GOLDEN, Colo.--(BUSINESS WIRE)--Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American: AUMN and TSX: AUMN) is pleased to report payable production during the third quarter 2021 of 4,942 gold equivalent ounces, consisting of 4,777 gold ounces and 12,196 silver ounces from its Rodeo gold-silver open pit mine located in Durango State, Mexico. Gold production increased by 38% compared to 3,452 ounces produced in the second quarter 2021.
Average gold grade processed during the third quarter increased to 4.0 grams per tonne (“g/t”) from 3.6 g/t in the second quarter 2021. Mill throughput during the third quarter averaged 532 tonnes per day (“tpd”) compared to 427 tpd during the second quarter 2021. Average plant recovery for gold was 76.5% during the third quarter compared to 78.0% in the second quarter. The Company continues to optimize the mill circuit for increased recovery with a focus on a finer grind and additional aeration in the leach tank train.
The Company has today reaffirmed its 2021 annual production guidance of between 12,000-14,000 oz gold and 25,000-30,000 oz silver.
Warren Rehn, President and Chief Executive Officer of the Company, commented on the third quarter production figures. “Q3 was the first quarter of full production for Rodeo and the mine has exceeded expectations in terms of gold ounces produced. Our operations team has demonstrated exceptional ability to execute and follow through with our mining and processing plan. Given the excellent results this quarter, I expect we will close the year at the high end of our production guidance.”
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