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Golden Minerals intersects high-grade gold at its Rodeo mine in Mexico

Published: 08:43 19 Oct 2021 EDT

Golden Minerals Company -
Its current drill program is focused on resource expansion and exploration of several targets located adjacent to the open pit

Golden Minerals Company (NYSE-A:AUMN, TSX:AUMN, ETR:7GB) has announced assay results from 25 recently completed reverse circulation (RC) drill holes at its Rodeo gold-silver mine in Mexico, which included 18 metres (m) grading 2.9 grams per tonne (g/t) gold and 11 g/t silver. 

The company said it has drilled 47 RC holes totaling 3,187m, which focused on resource expansion and exploration of several targets located adjacent to the open pit. 

“The initial RC drill results are very positive,” Golden Minerals CEO Warren Rehn said in a statement. 

READ: Golden Minerals sees 3Q gold equivalent output climb 38% at its Rodeo mine in Mexico

“The gold-bearing intervals expand on the known zones of mill-grade gold mineralization to the south of the current pit and indicate that there is strong potential for Rodeo to host additional profitable tonnage, at current prices, to the south and west of the current pit,” Rehn added.

Golden Minerals also noted that drilling has intersected several wide zones of disseminated gold mineralization and has identified several additional high-grade zones that appear to be hosted in a series of silicified structures running parallel to the high-grade gold zones currently being exploited.

It added that the mineralization in these new zones is similar to the material currently being mined and consists of highly silicified epithermal veins and breccias hosted in felsic volcanic rocks.

The RC drilling was completed in early October.

Golden Minerals has a strong pipeline of exploration projects that it plans to advance using the cash flow generated from its Rodeo and Velardeña operations. The company owns the El Quevar silver property in Argentina and is advancing mining properties in Mexico, Nevada, and Argentina.

Contact Sean at sean@proactiveinvestors.com

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