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
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
SYS-CON Events announced today that SD Times | BZ Media has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. BZ Media LLC is a high-tech media company that produces technical conferences and expositions, and publishes a magazine, newsletters and websites in the software development, SharePoint, mobile development and commercial UAV markets.
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, will present a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to max...
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
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.
After more than five years of DevOps, definitions are evolving, boundaries are expanding, ‘unicorns’ are no longer rare, enterprises are on board, and pundits are moving on. Can we now look at an evolution of DevOps? Should we? Is the foundation of DevOps ‘done’, or is there still too much left to do? What is mature, and what is still missing? What does the next 5 years of DevOps look like? In this Power Panel at DevOps Summit, moderated by DevOps Summit Conference Chair Andi Mann, panelists l...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Virtualization over the past years has become a key strategy for IT to acquire multi-tenancy, increase utilization, develop elasticity and improve security. And virtual machines (VMs) are quickly becoming a main vehicle for developing and deploying applications. The introduction of containers seems to be bringing another and perhaps overlapped solution for achieving the same above-mentioned benefits. Are a container and a virtual machine fundamentally the same or different? And how? Is one techn...
MongoDB Atlas leverages VPC peering for AWS, a service that allows multiple VPC networks to interact. This includes VPCs that belong to other AWS account holders. By performing cross account VPC peering, users ensure networks that host and communicate their data are secure. In his session at 20th Cloud Expo, Jay Gordon, a Developer Advocate at MongoDB, will explain how to properly architect your VPC using existing AWS tools and then peer with your MongoDB Atlas cluster. He'll discuss the secur...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service.
Niagara Networks exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.