- Almaden Minerals (AMM) has completed a surface-induced polarisation geophysical (IP) program at the Ixtaca deposit, Mexico
- Data from this survey is currently being processed and combined with previous geologic, geochemical and geophysical data to identify more drill targets
- In November 2020, the company announced several areas of veining cropping out within the SE Alteration Zone
- Several samples of the veining returned below detection gold and silver
- The Main Ixtaca Zone of the Ixtaca deposit is hosted by limestone and has been the primary focus of the company’s exploration efforts to date
- Almaden Minerals Ltd is an exploration stage company engaged in exploring and developing properties in Canada and Mexico
- Almaden Minerals Ltd. (AMM) opened trading at C$0.65 per share
Almaden Minerals (AMM) has completed a surface-induced polarisation geophysical (IP) program at the Ixtaca deposit, Mexico.
The program will help define drill targets beneath the area of hydrothermal alteration called the Southeast Alteration (SE) zone and at depth beneath the Ixtaca deposit (“Ixtaca Deeps”).
Data from this survey is currently being processed and combined with geologic, geochemical and geophysical data collected in the past. It is hoped that these results, will identify more discrete drill targets for a future diamond drill program to test for potential blind zones of veining beneath the SE alteration zone.
The discovery drill hole in the original Ixtaca deposit area, which is mostly covered by overlying clay alteration similar to that in the SE alteration zone, was planned in part based on high resistivity and chargeability results obtained in an earlier IP geophysical survey.
Background to the SE Alteration Zone
The SE Alteration Zone comprises white argillic (clay-altered) volcanics and, most interestingly, clusters of anomalies identified from a hyperspectral survey that include the spectral signatures of important epithermal alteration minerals such as kaolinite, alunite and buddingtonite. The SE Alteration Zone lies well outside of the current Ixtaca deposit resource area.
In November 2020, the company announced several areas of veining cropping out within the SE Alteration Zone. Seventeen samples of the veining were collected and submitted for analysis to ALS Global in Zacatecas Mexico. All but one sample returned below detection gold and silver, with the exception returning a value of 62 ppb gold.
Many of the samples also returned elevated values for epithermal pathfinder elements which are commonly found in the higher parts of epithermal alteration zones. The presence of pathfinder elements in these samples is very encouraging as it corroborates the company’s view that the SE Alteration Zone could represent the higher levels of a potential underlying epithermal system. It is quite typical that the higher parts of these systems contain negligible precious metals values.
Background to the Ixtaca Deeps Target
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 examination of the Ixtaca deposit.
Adjacent to the Main Ixtaca Zone, shaley carbonate rocks host the more discrete focussed gold-silver vein-related mineralization 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 that transitions at depth to structurally controlled silver-lead-zinc dominated mineralization where the Northeast Extension Zone would project down dip underneath the Main Ixtaca Zone. This potential for metal zonation from upper gold-silver to deep silver-lead-zinc mineralization is supported by geologic interpretation, geologic models for epithermal precious metal deposits and observations made in other epithermal vein deposits in Mexico.
Almaden Minerals Ltd is an exploration stage company engaged in exploring and developing properties in Canada and Mexico. Almaden Minerals Ltd. owns 100% of the Ixtaca project in Puebla State, Mexico, subject to a 2.0% NSR royalty held by Almadex Minerals Ltd.
The Ixtaca deposit hosts a proven and probable reserve containing 1.38 million ounces of gold and 85.1 million ounces of silver (73.1 million tonnes grading 0.59 g/t Au and 36.3 g/t Ag).
Almaden Minerals Ltd. (AMM) opened trading at C$0.65 per share.
