Golden Minerals Company, a Colorado-based precious metal exploration company has announced to have expanded its drilling project at Rodeo Mine, Mexico in a bid to improve its resources. The exploration drilling will reportedly be done for around 2000 meters at near-surface targets adjoining the current pit.
Moreover, the project is anticipated to prolong the functionality of the Rodeo Gold Mine beyond the estimated period of 2.5 years. The results will be seen during the next several months and newly obtained resources will be integrated into Golden Mineral’s production plans, sources claimed.
Chief Executive Officer and President of Golden Minerals Warren Rehn reportedly said that the recent mining activities at Rodeo Gold Mine have unveiled expansion targets that could significantly extend Rodeo Mine’s life. He added that the previous drilling activities revealed that the high-grade mineralization was barricaded at the north with two drill holes.
It has now been observed that the two drill holes missed the highly mineralized area, the CEO claimed. The newly drilled open pit targets have allowed Golden Minerals to better understand the geology of the overall deposits and is leading them directly to current drill targets.
It is to be noted that Golden Minerals had begun its mining activities at Rodeo Gold Mine in December 2020. It began processing over 200 tonnes per day by the middle of January 2021, both on time and budget. Their first gold pour was done at the end of January 2021.
Golden Minerals recently announced that it would start processing at its full capacity of 450 tonnes per day. These activities are on schedule and are projected to be completed by the end of March 2021.
The company has been pouring gold weekly and has sold and exported its first gold-silver bars consignment. Sources confirmed that Golden Minerals is on schedule to meet its annual forecast production figure of around 12,000 to 14,000 gold ounces by the end of 2021.
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