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Almaden Minerals Outlines Deep Exploration Target Beneath Ixtaca Zone
VANCOUVER, British Columbia, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX: AMM; NYSE American: AAU) is pleased to an
About this update from Almaden Minerals Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX: AMM; NYSE American: AAU) is pleased to announce additional results of its ongoing review of exploration targets which lie outside the currently defined reserve envelope of the Ixtaca deposit (See Figure 1, Exploration Targets). The Main Ixtaca Zone of the Ixtaca deposit is hosted by limestone where the veins form a wide zone of veining referred to as a vein swarm. This vein swarm in limestone has been the primary focus of the Company’s exploration efforts to date and the Feasibility Study level technical examination of the Ixtaca deposit (see “About the Ixtaca Deposit”, below). Adjacent to the Main Ixtaca Zone, shaley carbonate rocks host the more discrete focussed gold-silver vein related mineralisation of the Northeast Extension Zone, which also has higher associated zinc and lead values. Based on structural interpretation, the Main Ixtaca Zone gold-silver vein swarm could be the upper part of a vein system which transitions at depth to structurally controlled silver-lead-zinc dominated mineralisation where the Northeast Extension Zone would project down dip underneath the Main Ixtaca Zone (see Figure 2, Longitudinal Section of Main Ixtaca Zone and Cross Section of Northeast Extension Zone). This potential for metal zonation from upper gold-silver to deep silver-lead-zinc mineralisation is supported by geologic interpretation, geologic models for epithermal precious metal deposits and observations made in other epithermal vein deposits in Mexico. Drilling to depth beneath the Ixtaca Main Zone will be a priority in a future drilling program currently being planned by the Company. About the Ixtaca Deposit Since discovery with the first drill hole, exploration work at Ixtaca has been almost entirely focused on the discovery area, and this work has led to the silver and gold reserve which underpins the feasibility study (“FS”), results of which were announced in December, 20181. The highlights of the FS, using base case prices of US$1275/oz gold and US$17/oz silver unless noted otherwise, include the following (all US dollars): Average annual production of 7.06 million ounces silver and 108,500 ounces gold (15.2 million silver equivalent ounces, or 203,000 gold equivalent ounces)2 over the first 6 years; After-ta...