Projects

Yoquivo

Snapshot
Project Details
Resources & Geology
Maps & Drill Results
Technical Reports
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Snapshot

Location
Chihuahua State, Mexico

Land Area
1,975 hectares

Property Description
Gold-silver property near Ocampo mining district

Metals
Gold and silver

Ownership
Option to purchase 7 concessions

Project Stage
Exploration

Current Activities & Work
Completed phase 3 drill program, July 2022

Permitting
Drill permit received Q1 2019

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. As of August 2022, we've not received complete assay results. We expct this round of drilling will give us sufficient information to estimate an initial gold-silver resource later in 2022. Highlights from the drilling include:

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:

Hole ID	From (m)	To (m)	Interval (m)	Au g/t	Ag g/t	Target
YQ_021_001	239.5	241.2	1.7	0.09	66.8	Pertenencia Vein
including	239.5	239.9	0.4	0.19	138.0	Pertenencia Vein
YQ_021_001	243.1	243.6	0.5	0.27	329.0	Pertenencia Vein
YQ_021_002	165.0	167.4	2.4	0.51	706.0	Pertenencia Vein
YQ_021_002	204.7	213.1	8.5	0.16	90.9	Pertenencia Vein
including	204.7	207.0	2.4	0.18	115.7	Pertenencia Vein
including	209.5	209.9	0.4	0.67	309.0	Pertenencia Vein
YQ_021_003	57.5	58.7	1.2	0.05	25.9	Pertenencia Vein
YQ_021_004	100.2	101.7	1.5	4.02	1473.2	Pertenencia Vein
YQ_021_004	124.4	126.0	1.6	0.33	109.8	Pertenencia Vein
including	125.8	126.0	0.3	0.92	313.0	Pertenencia Vein
YQ_021_004	131.5	135.0	3.5	0.49	158.0	Pertenencia Vein
including	131.5	131.8	0.3	1.67	578.0	Pertenencia Vein
YQ_021_004	139.1	141.4	2.4	1.03	266.6	Pertenencia Vein
including	139.7	140.1	0.4	5.15	1320.0	Pertenencia Vein
YQ_021_004	194.5	198.0	3.5	0.04	179.2	Pertenencia Vein
including	196.9	197.4	0.5	0.11	904.0	Pertenencia Vein
YQ_021_005	159.0	159.6	0.6	0.40	221.0	Pertenencia Vein
YQ_021_006	64.8	70.9	6.2	17.19	2403.5	Pertenencia Vein
including	64.8	66.7	2.0	50.40	6989.6	Pertenencia Vein
including	65.2	65.5	0.4	188.50	21447.0	Pertenencia Vein
YQ_021_007	74.3	75.0	0.7	3.40	12.6	Pertenencia Vein
YQ_021_008	118.1	119.6	1.5	1.80	2.6	Dolar Vein
YQ_021_009	163.6	164.7	1.1	0.18	20.4	Dolar Vein
YQ_021_010	122.8	124.0	1.2	0.85	6.7	Esperanza Vein
YQ_021_011	42.6	42.9	0.3	1.20	155.0	Dolar Vein
YQ_021_012	54.0	54.5	0.5	0.74	105.0	Dolar Vein
YQ_021_012	58.7	59.2	0.6	0.52	130.0	Dolar Vein
YQ_021_012	92.7	95.1	2.4	3.90	328.0	Dolar Dos Vein
including	93.1	94.1	1.0	9.23	763.0	Dolar Dos Vein
YQ_021_013	182.5	183.7	1.2	0.69	19.1	Dolar Vein
YQ_021_014	137.4	138.3	1.0	0.24	75.7	Esperanza HW Vein

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).

¹Pinos Altos est. 2018 production from Agnico Eagle Website
²Aurico 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.