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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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Message: ECU Silver Receives Assays for the Deep Drilling in Santa Juana Mine

2.07 g/t gold is 0.07 oz, not 0.7 oz. This brings total down to $375/tonne which is still quite good for a 6 meter wide vein. I also do not know if the new sulphide mill will have a copper circuit, so the $56 of copper in this intercept might be a write off. After deducting the copper and using a 70% recovery rate, this material should yield $224 per tonne. I would think anything over $70 per tonne for such a wide vein would be profitable, although costs would likely increase due to the great depth.

It is my understanding that this drill hole veered off and was 200 or 300 meters deeper than Mr. Roy wanted it, so I am sure management is happy they hit anything at all in such an off target hole, and they are probably adjusting their model since they hit mineralization at such a great depth. Total resource is a function of length x width x depth x grade, and ECU has shown increases in width and depth with this intercept while hitting a grade which is close to the average for the narrow veins above. The next step is to drill sister holes and increase the length of this strike.

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