Golden Minerals (AUM-T) July 8, '15 has released results from three exploration drill holes at its Celaya project in Guanajuato, Mexico.
Golden Minerals has completed an initial 2,200-meter, three-hole drilling program at its 6,200 hectare Celaya project located 45 kilometers (km) southeast of and on trend with the historic Guanajuato District. Results include the first known epithermal gold (Au) and silver (Ag) mineralization encountered beneath widespread clay-silica alteration on the claims comprising the Celaya project. Highest grade intercepts include 0.4 meters of 758 grams per tonne (g/t) Ag in drill hole CE15-03 and 1.1 meter of 7.4 g/t Au and 393 g/t Ag in drill hole CE15-05.
| Hole No. | Collar Orientation
(azimuth, dip) | From (meters) | To (meters) | Drill Width (meters) | Au (g/t) | Ag (g/t) | | CE15-03* | 052°, -57° | 639.1 | 643.6 | 4.5 | 0.38 | 136 | | including | | 643.2 | 643.6 | 0.4 | 1.45 | 758 | | CE15-04 | 217°, -55° | 577 | 577.9 | 0.9 | 0.83 | 331 | | CE15-04 | | 592.2 | 592.9 | 0.7 | 0.83 | 285 | | CE 15-05 | 130°, -55° | 747.4 | 748.5 | 1.1 | 7.4 | 393 | | including | | 748.1 | 748.5 | 0.4 | 16.25 | 389 |
| *holes CE15-01 and CE15-02 were abandoned short of target due to excessive deviation |
Complete drill results will be posted on the Golden Minerals website at www.goldenminerals.com.
The Company's target of exploration at the Celaya project is a Guanajuato-style silver and gold epithermal vein system. The drill program focused on an extensive area of clay-silica alteration that Company geologists interpreted to be the surface expression of an epithermal vein system at depth. The Company believes that the discovery of significant silver and gold values associated with banded epithermal veins approximately 500 meters vertically below the outcropping alteration confirms the exploration model and suggests the nearby presence of a mineralized system of possible economic interest.
The gold and silver-bearing intervals in drill holes CE15-03 and CE15-04 represent multiple vein structures interpreted to strike northwest and dip steeply to the southwest within a favorable corridor with a minimum width of 35 meters. The gold and silver-bearing interval in drill hole CE15-05 is interpreted to be a northeast trending vein structure which dips moderately northwest and is 190 meters southeast of the intercepts in drill holes 3 and 4.
The exploration model for Celaya is similar to that at Plata Latina's Naranjillo discovery, 10 km to the west. Recent drilling activity adjacent to the Naranjillo discovery by Fresnillo, PLC provides further indication of the prospectivity of the area.
Guanajuato District production source: Consejo de Recursos Minerales, 1992, Geological-Mining Mongraph of the State of Guanajuato, p. 59
Golden Minerals holds the 6,200 hectare Celaya project through its wholly owned subsidiary, Minera de Cordilleras SA de CV, which owns the Celaya 01 concession directly, one claim by lease, and two others via a purchase agreement.
Warren M. Rehn, President of Golden Minerals Company, stated, "The discovery holes at Celaya show that we are on the trail of an interesting and potentially important gold-silver system."
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 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 and the exploration of properties in Mexico and Argentina.
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
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