Resource News

Golden Minerals Company (TSX:AUM,NYSEMKT:AUMN) announced the mineral resource estimate for the deposits at the Santa Maria min and Los Azules properties in Mexico.

Golden Minerals Company (TSX:AUM,NYSEMKT:AUMN) announced the mineral resource estimate for the deposits at the Santa Maria min and Los Azules properties in Mexico.

As quoted in the press release:

Both properties are located in southern Chihuahua State, Mexico within 30 kilometers of the town of Hidalgo del Parral near the Parral mining district.

The Santa Maria vein system is on average a two-meter wide epithermal silver (Ag) – gold (Au) deposit hosted in Parral Formation calcareous sedimentary rocks.  Mineral resources were estimated based on 125 composited channel samples and 2,900 meters of drilling in 13 holes over a strike length of 355 meters and down dip depth of 155 meters.  Previous mining activities on the Santa Maria property included completion of a decline to the 75 meter level which is accessible by motorized equipment.

The Los Azules vein system is on average a one-meter wide epithermal Au-Ag quartz vein system hosted in Tertiary volcanic rocks.  Resources were estimated based on 206 composited channel samples and 30 drill holes totaling 7,479 meters over a strike length of 2,100 meters and a down dip extent of 350 meters.  Previous mining on the Los Azules property established underground access drifts that Golden Minerals rehabilitated for access to the vein system.

Jeffrey G Clevenger, president, chairman and CEO of Golden Minerals, commented:

One of Golden Minerals’ top priorities  is to establish a second set of mines in Mexico, which could include Santa Maria, Los Azules or other properties currently under evaluation.  Our first priority is to accomplish a smooth and profitable restart of the Velardena Properties, which I am pleased to say is going well.

Click here to read the full Golden Minerals Company (TSX:AUM,NYSEMKT:AUMN) press release.

 

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