Mike Fagan,
Editor
July 29, 2021
Almaden Minerals Ltd. (TSX: AMM)(NYSE-American: AAU) — currently trading around C$0.50 per share — has the drills spinning at its flagship Ixtaca Gold-Silver Project located in Puebla State, Mexico.
Ixtaca is a large precious metals deposit [proven and probable reserves of 85.1 million ounces of silver and 1.38 million ounces of gold] with a 2018 Feasibility Study envisioning production of 173,000 gold equivalent oz/yr for 11 years at AISC of US$850 oz/Au.
Drilling is initially focused on the SE Alteration Zone where the company discovered several vein outcroppings in November of last year.
Almaden chairman, J. Duane Poliquin, commented via press release:
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“The original Ixtaca discovery was made through clever geologic assembly of published information and on-the-ground observation of field data. This has resulted in the discovery of an economic gold-silver deposit as outlined in the Feasibility Study, with evidence (geologic, geochemical, geophysical) for the possibility of a similar deposit, as well as the possibility of deeper precious/base metal deposit(s). It is very exciting to return to prospect drilling of some of the blue sky targets that have been identified on this property.”
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Already, the Ixtaca deposit boasts 73.1 million tonnes grading 0.59 g/t Au and 36.3 g/t Ag. Thus, it’s exciting to see the drills turning at the property especially considering the strong precious metals endowment of the district.
Any significant drill hits in this newly discovered target area could certainly expand the known resource and, in turn, move the needle higher. With drilling underway and assays forthcoming, now is an opportune time to be taking a closer look at the company.
Click here to visit the Almaden Minerals company website.
And click here for our feature report on Almaden.
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Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.