OVERVIEW AND LOCATION
The Velardeña Properties are a group of three properties, held by Golden Minerals’ wholly-owned subsidiary ECU Silver Mining, within the Velardeña mining district. The three properties are the Velardeña Property, the Chicago Property and the San Diego Property.
The Velardeña mining district is located within the municipality of Cuencamé, in the northeast quadrant of the State of Durango, Mexico. The property is situated approximately 95 km southwest of the city of Torreón in the State of Coahuila and 140 km northeast of the city of Durango, capital of the State of Durango.
The Velardeña Property is located at Latitude and Longitude coordinates 25 4’ 34”N and 103 41’ 43”W. This property contains the Santa Juana mine, which has been the focus of ECU’s mining efforts since 1995, as well as the historical Terneras, San Juanes and San Mateo mines.
The Chicago Property is located approximately 1 km south of the Velardeña property and is centred at coordinates 25 3’ 42”N and 103 41’ 46”. This property contains the historical Los Muertos-Chicago mine, the extension of which is being drilled by Golden.
The San Diego Property is situated approximately 9 km northeast of the Velardeña property. It is approximately centered at co-ordinates 25 6’ 7”N and 103 37’ 19”. This property contains the historical La Cruz-La Rata and El Trovador mines as well as a number of other shallower shafts which were sunk on narrower veins such as the Cantarranas, Montanez and El Jal. The San Diego property is also subject to a joint venture agreement between ECU and Golden Tag Resources Ltd.
ECU holds the Velardeña Properties through its 100% owned Mexican subsidiary Minera William S.A. de C.V. (Minera William). At present, the three properties comprise a total of 32 mineral concessions (20 for the Velardeña Property, 8 for the Chicago Property and 4 for the San Diego Property). The mineral concessions in each of the properties vary in size and the concessions comprising each mineral property are contiguous.