Golden Minerals Company [AUMN-TSX, NYSE American] reported assay results from the first 10 holes of a 22-hole, second-phase diamond drill (DD) program recently completed at its Sarita Este property in Salta province, Argentina.
The company has drilled 22 DD holes totalling 1,286 metres, focusing on exploration drilling following up on the Sico epithermal target drilled in 2021 as part of an option agreement with Cascadero Copper Corp. (CCD). Drill results for 2021 were reported on Jan. 19, 2022. The recent diamond drilling campaign was completed in late June, 2022.
Highlights from the recent DD holes drilled in the Sico epithermal targets include 52.5 metres at 1.49 g/t gold and 5.2 g/t silver from zero metres, including 3.7 metres at 7.27 g/t gold and 12.1 g/t silver; 2.2 metres at 27.47 g/t gold and 3.1 g/t silver from 14.8 metres, including 0.6 metres at 102.50 g/t gold and 10.6 g/t silver; 20.6 metres at 1.37 g/t gold and 3 g/t silver from 19.5 metres, including 10.9 metres at 2.01 g/t gold and 4.1 g/t silver; 5.2 metres at 1.65 g/t gold and 1.5 g/t silver from zero metres.
Drilling at Sico followed up on the positive results reported from hole SE21008 in early 2022 which intersected 9.9 metres grading 1.91 g/t gold and 5 g/t silver from 16.4 metres depth. The recent 2022 results confirm mineralization extends to the east, west and south of hole SE21008. The company is waiting for results of the remaining 12 holes drilled in the current program and planning a follow-up campaign which is due to begin in mid-August.
Mineralization at Sico is hosted in shallow iron-oxide-bearing veins, veinlets and fractures within Tertiary volcanic rocks. The prospect lies approximately 3 km southwest of the Taca Taca copper porphyry deposit (owned by First Quantum Minerals) and 55 km directly north of the currently producing Lindero gold mine (owned by Fortuna Silver). The mineralization at the Sarita Este prospect extends south onto the Desierto I and II concessions (2,498 hectares) where Golden is a controlling shareholder with an agreement in place to form a joint venture with Cascadero Copper Corp. [CCD-TSXV].
“Initial results for the second drill campaign at the Sico epithermal deposit continue to show strong potential for a shallow economic oxide gold deposit. Assays are pending on the results from drilling to the west of the discovery hole and we are planning a follow-up drill campaign to start in mid-August to continue delineating the deposit,” said Warren Rehn, president and CEO.
Sarita Este is a gold-silver prospect located in the Puna region in Salta province, northwest Argentina. The property is 100%-owned by Cascadero Copper Corp. through its subsidiary Salta Geothermal SA. Golden Minerals is conducting exploration activities at Sarita Este as a part of a 2019 option agreement whereby it can acquire 51% of the 830-hectare property by spending $2.5-million over four years and forming a JV with Cascadero Copper.