US-based miner Golden Minerals Company has completed the sale of its Yoquivo gold-silver project in Chihuahua State, Mexico, to Advance Metals, an Australian mining company.
The deal, first agreed upon last month, has now been finalised with a total consideration of $570,000, plus value-added tax (VAT).
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The Yoquivo project was owned by Minera de Cordilleras, a wholly owned subsidiary of Golden Minerals.
With the sale now complete, Golden Minerals is set to finalise the transfer of the Yoquivo concessions once Advance Metals establishes a Mexican subsidiary.
The Yoquivo project, spanning 1,975 hectares is an epithermal vein district near Ocampo. The property comprises seven concessions under an option to purchase, NSRs capped at $2.8m.
The transaction involved a series of payments from Advance Metals to Golden Minerals. Initially, a non-refundable cash payment of $20,000, plus VAT, was made on 24 October 2024, granting Advance Metals a seven-day exclusive period for due diligence.
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By GlobalDataThis was followed by a payment of $275,000, plus VAT, on 1 November 2024, and a final payment of the same amount on 21 November 2024.
The Yoquivo property features an erosional “window” of andesites beneath Oligocene-aged rhyolites. Several silver-gold bearing epithermal veins have been mapped and sampled, with the San Francisco and Pertenencia veins being the most significant.
These veins have been traced and sampled along a 2km strike length. Additionally, multiple splays and parallel structures have been identified and sampled.
Golden Minerals conducted a 5,700m Phase III drill programme in 2022 to refine vein-hosted mineralisation at the property.
