Chihuahua State, Mexico
Gold-silver property near Ocampo mining district
Gold and silver
Option to purchase 7 concessions
Current Activities & Work
Completed initial Mineral Resource estimate and Technical Report (Q1 2023)
Drill permit received Q1 2019
Yoquivo is an exploration stage gold-silver project located in northwest Chihuahua State, Mexico. The Yoquivo District is a past producing, bonanza grade epithermal vein gold and silver district located 35 kilometers southeast of the Ocampo Mining District. Our claims cover an underexplored epithermal precious metals district that shows similar mineralization to the adjacent Ocampo mining district, and Golden Minerals, through systematic exploration, hopes to identify significant high-grade mineralization. During 2022, we completed payments required under Yoquivo’s two option agreements and now hold 100% ownership of the Yoquivo concessions subject to royalty interests between 2% and 3% net smelter return payable on production to third parties and capped at $2.8 million in the aggregate.
Since 2020, exploration and delineation drilling of 16,565 meters in 70 holes has advanced Yoquivo to this stage.
In March 2023, we announced completion of an initial Mineral Resource estimate and Technical Report for Yoquivo. See "Resources & Geology" tab for details.
The Company plans to continue drilling with the goal of expanding the resource as funding allows.
We completed a phase 3 drill program in July 2022 that totaled approximately 5,700 meters in 24 drill holes. This program was designed to further delineate the previously encountered vein-hosted mineralized intervals. In Q4 2002, the company began a fourth round of drilling of around 3,000 meters. We plan to complete a maiden gold-silver resource estimate for release in Q1 2023. Highlights from phase 3 drilling included:
We conducted a phase 2 drill program in Q4 2021. The program included 3,949 meters comprised of 21 holes exploring the Pertenencia, Esperanza and Dolar vein systems. Drill holes were designed to follow up on the high-grade zones intersected by our 2020 drill program and to explore additional veins to identify new high-grade zones. We reported results from the first five holes of the program on January 27, 2022 and another nine holes on February 16, 2022.
Summary assay results from the 2021 drill program include:
Previously, we completed a first phase, 3,400-meter, 15-hole drill program in Q4 2020, exploring the principal veins at Yoquivo. The exploration program was designed to target the Pertenencia, San Francisco and Esperanza vein systems to better understand the nature and distribution of the gold-silver mineralization. Of substantial interest was the discovery of a new vein parallel to and east of the Pertenencia vein. While the other principal veins have been partially mined from surface to the water table (up to 130 meters) in the case of San Francisco and Pertenencia, and over a much less extensive vertical interval in the case of El Dolar and Esperanza, the new vein is unmined from surface. Highlights included the following:
In October 2018, we announced high-grade assays from a recent surface sampling program at Yoquivo.
Sample highlights are shown below:
The Yoquivo district is located on the headwaters of the Mayo River in the northern part of the Sierra Madre Occidental, approximately 45 kilometers (“km”) west of San Juanito. The property is located 32km south of Agnico Eagle’s Pinos Altos Mine (2018 production est. 181,000 oz Au1) and 35km southeast of the Ocampo mining district (a gold producer sold to Minera Frisco for (US) $750M in 20122).
1 Pinos Altos est. 2018 production from Agnico Eagle Website
2 Aurico Gold to sell the Ocampo Mine to Minera Frisco for US$750M
We hold an option to purchase seven concessions totaling 1,975 hectares for payments totaling $0.75 million over four years and subject to a 2% NSR royalty on production capped at $2 million.
The Yoquivo property covers an erosional ‘window’ of andesites beneath Oligocene-aged rhyolites. Multiple silver-gold bearing epithermal veins have been mapped and sampled. The two most important veins are the San Francisco and Pertenencia veins, both of which have been mapped and sampled over a two-kilometer strike length. Numerous splays and parallel structures have also been identified and sampled.
In March 2023, we announced completion of an initial Mineral Resource estimate and Technical Report for Yoquivo. The Mineral Resource estimate is reported in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources and Mineral Reserves using the 2019 edition of the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines.The estimate was prepared by the independent engineering firm Mine Technical Services (“MTS”), with an effective date of February 24, 2023.
Mineral Resource table notes:
Yoquivo 2022 (Third) Drill Program, Complete Results, reported February 07, 2023
Yoquivo 2021 (Second) Drill Program – Complete Results, reported March 3, 2022
Yoquivo 2020 (First) Drill Program - Results Collars and Assays, reported January 27, 2021
Yoquivo Surface Samples - 2018
Historic Drill Data for Yoquivo Project; West Timmins Resources, 2007
Tetra Tech, Yoquivo Project, Technical Report Summary on Mineral Resource Estimate, February 24, 2023. Prepared under SEC S-K 1300 guidelines.
Mine Technical Services, Ltd., NI 43-101 Technical Report on Mineral Resource Estimate, February 24, 2023. Prepared under Canadian NI 43-101 guidelines.