Golden Minerals Reports Full Year 2021 Results
March 23, 2022
Golden Minerals Company is pleased to report financial results and a business summary for the full fiscal year ending December 31, 2021.
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Golden Minerals Company is pleased to report financial results and a business summary for the full fiscal year ending December 31, 2021.
“Mololoa continues to contribute strong results with high grade intercepts in addition to wider intercepts of potentially bulk mineable material,” said Brad Langille, President and CEO. “We believe these results will contribute to our goal of aggressively expanding our mineral resources at Los Ricos in 2022.”
The proceeds raised from the Financing will be used to satisfy the USD$5,000,000 cash consideration in connection with the acquisition of the Esperanza Gold Project from Alamos Gold Inc., begin advancing the Esperanza Gold Project towards production, fund the ongoing drill program at the Company’s existing silver project and for general working capital purposes.
The Company plans to use the net proceeds of the Offering to pay the US$35 million cash consideration payable to SSR Mining Inc. on completion of the Company’s acquisition of the Pitarrilla project in Durango State, Mexico and for the Company’s general corporate purposes and working capital.
“The Cervantes project continues to deliver wide intervals of oxide gold mineralization that remain open in all directions.”
“These intersections continue to expand the gold mineralization at California. This discovery further advances the California gold zone in demonstrating the open pit heap leach gold potential of the project. The Cervantes 2021-2022 RC drill program continues to return strong gold grades over broad widths in every drill hole reported to date.”
Golden Minerals Company announces that a Technical Report has been completed for each of its Rodeo open pit gold-silver mine and its Velardeña Properties, both located in Durango State, Mexico.
Amalia is a large system with multiple vein structures (Amalia, California & El Cuervo) over 10km of combined strike with multiple targets on each structure. Compelling wide and high-grade mineralization has been intersected on the 3 principal drill targets tested to date.
“Drill Holes 296 and 319 are the first holes drilled just north of the Espuelas Canyon on the Sooy Vein. Historical mining at El Tigre on the Sooy Vein stopped just south of the Espuelas Canyon when the miners lost the vein while drifting.”
Mr. Davila previously joined the Advisory Board of GSilver in February 2021, and subsequently became a full member of the Board of Directors on May 12, 2021. In his new role as President, Mr. Davila will spearhead the Company’s plan to transform GSilver into a significant Mexican precious metals producer.
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