Golden Minerals Company (NYSE-A:AUMN, TSX:AUMN, ETR:7GB) has reported results from the final 10 holes of the third drill program conducted at its Yoquivo gold-silver project in Mexico’s northwest Chihuahua state.
The company said the 2022 drill program, which commenced last May, was comprised of 34 holes totaling 9,268.35m. The program was designed to follow up on high-grade intercepts from its 2020 and 2021 drilling campaigns. To date, it has drilled 70 drill holes totaling over 16,000 meters (m) at Yoquivo.
“Our team continues to advance our understanding of the mineralization at Yoquivo,” Golden Minerals president and CEO Warren Rehn said in a statement. “These last holes from the 2022 program continue to return high-grade gold and silver assays from both the Pertenencia and San Francisco vein systems, and with each new drilling campaign we continue to discover additional veins and extend mineralization to greater depths than previously recognized.”
READ: Golden Minerals posts drill results from its Yoquivo gold-silver project as it updates on Mexico properties
Highlights from the program include:
- 4.80m grading 1.45 grams per tonne (g/t) gold (Au) and 510 g/t Ag from the Camila vein;
- 2.29m grading 3.86 g/t Au and 668 g/t Ag from the Pertenencia vein;
- 1.16m grading 4.25 g/t Au and 449 g/t Ag from the Camila Hangingwall vein; and
- 1.65m grading 1.30 g/t Au and 545 g/t Ag from the San Francisco vein system,
Golden Minerals noted that the primary focus of the 2022 third drilling program was to sufficiently drill the Pertenencia vein system to advance the project towards an initial mineral resource estimate compliant with Canadian National Instrument 43-101 and Item 1300 of Regulation S-K promulgated by the Securities and Exchange Commission. It began work on the mineral resource estimate in November 2022 and currently expects it should be completed in the first quarter of 2023.
“We are especially excited about hole YQ_22_034 which demonstrates that the San Francisco Footwall vein appears to be a very robust discovery,” Rehn continued. “We have drilled only a small portion of the known veins in the district with numerous excellent intercepts and showings still to be offset and tested.”
Colorado-based Golden Minerals owns seven concessions that comprise the Yoquivo property, totaling 1,974.8 hectares located in western Chihuahua state in northern Mexico. The concessions owned by Golden are subject to net smelter return royalties of 2 to 3% on production, capped at $3 million.
Contact the author at stephen.gunnion@proactiveinvestors.com