{"id":1177685,"date":"2020-04-13T13:52:02","date_gmt":"2020-04-13T18:52:02","guid":{"rendered":"https:\/\/www.mining.com\/?p=1020140"},"modified":"2020-04-13T13:52:02","modified_gmt":"2020-04-13T18:52:02","slug":"barrick-to-explore-el-quevar-in-argentina","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1177685","title":{"rendered":"Barrick to explore El Quevar in Argentina"},"content":{"rendered":"<p>Barrick Gold (TSX: ABX, NYSE: GOLD) <a rel=\"noreferrer noopener\" aria-label=\"has acquired (opens in a new tab)\" href=\"https:\/\/www.goldenminerals.com\/news\/2020\/golden-minerals-signs-earn-in-agreement-with-barrick-gold-corporation-at-el-quevar\" >has acquired<\/a> an option to earn a 70% interest in Golden Minerals&#8217; (NYSE: AUMN, TSX: AUMN) El Quevar silver project in the Salta Province of Argentina.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Barrick will purchase 1 million Golden Minerals shares pursuant to a private placement transaction at $0.21 a share. <\/p>\n<p>As part of the agreement, Barrick has to spend $10 million on exploration, deliver an NI 43-101-compliant pre-feasibility study describing a potentially profitable operation with mineral resources of not less than two-million gold equivalent ounces, and deliver a written notice of exercise to Golden within eight years.<\/p>\n<p>\u201cBarrick\u2019s interest in exploring the El Quevar district underscores the excellent potential of the high sulphidation epithermal systems at El Quevar to host additional important discoveries,&#8221; Golden Minerals president and CEO\u00a0Warren Rehn said in a statement. <\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> Golden will form a new entity (NewCo) that will hold the El Quevar properties.\u00a0 Upon earn-in by Barrick, the NewCo will be 70% owned by Barrick and 30% owned by Golden <\/p>\n<\/blockquote>\n<\/figure>\n<p>Golden will form a new entity (NewCo) that will hold the El Quevar properties.\u00a0Upon earn-in by Barrick, the NewCo will be 70% owned by Barrick and 30% owned by Golden.<\/p>\n<p>In 2018, Golden released a\u00a0preliminary economic assessment that outlined potential for a six-year mining operation producing 29 million oz. of payable silver at an average LOM grade of 409 g\/t. The PEA shows a $45 million net present value at a 5% discount rate at\u00a0a price of $16.66\/Ag oz.<\/p>\n<p>In late March 2019, Golden began a 3,000-meter\u00a0drill program\u00a0to further\u00a0define\u00a0the potential for additional mineralized material in the Yaxtch\u00e9 deposit and surrounding area. <\/p>\n<p>That program identified a new area of high-grade silver.<\/p>\n<p>Golden also announced on Monday that has <a rel=\"noreferrer noopener\" aria-label=\"begun the suspension (opens in a new tab)\" href=\"https:\/\/www.goldenminerals.com\/news\/golden-minerals-announces-updated-covid-19-related-activities\" >suspended<\/a> mining activities at its Velarde\u00f1a silver-gold properties in Mexico, in compliance with the Mexican government&#8217;s directive to suspend all non-essential activities until April 30 in response to the covid-19 pandemic. <\/p>\n<p>Golden\u2019s stock traded up 4.8% midday Monday on the NYSE. The company\u2019s market value is $28.8 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Company has acquired an option to earn a 70% interest in Golden Minerals&#8217; silver project.<\/p>\n","protected":false},"author":110,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4,2640],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1177685"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1177685"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1177685\/revisions"}],"predecessor-version":[{"id":1177782,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1177685\/revisions\/1177782"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1177685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1177685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1177685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}