Ixtaca Gold-Silver Deposit

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OVERVIEW OF RESOURCE ESTIMATES

In January 2014, Almaden announced an Updated Resouce Estimate from the 2013 Maiden Resource Estimate.

This 2014 estimate showcases the continuity of the Ixtaca Zone gold and silver mineralisation and the success of the 2013 infill drilling program. It formed the basis of the Preliminary Economic Assessments (PEA) announced in 2014.

A brief overview of both Resources Estimates are posted below, along with links to the news releases.

2014 Updated Resource Estimate

In January 2014, Almaden announced the results of an updated National Instrument 43-101 compliant Updated Mineral Resource Estimate on the Ixtaca Zone performed by Giroux Consultants Ltd.

The data available for the resource estimation consisted of 423 drill holes assayed for gold and silver. The resource is presented in gold equivalent (AuEq) ounces and cut-offs based on price ratios, as the preliminary metallurgical test work previously reported shows the potential for roughly equivalent high recoveries for both gold and silver using standard gravity and flotation recovery techniques.

Highlights of the updated estimate include:

Measured Resource: 1,351,000 AuEq ounces (599,000 Au ounces, 38,600,000 Ag ounces) using the base case 0.5 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: 2,182,000 AuEq ounces (1,049,000 Au ounces, 58,140,000 Ag ounces) using the base case 0.5 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: 717,000 AuEq ounces (362,000 Au ounces, 18,240,000 Ag ounces) using the base case 0.5 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)

TABLE: 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.

2014 RESOURCE ESTIMATE SECTION MAPS:

Please click maps to download PDFs or download all section maps here +

Ixtac Resource Ixtaca Resource Ixtaca Resource

2013 Maiden Resource Estimate

In January 2013, Almaden announced the National Instrument 43-101 compliant Mineral Resource Estimate on the Ixtaca Zone, performed by Giroux Consultants Ltd.

The Ixtaca Zone is a gold (Au) and silver (Ag) deposit with roughly equal values per tonne of each metal. The resource estimation consisted of 225 drill holes assayed for gold and silver. It is presented in gold equivalent (AuEq) ounces and cut-offs calculated based on price ratios.

Highlights include:

Indicated Resource: 2,019,000 AuEq ounces using the base case 0.5 g/t AuEq cutoff comprised of 56.99 million tonnes grading 1.10 g/t AuEq (0.52 g/t Au and 29.91 g/t Ag)

Inferred Resource: 1,552,000 AuEq ounces using the base case 0.5 g/t AuEq cutoff comprised of 41.53 million tonnes grading 1.16 g/t AuEq (0.56 g/t Au and 31.41 g/t Ag)

TABLE: Ixtaca Zone NI 43-101 Indicated and Inferred Mineral Resource Statement with the Base Case 0.5 g/t AuEq Cut-Off highlighted. Also shown are the 0.3 g/t, 0.4, 1 and 2 g/t AuEq cut-off results. AuEq calculation based on three year trailing average prices of $1500/oz gold and $29/oz silver.

Details:

The newly received preliminary metallurgical test results indicate non-optimised gold and silver recoveries that are roughly equivalent for each geological domain. The deposit is mostly hosted by carbonate units and crosscutting dykes (“basement rocks”) and overlying volcanic rocks. In the base case roughly 90 % of the deposit’s AuEq ounces are hosted in the basement rocks, the remaining 10% in volcanic rocks. While the preliminary metallurgical results are considered excellent, further test work is planned to improve and optimize recoveries for all the different geologic units.

The estimate was constrained by three dimensional solids representing different lithologic and mineralized domains. Capping was completed to reduce the effect of outliers within each domain. Uniform down hole 3 meter composites were produced for each domain and used to produce semivariograms for each variable. Grades were interpolated into blocks 10 x 10 x 5 meter in dimension by ordinary kriging. Specific gravities were determined for each domain from drill core. Estimated blocks were classified as either Indicated or Inferred based on drill hole density and grade continuity.

2013 RESOURCE ESTIMATE SECTION MAPS:

Please click maps to download PDFs or download all section maps here +

Ixtaca Resource Ixtaca Resource Ixtaca Resource Ixtaca Resource

Recent News


ALMADEN HAS MOVED!
Our main offices are now located on Granville Island.
Please click here + for a map of our new location
February 8th, 2017
Almaden Drills Further New High Grade Mineralisation Within Gold, 117.3 g/t Silver including 4.60m of 6.68 g/t Gold and 565.4 g/t Silver

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