Puebla State, Mexico
Gold & Silver
Operator: Almaden Minerals Ltd
Royalty: NSR: 2.0%
The 7200 hectare Tuligtic claim was identified and acquired by Almaden Minerals Ltd. during its 2001 regional Mexican exploration program.
Tuligtic is located 120 kilometers southeast of the Pachuca Mine, one of the largest gold and silver deposits in Mexico with historic production of 1.4 billion ounces of silver and 7 million ounces of gold.
The project is well-located in the industrial heart of Puebla State. It is easily accessible from Mexico City, and 95 kilometers north of Puebla city. A rail-serviced industrial park is 30 kilometers away, and regional power is provided by the Laguna Verde nuclear power station, located 200 kilometers to the east on a deep sea port.
Within the Tuligtic claim, field work identified a 5 square hectare area of intensely altered rocks that contains several prospective targets, including the Ixtaca Zone.
In 2010, a drill program was designed to test a small outcrop. Due to the limited surface exposure of the Ixtaca vein system, three holes were fanned out in a small area, each in a different direction. In August , Almaden reported assay results from first hole ever drilled in the Ixtaca zone: TU-10-01 intersected 302.42 metres of 1.01g/t gold and 48g/t silver and multiple high grade intervals including 1.67 metres of 60.7g/t gold and 2122g/t silver.
Following Discovery Hole TU-10-01, extensive drilling has traced mineralization over one kilometer in a northeasterly orientation and showed the Main Ixtaca Zone to be a broad and robust vein system intersected by multiple high grade veinlets in a variety of orientations.
Drilling has also identified two additional zones: the Ixtaca North Zone and the Northeast Extension. To date over 540 holes have been drilled at Ixtaca. In April 2017, Almaden announced an Updated Resource Estimate and Pre-Feasibility Study.
On April 3, 2017, Almaden announced positive results of the independent PFS prepared in accordance with National Instrument 43-101 (“NI 43-101”) for the Ixtaca precious metals deposit, located in Puebla State, Mexico.
HIGHLIGHTS (all values shown are in $US; base case uses $1250/oz gold and $18/oz silver prices):
It should be noted that this PEA is preliminary in nature as it includes inferred mineral resources which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA forecasts will be realized or that any of the resources will ever be upgraded to reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.