Golden Minerals Provides Exploration Properties Update

Original announcement by tmx on

Company
Golden Minerals Company
Ticker
AUMN
Exchange
TSX
Region
Chihuahua, Mexico
Primary commodity
Gold
Secondary commodities
Silver
Document categories
Drill results, Agreement transaction
Extracted
2026-08-24 23:16:36 UTC

Analysis by Minestarters Atlas

Minestarters Atlas analysis

Summary

Golden Minerals provided an update on its exploration properties, highlighting new drill results from the Santa Maria project that support previous resource estimates and will inform a Preliminary Economic Assessment. The company also announced an earn-in agreement for its Celaya project with Electrum Global Holdings, which includes an upfront payment and exploration expenditures. Conversely, Golden Minerals will terminate its farm-in arrangement for the San Luis del Cordero project due to unfavorable exploration results.

Reasoning: Golden Minerals provided a mixed update, with new drill results from Santa Maria supporting resource evaluation and a positive earn-in agreement for Celaya, but also the termination of the San Luis del Cordero project due to disappointing results. While some silver grades are high, narrow widths and low gold grades temper the overall positive impact of the drill results.

Positive factors

  • New drill results from Santa Maria support previous resource estimates and will inform a PEA.
  • Earn-in agreement for Celaya brings in a partner and exploration funding.
  • Strong QA/QC procedures are disclosed for drill results.
  • True widths are reported for drill intercepts.

Negative factors

  • San Luis del Cordero project terminated due to unfavorable exploration results.
  • Drill intercepts at Santa Maria are generally narrow, and gold grades are mostly low for underground mining.

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 51

Classification and evidence

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: The drill results table includes a 'True Width (m)' column, indicating that actual thickness perpendicular to structure is stated.

Evidence · table

“True Width (m)”

QA/QC Disclosedpositive

Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).

Why it applies: The release includes a dedicated 'Review by Qualified Person and Quality Control' section detailing QP sign-off, chain-of-custody, insertion of blanks, duplicates, and standards, and use of ISO 9001:2001 certified laboratories.

Evidence · text

“Review by Qualified Person and Quality Control The technical contents of this press release have been reviewed by Warren M. Rehn , M.Sc., a Qualified Person for the purposes of Canadian National Instrument 43-101. Mr. Rehn has over 33 years of mineral exploration experience and is a QP member of the Society for Mining Metallurgy and Exploration. To ensure reliable sample results, Golden Minerals uses a quality assurance/quality control program that monitors the chain-of-custody of samples and includes the insertion of blanks, duplicates and reference standards in each batch of samples. Core is photographed and sawn in half with one half retained in a secured facility for verification purposes. Sample preparation (crushing and pulverizing) is performed at an independent ISO 9001:2001 certified laboratory in Chihuahua, Mexico. Prepared samples are direct-shipped to an ISO 9001:2001 certified laboratory in Canada .”

Infill Drillingneutral

Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: The underground drilling program at Santa Maria was conducted to 'update the resource estimate and complete a Preliminary Economic Assessment', which aligns with infill or resource definition drilling.

Evidence · text

“Golden Minerals has recently completed an underground drilling program of 2,200 meters in 24 drill holes. Assay results are complete and the Company is evaluating the results to update the resource estimate and complete a Preliminary Economic Assessment during the second half of 2016.”

Epithermal Depositneutral · Story-specific tag

No canonical definition is currently available.

Why it applies: The Celaya project, described as having 'epithermal gold and silver mineralization', is mentioned in the same update, and the high silver grades in Santa Maria are characteristic of epithermal deposits, allowing for inference of this deposit type for Santa Maria.

Evidence · text

“The 6,200-hectare silver and gold Celaya project contains a strongly developed alteration system on the main Mexico Silver belt trend, located 10 kilometers east of Plata Latina's Naranjillo silver and gold discovery and 45 kilometers southeast of and on trend with the historic Guanajuato District. Golden has conducted mapping and sampling activities at Celaya since 2012. The Company completed a 2,000 meter, three-hole drilling program in 2015 that identified epithermal gold and silver mineralization beneath a portion of the widespread clay-silica alteration on the claims comprising the project.”

Category Downgradenegative · Story-specific tag

Resource confidence decreased — Measured downgraded to Indicated, or Indicated to Inferred. Unusual and concerning.

Why it applies: The San Luis del Cordero project's exploration results 'did not expand or advance the resource estimate of the previous owner' and led to the termination of the farm-in arrangement, indicating a negative re-evaluation of the resource potential.

Evidence · text

“Results did not expand or advance the resource estimate of the previous owner and the Company's evaluation indicated that further work on the project is not likely to meet near-term objectives. Golden Minerals intends to terminate the farm-in arrangement for the property in August 2016 .”

Extracted facts

Stored fact records: 51. Some facts used in scoring do not have a stored record.

Drill Results (51)

SM16-01Santa Maria · goldGrade: 0.52Grade Unit: g/tIntercept: 1.7 mView all details
Link to this fact

Identity

Hole ID
SM16-01
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
0.52
Grade Unit
g/t
Intercept
1.7 m
True Width
1.4 m
From
47.9 m
To
49.6 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-01:47.9-49.6
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 0.52 g/t over 1.7m is weak for an underground epithermal deposit, and the narrow width limits its materiality, despite the disclosure of true width and QA/QC.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Low gold grade for underground epithermal deposit.
  • Narrow intercept width.

Evidence · table

“0.52”

Context: 1.7

SM16-01Santa Maria · silverGrade: 103Grade Unit: g/tIntercept: 1.7 mView all details
Link to this fact

Identity

Hole ID
SM16-01
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
103
Grade Unit
g/t
Intercept
1.7 m
True Width
1.4 m
From
47.9 m
To
49.6 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-01:47.9-49.6
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 103 g/t over 1.7m is moderate for an underground epithermal deposit, but the narrow width limits its overall impact, despite good reporting standards.

Positive factors

  • Moderate silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Narrow intercept width.

Evidence · table

“103”

Context: 1.7

SM16-02Santa Maria · goldGrade: 0.28Grade Unit: g/tIntercept: 1.8 mView all details
Link to this fact

Identity

Hole ID
SM16-02
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
0.28
Grade Unit
g/t
Intercept
1.8 m
True Width
1.1 m
From
46 m
To
47.8 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-02:46.0-47.8
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 0.28 g/t over 1.8m is very low and not economic for an underground epithermal deposit, making this intercept of limited materiality despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very low gold grade for underground epithermal deposit.
  • Narrow intercept width.

Evidence · table

“0.28”

Context: 1.8

SM16-02Santa Maria · silverGrade: 361Grade Unit: g/tIntercept: 1.8 mView all details
Link to this fact

Identity

Hole ID
SM16-02
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
361
Grade Unit
g/t
Intercept
1.8 m
True Width
1.1 m
From
46 m
To
47.8 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-02:46.0-47.8
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 361 g/t over 1.8m is strong for an underground epithermal deposit, contributing positively to the resource update despite the narrow width.

Positive factors

  • Strong silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Narrow intercept width.

Evidence · table

“361”

Context: 1.8

SM16-02Santa Maria · goldGrade: 0.96Grade Unit: g/tIntercept: 5.4 mView all details
Link to this fact

Identity

Hole ID
SM16-02
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
0.96
Grade Unit
g/t
Intercept
5.4 m
True Width
4.2 m
From
54.1 m
To
59.5 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-02:54.1-59.5
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 0.96 g/t over 5.4m is weak for an underground epithermal deposit, limiting its positive impact despite the reasonable width and good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Low gold grade for underground epithermal deposit.

Evidence · table

“0.96”

Context: 5.4

SM16-02Santa Maria · silverGrade: 326Grade Unit: g/tIntercept: 5.4 mView all details
Link to this fact

Identity

Hole ID
SM16-02
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
326
Grade Unit
g/t
Intercept
5.4 m
True Width
4.2 m
From
54.1 m
To
59.5 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-02:54.1-59.5
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 326 g/t over 5.4m is strong for an underground epithermal deposit, and the reasonable width makes this a material intercept for the resource update.

Positive factors

  • Strong silver grade for underground epithermal deposit.
  • Reasonable intercept width.
  • True width disclosed.
  • QA/QC procedures disclosed.

Evidence · table

“326”

Context: 5.4

SM16-03Santa Maria · goldGrade: 0.81Grade Unit: g/tIntercept: 4.1 mView all details
Link to this fact

Identity

Hole ID
SM16-03
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
0.81
Grade Unit
g/t
Intercept
4.1 m
True Width
2.4 m
From
55.3 m
To
59.5 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-03:55.3-59.5
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 0.81 g/t over 4.1m is weak for an underground epithermal deposit, limiting its positive impact despite the reasonable width and good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Low gold grade for underground epithermal deposit.

Evidence · table

“0.81”

Context: 4.1

SM16-03Santa Maria · silverGrade: 456Grade Unit: g/tIntercept: 4.1 mView all details
Link to this fact

Identity

Hole ID
SM16-03
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
456
Grade Unit
g/t
Intercept
4.1 m
True Width
2.4 m
From
55.3 m
To
59.5 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-03:55.3-59.5
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 456 g/t over 4.1m is strong for an underground epithermal deposit, making this a material intercept for the resource update.

Positive factors

  • Strong silver grade for underground epithermal deposit.
  • Reasonable intercept width.
  • True width disclosed.
  • QA/QC procedures disclosed.

Evidence · table

“456”

Context: 4.1

SM16-04Santa Maria · goldGrade: 0.54Grade Unit: g/tIntercept: 2.2 mView all details
Link to this fact

Identity

Hole ID
SM16-04
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
0.54
Grade Unit
g/t
Intercept
2.2 m
True Width
1 m
From
78.3 m
To
80.5 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-04:78.3-80.5
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 0.54 g/t over 2.2m is weak for an underground epithermal deposit, and the narrow width limits its materiality, despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Low gold grade for underground epithermal deposit.
  • Narrow intercept width.

Evidence · table

“0.54”

Context: 2.2

SM16-04Santa Maria · silverGrade: 289Grade Unit: g/tIntercept: 2.2 mView all details
Link to this fact

Identity

Hole ID
SM16-04
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
289
Grade Unit
g/t
Intercept
2.2 m
True Width
1 m
From
78.3 m
To
80.5 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-04:78.3-80.5
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 289 g/t over 2.2m is strong for an underground epithermal deposit, contributing positively to the resource update despite the narrow width.

Positive factors

  • Strong silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Narrow intercept width.

Evidence · table

“289”

Context: 2.2

SM16-05Santa Maria · goldGrade: 0.96Grade Unit: g/tIntercept: 0.8 mView all details
Link to this fact

Identity

Hole ID
SM16-05
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
0.96
Grade Unit
g/t
Intercept
0.8 m
True Width
0.7 m
From
33.2 m
To
34.1 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-05:33.2-34.1
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 0.96 g/t over 0.8m is weak for an underground epithermal deposit, and the very narrow width limits its materiality, despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Low gold grade for underground epithermal deposit.
  • Very narrow intercept width.

Evidence · table

“0.96”

Context: 0.8

SM16-05Santa Maria · silverGrade: 488Grade Unit: g/tIntercept: 0.8 mView all details
Link to this fact

Identity

Hole ID
SM16-05
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
488
Grade Unit
g/t
Intercept
0.8 m
True Width
0.7 m
From
33.2 m
To
34.1 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-05:33.2-34.1
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 488 g/t over 0.8m is strong for an underground epithermal deposit, but the very narrow width limits its overall impact, despite good reporting.

Positive factors

  • Strong silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very narrow intercept width.

Evidence · table

“488”

Context: 0.8

SM16-05Santa Maria · goldGrade: 1.01Grade Unit: g/tIntercept: 1.8 mView all details
Link to this fact

Identity

Hole ID
SM16-05
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
1.01
Grade Unit
g/t
Intercept
1.8 m
True Width
1.5 m
From
48.5 m
To
50.3 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-05:48.5-50.3
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 1.01 g/t over 1.8m is weak for an underground epithermal deposit, and the narrow width limits its materiality, despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Low gold grade for underground epithermal deposit.
  • Narrow intercept width.

Evidence · table

“1.01”

Context: 1.8

SM16-05Santa Maria · silverGrade: 290Grade Unit: g/tIntercept: 1.8 mView all details
Link to this fact

Identity

Hole ID
SM16-05
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
290
Grade Unit
g/t
Intercept
1.8 m
True Width
1.5 m
From
48.5 m
To
50.3 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-05:48.5-50.3
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 290 g/t over 1.8m is strong for an underground epithermal deposit, contributing positively to the resource update despite the narrow width.

Positive factors

  • Strong silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Narrow intercept width.

Evidence · table

“290”

Context: 1.8

SM16-07Santa Maria · goldGrade: 1.51Grade Unit: g/tIntercept: 2.2 mView all details
Link to this fact

Identity

Hole ID
SM16-07
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
1.51
Grade Unit
g/t
Intercept
2.2 m
True Width
1.3 m
From
82.2 m
To
84.4 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-07:82.2-84.4
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 1.51 g/t over 2.2m is weak for an underground epithermal deposit, and the narrow width limits its materiality, despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Low gold grade for underground epithermal deposit.
  • Narrow intercept width.

Evidence · table

“1.51”

Context: 2.2

SM16-07Santa Maria · silverGrade: 336Grade Unit: g/tIntercept: 2.2 mView all details
Link to this fact

Identity

Hole ID
SM16-07
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
336
Grade Unit
g/t
Intercept
2.2 m
True Width
1.3 m
From
82.2 m
To
84.4 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-07:82.2-84.4
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 336 g/t over 2.2m is strong for an underground epithermal deposit, contributing positively to the resource update despite the narrow width.

Positive factors

  • Strong silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Narrow intercept width.

Evidence · table

“336”

Context: 2.2

SM16-08Santa Maria · goldGrade: 3.15Grade Unit: g/tIntercept: 0.5 mView all details
Link to this fact

Identity

Hole ID
SM16-08
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
3.15
Grade Unit
g/t
Intercept
0.5 m
True Width
0.4 m
From
58.4 m
To
58.9 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-08:58.4-58.9
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 3.15 g/t is weak for an underground epithermal deposit, and the very narrow width of 0.5m limits its materiality, despite good reporting.

Positive factors

  • Weak gold grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very narrow intercept width.

Evidence · table

“3.15”

Context: 0.5

SM16-08Santa Maria · silverGrade: 373Grade Unit: g/tIntercept: 0.5 mView all details
Link to this fact

Identity

Hole ID
SM16-08
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
373
Grade Unit
g/t
Intercept
0.5 m
True Width
0.4 m
From
58.4 m
To
58.9 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-08:58.4-58.9
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 373 g/t is strong for an underground epithermal deposit, but the very narrow width of 0.5m limits its overall impact, despite good reporting.

Positive factors

  • Strong silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very narrow intercept width.

Evidence · table

“373”

Context: 0.5

SM16-09Santa Maria · goldGrade: 1.31Grade Unit: g/tIntercept: 0.8 mView all details
Link to this fact

Identity

Hole ID
SM16-09
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
1.31
Grade Unit
g/t
Intercept
0.8 m
True Width
0.5 m
From
68 m
To
68.8 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-09:68.0-68.8
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 1.31 g/t over 0.8m is weak for an underground epithermal deposit, and the very narrow width limits its materiality, despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Low gold grade for underground epithermal deposit.
  • Very narrow intercept width.

Evidence · table

“1.31”

Context: 0.8

SM16-09Santa Maria · silverGrade: 574Grade Unit: g/tIntercept: 0.8 mView all details
Link to this fact

Identity

Hole ID
SM16-09
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
574
Grade Unit
g/t
Intercept
0.8 m
True Width
0.5 m
From
68 m
To
68.8 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-09:68.0-68.8
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 574 g/t is exceptional for an underground epithermal deposit, making this a material intercept despite the very narrow width of 0.8m.

Positive factors

  • Exceptional silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very narrow intercept width.

Evidence · table

“574”

Context: 0.8

SM16-10Santa Maria · goldGrade: 0.09Grade Unit: g/tIntercept: 2 mView all details
Link to this fact

Identity

Hole ID
SM16-10
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
0.09
Grade Unit
g/t
Intercept
2 m
True Width
1.3 m
From
62.5 m
To
64.5 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-10:62.5-64.5
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 0.09 g/t over 2.0m is very low and not economic for an underground epithermal deposit, making this intercept of limited materiality despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very low gold grade for underground epithermal deposit.
  • Narrow intercept width.

Evidence · table

“0.09”

Context: 2.0

SM16-10Santa Maria · silverGrade: 48Grade Unit: g/tIntercept: 2 mView all details
Link to this fact

Identity

Hole ID
SM16-10
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
48
Grade Unit
g/t
Intercept
2 m
True Width
1.3 m
From
62.5 m
To
64.5 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-10:62.5-64.5
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 48 g/t over 2.0m is weak for an underground epithermal deposit, limiting its overall impact despite good reporting.

Positive factors

  • Weak silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Narrow intercept width.

Evidence · table

“48”

Context: 2.0

SM16-11Santa Maria · goldGrade: 0.26Grade Unit: g/tIntercept: 1.6 mView all details
Link to this fact

Identity

Hole ID
SM16-11
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
0.26
Grade Unit
g/t
Intercept
1.6 m
True Width
1.4 m
From
2 m
To
3.6 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-11:2.0-3.6
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 0.26 g/t over 1.6m is very low and not economic for an underground epithermal deposit, making this intercept of limited materiality despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very low gold grade for underground epithermal deposit.
  • Narrow intercept width.

Evidence · table

“0.26”

Context: 1.6

SM16-11Santa Maria · silverGrade: 300Grade Unit: g/tIntercept: 1.6 mView all details
Link to this fact

Identity

Hole ID
SM16-11
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
300
Grade Unit
g/t
Intercept
1.6 m
True Width
1.4 m
From
2 m
To
3.6 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-11:2.0-3.6
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 300 g/t over 1.6m is strong for an underground epithermal deposit, contributing positively to the resource update despite the narrow width.

Positive factors

  • Strong silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Narrow intercept width.

Evidence · table

“300”

Context: 1.6

SM16-11Santa Maria · goldGrade: 0.28Grade Unit: g/tIntercept: 2 mView all details
Link to this fact

Identity

Hole ID
SM16-11
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
0.28
Grade Unit
g/t
Intercept
2 m
True Width
1.8 m
From
41.4 m
To
43.4 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-11:41.4-43.4
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 0.28 g/t over 2.0m is very low and not economic for an underground epithermal deposit, making this intercept of limited materiality despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very low gold grade for underground epithermal deposit.
  • Narrow intercept width.

Evidence · table

“0.28”

Context: 2.0

SM16-11Santa Maria · silverGrade: 149Grade Unit: g/tIntercept: 2 mView all details
Link to this fact

Identity

Hole ID
SM16-11
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
149
Grade Unit
g/t
Intercept
2 m
True Width
1.8 m
From
41.4 m
To
43.4 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-11:41.4-43.4
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 149 g/t over 2.0m is moderate for an underground epithermal deposit, but the narrow width limits its overall impact, despite good reporting.

Positive factors

  • Moderate silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Narrow intercept width.

Evidence · table

“149”

Context: 2.0

SM16-12Santa Maria · goldGrade: 1.7Grade Unit: g/tIntercept: 0.8 mView all details
Link to this fact

Identity

Hole ID
SM16-12
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
1.7
Grade Unit
g/t
Intercept
0.8 m
True Width
0.5 m
From
51.3 m
To
52.1 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-12:51.3-52.1
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 1.7 g/t over 0.8m is weak for an underground epithermal deposit, and the very narrow width limits its materiality, despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Low gold grade for underground epithermal deposit.
  • Very narrow intercept width.

Evidence · table

“1.70”

Context: 0.8

SM16-12Santa Maria · silverGrade: 76Grade Unit: g/tIntercept: 0.8 mView all details
Link to this fact

Identity

Hole ID
SM16-12
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
76
Grade Unit
g/t
Intercept
0.8 m
True Width
0.5 m
From
51.3 m
To
52.1 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-12:51.3-52.1
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 76 g/t over 0.8m is weak for an underground epithermal deposit, limiting its overall impact despite good reporting.

Positive factors

  • Weak silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very narrow intercept width.

Evidence · table

“76”

Context: 0.8

SM16-15Santa Maria · goldGrade: 5.79Grade Unit: g/tIntercept: 1.7 mView all details
Link to this fact

Identity

Hole ID
SM16-15
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
5.79
Grade Unit
g/t
Intercept
1.7 m
True Width
1 m
From
24.3 m
To
26 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-15:24.3-26.0
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 5.79 g/t is weak for an underground epithermal deposit, and the narrow width of 1.7m limits its materiality, despite good reporting.

Positive factors

  • Weak gold grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Narrow intercept width.

Evidence · table

“5.79”

Context: 1.7

SM16-15Santa Maria · silverGrade: 991Grade Unit: g/tIntercept: 1.7 mView all details
Link to this fact

Identity

Hole ID
SM16-15
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
991
Grade Unit
g/t
Intercept
1.7 m
True Width
1 m
From
24.3 m
To
26 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-15:24.3-26.0
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 991 g/t is exceptional for an underground epithermal deposit, making this a material intercept despite the narrow width of 1.7m.

Positive factors

  • Exceptional silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Narrow intercept width.

Evidence · table

“991”

Context: 1.7

SM16-15Santa Maria · goldGrade: 0.99Grade Unit: g/tIntercept: 1.5 mView all details
Link to this fact

Identity

Hole ID
SM16-15
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
0.99
Grade Unit
g/t
Intercept
1.5 m
True Width
1 m
From
86 m
To
87.5 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-15:86.0-87.5
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 0.99 g/t over 1.5m is weak for an underground epithermal deposit, and the narrow width limits its materiality, despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Low gold grade for underground epithermal deposit.
  • Narrow intercept width.

Evidence · table

“0.99”

Context: 1.5

SM16-15Santa Maria · silverGrade: 173Grade Unit: g/tIntercept: 1.5 mView all details
Link to this fact

Identity

Hole ID
SM16-15
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
173
Grade Unit
g/t
Intercept
1.5 m
True Width
1 m
From
86 m
To
87.5 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-15:86.0-87.5
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 173 g/t over 1.5m is moderate for an underground epithermal deposit, but the narrow width limits its overall impact, despite good reporting.

Positive factors

  • Moderate silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Narrow intercept width.

Evidence · table

“173”

Context: 1.5

SM16-16Santa Maria · goldGrade: 0.29Grade Unit: g/tIntercept: 1 mView all details
Link to this fact

Identity

Hole ID
SM16-16
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
0.29
Grade Unit
g/t
Intercept
1 m
True Width
1 m
From
45.5 m
To
46.6 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-16:45.5-46.6
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 0.29 g/t over 1.0m is very low and not economic for an underground epithermal deposit, making this intercept of limited materiality despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very low gold grade for underground epithermal deposit.
  • Very narrow intercept width.

Evidence · table

“0.29”

Context: 1.0

SM16-16Santa Maria · silverGrade: 145Grade Unit: g/tIntercept: 1 mView all details
Link to this fact

Identity

Hole ID
SM16-16
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
145
Grade Unit
g/t
Intercept
1 m
True Width
1 m
From
45.5 m
To
46.6 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-16:45.5-46.6
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 145 g/t over 1.0m is moderate for an underground epithermal deposit, but the very narrow width limits its overall impact, despite good reporting.

Positive factors

  • Moderate silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very narrow intercept width.

Evidence · table

“145”

Context: 1.0

SM16-16Santa Maria · goldGrade: 0.12Grade Unit: g/tIntercept: 1.1 mView all details
Link to this fact

Identity

Hole ID
SM16-16
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
0.12
Grade Unit
g/t
Intercept
1.1 m
True Width
1.1 m
From
51.4 m
To
52.5 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-16:51.4-52.5
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 0.12 g/t over 1.1m is very low and not economic for an underground epithermal deposit, making this intercept of limited materiality despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very low gold grade for underground epithermal deposit.
  • Very narrow intercept width.

Evidence · table

“0.12”

Context: 1.1

SM16-16Santa Maria · silverGrade: 161Grade Unit: g/tIntercept: 1.1 mView all details
Link to this fact

Identity

Hole ID
SM16-16
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
161
Grade Unit
g/t
Intercept
1.1 m
True Width
1.1 m
From
51.4 m
To
52.5 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-16:51.4-52.5
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 161 g/t over 1.1m is moderate for an underground epithermal deposit, but the very narrow width limits its overall impact, despite good reporting.

Positive factors

  • Moderate silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very narrow intercept width.

Evidence · table

“161”

Context: 1.1

SM16-18Santa Maria · goldGrade: 1.45Grade Unit: g/tIntercept: 1.4 mView all details
Link to this fact

Identity

Hole ID
SM16-18
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
1.45
Grade Unit
g/t
Intercept
1.4 m
True Width
1.3 m
From
72 m
To
73.4 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-18:72.0-73.4
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 1.45 g/t over 1.4m is weak for an underground epithermal deposit, and the very narrow width limits its materiality, despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Low gold grade for underground epithermal deposit.
  • Very narrow intercept width.

Evidence · table

“1.45”

Context: 1.4

SM16-18Santa Maria · silverGrade: 1221Grade Unit: g/tIntercept: 1.4 mView all details
Link to this fact

Identity

Hole ID
SM16-18
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
1221
Grade Unit
g/t
Intercept
1.4 m
True Width
1.3 m
From
72 m
To
73.4 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-18:72.0-73.4
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 1221 g/t is exceptional for an underground epithermal deposit, making this a material intercept despite the very narrow width of 1.4m.

Positive factors

  • Exceptional silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very narrow intercept width.

Evidence · table

“1,221”

Context: 1.4

SM16-18Santa Maria · goldGrade: 0.42Grade Unit: g/tIntercept: 1.3 mView all details
Link to this fact

Identity

Hole ID
SM16-18
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
0.42
Grade Unit
g/t
Intercept
1.3 m
True Width
1.2 m
From
78.6 m
To
79.8 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-18:78.6-79.8
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 0.42 g/t over 1.3m is very low and not economic for an underground epithermal deposit, making this intercept of limited materiality despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very low gold grade for underground epithermal deposit.
  • Very narrow intercept width.

Evidence · table

“0.42”

Context: 1.3

SM16-18Santa Maria · silverGrade: 342Grade Unit: g/tIntercept: 1.3 mView all details
Link to this fact

Identity

Hole ID
SM16-18
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
342
Grade Unit
g/t
Intercept
1.3 m
True Width
1.2 m
From
78.6 m
To
79.8 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-18:78.6-79.8
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 342 g/t over 1.3m is strong for an underground epithermal deposit, contributing positively to the resource update despite the very narrow width.

Positive factors

  • Strong silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very narrow intercept width.

Evidence · table

“342”

Context: 1.3

SM16-19Santa Maria · goldGrade: 1.3Grade Unit: g/tIntercept: 1.8 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
SM16-19
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
1.3
Grade Unit
g/t
Intercept
1.8 m
True Width
1 m
From
92 m
To
93.8 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-19:92.0-93.8
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 1.3 g/t over 1.8m is weak for an underground epithermal deposit, and the narrow width limits its materiality, despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Low gold grade for underground epithermal deposit.
  • Narrow intercept width.

Evidence · table

“1.30”

Context: 1.8

SM16-19Santa Maria · silverGrade: 549Grade Unit: g/tIntercept: 1.8 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
SM16-19
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
549
Grade Unit
g/t
Intercept
1.8 m
True Width
1 m
From
92 m
To
93.8 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-19:92.0-93.8
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 549 g/t is exceptional for an underground epithermal deposit, making this a material intercept despite the narrow width of 1.8m.

Positive factors

  • Exceptional silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Narrow intercept width.

Evidence · table

“549”

Context: 1.8

SM16-22Santa Maria · goldGrade: 1.11Grade Unit: g/tIntercept: 1.2 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
SM16-22
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
1.11
Grade Unit
g/t
Intercept
1.2 m
True Width
0.6 m
From
103.3 m
To
104.5 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-22:103.3-104.5
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 1.11 g/t over 1.2m is weak for an underground epithermal deposit, and the very narrow width limits its materiality, despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Low gold grade for underground epithermal deposit.
  • Very narrow intercept width.

Evidence · table

“1.11”

Context: 1.2

SM16-22Santa Maria · silverGrade: 222Grade Unit: g/tIntercept: 1.2 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
SM16-22
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
222
Grade Unit
g/t
Intercept
1.2 m
True Width
0.6 m
From
103.3 m
To
104.5 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-22:103.3-104.5
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 222 g/t over 1.2m is strong for an underground epithermal deposit, contributing positively to the resource update despite the very narrow width.

Positive factors

  • Strong silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very narrow intercept width.

Evidence · table

“222”

Context: 1.2

SM16-23Santa Maria · goldGrade: 0.41Grade Unit: g/tIntercept: 2.1 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
SM16-23
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
0.41
Grade Unit
g/t
Intercept
2.1 m
True Width
1.5 m
From
1.9 m
To
4 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-23:1.9-4.0
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 0.41 g/t over 2.1m is very low and not economic for an underground epithermal deposit, making this intercept of limited materiality despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Very low gold grade for underground epithermal deposit.
  • Narrow intercept width.

Evidence · table

“0.41”

Context: 2.1

SM16-23Santa Maria · silverGrade: 552Grade Unit: g/tIntercept: 2.1 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
SM16-23
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
552
Grade Unit
g/t
Intercept
2.1 m
True Width
1.5 m
From
1.9 m
To
4 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-23:1.9-4.0
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 552 g/t is exceptional for an underground epithermal deposit, making this a material intercept despite the narrow width of 2.1m.

Positive factors

  • Exceptional silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Narrow intercept width.

Evidence · table

“552”

Context: 2.1

SM16-23Santa Maria · goldGrade: 0.82Grade Unit: g/tIntercept: 2.2 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
SM16-23
Project
Santa Maria
Commodity
gold
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
0.82
Grade Unit
g/t
Intercept
2.2 m
True Width
1.6 m
From
61.7 m
To
63.8 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-23:61.7-63.8
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The gold grade of 0.82 g/t over 2.2m is weak for an underground epithermal deposit, and the narrow width limits its materiality, despite good reporting.

Positive factors

  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Low gold grade for underground epithermal deposit.
  • Narrow intercept width.

Evidence · table

“0.82”

Context: 2.2

SM16-23Santa Maria · silverGrade: 298Grade Unit: g/tIntercept: 2.2 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
SM16-23
Project
Santa Maria
Commodity
silver
Region
mexico
Reported Region
Chihuahua, Mexico
Ticker
AUMN

Geometry

Grade
298
Grade Unit
g/t
Intercept
2.2 m
True Width
1.6 m
From
61.7 m
To
63.8 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
SM16-23:61.7-63.8
Mining Method
underground

QA/QC

QA/QC Disclosed
Yes
Lab Certified
Yes
QP Signed
Yes
QA/QC Methods
blanks, duplicates, standards

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The silver grade of 298 g/t over 2.2m is strong for an underground epithermal deposit, contributing positively to the resource update despite the narrow width.

Positive factors

  • Strong silver grade for underground epithermal deposit.
  • True width disclosed.
  • QA/QC procedures disclosed.

Negative factors

  • Narrow intercept width.

Evidence · table

“298”

Context: 2.2

Fact 49CelayaView all details
Link to this fact

Identity

Project
Celaya
Ticker
AUMN

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The earn-in agreement for the Celaya project is a significant positive, providing immediate cash and substantial exploration funding from a partner, which de-risks the project for Golden Minerals.

Positive factors

  • Upfront cash payment received.
  • Significant exploration commitment from partner de-risks the project.
  • Partner can earn a substantial interest, indicating confidence in the project.

Negative factors

  • Potential for dilution if Golden Minerals does not contribute to future expenditures.

Evidence · text

“On August 2, 2016 , the Company entered into an earn-in agreement with a wholly-owned subsidiary of Electrum Global Holdings, L.P. ("Electrum") related to the Company's Celaya exploration project in Mexico. Golden Minerals received an upfront payment of $200,000 and Electrum has agreed to incur at least $0.5 million in exploration expenditures in the first year, reduced by costs previously incurred in its ongoing surface exploration program on the property. Electrum can elect to acquire an undivided 60 percent interest in a joint venture company to be formed to hold the Celaya project after incurring exploration expenditures totaling $2.5 million during the first three years of the agreement. Electrum would be the manager of the joint venture. If the Company did not contribute to additional exploration or development expenditures after the initial earn-in period, Electrum would have the right to earn an additional 20 percent interest in the joint venture company by incurring an additional $2.5 million of exploration or development expenditures over a second three year period. Following the second earn-in period, the Company could maintain its 20 percent interest or its interest could ultimately be converted into a 10 percent net profits interest.”
Fact 50San DiegoView all details
Link to this fact

Identity

Project
San Diego
Ticker
AUMN

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The sale of Golden Minerals' 50% interest in the San Diego property for cash, shares, and a royalty is a reasonable transaction for a non-operated asset, providing some immediate value and retaining future upside.

Positive factors

  • Generates cash and equity from a non-core asset.
  • Retains a royalty interest for future upside.

Negative factors

  • Sells off an asset, reducing direct exposure to potential upside.

Evidence · text

“On August 2, 2016 , the Company sold its 50 percent interest in the San Diego silver exploration property to Golden Tag Resources Ltd., the party holding the other 50 percent interest in the property. Golden Minerals received approximately $0.38 million in cash, 2.5 million shares of Golden Tag and a 2 percent net smelter return royalty on production from the San Diego property.”
Fact 51San Luis del CorderoView all details
Link to this fact

Identity

Project
San Luis del Cordero
Ticker
AUMN

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2016-08-11T00:00:00.000Z

Reasoning: The termination of the San Luis del Cordero project is a significant negative, as exploration results failed to meet objectives and did not advance the resource estimate, leading to the abandonment of the farm-in arrangement.

Negative factors

  • Exploration results did not expand or advance the resource estimate.
  • Project termination due to unfavorable evaluation.
  • Farm-in arrangement to be terminated.

Evidence · text

“Golden Minerals began a 20-hole, 4,600-meter exploration drilling program at the Santa Rosa vein of the San Luis del Cordero project in the first quarter 2016. The program was concluded in June 2016 with the final assessment of results available in July. Results did not expand or advance the resource estimate of the previous owner and the Company's evaluation indicated that further work on the project is not likely to meet near-term objectives. Golden Minerals intends to terminate the farm-in arrangement for the property in August 2016 .”

How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.