Golden Minerals Company is pleased to announce it has completed a 3,400-meter, 15-hole drill campaign at its Yoquivo gold-silver district-scale property in Chihuahua, Mexico.
Yoquivo covers a large, low-sulfidation epithermal vein system with limited historic production. The Company has identified four separate vein systems in which surface sampling has returned grades up to 4,050 g/t silver and 27.7 g/t gold from surface. See Golden Minerals’ press release dated Oct. 31, 2018 for details: AUMN Identifies High-Grade Veins at Yoquivo.
Golden Minerals drilled approximately 3,400 meters in 15 core holes exploring the principal veins at Yoquivo. The drilling targeted the silver-gold Pertenencia, San Francisco and Esperanza vein systems to better understand the nature and distribution of the high-grade mineralization. The Company expects to be able to announce results from the drilling program within the next few months.
Warren Rehn, President and Chief Executive Officer of Golden Minerals, noted, “Yoquivo represents one piece of our longer-term strategy; namely, increasing shareholder value through continued exploration success that will build long-term company profitability.
Meanwhile, we remain focused on achieving profitable near-term gold and silver production at Rodeo and Velardeña, with Rodeo slated to begin production in early 2021. We have been waiting for the right time to complete a drill program at Yoquivo to test its potential to host high-grade silver and gold mineralization, and we look forward to announcing results from this program.”
Golden holds an option to purchase seven concessions that comprise the Yoquivo property, totalling 1,974.8 hectares located in western Chihuahua State in northern Mexico, for payments totalling $0.75 million over four years and subject to a 2% net smelter return royalty on production capped at $2 million.
The claims cover an underexplored epithermal precious metals district that shows similar mineralization to the adjacent Ocampo mining district, and the Company, through systematic exploration, hopes to identify significant high-grade mineralization.
Source: Globe Newswire