"The promising initial results from our systematic exploration program have led to the discovery of several previously unknown veins which have returned high-grade silver-gold and base metal mineralization, stated Warren Rehn, President and Chief Executive Officer of Golden Minerals, and we believe additional high-grade mineralization may well be discovered at Santa Maria. I want to emphasize that Golden Minerals is a debt-free and well-funded company intent on advancing our projects in Mexico and Argentina. In addition to the forthcoming PEA update for Santa Maria, we expect to issue a positive PEA on El Quevar within the next few months.
Kootenay President and CEO James McDonald states, "We are very excited by these results that further underscore the inherent potential for new discoveries and to substantially increase the size and scope of our established silver resource. In particular, drilling on Las Carolinas to the south of the deposit hit consistent grades and intervals of silver extending 100 meters on strike and 200 meters down dip. Drilling on the La Borracha Zone located contiguously north of the deposit further confirmed this targets large bulk tonnage potential, which now extends a full 1,100 meters on strike from the resource boundary
Riversides President and CEO, John-Mark Staude, stated:We are pleased to have this new option partnership with Sinaloa Resources who will progress the exploration and move toward drilling several of the targets our 2018 generative exploration program has developed. We applied our property and technical databases to select, acquire, and work up the La Silla Project to now a joint venture option level with firm work commitments and payments in shares and cash back to Riverside. We are excited to help operationally by working with Sinaloa Resources on rapidly progressing the testing of targets and expanding on the recently sampled extensions of high-grade gold and silver veins. We look forward to being a shareholder and creating significant shareholder value together by applying our combined technical and operational expertise.
We are pleased with the success of the results from the El Chirumbo area and the Guadalupe Vein, which is a longer-term target and provides further confidence to continue exploration. said David Wolfin, President and CEO. There is untapped potential on the property, and we are eager to plan further exploration and drill programs.
N. Eric Fier, CPG, P.Eng, and CEO, remarked, We continue to be successful with our expansion drilling program with further high-grade intercepts in multiple veins at Las Chispas. This most recent drilling of the Babicanora FW Vein has intercepted high-grade precious metal mineralization along a drill-tested strike length of 250 metres, expanded from the previous 150 metres. We are currently step out drilling with nine core rigs at the Babicanora Norte, Granaditas, Luigi and Babicanora veins including Area 51 southeast extension that has been recently permitted for work. We are systematically working towards an updated resource for Q3, 2018.
Brian Robertson, President & CEO, stated, Our on-going field exploration work continues to deliver high-grade assays from historical mines and well as new discoveries within the Pueblo Nuevo mineralized corridor. These results from several high- grade veins clearly demonstrate the extent of the high- grade mineralization at Pueblo Nuevo.
Golden Goliath Resources Ltd. (TSX.V GNG ) (US: GGTH-F) is pleased to announce that the 2018 summer work program is now starting. The Company is now in the planning stage for a future possible drilling program on its 100% owned San Timoteo property located in Chihuahua, Mexico. Personnel are now mobilizing to the San Timoteo property to continue the target selection process, including evaluating what road work would be needed to drill the various targets. Previous compilation work on San Timoteo has already defined over 40 drill targets. The current work will prioritize these and the Company intends to drill the top priority target when funding is available.
Carlos Silva, COO of Santacruz, commented; "The Company is excited about the discovery of the three high grade veins at the Armados mine which appear to be within about 20 meters of each other and approximately parallel to the Armados vein. This discovery supports our view of the strong mineral potential of this historical mining district of Zacatecas."