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Golden Minerals (TSX:AUMN) begins drilling in Mexico
  • Golden Minerals (AUMN) has revealed results from the second round of drilling at its Rodeo gold-silver project in Mexico 
  • The results come from 11 holes, which have shown wide zones of high grade near-surface gold mineralization 
  • Results included a 23.5 metre strike grading at 5.87 grams per tonne gold and 27.5 grams per tonne silver 
  • Other results include 24.5 metres at 6.6 grams per tonne gold and 13.9 grams per tonne silver 
  • Golden Minerals (AUMN) is up 5.76 per cent and is trading at C$0.55 per share

Golden Minerals (AUMN) has revealed results from the second round of drilling at its Rodeo gold-silver project in Mexico.

The results come from 11 holes, which have shown wide zones of high grade near-surface gold mineralization. The results included 24.5 metres grading at 6.6 grams per tonne gold and 13.9 grams per tonne silver.

Another hole intercepted 23.5 metres grading at 5.87 grams per tonne gold and 27.5 grams per tonne silver. The mineralised rock is made up mostly of silicified epithermal veins and breccias' hosted within volcanic rock.

Breccia-hosted gold is especially sought after by exploration companies, due to its generally high-grade nature. 

This is especially relevant for Golden Minerals, who have a completed mineral resource estimate for Rodeo following previous drilling in 2016.

The mineral resource estimate hovers at below one gram per tonne on average. The company hopes it can improve the economics of the project by hitting higher grades within these breccias.

Warren Rehn, President and CEO of Golden Minerals, said the company had continued to intersect thick intervals of near-surface, high grade gold mineralization at the Rodeo project. 

"The results of this infill drilling program are showing an improvement in gold grades on average compared to previous drill hole results.

"This further supports our plan to develop the project and process this high-grade material in our oxide plant at Velardena," he said. 

Golden Minerals (AUMN) is up 5.76 per cent and is trading at C$0.55 per share at 12.24pm EDT.


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