Golden Minerals Reports Year-End 2017 Results
Golden Minerals Company has today announced financial results for the full year ending December 31, 2017.
Golden Minerals Company has today announced financial results for the full year ending December 31, 2017.
Morgan J. Poliquin, President and CEO of Almadex noted, This financing will enable Almadex to continue with its active drill program at the El Cobre project while the spinout transaction progresses, and will also situate Spinco with a healthy treasury post-completion of the corporate reorganization in order that Spinco management can pursue the next discovery for the group.
Brian Robertson, President and CEO commented, These high grade drill results over long intervals demonstrate the continuity of the high- grade mineralization outlined by previous drilling. The results also highlight the potential for significantly increasing both the tonnage and grade of the maiden mineral resource estimate for the El Dorado / Juan Bran zone. The Eldorado Dike Contact zone has been outlined over 330 metres along strike with core widths up to 46.0 metres and remains open for expansion.
Thomas Atkins, President and CEO of Mammoth commented on drill results stating: “We continue to be very pleased with the results from this drill program. I can’t stress enough the steep learning curve we’re climbing with each hole we drill and as we continue to intersect mineralization we continue to unravel the controls to the mineralization at Tenoriba. The objective of this drill program is to test for the first time the depth extension of various areas of surface mineralization along portions of a 6 kilometre trend identified by Mammoth and how these intersections fit into the large High Sulphidation system at Tenoriba. These results assist the company in identifying characteristics and continuity at depth of potentially economical surface mineralization along this 6 kilometre trend and position us for follow-up drilling to identify a mineral resource at Tenoriba.”
Arturo Préstamo, CEO of Santacruz, stated “This services agreement is an important step for the Company as it will provide working capital that will allow us to expand the Veta Grande Project into a significant silver producer, whilst increasing the Rosario Project production during the year.”
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Goldens President and Chief Executive Officer, Warren M. Rehn, notes, We are pleased with the results of this independently?prepared estimate, as it presents a potentially viable mining opportunity for us in El Quevars Yaxtché deposit. Potential to increase the size of the Yaxtché deposit remains, as the deposit is open to the west. Additional high?grade silver targets identified by drilling exist in several areas near Yaxtché. We plan to expand on this new resource to enhance the potential viability of a possible operation….
J.D. Poliquin, chairman of Almaden stated, We are very encouraged by these results which are beginning to define a new mineralised zone well outside of the PFS pit and resource area. These results demonstrate the potential for discovery on the project and for the Ixtaca mine plan to grow with continued exploration. Ongoing drilling will continue to seek more such zones even as the engineering work and Feasibility Study progress.
David Coburn, Gainey Capitals CEO stated, We are confident this processing partnership will allow Gainey to establish a longer term tolling strategy utilizing our 300 TPD gravity/ flotation mill. Positive cash flow generated from a potential agreement will allow the company to move forward more aggressively on exploration projects we are currently considering.
We are pleased that our recent exploration program confirms our geological model that the Veta Grande vein continues to pinch and swell along strike. IP and drilling have delineated a coincident target with strong potential to host a virgin silver shoot, stated Peter J. Hawley, President and CEO. While it is still in its early days, this proves that the Veta Grandes potential continues along its 4.4km of strike length yet to be tested. We are excited with the target and look forward to drilling it.
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