We own or control a portfolio of around a dozen precious metals projects located in Mexico, Argentina and Nevada (USA).
Resource Tables Technical Reports
Rodeo is an 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 started gold-silver production in January 2021. The project broke even in its first quarter of production and generated $12.3 million in 2021 net operating margin ($5.7 million in 2022) that is used to support work at other projects. We estimate Rodeo will operate through mid-2023, at which time we will have a stockpile of lower grade material that could be processed, depending on metals prices and anticipated processing costs.
The Velardeña Properties contain two underground silver and gold mines and two processing mills. In mid-2022, we completed limited scale mining activities for use in final optimization of the bio-oxidation plant design and flotation separation studies that will indicate how we can effectively separate the gold-bearing minerals into the pyrite-arsenopyrite concentrate that is proposed for processing in the bio-oxidation circuit. This testing met productivity targets but not dilution targets; therefore, we are continuing to evaluate modified mine plans and mining techniques to address dilution issues including new test work on automated ore sorting which shows potential to allow for upgrading mined material by rejecting waste rock after crushing. We expect to have the results of these studies in mid-2023.
Yoquivo is a district-scale silver-gold exploration project (Chihuahua State, Mexico) 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 have completed three drill programs, with reported results (Jan. 2022, Feb. 2022, Aug. 2022) indicating the presence of potentially economic grades on several veins in this multi-vein system property. We released an initial Mineral Resource Estimate for Yoquivo in Q1 2023. Golden holds an option to purchase the 7 concessions that comprise the Yoquivo property, totaling 1,975 hectares, subject to 2 to 3% NSR royalty interests on production, capped at $2.8 million.
El Quevar is a district-scale, advanced exploration-stage silver project in Salta, Argentina. We announced a positive PEA for Quever in 2018 and have had an ongoing earn-in agreement with Barrick Gold since 2020. Barrick has the opportunity to earn up to a 70% interest by spending $10M+ and completing a Pre-Feasibility study demonstrating a profitable operation with 2M+ AuEq oz within 8 years.
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. Golden & Fabled Silver Gold Corp. signed an agreement in 2020 giving Fabled an option to purchase Golden's interest in the property for $4M plus a royalty stream. In January 2023, the property reverted to Golden after Fabled defaulted on the agreement.
We added the Sarita Este gold-silver prospect in Salta, Argentina and the Sand Canyon gold-silver project in Nevada to our portfolio of properties in 2019. We also own or control additional exploration properties, most of which lie in and around the traditional silver-producing areas in Mexico.
We hold an option to acquire 51% of the Sarita Este concession from Cascadero Minerals Corp. We've completed three successful drill programs at this project and are planning to conduct additional drilling. We have notified Cascadero of our intention to proceed with the joint venture as 51% owners of the concession.