Proactive Investors reported that Golden Minerals Company has sold its remaining 49% JV interest in the Platosa property to Excellon Resources for USD 2 million in cash and 1% net smelter return royalty.

The 2 companies terminated previous agreements including a 2% net smelter return royalty in this transaction.

The Platosa property is located 45 kilometres north of Torreon, Mexico, outside of Golden Minerals' Zacatecas project which spans over 15,000 hectares and includes 4 main target areas. Hole EX09-LP657 at the property intersected 7,030 grams per tonne silver, 30.5% lead, 5.3% zinc over 1.20 meters while hole LP662 cut 4,850 grams per tonne silver, 22.5% lead and 7.4% zinc over 1.10 meter.

Results from the key operational performance measures from the Platosa mine reported for the quarter to October 31st consisted of 393,940 ounces of silver, 2.10 million pounds of lead and 1.85 million pounds of zinc of payable metal sold.

Golden Minerals has a portfolio comprising 35 exploration projects, primarily located in Argentina, Peru and Mexico including the advanced stage El Quevar project in the Salta province of north western Argentina and the Zacatecas project. The company also operated the San Cristobal mine in Bolivia for Sumitomo Corporation under a management services agreement.

(Sourced from Proactiveinvestors.com)