Golden Minerals declares enlargement drilling at Rodeo Gold Mine NYSE: AUMN
GOLDEN, Colorado, March 21, 2021 (GLOBE NEWSWIRE) – Golden Minerals Firm (NYSE American and TSX: AUMN) (“Golden Minerals”, “Golden” or “the Firm”) is happy to announce that it has commenced exploration drilling program at its working Rodeo gold mine (State of Durango, Mexico) to extend the useful resource.
This system will embrace roughly 2,000 meters of exploration drilling on chosen near-surface targets situated instantly adjoining to the present pit. This system has the potential to increase the lifetime of the Rodeo mine properly past the presently estimated life of roughly 2.5 years. Outcomes ought to begin to develop into accessible within the coming months and all newly added sources might be included into the Firm’s manufacturing plans.
“Latest mining actions on the Rodeo open pit gold mine have revealed very attention-grabbing enlargement targets which, for my part, may prolong the lifetime of Rodeo considerably,” mentioned Warren Rehn, President and CEO of the administration of the corporate. “Primarily based on our earlier drilling, we believed the upper grade mineralization had been closed to the north by two drill holes; nevertheless, it’s now evident that these holes possible missed the primary mineralized zone. Our extra full understanding of the geology of the deposit based mostly on the brand new open pit exposures leads us on to present drill targets.
The corporate started mining at Rodeo on the finish of December 2020 and introduced that it had began processing at a fee of roughly 200 tonnes per day (“tpd”) by mid-January 2021, roughly two weeks forward of schedule and finances. Rodeo’s first gold pour befell on the finish of January 2021. At the moment, Golden introduced that it could pace up processing to a full run fee of round 450 tpd, which is anticipated to happen by the tip of the primary quarter of 2021 throughout set up. a crushed ball mill has been accomplished and put into operation. These actions stay on monitor and are anticipated to happen by March 31, 2021.
The Firm continued to pay gold weekly, if no more incessantly, as deliberate, and exported and bought its first batch of gold-silver bullion. The corporate is on monitor to finish its deliberate annual manufacturing of 12,000 to 14,000 ounces of gold in 2021.
About Golden Minerals
Golden Minerals is a Delaware firm based mostly in Golden, Colorado. The Firm is primarily centered on advancing its Rodeo and Velardeña properties in Mexico and, by partner-funded exploration, on its El Quevar silver property in Argentina, in addition to on the acquisition and development of mining properties in Mexico, Argentina and Nevada.
This press launch comprises forward-looking statements throughout the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934, as amended, and Canadian legislation. relevant securities, together with statements relating to my life at Rodeo; the timing of the outcomes of the present exploration drilling program at Rodeo; timing of processing of rodeo tools and anticipated completion charges; and expectations for Rodeo’s annual manufacturing. These statements are topic to dangers and uncertainties, together with the reasonableness of financial assumptions based mostly on Rodeo’s preliminary financial evaluation and technical report and different financial projections of the Rodeo mine; adjustments within the interpretation of geological, geostatistical, metallurgical, mining or processing data; interpretations of data ensuing from exploration, evaluation or extraction and processing expertise; fluctuations in trade charges and adjustments in political, tax, royalty, environmental or different situations in Mexico; fluctuations within the value of silver or gold; and the period and total influence of the COVID-19 pandemic, together with the attainable future suspension of non-essential actions in Mexico, together with mining. Golden Minerals assumes no obligation to replace this data. Extra dangers associated to Golden Minerals might be present in periodic and ongoing reviews filed with the SEC by Golden Minerals, together with the corporate’s annual report on Type 10-Okay for the fiscal 12 months ended December 31, 2020.
For extra data, please go to http://www.goldenminerals.com/ or contact
Golden Minerals Firm
Karen Winkler, Director of Investor Relations, (303) 839-5060
SOURCE: Golden Minerals Firm