GOLDEN, Colo., Nov. 4, 2014 /CNW/ -- Golden Minerals Company ("Golden Minerals" or the "Company") (NYSE MKT: AUMN) (TSX: AUM) has released results of high-grade gold and silver intercepts from four holes of a drilling program conducted at its Santa Maria property located in Santa Barbara, Chihuahua State, Mexico.
Golden Minerals has completed an initial 2,300-meter, 11-hole drilling program at its recently-optioned Santa Maria gold and silver property located near the Parral district in Chihuahua State, Mexico. To date the Company has received assays for seven holes, with results for an additional four holes expected before the end of the year. Highlights include hole SM14-08 that returned an intercept of 568 grams per tonne silver and 2.7 grams per tonne gold over 4.42 meters, hole SM14-04 with an intercept of 222 grams per tonne silver and 2.5 grams per tonne gold over 4.95 meters, and hole SM14-06 which returned intercepts of 411 grams per tonne silver and 2.3 grams per tonne gold over 3.02 meters. Results are summarized in the table below. Full results will also be posted on the Company's website.
|
Hole No.
|
From (meters)
|
To (meters)
|
Drill Width (meters)
|
True Width (meters)
|
Au (g/t)
|
Ag (g/t)
|
Pb (%)
|
Zn (%)
|
|
SM14-01
|
137.17
|
137.62
|
0.45
|
0.39
|
1.9
|
1344
|
3.28
|
4.39
|
|
SM14-04
|
164.69
|
169.64
|
4.95
|
3.18
|
2.5
|
222
|
2.1
|
3.3
|
|
SM14-06
|
203.60
|
206.62
|
3.02
|
1.51
|
2.3
|
411
|
0.1
|
0.35
|
|
SM14-08
|
192.20
|
196.62
|
4.42
|
2.84
|
2.7
|
568
|
1.8
|
2.5
|
The drilling program commenced in September 2014 with the goal of further testing the depth extension of the main vein system at Santa Maria. The Company may implement a second phase of drilling, depending on final assay results. Historic mining on the Santa Maria vein included construction of two vertical shafts and mining of oxide ores to a depth of 100 meters below surface along portions of the 500 meters of exposed vein strike. More recent mining included a three meter by three meter decline to access the bottom 60 meters of the previously worked vein system along 300 meters of strike. There are two known veins on the property which strike east to west and dip north at about 75 degrees. All past work was completed on the southern and wider of the two parallel veins. The veins are epithermal gold-silver-lead-zinc quartz veins which cut Cretaceous calcareous sediments.
Jeffrey G. Clevenger, Chairman, President and Chief Executive Officer, stated, "Results at Santa Maria combined with results to date at Los Azules add to our critical mass in the district and support our objective of developing a new production base in the Parral district."
Review by Qualified Person and Quality Control
The technical contents of this press release have been reviewed by Warren M. Rehn, M.Sc., a Qualified Person for the purposes of Canadian National Instrument 43-101. Mr. Rehn has over 33 years of mineral exploration experience and is a QP member of the Society for Mining Metallurgy and Exploration.
To ensure reliable sample results, Golden Minerals uses a quality assurance/quality control program that monitors the chain-of-custody of samples and includes the insertion of blanks, duplicates and reference standards in each batch of samples. Core is photographed and sawn in half with one half retained in a secured facility for verification purposes. Sample preparation (crushing and pulverizing) is performed at an independent ISO 9001:2001 certified laboratory in Chihuahua or Zacatecas, Mexico. Prepared samples are direct-shipped to an ISO 9001:2001 certified laboratory in Canada.
About Golden Minerals
Golden Minerals is a Delaware corporation based in Golden, Colorado. The Company is primarily focused on operations at its Velardena Properties, the advancement of its El Quevar advanced exploration property in Argentina, and the exploration of properties in Mexico.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act and applicable Canadian securities legislation, including statements regarding the exploration results, pending results and programs at the Santa Maria project, including anticipated further drilling, interpretations of drilling results, and the possibility of developing a new production base in the Parral district. These statements are subject to risks and uncertainties including additional drill results; changes in geological, geostatistical and other interpretations of the information from drill programs; unfavorable interpretations of geologic information; unexpected variations in mineral grade, types and metallurgy; fluctuations in relevant metal prices; technical and permitting issues; increases in cost or other problems that might negatively affect the Company in conducting potential drilling and exploration activities and otherwise advancing the Santa Maria project or producing in the Parral district; and economic or financial market conditions. Golden Minerals Company assumes no obligation to update this information. Additional risks relating to Golden Minerals Company may be found in the periodic and current reports filed with the Securities Exchange Commission by Golden Minerals Company, including the Company's Annual Report on Form 10-K for the year ended December 31, 2013.
For additional information please visit http://www.goldenminerals.com/ or contact:
Golden Minerals Company
Karen Winkler
Director of Investor Relations
(303) 839-5060
Investor.relations@goldenminerals.com
Logo - http://photos.prnewswire.com/prnh/20120803/LA52082LOGO
SOURCE Golden Minerals Company
