Golden Minerals Company 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 totaling 1,286m, 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 January 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:
52.5m @ 1.49 g/t Au and 5.2 g/t Ag from 0m, including 3.7m @ 7.27 g/t Au and 12.1 g/t Ag
2.2m @ 27.47 g/t Au and 3.1 g/t Ag from 14.8m, including 0.6m @ 102.50 g/t Au and 10.6 g/t Ag
20.6m @ 1.37 g/t Au and 3.0 g/t Ag from 19.5m, including 10.9m @ 2.01 g/t Au and 4.1 g/t Ag
5.2m @ 1.65 g/t Au and 1.5 g/t Ag from 0m
Drilling at Sico followed up on the positive results reported from hole SE21008 in early 2022 which intersected 9.9m grading 1.91 g/t Au and 5.0 g/t Ag from 16.4m 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 3km southwest of the Taca Taca copper porphyry deposit (owned by First Quantum Minerals) and 55km 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 & II concessions (2,498 hectares) where Golden is a controlling shareholder with an agreement in place to form a JV with Cascadero Copper.
Significant results are summarized in the tables below, with complete results available on the Company website at Golden Minerals – Sarita Este Property.
EDITOR’S COMMENTARY
“This project is very well situated as it is located very close to First Quantum’s Taca Taca project and Fortuna Silver’s Lindero gold mine. An interesting target due to its potential is Kachi located in the northern corner, where the mineralization is porphyry copper type, where 4 drill holes of 1498 meters have been carried out, finding that it is a low grade area, and could be located on the periphery of a larger body, but only with a more aggressive future campaign could we delimit the body and give us a better idea of the real size of the body, since the current results only show that 2 of the 4 drill holes have interesting copper values, this data It is insufficient to affirm that it is an economically profitable deposit.”
Table 1 : Significant results drilled at Sico epithermal target
Note: Intervals in the table represent drilled length. Intervals and grades have been rounded to either one or two decimal places. Columns may not total due to rounding.
Table 2: Drill hole collar locations
Coordinates are in POSGAR 94 zone Argentina 2
“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 Chief Executive Officer of Golden Minerals.
About Sarita Este
Sarita Este is a gold-silver prospect located in the Puna region in Salta province, north-west Argentina. The property is 100% owned by Cascadero Copper Corporation (CCD) through its subsidiary Salta Geothermal S.A. 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 $2.5M over four years and forming a JV with Cascadero Copper.
Review by Qualified Person and Quality Control
The technical contents of this press release have been reviewed by Aaron Amoroso, a Qualified Person for the purposes of NI 43-101. Mr. Amoroso has over 15 years of mineral exploration experience and is a Qualified Person member of the American Institute of Professional Geologists (QP Geology & Ore Reserves, 01548QP).
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.
(Source: Press Releases – www.goldenminerals.com/news/golden-minerals-drills-525m-grading-149-gt-au-at-sarita-este-prospect-in-argentina)
Please send your press releases to press@miningnewspaper.com or juan.lamadrid@miningnewspaper.com