Golden Minerals drills 3 m of 626 g/t Ag at El Quevar

2019-09-12 06:57 ET - News Release

Ms. Karen Winkler reports

GOLDEN MINERALS FINDS NEW SILVER ZONE AND REPORTS DRILL RESULTS FROM EL QUEVAR 2019 DRILL CAMPAIGN

Golden Minerals Company has released final results from the 2019 drilling program conducted at its El Quevar silver property located in Salta province, Argentina. Three thousand four metres were drilled in 19 holes.

A new shallow high-grade zone was partially outlined in the Vince area about two kilometres southwest of the known Yaxtche deposit. Four drill holes cut silver intercepts with grades of 500 to over 600 grams per tonne (g/t) silver (Ag) over widths of one to four metres. These results extend a historical drill intercept by about 200 metres northeast along strike. The zone is open to the north.

Other significant results of the program include a 2.1 m interval grading 340 g/t Ag in Yaxtche East. This hole represents an approximate 50 m stepout from previous drilling and demonstrates the potential to add to the mineral resources in the northeast sector of the Yaxtche deposit. Drilling at the Argentina prospect located approximately one kilometre east of Yaxtche has also returned silver values in one drill hole, with two m of 358 g/t Ag. These results coincide with previous drilling in the area (eight m of 779 g/t Ag) and are considered encouraging for the area to host mineralization of potential economic significance.

The Yaxtche deposit is an intermediate-sulphidation epithermal silver-gold system within the Quevar volcanic complex. All holes drilled to date have intercepted highly altered dacitic and volcaniclastic units with mineralization occurring within an envelope of advanced argillic alteration typical of this deposit type. Outside of the Yaxtche area there are expansive zones of hydrothermal alteration which are considered highly prospective for additional mineralization.

The drilling program commenced in late February, 2019, with the goals of extending the strike length of the Yaxtche deposit and testing prospective targets outside of the current mineral resource area. The currently defined resource includes over 45 million ounces of indicated silver resources at an average grade of 482 g/t silver and covers only the 20-hectare Yaxtche deposit area within the property's expansive 57,000-hectare boundaries.

Significant intercepts from the 19 completed holes of the 2019 drilling program include:

Vince area:

• 658 g/t Ag over 1.0 m;
• 306 g/t Ag over 4.0 m;
• 513 g/t Ag over 1.0 m;
• 626 g/t Ag over 3.0 m;
• 605 g/t Ag over 1.9 m.

Argentina area:

• 565 g/t Ag over 1.0 m;
• 341 g/t Ag over 1.9 m.

Yaxtche East area:

• 340 g/t Ag over 2.1 m;
• 249 g/t Ag over 0.8 m;
• 246 g/t Ag over 2.0 m;
• 218 g/t Ag over 2.0 m;
• 194 g/t Ag over 1.1 m;
• 174 g/t Ag over 7.0 m;
• 1.0 g/t gold (Au) over 11.6 m.

The associated table summarizes the results received to date related to the 2019 drilling program.

 SIGNIFICANT INTERVALS -- EL QUEVAR DRILL RESULTS SEPTEMBER, 2019
      
Hole ID     Total depth     From       To   Width         Ag     Au
                    (m)      (m)      (m)     (m)      (g/t)  (g/t)

QVD-389           139.6                    no significant intervals
QVD-390            82.6                    no significant intervals
QVD-391           171.4    92.00    94.00    2.00        246   0.01
QVD-391           171.4   101.50   103.50    2.00        120   0.04
QVD-391           171.4   141.00   148.30    7.30        174   0.03
incl.             171.4   141.00   143.00    2.00        218   0.05
incl.             171.4   146.20   148.30    2.10        340   0.05
incl.             171.4   147.40   148.30    0.90        465   0.08
QVD-392            76.9    21.00    21.80    0.80        249   0.16
QVD-393           257.3                    no significant intervals
QVD-394           180.6   146.00   157.60   11.60         71   1.04
incl.             180.6   147.00   148.10    1.10        194   0.92
incl.             180.6   149.30   157.60    8.30         63   1.22
QVD-395           104.5                    no significant intervals
QVD-396           150.4    71.00    73.00    2.00        358   0.01
incl.             150.4    72.00    73.00    1.00        565   0.01
QVD-396           150.4    77.00    78.00    1.00        279   0.01
QVD-396           150.4    79.00    80.90    1.90        341   0.01
QVD-397           115.4                    no significant intervals
QVD-398           145.9                    no significant intervals
QVD-399           328.8                    no significant intervals
QVD-400           506.0                    no significant intervals
QVD-401           251.0                    no significant intervals
QVD-402            59.0    20.00    34.00   14.00        206   0.01
incl.              59.0    20.00    24.00    4.00        306   0.01
incl.              59.0    20.00    26.00    6.00        324   0.01
incl.              59.0    25.00    26.00    1.00        658   0.01
QVD-403            55.0    10.75    17.50    6.75        271   0.01
incl.              55.0    10.75    11.75    1.00        513   0.01
QVD-404            79.0                    no significant intervals
QVD-405            67.0    42.15    50.20    8.05        299   0.01
incl.              67.0    46.00    49.00    3.00        626   0.01
incl.              67.0    46.00    50.20    4.20        504   0.01
QVD-406           111.0                    no significant intervals
QVD-407            51.0    14.65    16.50    1.85        605   0.01

Note 
100 g/t Ag and/or 1.0 g/t Au cut-off grades used. Some drill 
hole intervals have been composited from multiple adjacent samples, 
and in some cases may contain up to one metre of core with less 
than 100 g/t Ag if the overall interval weighted average is greater 
than 100 g/t Ag. Individual assay intervals will be reported on the 
Golden Minerals website. Significant interval is defined as at 
least 0.8 m measured width of at least 100 g/t Ag, or 1.0 g/t 
Au. All widths reported as measured.

Review by qualified person and quality control

The technical contents of this press release have been reviewed by Warren M. Rehn, MSc, a qualified person for the purposes of Canadian National Instrument 43-101. Mr. Rehn has over 38 years of mineral exploration experience and is a QP member of the Mining and Metallurgical Society of America.

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. Core is photographed and sawn in half with one-half retained in a secured facility for verification purposes. Sample preparation (crushing and pulverizing) is performed at an independent ISO 9001:2001-certified laboratory in Mendoza, Argentina. Prepared samples are direct shipped to an ISO 9001:2001-certified laboratory in Peru.

About Golden Minerals Company

Golden Minerals is a Delaware corporation based in Golden, Colo. The company is primarily focused on advancing its El Quevar silver property in Argentina and on acquiring and advancing mining properties in Mexico and Nevada.

We seek Safe Harbor.

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