Golden Minerals drills 20 metres of 8.2 g/t gold at Rodeo mine, Mexico
Golden Minerals Company [AUMN-TSX; NYSE AMERICAN] reported final assay results from its reverse circulation (RC) and diamond drill programs that it recently completed at its 100%-owned Rodeo gold-silver mine located in Durango State, Mexico.
Highlights from the drilling include drill hole RRC-021-034 that returned 28 metres at 2.0 g/t gold and 18 g/t silver. Hole RRC-021-035 returned 34 metres at 2.3 g/t gold and 9 g/t silver. Hole RRC-021-036 returned 20 metres at 8.2 g/t gold and 23 g/t silver. Hole RRC-021-041 returned 26 metres at 2.4 g/t gold and 23 g/t silver. RRC-021-044 returned 24 metres at 3.7 g/t gold and 14 g/t silver.
The 2021 drilling programs conducted at Rodeo consisted of 47 RC holes totalling 3,187 metresd, plus 35 diamond holes totalling 2,461 metres The RC drilling focused on resource expansion and the diamond drilling program focused on exploring several near-mine exploration targets. The current release is the third since inception of the drill program and contains results from 21 RC and nine diamond drill holes.
The drilling has continued to intersect wide zones of high-grade gold mineralization surrounded by a large zone of low-grade disseminated gold and silver mineralization. Warren Rehn, president and CEO, stated: “It has been a very encouraging drill program. We have been able to extend the high-grade mineralization to the north and south of the open pit and we discovered a zone of disseminated gold-silver mineralization surrounding the high-grade core. We are modelling the data now and will update our resource model and our mine plan as warranted once we have understood the extent of the possible additions to the mineralized material.”
Core intervals represent drilled length. It is expected that true thickness is approximately 80% of drilled length.
Rodeo is a gold-silver open-pit mine where production began in January, 2021, with material being trucked to the company’s oxide mill at the Velardena properties about 115 km distant by road. Rodeo’s current expected life per the terms of an independently prepared NI 43-101-compliant PEA is 2.5 years.