Golden Minerals Company (NYSE-A:AUMN, TSX:AUMN, ETR:7GB) has announced final assay results from the reverse circulation (RC) and diamond drill programs that it recently completed at its Rodeo gold-silver mine located in Mexico’s Durango State, which include 20 metres (m) grading 8.2 grams per tonne gold.
The company said the 2021 drilling programs conducted at Rodeo consisted of 47 RC holes totaling 3,187m, plus 35 diamond holes totaling 2,461m. The RC drilling focused on resource expansion and the diamond drilling program focused on exploring several near-mine exploration targets.
"It has been a very encouraging drill program,” president and CEO Warren Rehn said in a statement. “We have been able to extend the high-grade mineralization to the north and south of the open pit and we discovered a zone of disseminated gold-silver mineralization surrounding the high-grade core."
READ: Golden Minerals intersects high-grade gold at its Rodeo mine in Mexico
The company noted that results from the latest 21 RC and six diamond drill holes continued to intersect wide zones of high-grade gold mineralization surrounded by a large zone of low grade, disseminated gold and silver mineralization.
The gold mineralization is associated with a northwest-southeast trending stockwork zone of steeply dipping smoky quartz veinlets and breccias containing very fine disseminated pyrite, hosted in a sequence of felsic volcanic rocks, it added.
“We are modeling the data now and will update our resource model and our mine plan as warranted once we have understood the extent of the possible additions to the mineralized material,” Rehn concluded.
Golden Minerals has a strong pipeline of exploration projects that it plans to advance using the cash flow generated from its Rodeo and Velardeña operations. The company owns the El Quevar silver property in Argentina and is advancing mining properties in Mexico, Nevada, and Argentina.
Contact the author at stephen.gunnion@proactiveinvestors.com