Business
Almaden Minerals Announces Commencement of Prospect Drilling at Ixtaca
VANCOUVER, British Columbia, July 27, 2021 (GLOBE NEWSWIRE) -- Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX: AMM; NYSE American: AAU) is pleased to re
About this update from Almaden Minerals Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, July 27, 2021 (GLOBE NEWSWIRE) -- Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX: AMM; NYSE American: AAU) is pleased to report that it has commenced drilling at the Ixtaca property in Puebla State, Mexico. Drilling will take a phased approach and will initially focus on targets established at the Southeast Alteration Zone (“SE Alteration Zone”), located approximately one kilometre from the Ixtaca deposit area (See Figure 1). Work over the past several months at the SE Alteration Zone has included geophysics and geological mapping. As reported in the Fall of 2020, this area measures about 1.5 kilometres (km) east-west by 1 km north-south, and is centred approximately 1 km southeast of the Ixtaca deposit. The SE Alteration Zone comprises argillic (clay-altered) volcanics and, most interestingly, clusters of anomalies identified from a hyperspectral survey that include the spectral signatures of important epithermal alteration minerals such as kaolinite, alunite and buddingtonite. In November, 2020, the Company announced the discovery of several areas of veining cropping out within the SE Alteration Zone, and seventeen samples of the veining were collected and submitted for analysis to ALS Global in Zacatecas, Mexico. All but one sample returned below detection gold and silver, with the exception returning a value of 62 ppb gold. However, even though the outcrops are leached and weathered, many of the samples also returned elevated values of epithermal pathfinder elements which are commonly found in the higher parts of epithermal alteration zones. The presence of pathfinder elements in these samples is very encouraging as it corroborates the Company view that the SE Alteration Zone could represent the higher levels of a potential underlying epithermal system. It is quite typical that the higher parts of these systems contain negligible precious metals values. The SE Alteration Zone lies outside of the current Ixtaca deposit resource area, which was the focus of a Feasibility Study (results of which were announced by the Company in December, 2018). A report titled “Ixtaca Gold-Silver Project, Puebla State, Mexico NI 43-101 Technical Report on the Feasibility Study”, which was prepared in accordance with NI 43-101, is available under the Company’s profile on SEDAR and on the Company’s website. J...