Golden Minerals Commences Drilling at its Desierto Property, Argentina
Golden begins drilling at its Argentina project to test gold extensions, despite ongoing liquidity concerns.
Golden Minerals Company (AUMN) has launched a 1,250-meter diamond drill program at its Desierto exploration concessions in Argentina. The initiative, which carries a budget of $1.088 million, is scheduled to run for four to six weeks, with completion expected in Q4 2026. Full results are anticipated in Q1 2027.
The drilling targets three specific prospects: Sico, which is testing down-dip gold extensions from the adjacent Sarita property; Cobre, which is testing below-surface potential of a high-grade epithermal quartz vein; and Iceberg, which is testing an alteration zone contiguous with First Quantum Minerals’ Taca Taca deposit. Historical data from the adjacent Sarita property shows intercepts up to 28.2 meters at 1.37 g/t Au, while grab samples from the Cobre target returned values up to 45.8 g/t Au.
The Desierto concessions are held 66 2/3% by Golden Minerals and 33 1/3% by Cascadero Copper, which recently announced the sale of its interests to Lumina Copper Corporation, an affiliate of First Quantum Minerals.
Golden Minerals Company (AUMN) has begun drilling at its Cascadero project, marking a routine operational milestone following the prior announcement of the program’s scope and budget. The activity confirms the execution of a previously disclosed $1.088 million exploration budget and contains no unexpected financial or operational surprises.
The strategic context of the Cascadero Copper sale to a First Quantum affiliate is notable but does not immediately alter the financial or operational trajectory of this specific drill program. Given the company's pre-revenue status and reliance on external financing, drill results will serve as the primary catalyst for valuation, though the start of drilling itself is incremental. The update aligns with management's stated plan to focus on organic growth in Argentina and Nevada following the strategic exit from Mexico.
Golden Minerals Company (AUMN) is an exploration-stage mining company focused on gold, silver, and copper projects in Argentina and Nevada. Its flagship operation is the Desierto/Sarita Este complex in the Puna region of Salta, Argentina, which covers 3,335 hectares. The project is strategically located adjacent to First Quantum Minerals' Taca Taca copper porphyry deposit and 56 km north of Fortuna Mining's Lindero gold porphyry mine.
The company has completed a strategic exit from its Mexican operations, divesting the Velardeña assets and Minera William to focus capital on its South American and North American exploration portfolio. In Nevada, the Sand Canyon asset is an exploration-stage gold-silver project located 18 miles northwest of the historic Sleeper gold mine, currently held in a 60/40 joint venture with Golden Gryphon USA.