Ixtaca Gold-Silver Deposit

discovery

In 2010, Ixtaca was discovered and acquired by staking. The first hole ever drilled in the zone hit 302 metres of 1.0 g/t gold and 48 g/t silver, including 1.67 metres of 60.7g/t gold and 2122 g/t silver.

deposit

Over 200,000 metres of drilling in over 500 drill holes has outlined a multi-million ounce precious metal deposit in a broad and robust vein system.

Current status

Almaden has commenced international arbitration proceedings against Mexico under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership ("CPTPP"), alleging that Mexico breached its obligations through actions which blocked the development of the Ixtaca project and ultimately retroactively terminated the Company's mineral concessions, causing the loss of the Company's investments in Mexico. See recent news and financial statements for more information on this investment dispute.

What makes Ixtaca exceptional?

A great deposit needs more than high-grade ore. It needs simple metallurgy and cutting-edge technology to ensure a low environmental impact and increase ore recovery.

A great deposit is also managed by a company that treats its community as partners and is committed to open dialogue, education, employment, and human rights.

Geology

High-Grade & Low-Cost: broad & high-contrast veins allow efficient ore sorting and visual grade control

Large Reserve Base: 134.3 million ounces AgEq or 1.79 million ounces AuEq

High Head Grade: 152 g/t AgEq & 2 g/t AuEq for first 6 years

Investment

Net Present Value: US$310 million, after tax based on gold at US$1275/oz & silver at US$17/oz

Rapid Payback: 1.9 years, after tax

Low Capex Risk: Near existing infrastructure. Mill already purchased

Community & Human Rights

Extensive Community Engagement & Support

Economic Benefits: 420 jobs and $210M taxes

New Water Reservoir improving community access to water

Environment & Engineering

No Tailings Dam with dry stack filtered tailings

No Acid Rock Drainage: Veins hosted by neutralising limestone

New Community Water Supply will capture enough unused rain water for the mine and irrigation for local communities

Location

The project is located 120 kilometres southeast of the Pachuca Mine, one of the largest gold and silver deposits in Mexico with a historic production of 1.4 billion ounces of silver and 7 million ounces of gold. The deposit is also well-located in the industrial heart of Puebla State. It is easily accessible from Mexico City and 95 kilometres north of Puebla city. A rail-serviced industrial park is 25 kilometres away, and regional power is provided by the Laguna Verde nuclear power station, located 200 kilometres to the east on a deep sea port.

Community Involvement

Since we first began exploring the area in 2001, we have built long-term relationships and have been actively involved in the community’s health and social welfare.

We have invested in ongoing employee training programs and helped with local construction and improvement projects including work on a school, public bathrooms, a community hall, a local church and a hospital. 

We have a central office in the town of Santa Maria Zotoltepec, which is always open to the community to answer any questions or provide information about the project.

Please read more about our Community Relationships +