Location Chihuahua State, Mexico
Land Area 101 hectares
Property Description Silver and gold underground mine
Metals Silver and gold
Ownership Project sold in December 2023
Project Stage Advanced Exploration
Current Activities & Work
Permitting Exploration and mining permits in place
On December 1, 2023, Golden Minerals completed the previously-announced sale of its interests in the Santa Maria gold-silver property located in Chihuahua State, Mexico to Transformaciones y Servicios Metalurgicos S.A. DE C.V. (“TSM”).
Upon closing, the Company has received (all figures in USD) $1.50 million plus $0.24 million in Value Added Tax (“VAT”). The Company is permitted to keep the VAT and use it to offset its current VAT receivable.
In addition, sales terms include:
The Santa Maria vein deposit is hosted in Cretaceous Mescalera Group sediments associated with Tertiary felsic dikes and partially covered by post-mineral basalt. Two distinct veins have been recognized and modeled. The main Santa Maria vein averages 1.5 meters in thickness, strikes east-west and dips north at about 65 degrees. The secondary vein is a hanging-wall split and averages about 0.5 meters in width with a south dip. The veins are epithermal quartz veins characterized by low temperature chalcedonic quartz in the near surface portions and commonly with a healed brecciated texture. Sphalerite and galena are observed in portions of the vein with amounts generally increasing with depth. Oxidation of the vein is observed to about 75 meters depth in most areas; in the eastern extension of the vein the depth of oxidation increases to more than 200 meters below surface.
Santa Maria 2017-18 Drilling Results
Tetra Tech, NI 43-101 Technical Report - Updated Preliminary Economic Assessment, Sept. 14, 2018