Golden Minerals, a mining company focused on precious metals exploration and development, has announced the release of the initial resource estimate for its Yoquivo silver-gold project located in Chihuahua, Mexico. The company’s preliminary findings indicate promising mineralization potential, highlighting the project’s significant prospects for future development.
The Yoquivo project covers an expansive land package of approximately 1,800 hectares and is situated in the Sierra Madre Occidental mountain range, known for its prolific mining history and abundant mineral deposits. Golden Minerals has been actively exploring the area since acquiring the project in 2018, conducting extensive geological mapping, geochemical sampling, and diamond drilling.
The recently released resource estimate for Yoquivo demonstrates the presence of high-grade silver and gold mineralization. The report delineates an indicated resource of 2.98 million ounces of silver equivalent, comprising 930,000 ounces of silver and 42,000 ounces of gold, along with an inferred resource of 470,000 ounces of silver equivalent, containing 140,000 ounces of silver and 3,800 ounces of gold.
The initial resource estimate is a significant milestone for Golden Minerals, as it provides a solid foundation for the project’s further development. The company plans to conduct additional exploration and drilling activities to further delineate and expand the mineral resources at Yoquivo. The goal is to ultimately advance the project towards a preliminary economic assessment and potentially a feasibility study, which will provide valuable insights into the project’s economic viability and potential profitability.
Warren Rehn, President and Chief Executive Officer of Golden Minerals, expressed his enthusiasm for the initial resource estimate, stating that the results exceeded the company’s expectations. He further emphasized the project’s attractive characteristics, including its high-grade nature and the potential for additional discoveries in the surrounding area.
The Yoquivo project is strategically located near several other notable mines in the region, including Agnico Eagle Mines’ Pinos Altos and Creston Mascota projects, as well as Coeur Mining’s Palmarejo mine. This proximity to existing operations provides Golden Minerals with infrastructure advantages and the potential for cost synergies in the future.
Golden Minerals plans to continue its exploration efforts at Yoquivo, with the objective of delineating additional resources and advancing the project towards production. The company aims to leverage the robust silver and gold market conditions, driven by strong demand and limited supply, to maximize the value of the project for its shareholders.
As Golden Minerals progresses with the Yoquivo project, it remains committed to conducting its activities in an environmentally responsible manner and engaging with local stakeholders to ensure the project’s social and economic benefits are realized. With the positive initial resource estimate, the company is well-positioned to unlock the full potential of the Yoquivo silver-gold project and create significant value for all stakeholders involved.
