GOLDEN, Colo., Sept. 15, 2017 (GLOBE NEWSWIRE) — Golden Minerals Company (“Golden Minerals”, “Golden” or “the Company”) (NYSE American:AUMN) (TSX:AUMN) is pleased to share a business update, including:
- 1,500 meter initial drill program at its Mogotes property (Durango, Mexico) is scheduled to start the week of September 18, 2017
- Dewatering of El Quevar underground workings is planned to accommodate a potential drill program (Salta, Argentina)
- A re-modeling of El Quevar’s silver deposit resource is underway to identify a potentially economic resource in the core of the Yaxtche deposit
- Argentina Value Added Tax (“VAT”) refunds received totaling US$1.1 million in second and third quarters of 2017
- Further to the Company’s September 7, 2017 news release announcing the start of a new drill program at its Santa Maria property (Chihuahua, Mexico), three holes totaling 700 meters have been completed as of September 11, 2017, with drilling ongoing
Golden Minerals President and Chief Executive Officer Warren M. Rehn commented, “We are dedicated to unlocking the full value of our existing resources and infrastructure in Mexico and Argentina. The drill program at Mogotes is a first test of an extensive altered area that shows signs of being a productive epithermal system hosted in volcanic rocks within a few kilometers of our existing mills at Velardena. Surface values from channel samples show strongly anomalous gold, arsenic and antimony values associated with hydrothermal breccia veins and silicification along a major fault structure.