Yoquivo

Overview

Yoquivo is an exploration-stage gold-silver project located in northwest Chihuahua State, Mexico. In October 2017 we acquired the right to purchase concessions covering the Yoquivo District, Ocampo Municipality, Chihuahua through an option agreement. The Yoquivo District is a past producing, bonanza grade epithermal vein gold and silver district located 35 kilometers southeast of the Ocampo Mining District. The claims cover an underexplored epithermal precious metals district that shows similar mineralization to the adjacent Ocampo mining district, and Golden Minerals, through systematic exploration, hopes to identify significant high-grade mineralization.

Exploration Activity

We completed a phase 3 drill program in July 2022 that totaled approximately 5,700 meters in 24 drill holes. This program was designed to further delineate the previously encountered vein-hosted mineralized intervals.  In Q4 2002, the company began a fourth round of drilling of around 3,000 meters. We plan to complete a maiden gold-silver resource estimate for release in Q1 2023. Highlights from phase 3 drilling included:

• 2.2m @ 10.21 g/t Au and 138.8 g/t Ag
• 0.4m @ 30.80 g/t Au and 5260.0 g/t Ag
• 4.2m @ 0.16 g/t Au and 229.2 g/t Ag
• 80.1m @ 0.89 g/t Au and 64.5 g/t Ag
• 1.7m @ 0.13 g/t Au, 354.6 g/t Ag

We conducted a phase 2 drill program in Q4 2021. The program included 3,949 meters comprised of 21 holes exploring the Pertenencia, Esperanza and Dolar vein systems. Drill holes were designed to follow up on the high-grade zones intersected by our 2020 drill program and to explore additional veins to identify new high-grade zones. We reported results from the first five holes of the program on January 27, 2022 and another nine holes on February 16, 2022.

Summary assay results from the 2021 drill program include:

Previously, we completed a first phase, 3,400-meter, 15-hole drill program in Q4 2020, exploring the principal veins at Yoquivo. The exploration program was designed to target the Pertenencia, San Francisco and Esperanza vein systems to better understand the nature and distribution of the gold-silver mineralization. Of substantial interest was the discovery of a new vein parallel to and east of the Pertenencia vein.  While the other principal veins have been partially mined from surface to the water table (up to 130 meters) in the case of San Francisco and Pertenencia, and over a much less extensive vertical interval in the case of El Dolar and Esperanza, the new vein is unmined from surface. Highlights included the following:

• YQ_20_001  Pertenencia Vein
  • 1.3m grading 5.69 g/t Au and 223 g/t Ag (650g/t AgEq) within
  • 4.2m grading 2.34 g/t Au and 190 g/t Ag (365 g/t AgEq)
• YQ_20_002 Pertenencia Vein
  • 0.6m grading 1.14 g/t Au and 423 g/t Ag (509 g/t AgEq) within
  • 1.9m grading 0.45 g/t Au and 150 g/t Ag (184 g/t AgEq)
• YQ_20_006 Esperanza Vein
  • 1m grading 5.0 g/t Au and 118 g/t Ag (524 g/t AgEq) within
  • 3.6m grading 1.77 g/t Au and 49 g/t Ag (190 g/t AgEq)
• YQ_20_007  Esperanza Vein
  • 0.4m grading 8.76 g/t Au and 60 g/t Ag (717 AgEq) within
  • 2.8m grading 1.2 g/t Au, 65 g/t Ag (155 g/t AgEq)
• YQ_20_010    New Vein
  • 0.2m grading 15.4 g/t Au and 1150 g/t Ag (2305 g/t AgEq) within
  • 5.4m grading 1.9 g/t Au and 135 g/t Ag (278 g/t AgEq)
• YQ_20_011   New Vein
  • 3.0m grading 4.2 g/t Au and 734 g/t Ag (1049 g/t AgEq) within
  • 12.3m grading 1.3 g/t Au and 225 g/t Ag (323 g/t AgEq)
• YQ_20_012    New Vein
  • 0.3m grading 135.5 g/t Au and 7480 g/t Ag (17,643 g/t AgEq) within
  • 1.2m grading 34 g/t Au and 1895 g/t Ag (4445 g/t AgEq)

In October 2018, we announced high-grade assays from a recent surface sampling program at Yoquivo. 

Sample highlights are shown below:

• 6m assaying 5.9 grams per tonne (“g/t”) Au and 937 g/t Ag from the Pertenencia Vein
• 4m assaying 2.3 g/t Au and 489 g/t Ag from the Central Breccia Zone
• 2.9m assaying 2.3 g/t Au and 345 g/t Ag from the San Francisco Vein
• 6m assaying 1.7 g/t Au and 399 g/t Ag from the Pertenencia Vein

Location, Access And Facilities

The Yoquivo district is located on the headwaters of the Mayo River in the northern part of the Sierra Madre Occidental, approximately 45 kilometers (“km”) west of San Juanito. The property is located 32km south of Agnico Eagle’s Pinos Altos Mine (2018 production est. 181,000 oz Au¹) and 35km southeast of the Ocampo mining district (a gold producer sold to Minera Frisco for (US) $750M in 2012²).

¹ Pinos Altos est. 2018 production from Agnico Eagle Website
² Aurico Gold to sell the Ocampo Mine to Minera Frisco for US$750M

Title And Ownership

We hold an option to purchase seven concessions totaling 1,975 hectares for payments totaling $0.75 million over four years and subject to a 2% NSR royalty on production capped at $2 million.

The Yoquivo property covers an erosional ‘window’ of andesites beneath Oligocene-aged rhyolites. Multiple silver-gold bearing epithermal veins have been mapped and sampled. The two most important veins are the San Francisco and Pertenencia veins, both of which have been mapped and sampled over a two-kilometer strike length. Numerous splays and parallel structures have also been identified and sampled.

Yoquivo Drill Results

Yoquivo 2022 (Third) Drill Program, Complete Results, reported September 12, 2022

Yoquivo 2021 (Second) Drill Program – Complete Results, reported March 3, 2022

Yoquivo 2020 (First) Drill Program - Results Collars and Assays, reported January 27, 2021

Yoquivo Surface Samples - 2018

Historic Drill Data for Yoquivo Project; West Timmins Resources, 2007

Yoquivo Maps

Technical Reports

Coming soon.