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Project: | Tuligtic | |
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Deposit: | Ixtaca | |
Location: | Mexico | |
Commodities: | Gold-Silver | |
Date: | 10/24/2018 | |
Report Code: | NI43-101 | |
Report Type: | Exploration/Drilling Update | |
Project Stage: | Pursuing Feasibility Study | |
Report details: | 24-10-2018: Almaden Minerals Ltd. announces an Exploration/Drilling Update report for its Ixtaca deposit at the Tuligtic project. Drilling results incl. 145.50m @ 1.83g/t Au, 14.4g/t Ag. Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX: AMM; NYSE Am | |
Resources: | (not mentioned in this report) | |
CP/QP: | [Overall Report]: Norm Dircks (Internal) | |
ABSTRACT: | Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX: AMM; NYSE American: AAU) is pleased to announce assay results from infill drilling that has been part of Almaden’s feasibility study field work program carried out over the last 12 months within the resource and mine plan area at the Company’s Ixtaca project, Mexico. Results herein are from infill holes targeting high grade volcanic units at the southeast end of the deposit within the Pre-Feasibility Study (“PFS”) pit. The drill holes confirmed the continuation of the high-grade zone of mineralization. Highlights include the following intercepts J.D. Poliquin, chairman of Almaden stated, “The infill results further confirm the continuity of the Ixtaca resource within the PFS pit and the significant grades that can be associated with mineralisation in the volcanics. Our current focus is the completion of the feasibility study which we anticipate in 2018.” About the Ixtaca Deposit Feasibility Program The Company has selected independent engineers Moose Mountain Technical Services (“MMTS”) and SRK Consulting to lead the feasibility study (“FS”). The FS is nearly complete and is anticipated in 2018. The FS will incorporate the positive results of ore sorting tests that were reported on July 16, 2018, as well as several other opportunities that were identified in the FS work program. As reported previously, Almaden is also in the final stage of preparing an Environmental Impact Assessment (Manifiesto de Impacto Ambiental or “MIA”) for Ixtaca, and is incorporating the most recent updates contained in the FS, into the MIA. Almaden expects to submit the MIA this year. About the Ixtaca Drilling Program and the Ixtaca Zone The Ixtaca Zone is a blind discovery made by the Company in 2010 on claims staked by the Company. The deposit is an epithermal gold-silver deposit, mostly hosted by veins in carbonate units and crosscutting dykes (“basement rocks”) with a minor component of disseminated mineralisation hosted in overlying volcanic rocks. The Ixtaca deposit is located in a developed part of Mexico in Puebla State, the location of significant manufacturing investments including Volkswagen and Audi plants. The deposit is accessed by paved road and is roughly 30 kilometres from an industrial park with rail service where significant manufacturers such as Kimberly Clarke have facilities. Any potential mining operation at Ixtaca would be located in an area previously logged or cleared with negligible to no current land usage. | |
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