dummies,” the essential guide to this explosive new space for business intelligence.
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
Early adopters of IoT viewed it mainly as a different term for machine-to-machine connectivity or M2M. This is understandable since a prerequisite for any IoT solution is the ability to collect and aggregate device data, which is most often presented in a dashboard. The problem is that viewing data in a dashboard requires a human to interpret the results and take manual action, which doesn’t scale to the needs of IoT.
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA. This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...