Welcome!

News Feed Item

Golden Minerals Announces Acquisition Of Santa Maria Mine In Mexico And Drill Results From Los Azules

GOLDEN, Colo., Aug. 12, 2014 /PRNewswire/ -- Golden Minerals Company ("Golden Minerals" or the "Company") (NYSE MKT:  AUMN) (TSX:  AUM) is pleased to announce it has signed a contract to acquire the Santa Maria mine, a privately held property near the Parral District of southern Chihuahua State, Mexico located approximately 20 kilometers from the Company's Los Azules project. Separately, the Company has released results of additional drilling at the Los Azules exploration property.

Golden Minerals Company News Release Logo.

The Santa Maria mine hosts the Santa Maria silver (Ag) and gold (Au) bearing quartz vein cutting Cretaceous calcareous sedimentary rock that has produced historically on a small scale from a 2.1 meter wide epithermal vein.  The vein is accessed by a three meter by three meter ramp from surface to a depth of approximately 75 meters.  The Company recently completed a project to rehabilitate access to deeper levels of the mine that were previously inaccessible.  Sampling from these levels has yielded encouraging results.  The following table of underground channel sample results represents selected samples from over 370 total channel samples.  Silver equivalents have been calculated at 60:1, silver to gold.

Channel

From

To

Width

(m)

Au ppm

Ag ppm

Ag EQ

ppm

Pb %

Zn %

SM-72

1.0

1.6

0.6

1.1

1020

1088

0.3

0.7

SM-74

1.5

2.4

0.9

3.6

1240

1458

1.2

2.6

SM-74

3.5

5.0

1.5

0.2

352

366

0.1

0.8

SM-77

1.0

2.1

1.1

0.9

734

789

0.4

1.0

SM-78

0.6

1.3

0.7

0.5

568

600

0.9

1.7

SM-90

3.1

3.3

0.3

0.8

340

390

0.5

0.7

SM-100

-

1.0

1.0

1.1

2347

2413

0.6

5.4

SM-100

1.0

2.0

1.0

1.0

3126

3188

0.9

3.6

SM-101

-

1.0

1.0

0.5

427

457

0.2

1.0

SM-101

1.0

2.0

1.0

1.8

1422

1532

1.6

3.7

SM-102

0.8

1.2

0.4

0.9

383

440

0.2

2.3

SM-104

1.4

2.4

1.0

0.5

389

419

0.4

1.5

SM-105

1.6

2.7

1.1

0.4

314

338

0.2

0.5

SM-105

2.7

3.4

0.8

0.4

671

698

0.2

0.3

SM-107

0.7

1.9

1.2

1.4

1403

1490

1.0

1.3

SM-107

1.9

2.2

0.3

2.6

8096

8254

1.8

4.8

SM-113

1.1

1.7

0.6

2.9

743

919

2.1

7.1

SM-116

1.0

2.3

1.3

1.0

419

479

1.9

1.8

SM-116

2.3

3.3

1.0

0.7

527

570

1.1

2.7

Full results from the sampling programs will be posted on Golden Minerals website at www.goldenminerals.com.  

The Santa Maria mine is located approximately 15 kilometers southeast of the city of Santa Barbara and about 20 kilometers southeast of Los Azules.  Historic small scale mining exploited oxide portions of the vein system above the elevation of the current access drifts.  Modern ramp construction to the vein was completed within the last five years.  

Golden Minerals holds the 18 hectares of concessions in the Santa Maria property through its wholly‑owned Mexican subsidiary Minera de Cordilleras, S. De R.L. de C.V under a purchase option agreement.  The agreement calls for payments of US$ 1.6 million over 1.5 years to complete the purchase.  An initial option payment of $35,000 has been made.

The Company plans to initiate a drill program during the third quarter to further test the depth extension of the Santa Maria vein including approximately 2000 meters at a cost of about $300,000.

Jeffrey G. Clevenger, Chairman, President and Chief Executive Officer of Golden Minerals, said, "Our Mexican exploration team has performed extremely well by discovering opportunities for the Company near the Parral District in Southern Chihuahua State.  Drilling results from Los Azules and face sampling at Santa Maria give us encouragement as to the Company being able to establish a new production base in the District, using primarily excess equipment from the Velardena Properties."

Los Azules

The Company has completed an additional 5400 meters of drilling at Los Azules for a project total of about 6900 meters in 29 holes and reports the following additional significant drill intercepts:

Drill Hole

From

To

Drill Width

(m)

Au ppm

Ag ppm

Au EQ

ppm*

AZ14-02A

111.2

111.9

0.7

4.4

7

4.5

AZ14-03

117.0

117.5

1.3

25.3

32

25.9

AZ14-04

139.6

140.3

4.2

2.3

80

3.7

AZ14-04

386.6

387.3

3.2

3.4

12

3.6

AZ14-14

221.1

221.3

1.3

6.4

15

6.7

AZ14-14

307.1

309.5

2.4

0.6

733

12.8

AZ14-14A

194.4

195.6

1.2

1.1

238

5.1

AZ14-14A

305.5

306.2

0.9

7.3

378

13.6

AZ14-23

135.8

136.4

0.6

2.9

30

3.4

AZ14-27

54.0

54.8

0.8

6.0

13

6.2








* calculated at 60:1 Ag:Au

Complete drill results will be posted on Golden Minerals website at www.goldenminerals.com

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 Zacatecas, Mexico.  Prepared samples are direct-shipped to ISO 9001:2001 certified laboratories in the US or Canada.

About Golden Minerals

Golden Minerals is a Delaware corporation based in Golden, Colorado.  The Company is primarily focused on restarting operations at 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 channel sample results and interpretations of channel sample results at Santa Maria mine, anticipated drilling at the Maria Mine, drill results at the Los Azules project, potential establishment of a new production base near the Parral District, and potential use of excess equipment from the Velardena Properties.  These statements are subject to risks and uncertainties, including results of  drilling at Santa Maria; changes in geological, geostatistical and other interpretations of the information from channel sample and drill programs; whether sufficient material with favorable grades and metallurgy can be identified at Santa Maria or Los Azules to support economic mining; whether economic processing alternatives for Santa Maria or Los Azules material  can be identified and procured; unfavorable interpretations of geologic information; unfavorable results of metallurgical testing;, unexpected variations in mineral grade, types and metallurgy; fluctuations in relevant metal prices; technical and permitting issues or delays in mining and exploration; increases in cost or other problems that might negatively affect the Company in conducting potential drilling and exploration activities and otherwise advancing the Santa Maria and Los Azules properties; 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, 2013.

Golden Minerals Company
Karen Winkler
Director of Investor Relations
(303) 839-5060
[email protected]

Logo - http://photos.prnewswire.com/prnh/20120803/LA52082LOGO

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
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze 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. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
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. ...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Whether they’re located in a public, private, or hybrid cloud environment, cloud technologies are constantly evolving. While the innovation is exciting, the end mission of delivering business value and rapidly producing incremental product features is paramount. In his session at @DevOpsSummit at 19th Cloud Expo, Kiran Chitturi, CTO Architect at Sungard AS, will discuss DevOps culture, its evolution of frameworks and technologies, and how it is achieving maturity. He will also cover various st...
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...
If you had a chance to enter on the ground level of the largest e-commerce market in the world – would you? China is the world’s most populated country with the second largest economy and the world’s fastest growing market. It is estimated that by 2018 the Chinese market will be reaching over $30 billion in gaming revenue alone. Admittedly for a foreign company, doing business in China can be challenging. Often changing laws, administrative regulations and the often inscrutable Chinese Interne...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
In his session at @ThingsExpo, Kausik Sridharabalan, founder and CTO of Pulzze Systems, Inc., will focus on key challenges in building an Internet of Things solution infrastructure. He will shed light on efficient ways of defining interactions within IoT solutions, leading to cost and time reduction. He will also introduce ways to handle data and how one can develop IoT solutions that are lean, flexible and configurable, thus making IoT infrastructure agile and scalable.
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.