Mr. Warren Rehn reports
GOLDEN MINERALS ACQUIRES NAVEGANTES SILVER EXPLORATION PROJECT
Golden Minerals Company has acquired the Navegantes project in southern Chihuahua state, Mexico, where recent surface and underground sampling has returned high-grade silver values from a series of epithermal silver-base metal veins outcropping on the property.
Navegantes sampling highlights:
- 1 metre assaying 1,585.5 grams per tonne silver;
- 1.45 m assaying 759.2 g/t Ag;
- 1.1 m assaying 638.9 g/t Ag;
- 2.1 m assaying 472 g/t Ag.
The project consists of six concessions totalling 521 hectares and is located approximately 60 kilometres northwest of the San Francisco del Oro-Santa Barbara district where the company's Santa Maria project is located. Initial sampling and mapping have identified extensive zones of oxidized and leached epithermal quartz veining over an 800 m strike length that has delivered high silver grades.
Warren Rehn, president and chief executive officer of Golden Minerals, said: "Navegantes is an exciting prospect that hasn't been systematically explored even though it is located in an area of several modern major discoveries. We were pleasantly surprised by the high-grade surface silver assays from heavily weathered and leached veins outcropping on the surface.
"This project was identified by our generative exploration team that is searching for underexplored projects in central Mexico to allow the company to add high-quality, early-stage projects that can be advanced quickly to create value for our shareholders."
The mineralization occurs as iron oxides, within quartz veins that range up to two m in width and are exposed over strike lengths in excess of 800 m. Based on historic mines and prospects in the San Francisco del Oro-Santa Barbara and Hidalgo de Parral districts, we believe there exists excellent potential to define significant silver mineralization at depth.
Golden Minerals collected 103 surface and underground chip channel and grab samples from vein exposures, mine workings and mine dumps. Results from this initial sampling program are summarized in the associated table, with surface sample results shown in an image on the company's website.
RESULTS FROM THE 2018 NAVEGANTES SAMPLING PROGRAM
Channel ID Width Ag Pb Zn
(m) (g/t) (ppm) (ppm)
NAV-U-01 1.5 14 74 339
NAV-U-02 1.3 6 33 221
NAV-U-03 1.2 8 25 145
NAV-U-04 2.5 73 28 157
NAV-U-05 0.8 519 1,739 328
NAV-U-06 1.1 352 1,055 1,295
NAV-U-07 1.2 178 113 706
NAV-U-08 1.0 1,586 70 175
incl. 0.7 1,965 69 189
NAV-U-09 1.5 759 69 79
incl. 0.4 1,600 72 79
Nav-01 1.3 85 15,804 1,055
Nav-02 2.2 16 125 133
Nav-03 2.1 472 22 199
incl. 0.9 608 15 200
Nav-04 2.0 201 837 421
incl. 1.0 268 655 186
Nav-05 1.5 37 103 95
Nav-06 1.4 261 28 218
inc. 0.6 406 33 261
Nav-07 1.4 48 257 223
Nav-08 1.5 73 851 179
Nav-09 1.7 14 325 384
Nav-10 1.1 639 31 104
incl. 0.6 1,135 43 165
Nav-16 197 7,690 687
Nav-17 205 5,270 522
Nav-18 438 4,030 458
Nav-19 606 2,160 355
Nav-20 951 4,870 446
Nav-21 475 469 251
Nav-31 358 22 209
Nav-52 285 2,180 637
Nav-53 211 944 386
Nav-51 0.3 134 1,920 165
Nav-61 0.9 268 28 147
SP-1 0.9 278 26 159
Next steps
Golden is currently conducting additional mapping and sampling on the property to identify prospective targets for follow-up testing by trenching and/or drilling.
About Navegantes
Golden Minerals holds an option to purchase six concessions totalling 521 hectares by paying $400,000 over three years. The property is located in southwestern Chihuahua state, in northern Mexico. The project covers two vein systems (Navegantes and San Pedro-San Francisco) as well as a number of smaller subsidiary veins. The property is located 68 km northwest of Grupo Mexico's Santa Barbara operation (6,000 tonnes per day) and 63 km northwest of Frisco's San Francisco mine (4,000 tonnes per day). The project is also 61 km south of Sunshine Mining's Los Gatos project. The Navegantes property covers an underexplored epithermal precious silver-base metal district that shows similar mineralization to the adjacent Parral mining district. The company, through systematic exploration, hopes to identify significant high-grade mineralization.
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 33 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 Chihuahua or Zacatecas, Mexico. Prepared samples are direct shipped to an ISO 9001:2001-certified laboratory in Canada.
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 in acquiring and advancing mining properties in Mexico with emphasis on areas near its Velardena processing plants.
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