GOLDEN, Colo., Jan. 13, 2021 (GLOBE NEWSWIRE) — Golden Minerals Firm (NYSE American and TSX: AUMN) (“Golden Minerals”, “Golden” or “the Firm”) is happy to announce it has begun gold manufacturing at its Rodeo gold mission situated in Durango State, Mexico, roughly two weeks forward of schedule and on price range.
The Firm transported the primary a great deal of Rodeo’s gold-containing materials by street to its close by Velardeña oxide mill for processing final week. The mill has begun processing the fabric and anticipates a primary pour of gold-silver doré bars inside two weeks.
Initially, Rodeo materials might be processed at a fee of about 200 tonnes per day (“tpd”), operating by way of the presently operational 10.5’ by 13’ ball mill. Golden is within the course of of putting in a further 8’ by 22’ ball mill at Velardeña, as beforehand communicated, which is designed to extend processing throughput by growing grinding capability for the silicified materials from Rodeo. This second ball mill will function in sequence after the first ball mill. The Firm estimates the regrind mill might be full and able to run close to the top of the primary quarter 2021, at which level each day mill throughput is predicted to extend to about 450 tpd.
Golden Minerals President and Chief Govt Officer, Warren Rehn, commented at this time, “I’m more than happy to announce that Golden Minerals has formally transitioned to gold-silver producer from exploration firm. Regardless of the Covid-19-related uncertainties of the previous 12 months, we’ve been capable of develop this mission and put it into manufacturing forward of schedule and on price range. Rodeo is predicted to generate important free money circulation for us that might be used, partially, to additional work at our bigger, silver-gold Velardeña Properties. Rodeo’s manufacturing is step one towards the Firm reaching sustainable, long-term profitability.”
About Golden Minerals
Golden Minerals is a Delaware company based mostly in Golden, Colorado. The Firm is primarily centered on advancing its Rodeo and Velardeña properties in Mexico and, by way of partner-funded exploration, its El Quevar silver property in Argentina, in addition to buying and advancing mining properties in Mexico, Argentina, and Nevada.
This press launch comprises forward-looking statements throughout the which means of Part 27A of the Securities Act of 1933, as amended and Part 21E of the Securities Alternate Act of 1934, as amended, and relevant Canadian securities laws, together with statements relating to expectations surrounding the timing of gold-silver doré manufacturing on the Velardeña oxide mill; charges of processing of Rodeo materials on the Velardeña oxide mill; and the anticipated timing of set up and operation of the brand new regrind ball mill on the Velardeña oxide mill and its anticipated enchancment of recoveries and throughput of Rodeo materials. These statements are topic to dangers and uncertainties, together with the reasonability of the financial assumptions on the foundation of the Rodeo Preliminary Financial Evaluation and technical report and the opposite financial projections of the Rodeo mine; modifications in interpretations of geological, geostatistical, metallurgical, mining or processing data; interpretations of the knowledge ensuing from exploration, evaluation or mining and processing expertise; fluctuations in change charges and modifications in political circumstances, tax, royalty, environmental or different legal guidelines in Mexico; fluctuations in silver or gold costs; and the timing length and total affect of the COVID-19 pandemic, together with the potential future re-suspension of non-essential actions in Mexico, together with mining. Golden Minerals assumes no obligation to replace this data. Extra dangers regarding Golden Minerals could also be discovered within the periodic and present stories filed with the SEC by Golden Minerals, together with the Firm’s Annual Report on Kind 10-Ok for the 12 months ended December 31, 2019.
For extra data please go to http://www.goldenminerals.com/ or contact:
Golden Minerals Firm
Karen Winkler, Director of Investor Relations
SOURCE: Golden Minerals Firm