Golden Minerals Company (NYSE-A:AUMN, TSX:AUMN, ETR:7GB) has unveiled drill results from its Yoquivo gold-silver project in Chihuahua state, Mexico ahead of a maiden resource estimate, earmarked for the first quarter of next year as it updated on its Mexico properties.
The program at Yoquivo began in May this year in a bid to follow up on high-grades reported in earlier drill campaigns and to explore the Pertenencia vein system.
So far, 24 holes for 5,693 metres (m) have been completed and the latest highlights included 5.9m at 1.58 grams per ton (g/t) gold and 205.5 g/t silver, starting from 296.3m depth in one hole at the Camila vein.
Also hit in another hole was 9.3m at 0.3 g/t gold and 209 g/t silver from 158.6m depth at the San Francisco vein. That included an intercept of 3.4m at 0.2 g/t gold and 448 g/t silver, also starting from 158.6m depth.
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Golden Minerals noted that a follow-up drill program of about 2,500m was planned to start in late September this year to further delineate new veins and high-grade intercepts encountered on the Pertenencia, San Francisco, and Dolar vein systems.
At the Velardena project, a further review of the results of test-mining activities over the summer and a review of mine plans mean the firm will now undertake a development and exploration drill program at Velardena prior to restarting mining.
It anticipates starting drilling in the fourth quarter, with results becoming available during the first quarter of 2023.
At the Rodeo mine, the company said it continues to perform in line with the company's plan and remains on schedule to meet its forecasted production range of 12,000 to 14,000 ounces of gold and 42,000 to 47,000 ounces of silver in 2022.
Drilling and blasting at Rodeo have advanced ahead of plan in Phase I, which allows for maximum mining flexibility as the pit continues to develop and transition into Phase II, it added.
Golden noted the safety record at Rodeo, where over one year and eight months was recently completed without a lost-time accident and the past two quarters without incident.
Also in the statement, the company said it will participate in this year's Precious Metals Summit taking place at the Park Hyatt Hotel in Beaver Creek, Colorado from September 13 to 16, 2022.
Golden Minerals is a growing gold and silver producer based in Golden, Colorado. The company is primarily focused on producing gold and silver from its Rodeo Mine and advancing its Velardena Properties in Mexico and, through partner-funded exploration, its El Quevar silver property in Argentina, as well as acquiring and advancing selected mining properties in Mexico, Nevada and Argentina.
Contact the writer at giles@proactiveinvestors.com