# Golden Minerals Provides Exploration Properties Update

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc

Original source: https://money.tmx.com/en/quote/AUMN/news/6707829295418700/golden-minerals-provides-exploration-properties-update

Publisher: tmx

Original announcement: 2016-08-11T10:45:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- 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

Narrative sentiment: 0.20 · Bullish

## Minestarters Atlas 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 factor: New drill results from Santa Maria support previous resource estimates and will inform a PEA.

- Positive factor: Earn-in agreement for Celaya brings in a partner and exploration funding.

- Positive factor: Strong QA/QC procedures are disclosed for drill results.

- Positive factor: True widths are reported for drill intercepts.

- Negative factor: San Luis del Cordero project terminated due to unfavorable exploration results.

- Negative factor: 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 Disclosed**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: 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 Drilling**

Polarity: neutral

Definition: 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 Deposit**

Polarity: neutral

Story-specific tag

Definition: 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 Downgrade**

Polarity: negative

Story-specific tag

Definition: 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)

### SM16-01

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-0)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Low gold grade for underground epithermal deposit.

- Negative factor: Narrow intercept width.

Evidence · table

> 0.52

Context: 1.7

### SM16-01

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-1)

Santa Maria · silver

#### 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 factor: Moderate silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Narrow intercept width.

Evidence · table

> 103

Context: 1.7

### SM16-02

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-2)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very low gold grade for underground epithermal deposit.

- Negative factor: Narrow intercept width.

Evidence · table

> 0.28

Context: 1.8

### SM16-02

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-3)

Santa Maria · silver

#### 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 factor: Strong silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Narrow intercept width.

Evidence · table

> 361

Context: 1.8

### SM16-02

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-4)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Low gold grade for underground epithermal deposit.

Evidence · table

> 0.96

Context: 5.4

### SM16-02

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-5)

Santa Maria · silver

#### 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 factor: Strong silver grade for underground epithermal deposit.

- Positive factor: Reasonable intercept width.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

Evidence · table

> 326

Context: 5.4

### SM16-03

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-6)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Low gold grade for underground epithermal deposit.

Evidence · table

> 0.81

Context: 4.1

### SM16-03

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-7)

Santa Maria · silver

#### 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 factor: Strong silver grade for underground epithermal deposit.

- Positive factor: Reasonable intercept width.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

Evidence · table

> 456

Context: 4.1

### SM16-04

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-8)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Low gold grade for underground epithermal deposit.

- Negative factor: Narrow intercept width.

Evidence · table

> 0.54

Context: 2.2

### SM16-04

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-9)

Santa Maria · silver

#### 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 factor: Strong silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Narrow intercept width.

Evidence · table

> 289

Context: 2.2

### SM16-05

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-10)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Low gold grade for underground epithermal deposit.

- Negative factor: Very narrow intercept width.

Evidence · table

> 0.96

Context: 0.8

### SM16-05

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-11)

Santa Maria · silver

#### 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 factor: Strong silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very narrow intercept width.

Evidence · table

> 488

Context: 0.8

### SM16-05

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-12)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Low gold grade for underground epithermal deposit.

- Negative factor: Narrow intercept width.

Evidence · table

> 1.01

Context: 1.8

### SM16-05

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-13)

Santa Maria · silver

#### 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 factor: Strong silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Narrow intercept width.

Evidence · table

> 290

Context: 1.8

### SM16-07

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-14)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Low gold grade for underground epithermal deposit.

- Negative factor: Narrow intercept width.

Evidence · table

> 1.51

Context: 2.2

### SM16-07

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-15)

Santa Maria · silver

#### 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 factor: Strong silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Narrow intercept width.

Evidence · table

> 336

Context: 2.2

### SM16-08

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-16)

Santa Maria · gold

#### 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 factor: Weak gold grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very narrow intercept width.

Evidence · table

> 3.15

Context: 0.5

### SM16-08

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-17)

Santa Maria · silver

#### 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 factor: Strong silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very narrow intercept width.

Evidence · table

> 373

Context: 0.5

### SM16-09

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-18)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Low gold grade for underground epithermal deposit.

- Negative factor: Very narrow intercept width.

Evidence · table

> 1.31

Context: 0.8

### SM16-09

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-19)

Santa Maria · silver

#### 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 factor: Exceptional silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very narrow intercept width.

Evidence · table

> 574

Context: 0.8

### SM16-10

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-20)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very low gold grade for underground epithermal deposit.

- Negative factor: Narrow intercept width.

Evidence · table

> 0.09

Context: 2.0

### SM16-10

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-21)

Santa Maria · silver

#### 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 factor: Weak silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Narrow intercept width.

Evidence · table

> 48

Context: 2.0

### SM16-11

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-22)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very low gold grade for underground epithermal deposit.

- Negative factor: Narrow intercept width.

Evidence · table

> 0.26

Context: 1.6

### SM16-11

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-23)

Santa Maria · silver

#### 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 factor: Strong silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Narrow intercept width.

Evidence · table

> 300

Context: 1.6

### SM16-11

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-24)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very low gold grade for underground epithermal deposit.

- Negative factor: Narrow intercept width.

Evidence · table

> 0.28

Context: 2.0

### SM16-11

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-25)

Santa Maria · silver

#### 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 factor: Moderate silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Narrow intercept width.

Evidence · table

> 149

Context: 2.0

### SM16-12

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-26)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Low gold grade for underground epithermal deposit.

- Negative factor: Very narrow intercept width.

Evidence · table

> 1.70

Context: 0.8

### SM16-12

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-27)

Santa Maria · silver

#### 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 factor: Weak silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very narrow intercept width.

Evidence · table

> 76

Context: 0.8

### SM16-15

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-28)

Santa Maria · gold

#### 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 factor: Weak gold grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Narrow intercept width.

Evidence · table

> 5.79

Context: 1.7

### SM16-15

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-29)

Santa Maria · silver

#### 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 factor: Exceptional silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Narrow intercept width.

Evidence · table

> 991

Context: 1.7

### SM16-15

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-30)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Low gold grade for underground epithermal deposit.

- Negative factor: Narrow intercept width.

Evidence · table

> 0.99

Context: 1.5

### SM16-15

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-31)

Santa Maria · silver

#### 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 factor: Moderate silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Narrow intercept width.

Evidence · table

> 173

Context: 1.5

### SM16-16

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-32)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very low gold grade for underground epithermal deposit.

- Negative factor: Very narrow intercept width.

Evidence · table

> 0.29

Context: 1.0

### SM16-16

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-33)

Santa Maria · silver

#### 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 factor: Moderate silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very narrow intercept width.

Evidence · table

> 145

Context: 1.0

### SM16-16

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-34)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very low gold grade for underground epithermal deposit.

- Negative factor: Very narrow intercept width.

Evidence · table

> 0.12

Context: 1.1

### SM16-16

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-35)

Santa Maria · silver

#### 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 factor: Moderate silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very narrow intercept width.

Evidence · table

> 161

Context: 1.1

### SM16-18

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-36)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Low gold grade for underground epithermal deposit.

- Negative factor: Very narrow intercept width.

Evidence · table

> 1.45

Context: 1.4

### SM16-18

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-37)

Santa Maria · silver

#### 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 factor: Exceptional silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very narrow intercept width.

Evidence · table

> 1,221

Context: 1.4

### SM16-18

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-38)

Santa Maria · gold

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very low gold grade for underground epithermal deposit.

- Negative factor: Very narrow intercept width.

Evidence · table

> 0.42

Context: 1.3

### SM16-18

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-39)

Santa Maria · silver

#### 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 factor: Strong silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very narrow intercept width.

Evidence · table

> 342

Context: 1.3

### SM16-19

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-40)

Santa Maria · gold

Historical result

Needs review: historical\_restatement

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Low gold grade for underground epithermal deposit.

- Negative factor: Narrow intercept width.

Evidence · table

> 1.30

Context: 1.8

### SM16-19

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-41)

Santa Maria · silver

Historical result

Needs review: historical\_restatement

#### 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 factor: Exceptional silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Narrow intercept width.

Evidence · table

> 549

Context: 1.8

### SM16-22

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-42)

Santa Maria · gold

Historical result

Needs review: historical\_restatement

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Low gold grade for underground epithermal deposit.

- Negative factor: Very narrow intercept width.

Evidence · table

> 1.11

Context: 1.2

### SM16-22

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-43)

Santa Maria · silver

Historical result

Needs review: historical\_restatement

#### 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 factor: Strong silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very narrow intercept width.

Evidence · table

> 222

Context: 1.2

### SM16-23

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-44)

Santa Maria · gold

Historical result

Needs review: historical\_restatement

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Very low gold grade for underground epithermal deposit.

- Negative factor: Narrow intercept width.

Evidence · table

> 0.41

Context: 2.1

### SM16-23

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-45)

Santa Maria · silver

Historical result

Needs review: historical\_restatement

#### 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 factor: Exceptional silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Narrow intercept width.

Evidence · table

> 552

Context: 2.1

### SM16-23

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-46)

Santa Maria · gold

Historical result

Needs review: historical\_restatement

#### 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 factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Low gold grade for underground epithermal deposit.

- Negative factor: Narrow intercept width.

Evidence · table

> 0.82

Context: 2.2

### SM16-23

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-47)

Santa Maria · silver

Historical result

Needs review: historical\_restatement

#### 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 factor: Strong silver grade for underground epithermal deposit.

- Positive factor: True width disclosed.

- Positive factor: QA/QC procedures disclosed.

- Negative factor: Narrow intercept width.

Evidence · table

> 298

Context: 2.2

### Fact 49

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-48)

Celaya

#### 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 factor: Upfront cash payment received.

- Positive factor: Significant exploration commitment from partner de-risks the project.

- Positive factor: Partner can earn a substantial interest, indicating confidence in the project.

- Negative factor: 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 50

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-49)

San Diego

#### 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 factor: Generates cash and equity from a non-core asset.

- Positive factor: Retains a royalty interest for future upside.

- Negative factor: 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 51

[Link to this fact](https://atlas-staging.minestarters.com/news/golden-minerals-provides-exploration-properties-update--f329f922-ed9c-44d3-ab80-5ba8324cf6cc#fact-drill-facts-50)

San Luis del Cordero

#### 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 factor: Exploration results did not expand or advance the resource estimate.

- Negative factor: Project termination due to unfavorable evaluation.

- Negative factor: 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.