We own or control a portfolio of over a dozen precious metals projects located in Mexico, Argentina and Nevada (USA). We intend to bring two Mexican projects into production:
Resource Tables Technical Reports
Rodeo is a high-grade, open pit gold-silver mine located about 1.5 hours via road from our Velardeña Properties. We began excavation at Rodeo in late 2020 and commenced gold-silver production in January 2021. The project is expected to generate over $25 million in free cash flow over 2.25 years (per its April 2020 PEA; assumes prices of $1,622/oz Au & $14.38/oz Ag) that can be used in part to fund a startup of production at the larger Velardeña Properties. We began a drill program in Q1 2021 aimed at expanding Rodeo's resource.
The Velardeña Properties contain two underground silver and gold mines and two processing mills. We announced successful metallurgical test work on pyrite-arsenopyrite flotation concentrate studies using a bio-oxidation ("BIOX") gold recovery process, and a PEA incorporating the BIOX technology was published in May 2020. We are now accelerating plans to bring Velardeña into production, potentially in late 2021-2022.
El Quevar is a district-scale, advanced exploration-stage silver project in Salta, Argentina. We have announced a positive PEA (2018) and earn-in agreement with Barrick Gold (2020) for El Quevar.
Santa Maria is an underground silver and gold mine with a positive (Sept. 2018) PEA, low capital cost, and a potential source of near-term production. In December 2020, Golden & Fabled Silver Gold Corp. signed an option agreement giving Fabled a two-year option to purchase Golden's interest in the property for $4M plus a royalty stream.
Yoquivo is a district-scale gold-silver exploration project with historic high-grade silver production. Our claims cover an underexplored epithermal precious metals district with excellent access in the productive part of the Sierra Madre. We completed a 3,400-meter, 15-hole drill campaign in late Q4 2020 and announced promising results form the program in Q1 2021. We are planning a follow on drill program that could start in Q2 2021.
We added the Sand Canyon gold-silver project in Nevada to our portfolio of properties in 2019. We also own or control additional silver and gold properties located in or near the traditional silver-producing areas of Mexico.