Almaden Announces Positive PEA for the Ixtaca Gold-Silver Deposit,
Mexico
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 16, 2014) -
Almaden Minerals Ltd. ("Almaden" or "the Company")
(TSX:AMM)(NYSEMKT:AAU) is pleased to report positive results from
the maiden National Instrument (NI) 43-101 compliant Preliminary
Economic Assessment ("PEA") on its 100% owned Ixtaca Gold-Silver
deposit, Mexico. This deposit is a blind discovery made by the
Company in 2010 on claims staked by the Company. The PEA was
prepared by Moose Mountain Technical Services ("MMTS") and Knight
Piésold Ltd. ("KP"). The conclusions and recommendations of the PEA
are that the Ixtaca deposit may be economically viable and the
Company should proceed to a Pre-Feasibility study ("PFS").
Highlights of the PEA are summarised below (all values shown are in
$US).
It should be noted
that this PEA is preliminary in nature as it includes inferred
mineral resources which are considered too speculative geologically
to have the economic considerations applied to them that would
enable them to be categorized as mineral reserves. There is no
certainty that the PEA forecast will be realized or that any of the
resources will ever be upgraded to reserves. Mineral Resources that
are not Mineral Reserves do not have demonstrated economic
viability.
PEA Highlights:
- Base case (US$1320/oz gold and US$21/oz silver):
- Pre-tax Net Present Value ("NPV") of $728M at a 5% discount
rate and internal rate of return of 29%;
- After-tax (including new Mexican Mining Duties) NPV(5%) of
$437M and internal rate of return of 22% ;
- Total mill feed of 129M tonnes and 258M tonnes of rock (strip
ratio of 2:1)
- Mine life of 12.1 years with an average processing rate of
30,000 tonnes per day (10,650,000 tonnes per annum);
- Average annual production of 130,000 ounces of gold and
7,798,000 ounces of silver;
- Estimated pre-production capital of US$496M. Sustaining capital
of US$106M; After-Tax Payback of 4.0 years
- The PEA is based on the January 22, 2014 NI 43-101 Compliant
Updated Resource Estimate;
- The mineral resources incorporated into the mine plan are
comprised of 29% Measured, 55% Indicated and 16% Inferred;
- In excess of 135,000 meters of core drilling has been completed
on the project since the discovery hole was announced by the
Company in August, 2010;
- Preliminary PEA level metallurgical test work demonstrates high
recoveries of both gold and silver from a combination of gravity
and bulk flotation concentration, averaging 95%. The PEA considers
leaching the flotation combined gravity/flotation concentrates to
produce a gold and silver doré on site. Total metal recovery to
doré averages 90%
- The contribution to the project economics by metal is about 54%
from gold and 46% from silver, making Ixtaca a true dual precious
metal deposit.
J. D. Poliquin, Chairman of Almaden reported, "We are very
pleased with the results of this PEA illustrating the potential
economic viability of a mining operation at Ixtaca. The positive
base case economics demonstrate how valuable good infrastructure,
grade continuity, high recoveries and low-cost mining are to a
project. The release of a PEA is a significant milestone for our
Company in less than four years from the initial discovery. The PEA
highlights the significance of the Ixtaca deposit on a world scale;
the projected average annual silver production could make Ixtaca
one of the top 20 silver projects in the world. We now look forward
to continued exploration progress which may grow Ixtaca as we
embark upon a PFS to further de-risk the project and initiate the
permitting process."
Economic Results and Sensitivities
A summary of financial outcomes comparing the base case results
to two alternative metal price scenarios (both applied to the base
case mine plan and processing parameters) are presented below along
with a table illustrating sensitivities to various inputs. The base
case utilized prices based on a combination of spot prices in 2014
and current common peer usage. The Alternate Case represents the
lowest sustained prices of the metals over the last three years.
The 3 year trailing average price is shown to represent the upside
potential should metal prices regain their previous strength. It is
important to note that cohesive and continuous higher grade cores
to the Ixtaca deposit could potentially be selectively mined at
lower metal prices. Such a scenario is not contemplated in this
study but the potential will be presented as an opportunity in the
forthcoming PEA report.
Table 1- Summary of Ixtaca Gold-Silver Economic Results and
Sensitivities ($USD)
|
Alternate Case* |
Base Case |
3 Year trailing Average |
|
Pre-Tax |
After-Tax |
Pre-Tax |
After-Tax |
Pre-Tax |
After-Tax |
Gold Price (US$/ounce) |
$1200 |
$1320 |
$1530 |
Silver Price (US$/ounce) |
$18 |
$21 |
$29 |
Net Cash Flow |
$783M |
$497M |
$1,194M |
$761M |
$2,203M |
$1,411M |
NPV (5% discount rate) |
$445M |
$255M |
$728M |
$437M |
$1,406M |
$875M |
NPV (8% discount rate) |
$308M |
$157M |
$537M |
$306M |
$1,081M |
$658M |
Internal Rate of Return |
21.5% |
15.9% |
29.3% |
22.2% |
43.9% |
34.1% |
Payback |
4.3 yrs |
4.5 yrs |
3.7 yrs |
4.0 yrs |
2.9 yrs |
3.2 yrs |
* The lowest-grade stockpile material processed at the end of
the mine life is below cut-off grade at the Alternate Case metal
prices. In the Alternate Case this material is not processed and is
counted as waste. This in turn shortens the mine life to 9 years
(from 12.1) |
The pre-tax base case sensitivities to metal price, operating
cost and capital cost changes are shown in the table below:
Table 2 - Pre-tax NPV(5%) and IRR sensitivities
|
Operating Cost Sensitivity |
Capital Cost Sensitivity |
Metal Price Sensitivity |
Variance |
NPV(5%) |
IRR |
NPV(5%) |
IRR |
NPV(5%) |
IRR |
-20% |
$978M |
34.9% |
$830M |
36.6% |
$208M* |
14.1%* |
-10% |
$853M |
32.2% |
$779M |
32.7% |
$468M* |
22.5%* |
Base |
$728M |
29.3% |
$728M |
29.3% |
$728M |
29.3% |
+10% |
$619M* |
26.4%* |
$677M |
26.4% |
$988M |
35.4% |
+20% |
$512M* |
23.3%* |
$626M* |
23.8%* |
$1,248M |
40.9% |
* Mine life is shortened to 9 years in this scenario |
Production and Processing
The Ixtaca gold-silver project is planned as an open pit mining
operation using contractor mining. Contactor mining operating costs
are assumed to be 25% higher than expected owner-operated mining
costs. Major mining equipment is comprised of 177-tonne capacity
haul trucks with 27m3 shovels. The estimated mining inventory is
comprised of 258M tonnes of rock and 129 million tonnes of
mineralized material with an average mill feed grade of 0.422 grams
per tonne gold and 25.27 grams per tonne silver. A total of 1.6
million ounces of gold and 94.4 million ounces of silver would be
produced over the life of mine. The PEA includes a 30,000 tonne per
day process plant to produce gold and silver doré on site. The
process plant includes conventional crushing, grinding, gravity,
flotation, vat-leach and Merrill-Crowe extraction process. Average
process recoveries for gold and silver are expected to be 90% based
on test work carried out at the Blue Coast Research Ltd laboratory
in British Columbia, Canada under the supervision of MMTS. The
following table summarizes the production and processing
parameters:
Table 3 - Projected Production and Processing Summary
Total Mill Feed Material |
128.7 M tonnes |
Processing Rate |
30,000 tonnes per day |
LOM Strip Ratio |
2.0 : 1 |
|
Gold |
Silver |
Average Mill Feed Grade |
0.422 g/t |
25.27 g/t |
Average Process Recoveries |
90% |
90% |
Average Annual Production LOM (ounces) |
130,000 |
7,798,000 |
Total Production (ounces) |
1,576,000 |
94,362,000 |
Capital and Operating Costs
The total estimated capital cost for the Ixtaca gold-silver
project is US$496 million and the estimated total LOM operating
costs are US$14.73 per tonne mill feed. The following tables
summarize the cost components:
Table 4 - Projected Start-up Capital Costs (Millions $USD)
Site Infrastructure |
$20.4 |
TMF and Water Management |
$44.7 |
Pre-stripping |
$163.1 |
Mining Equipment |
$16.3 |
Process Plant |
$187.0 |
Indirects, EPCM, Contingency and Owner's Costs |
$64.1 |
Total |
$495.6 |
Table 5 - Projected Operating Costs ($USD)
Owner-operated mining |
$1.45 |
$/tonne |
Contractor mining |
$1.81 |
$/tonne |
General Mine Expense |
$0.07 |
$/tonne |
Stockpile re-handling |
$1.00 |
$/tonne |
Processing |
$9.00 |
$/tonne mill feed |
G&A |
$0.94 |
$/tonne mill feed |
TMF management |
$0.09 |
$/tonne mill feed |
Rock Management, Environment and Community
Almaden recognises the paramount importance of protecting the
environment and, to facilitate the development of a sustainable
project. Knight Piésold Ltd. ("KP") have been retained to help the
Company with long lead item studies concerning environmental
monitoring, assessment and permitting matters. Almaden established
the following environmental objectives for the Project:
- Protect surface and ground water quality;
- Incorporate environmental enhancement opportunities into the
mine and final reclamation plans;
- Minimize the project footprint.
In order to achieve these objectives Almaden and KP have
instituted the following management strategies towards the
submission of a Mexican Environmental Impact Statement.
Water Management
- Almaden with KP has developed a comprehensive 2014 water
management strategy including the commencement of a hydrometric and
climate monitoring program, and the drilling of water measurement
wells. Studies into regional weather patterns suggest that the
Ixtaca mine plan will not require water from local aquifers, with
the latest modelling indicating that management of rainfall and
runoff from within the project area will provide sufficient water
for continuous operations. Currently local communities use existing
water supplies that come from natural springs located at higher
elevations and upstream of the Ixtaca deposit. Stream flow upstream
of the project will be either diverted around or collected,
potentially creating a new fresh water supply source for local use,
or used for mining and milling processes and before any would be
discharged it would be treated to meet environmental
guidelines.
Management of
Rock - The limestone host rock, which will constitute much
of the waste rock of the project, has a high buffering capacity.
Static geochemical testing is currently underway to characterize
this further.
Environmental
Monitoring - Groundwater monitoring to ensure compliance
with all applicable best management practice (BMP) technologies is
a fundamental component of the Project. Flora and fauna studies are
also underway.
Community - The
Ixtaca deposit and any potential mining operation will be located
in an area previously logged or cleared. Existing land use in the
project area is minimal. The Company has employed up to 70 local
people in its drilling program who live local to the Ixtaca
deposit. Local employees make up virtually all the drilling staff,
who have been trained on the job to operate the Company's wholly
owned drills. The Company has implemented a comprehensive science
based and objective community relations and education program for
employees and all local stakeholders to transparently explain the
exploration program underway as well as the potential impacts and
benefits of any possible future mining operation at Ixtaca. The
Company regards the local communities to be major stakeholders in
the Ixtaca deposit's future along with the Company's shareholders.
Every effort is being made to create an open and clear dialogue
with our stakeholders to ensure that any possible development
scenarios that could evolve from the anticipated future studies are
properly understood and communicated throughout the course of the
Company's exploration and development program. The Company invites
all interested parties to visit www.almadenminerals.com to find out
more about our community development, education and outreach
programs.
Economic Impacts
- The economic analysis set out in the PEA also provides some
possible indications of the potential economic impact of the Ixtaca
Project on the local, Puebla State and Mexico economies, should the
future work and permitting support development of a mining
operation. Highlights include:
- Direct employment of more than 400 people during the
construction phase and 430 people during the subsequent
approximately 12 year operating phase;
- Gross investment of approximately over US$163 million in
capital equipment and equipment manufacturing during the
construction phase, with an additional US$14 million or more during
operations; and,
- Approximately $434 million in direct taxes to all levels of
government, including payments to the local Municipality ($54
million), Puebla State ($98 million) and Federal ($282 million)
governments over the approximately 12 year operating life of the
project, but excluding payroll taxes, sales taxes and income taxes
paid by employees.
Geology and Mineral Resources
The Ixtaca deposit is an epithermal gold-silver deposit, mostly
hosted by veins in carbonate units (calacareous clastic rocks) and
crosscutting pre-mineral altered dykes ("basement rocks") with a
minor component of disseminated mineralisation hosted in overlying
volcanic rocks. Wireframes constraining mineralised domains were
constructed based on geologic boundaries defined by mineralisation
intensity and host rock type. Higher grade zones occur where there
is a greater density of epithermal veining. These higher grade
domains have good continuity and are cohesive in nature.
On January 31, 2013 the Company announced a maiden resource on
the Ixtaca Zone. Since that time drilling has been focused on
expanding and infilling the known resource base for this PEA which
utilised the NI 43-101 Compliant Updated Mineral Resource Estimate
released January 22, 2014, performed by Gary Giroux, P.Eng.,
qualified person under the meaning of NI 43-101, and summarised in
Table 3 below. The data available for the resource estimation
consisted of 423 drill holes assayed for gold and silver. The
estimate was constrained by three dimensional solids representing
different lithologic and mineralized domains. Of the total drill
holes 400 intersected the mineralized solids and were used to make
the resource estimate. Capping was completed to reduce the effect
of outliers within each domain. Uniform down hole 3 meter (m)
composites were produced for each domain and used to produce
semi-variograms for each variable. Grades were interpolated into
blocks 10 x 10 x 5 m in dimension by Ordinary kriging. Specific
gravities were determined for each domain from drill core.
Estimated blocks were classified as either Measured, Indicated or
Inferred based on drill hole density and grade continuity.
Table 6: Ixtaca Zone NI 43-101 Measured, Indicated and Inferred
Mineral Resource Statement with the Base Case 0.5 g/t AuEq Cut-Off
highlighted. Also shown are the 0.3, 0.7, 1.0 and 2.0 g/t AuEq
cut-off results. AuEq calculation based on three year trailing
average prices of $1540/oz gold and $30/oz silver.
MEASURED RESOURCE |
AuEq Cut-off |
Tonnes > Cut-off |
Grade>Cut-off |
Contained Metal |
(g/t) |
(tonnes) |
Au (g/t) |
Ag (g/t) |
AuEq (g/t) |
Au (ozs) |
Ag (ozs) |
AuEq (ozs) |
0.3 |
44,590,000 |
0.48 |
30.27 |
1.07 |
682,000 |
43,400,000 |
1,528,000 |
0.5 |
30,440,000 |
0.61 |
39.44 |
1.38 |
599,000 |
38,600,000 |
1,351,000 |
0.7 |
22,320,000 |
0.73 |
48.00 |
1.67 |
525,000 |
34,450,000 |
1,196,000 |
1.0 |
15,620,000 |
0.88 |
58.66 |
2.03 |
444,000 |
29,460,000 |
1,018,000 |
2.0 |
6,000,000 |
1.33 |
86.51 |
3.01 |
256,000 |
16,690,000 |
581,000 |
INDICATED RESOURCE |
AuEq Cut-off |
Tonnes > Cut-off |
Grade>Cut-off |
Contained Metal |
(g/t) |
(tonnes) |
Au (g/t) |
Ag (g/t) |
AuEq (g/t) |
Au (ozs) |
Ag (ozs) |
AuEq (ozs) |
0.3 |
109,150,000 |
0.38 |
20.76 |
0.79 |
1,344,000 |
72,850,000 |
2,762,000 |
0.5 |
62,610,000 |
0.52 |
28.88 |
1.08 |
1,049,000 |
58,140,000 |
2,182,000 |
0.7 |
39,520,000 |
0.65 |
37.09 |
1.37 |
828,000 |
47,130,000 |
1,746,000 |
1.0 |
23,850,000 |
0.81 |
47.06 |
1.73 |
624,000 |
36,090,000 |
1,327,000 |
2.0 |
5,910,000 |
1.39 |
72.81 |
2.81 |
265,000 |
13,830,000 |
534,000 |
INFERRED RESOURCE |
AuEq Cut-off |
Tonnes > Cut-off |
Grade>Cut-off |
Contained Metal |
(g/t) |
(tonnes) |
Au (g/t) |
Ag (g/t) |
AuEq (g/t) |
Au (ozs) |
Ag (ozs) |
AuEq (ozs) |
0.3 |
43,410,000 |
0.36 |
17.52 |
0.70 |
498,000 |
24,450,000 |
974,000 |
0.5 |
22,700,000 |
0.50 |
24.99 |
0.98 |
362,000 |
18,240,000 |
717,000 |
0.7 |
13,630,000 |
0.63 |
31.56 |
1.25 |
277,000 |
13,830,000 |
546,000 |
1.0 |
7,700,000 |
0.79 |
39.81 |
1.57 |
197,000 |
9,860,000 |
389,000 |
2.0 |
1,200,000 |
1.18 |
73.69 |
2.61 |
45,000 |
2,840,000 |
101,000 |
Metallurgical Gold and Silver Test Work
Almaden has previously reported preliminary metallurgical test
results (for details consult Almaden's news release of January 31,
2013 and the 2013 Tuligtic Project NI 43-101 Technical Report filed
on SEDAR). These first test results showed that standard gravity
and flotation techniques could result in non-optimised gold and
silver recoveries that are roughly equivalent for each geological
domain. This preliminary test work indicates that leaching the
combined gravity/flotation concentrate can produce a gold and
silver doré on site. All geologic domains were tested using whole
core composites selected to represent a range of grades.
Subsequent to the publication of the preliminary results, in
2013, additional metallurgical work, on the original and new whole
core composites, focused on optimizing gravity and rougher
flotation results over a broader range of head grades. At present
the preliminary test work performed to date indicates overall Au
and Ag recoveries from a combination of flotation and gravity
concentration and intensive leaching of this combined concentrate
to average 90% for Au and Ag across all geologic domains. Further
PFS-level metallurgical test work focussing on process optimization
is currently underway on existing and fresh domain samples
collected from whole drill core. This program will focus on the
optimisation of the gravity/bulk flotation/concentrate intensive
leaching process with lock cycle cleaner flotation tests and
intensive leaching test work on the resulting concentrates. Offsite
refining of the concentrates will also be evaluated.
Next Engineering and Development Steps
The Company plans to immediately embark upon a Pre-Feasibility
Engineering Program. Apart from further metallurgical studies, the
work outlined includes geo-mechanical and geotechnical drilling,
static geochemical tests to characterise rock chemistry and long
lead time environmental and water monitoring. Work underway
currently includes additional metallurgical studies, environmental
baseline monitoring such as flora and fauna studies, climate
monitoring, water quality sampling and surface water hydrology
monitoring. A NI 43-101 technical report for the Ixtaca Deposit PEA
will be filed on SEDAR (www.sedar.com) within 45 days.
Qualified Persons, Quality Control and Assurance
The following companies have undertaken work in preparation of
the PEA:
- APEX Geoscience Ltd. (Exploration and Drill data QA/QC)
- Giroux Consultants Ltd. (Mineral Resource Estimation)
- Moose Mountain Technical Services (Overall Report Preparation,
Mine Plan and Mineral Processing, Infrastructure and Financial
Model)
- Knight Piésold Engineering Ltd. (Geotechnical, Environmental,
Rock and Tailings Management)
The independent qualified persons responsible for preparing the
Ixtaca Preliminary Economic Assessment are.Jesse Aarsen, P.Eng. and
Tracey Meintjes, P.Eng. of MMTS, Ken Embree, P.Eng. of KP, Kris
Raffle, P.Geo. of APEX Geoscience Ltd., and Gary Giroux, M.A.Sc.,
P.Eng. of Giroux Consultants Ltd., all of whom act as independent
consultants to the Company, are Qualified Persons as defined by
National Instrument 43-101 ("NI 43-101") and have reviewed and
approved the contents of this news release.
MMTS is an association of Geologists, Engineers and Technicians
providing experienced knowledge in Geology and Mine Engineering
Services and Support to the mining industry for over 15 years.
Through their network of associates they provide an integrated team
of experts and QP's. Services range from early grassroots
exploration and development, block model builds, resource and
reserve estimates, advanced planning and studies for mine proposals
(including operational support), process design and permitting
process guidance and support. MMTS has experience working on coal
deposits around the world as well as gold, silver and copper
deposits throughout North and South America. A list of specific
projects worked on by MMTS can be found at www.moosemmc.com.
Knight Piésold is an international consulting firm and
recognized leader in providing engineering and environmental
services.
The analyses used in the preparation of the mineral resource
statement were carried out at ALS Chemex Laboratories of North
Vancouver using industry standard analytical techniques. For gold,
samples are first analysed by fire assay and atomic absorption
spectroscopy ("AAS"). Samples that return values greater than 10
g/t gold using this technique are then re-analysed by fire assay
but with a gravimetric finish. Silver is first analysed by
Inductively Coupled Plasma - Atomic Emission Spectroscopy
("ICP-AES"). Samples that return values greater than 100 g/t silver
by ICP-AES are then re analysed by HF-HNO3-HCLO4 digestion with HCL
leach and ICP-AES finish. Of these samples those that return silver
values greater than 1,500 g/t are further analysed by fire assay
with a gravimetric finish. Blanks, field duplicates and certified
standards were inserted into the sample stream as part of Almaden's
quality assurance and control program which complies with National
Instrument 43-101 requirements. In addition to the in-house QAQC
measures employed by Almaden, Kris Raffle, P.Geo. of APEX
Geoscience Ltd., completed an independent review of Almaden's drill
hole and QAQC databases. The review included an audit of
approximately 10% of drill core analyses used in the mineral
resource estimate. A total of 10,885 database gold and silver
analyses were verified against original analytical certificates.
Similarly, 10% of the original drill collar coordinates and down
hole orientation survey files were checked against those recorded
in the database; and select drill sites were verified in the field
by Kris Raffle, P.Geo. The QAQC audit included independent review
of blank, field duplicate and certified standard analyses. All QAQC
values falling outside the limits of expected variability were
flagged and followed through to ensure completion of appropriate
reanalyses. No discrepancies were noted within the drill hole
database, and all QAQC failures were dealt with and handled with
appropriate reanalyses. The mineral resource estimate referenced in
this press release was prepared by Gary Giroux, P.Eng., an
independent Qualified Person as defined by NI 43-101. All drill
sections and related assay data from the 2013 drilling program used
in the resource estimate have been posted to the Company's
website.
Exploration Opportunities
The Ixtaca deposit is one of several exploration targets on the
wholly owned Tuligtic property. The 14,000 hectare Tuligtic claim
covers an area of high level epithermal clay alteration. The
project area is partially covered by volcanic ash deposits which
mask underlying alteration, potential vein zones and associated
soil responses. In areas devoid of this covering ash, soil sampling
has defined several distinct zones of elevated gold and silver
values and trace elements typically associated with epithermal vein
systems. The Ixtaca zone is one of the largest areas of gold/silver
soil response but it is also one of the areas with the least ash
cover on the project. Management believes that the other altered
and geochemically anomalous areas could represent additional zones
of underlying quartz-carbonate epithermal veining like the Ixtaca
zone. In 2014 the Company anticipates redirecting drilling efforts
to the exploration of high priority epithermal targets outside of
the Ixtaca Zone but within the project boundaries.
The potential quantity and grade of these exploration targets is
conceptual in nature. There has been insufficient exploration
and/or study to define these exploration targets as a Mineral
Resource. It is uncertain if additional exploration will result in
these exploration targets being delineated as a Mineral Resource.
The potential quantity and grade of these exploration targets has
not been used in the PEA.
Cautionary Note concerning estimates of Measured, Indicated and
Inferred Mineral Resources
This news release uses terms that comply with reporting
standards in Canada and certain estimates are made in accordance
with Canadian National Instrument 43-101 ("NI 43-101"). NI 43-101
is a rule developed by the Canadian Securities Administrators that
establishes Canadian standards for all public disclosure an issuer
makes of scientific and technical information concerning mineral
projects. These standards differ significantly from the
requirements of the U.S. Securities and Exchange Commission
("SEC"), and mineral resource information contained herein may not
be comparable to similar information disclosed by United States
companies.
This news release uses the terms "measured mineral resources",
"indicated mineral resources" and "inferred mineral resources" to
comply with reporting standards in Canada. We advise United States
investors that while such terms are recognized and required by
Canadian regulations, the SEC does not recognize them. United
States investors are cautioned not to assume that any part or all
of the mineral deposits in such categories will ever be converted
into mineral reserves under SEC definitions. These terms have a
great amount of uncertainty as to their existence, and great
uncertainty as to their economic and legal feasibility. Therefore,
United States investors are also cautioned not to assume that all
or any part of the "measured mineral resources", "indicated mineral
resources" or "inferred mineral resources" exist. In accordance
with Canadian rules, estimates of "inferred mineral resources"
cannot form the basis of pre-feasibility or other economic studies.
It cannot be assumed that all or any part of the "measured mineral
resources", "indicated mineral resources" or "inferred mineral
resources" will ever be upgraded to a higher category.
About Almaden
Almaden is a well-financed mineral exploration company working
in North America. The company has assembled mineral exploration
projects in Canada, the United States and Mexico, including the
Ixtaca Zone of the Tuligtic Project, through its grass roots
exploration efforts. Uniquely, the Company has pioneered a new
geologic and mineral district in Eastern Mexico through conceptual
science driven exploration resulting in the acquisition through
staking of a portfolio of early stage exploration properties, each
of which represent exiting opportunities for the potential
discovery of significant gold, silver and copper deposits as
evidenced at Ixtaca. Almaden's business model has been to find and
acquire mineral properties and develop them by seeking option
agreements with others who can acquire an interest in a project by
making payments and exploration expenditures. Through this means
the company has been able to expose its shareholders to discovery
and capital gain without the funding and consequent share dilution
that would be required if the company were to have developed these
projects without a partner. The company intends to expand this
business model, described by some as prospect generation, by more
aggressively exploring, developing and advancing its projects
including the Ixtaca Zone.
On Behalf of the Board of Directors
Morgan J. Poliquin, Ph.D., P.Eng., President, CEO and
Director
Almaden Minerals Ltd.
Neither the Toronto Stock Exchange (TSX) nor the NYSEMKT
have reviewed or accepted responsibility for the adequacy or
accuracy of the contents of this news release which has been
prepared by management.. Except for the statements of historical
fact contained herein, certain information presented constitutes
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
Canadian securities laws. Such forward-looking statements,
including but not limited to, those with respect to potential
expansion of mineralization, potential size of mineralized zone,
and size and timing of exploration and development programs,
estimated project capital and other project costs and the timing of
submission and receipt and availability of regulatory approvals
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievement of
Almaden to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others,
risks related to international operations and joint ventures, the
actual results of current exploration activities, conclusions of
economic evaluations, uncertainty in the estimation of mineral
resources, changes in project parameters as plans continue to be
refined, environmental risks and hazards, increased infrastructure
and/or operating costs, labour and employment matters, and
government regulation and permitting requirements as well as those
factors discussed in the section entitled "Risk Factors" in
Almaden's Annual Information form and Almaden's latest Form 20-F on
file with the United States Securities and Exchange Commission in
Washington, D.C. Although Almaden has attempted to identify
important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate as actual results
and future events could differ materially from those anticipated in
such statements. Almaden disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, other than
as required pursuant to applicable securities laws. Accordingly,
readers should not place undue reliance on forward-looking
statements.
Almaden Minerals Ltd.Morgan J. Poliquin, Ph.D., P.Eng.President,
CEO and
Director604.689.7644info@almadenminerals.comwww.almadenminerals.com
Almaden Minerals (TSX:AMM)
Historical Stock Chart
From May 2024 to Jun 2024
Almaden Minerals (TSX:AMM)
Historical Stock Chart
From Jun 2023 to Jun 2024