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
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st 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 w...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single-threaded, you can effectively identify hot spots in your serverless code. In his session at @DevOpsSummit at 21st Cloud Expo, Dave Martin, Product owner at CA Technologies, will give a live demonstration and code walkthrough, showing how ...
Docker containers have brought great opportunities to shorten the deployment process through continuous integration and the delivery of applications and microservices. This applies equally to enterprise data centers as well as the cloud. In his session at 20th Cloud Expo, Jari Kolehmainen, founder and CTO of Kontena, discussed solutions and benefits of a deeply integrated deployment pipeline using technologies such as container management platforms, Docker containers, and the drone.io Cl tool. H...
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
21st International Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Me...
Any startup has to have a clear go –to-market strategy from the beginning. Similarly, any data science project has to have a go to production strategy from its first days, so it could go beyond proof-of-concept. Machine learning and artificial intelligence in production would result in hundreds of training pipelines and machine learning models that are continuously revised by teams of data scientists and seamlessly connected with web applications for tenants and users.
In his session at 20th Cloud Expo, Scott Davis, CTO of Embotics, discussed how automation can provide the dynamic management required to cost-effectively deliver microservices and container solutions at scale. He also discussed how flexible automation is the key to effectively bridging and seamlessly coordinating both IT and developer needs for component orchestration across disparate clouds – an increasingly important requirement at today’s multi-cloud enterprise.
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., discussed how these tools can be leveraged to develop a lasting competitive advantage ...
IT organizations are moving to the cloud in hopes to approve efficiency, increase agility and save money. Migrating workloads might seem like a simple task, but what many businesses don’t realize is that application migration criteria differs across organizations, making it difficult for architects to arrive at an accurate TCO number. In his session at 21st Cloud Expo, Joe Kinsella, CTO of CloudHealth Technologies, will offer a systematic approach to understanding the TCO of a cloud application...
With Cloud Foundry you can easily deploy and use apps utilizing websocket technology, but not everybody realizes that scaling them out is not that trivial. In his session at 21st Cloud Expo, Roman Swoszowski, CTO and VP, Cloud Foundry Services, at Grape Up, will show you an example of how to deal with this issue. He will demonstrate a cloud-native Spring Boot app running in Cloud Foundry and communicating with clients over websocket protocol that can be easily scaled horizontally and coordinate...
In his session at 20th Cloud Expo, Chris Carter, CEO of Approyo, discussed the basic set up and solution for an SAP solution in the cloud and what it means to the viability of your company. Chris Carter is CEO of Approyo. He works with business around the globe, to assist them in their journey to the usage of Big Data in the forms of Hadoop (Cloudera and Hortonwork's) and SAP HANA. At Approyo, we support firms who are looking for knowledge to grow through current business process, where even 1%...
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Secure Channels, a cybersecurity firm, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Secure Channels, Inc. offers several products and solutions to its many clients, helping them protect critical data from being compromised and access to computer networks from the unauthorized. The company develops comprehensive data encryption security strategie...
In his session at @ThingsExpo, Sudarshan Krishnamurthi, a Senior Manager, Business Strategy, at Cisco Systems, discussed how IT and operational technology (OT) work together, as opposed to being in separate siloes as once was traditional. Attendees learned how to fully leverage the power of IoT in their organization by bringing the two sides together and bridging the communication gap. He also looked at what good leadership must entail in order to accomplish this, and how IT managers can be the ...
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 ...