Almaden Minerals (NYSE:AAU,TSX:AMM) has updated the resource estimate on the Ixtaca zone of its Tuligtic gold-silver project in Mexico.
- Measured Resource of 1,351,000 AuEq ounces (599,000 Au ounces, 38,600,000 Ag ounces) using the base case 0.5 grams per tonne (g/t) AuEq cut-off comprised of 30.44 million tonnes grading at 1.38 g/t AuEq (0.61 g/t Au and 39.44 g/t Ag)
- Indicated Resource of 2,182,000 AuEq ounces (1,049,000 Au ounces, 58,140,000 Ag ounces) using the base case 0.5 grams per tonne (g/t) AuEq cut-off comprised of 62.61 million tonnes grading at 1.08 g/t AuEq (0.52 g/t Au and 28.88 g/t Ag)
- Inferred Resource of 717,000 AuEq ounces (362,000 Au ounces, 18,240,000 Ag ounces) using the base case 0.5 grams per tonne (g/t) AuEq cut-off comprised of 22.70 million tonnes grading at 0.98 g/t AuEq (0.50 g/t Au and 24.99 g/t Ag)
As quoted in the press release:
J. Duane Poliquin, chairman of Almaden commented: “This new mineral resource estimate showcases the continuity of theIxtaca Zone gold and silver mineralisation and the success of our 2013 infill drilling program. It will form the basis of a Preliminary Economic Assessment (PEA) we expect to report in the first half of this year. While engineering studies will be the emphasis of this year’s work program, we plan to focus our 2014 Tuligtic Project drill program on the testing of other high priority exploration targets on the property.”