Golden Minerals Announces Formation of Sand Canyon Joint Venture
Rhea-AI Summary
Golden Minerals (OTCQB:AUMN)(TSX:AUMN) has completed the formation of Sand Canyon Explorations LLC, a Delaware joint venture with Golden Gryphon USA to advance their mining claims in Humboldt County, Nevada. Both parties executed a definitive LLC Agreement and transferred their respective claims to the new entity via quitclaim deeds.
Golden holds a 60% ownership interest in Sand Canyon and will act as initial manager, while GGUSA holds the remaining 40%. Exploration is expected to continue under an approved 2026 program and budget focused on improving geological understanding and planning future work. The Sand Canyon project is an exploration-stage gold-silver property with identified epithermal vein systems and associated geochemical anomalies. An earlier 2020 four-hole, 1,800-meter drilling program intersected narrow structures with low anomalous metals but no potentially economic precious metal concentrations. The joint venture plans additional exploration, including geophysical surveys over the next 12 months.
Positive
- 60% interest and operatorship in Sand Canyon joint venture
- Mining claims consolidated into Sand Canyon via quitclaim deeds
- Approved 2026 exploration program and budget for Sand Canyon project
- Planned 12-month exploration including geophysical surveys to refine targets
Negative
- 2020 drilling found no potentially economic precious metal concentrations
- Sand Canyon remains exploration-stage with no reported economic resources
News Market Reaction – AUMN
In the Aug 4 session, AUMN gained 14.38%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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DENVER, CO / ACCESS Newswire / August 4, 2026 / Golden Minerals Company ("Golden" or the "Company") (OTCQB:AUMN)(TSX:AUMN) is pleased to announce that it has completed the formation of Sand Canyon Explorations LLC ("Sand Canyon"), a Delaware limited liability company established as a joint venture with Golden Gryphon USA, Inc. ("GGUSA") to advance the exploration of the parties' mining claims located in Humboldt County, Nevada.
In connection with the formation of Sand Canyon, Golden and GGUSA have executed the definitive Limited Liability Company Agreement (the "LLC Agreement") and transferred their respective mining claims to Sand Canyon pursuant to quitclaim deeds. Golden holds an initial
The Company expects exploration activities to continue in accordance with the initial program and budget approved under the LLC Agreement. - The objective of the 2026 program is to enhance the geological understanding of the property, continue to evaluate its exploration potential and support the planning of future exploration programs. Additional updates regarding exploration activities will be provided as work progresses.
Sand Canyon is an exploration-stage gold-silver project located in Humboldt County, northwestern Nevada, approximately 18 miles northwest of the historic Sleeper Gold Mine. Surface work has identified a widespread system of narrow epithermal veins hosted in Miocene volcanics. Geochemical anomalies in trace elements commonly associated with high level epithermal gold and silver mineralization have been identified in rocks, soils, and plants in a number of areas. The anomalies are associated with high-level quartz veining, breccias, and iron oxides on fractures and other structures. Moderate to strong silicification, in places including barite, is observed in Permian clastic and carbonate rocks. Historic workings expose mercury mineralization in silicified limestones in the northeastern portion of the property.
In the first quarter of 2020, Golden funded an initial diamond drilling program managed by Golden Gryphon comprising four holes totaling approximately 1,800 meters and targeting surface geochemical and geophysical anomalies associated with epithermal veining observed in outcrops. The three holes drilled in the Sand Canyon target area intersected narrow vein and breccia structures with low anomalous values of silver, arsenic, antimony and molybdenum; no potentially economic concentrations of precious metals were encountered in any of the four holes. The Company continues to review historical exploration data to inform future exploration data, and the joint venture intends to undertake additional exploration work over the next 12 months, including geophysical surveys.
The technical information contained in this news release has been reviewed and approved by Warren M. Rehn, a "qualified person" as defined by National Instrument 43-101. Mr. Rehn is a former President and Chief Executive Officer of the Company and is a consultant to the Company.
Forward-Looking Statements
This news release contains forward-looking statements and "forward-looking information" within the meaning of applicable US and Canadian securities legislation (collectively, "forward-looking statements"), including statements regarding planned exploration activities and future work programs. Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including increases in costs and declines in general economic conditions; changes in political conditions; changes in tax, royalty, environmental and other laws in the United States and other jurisdictions in which the Company operates or may operate; risks associated with joint ventures; and fluctuations in silver and gold prices. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update these statements except as required by applicable law.
For additional information, please visit http://www.goldenminerals.com/ or contact:
Golden Minerals Company
(303) 839-5060
SOURCE: Golden Minerals Company
View the original press release on ACCESS Newswire