Almaden Minerals Ltd. is pleased to report on the on-going development activities at the Company's 100% owned Tuligtic project and the Ixtaca gold-silver deposit. Work currently underway includes advanced engineering and environmental baseline studies to meet the requirements of a Pre-Feasibility Study and the submittal of an environmental permit application and risk assessment to the Mexican regulatory agency responsible for mine permitting.
To date Almaden has completed or initiated the following studies:
- Hydrologic studies including the drilling of water wells and installation of hydrologic equipment for baseline monitoring of subsurface water flow and quality on the project site;
- Surface water quality and flow measurements;
- Geochemical characterization of rock materials;
- Condemnation drilling of areas where mine infrastructure is planned;
- Geotechnical drilling to confirm foundation, footing and subsurface material quality;
- Geomechanical drilling to confirm rock strength, hardness and pit slope parameters;
- PFS level metallurgical testwork;
- Flora and fauna studies;
- Installation of a weather station.
All field work and testing programs are anticipated to be completed by May of this year, allowing for the completion of a PFS and submittal of environmental permits later in 2015.
J. Duane Poliquin, chairman of Almaden commented: "In a very difficult market place we have been able to continue to advance Ixtaca towards a production decision. We are proud of our hardworking team that has allowed the Company to make significant progress despite the downturn in mining. We look forward to updating shareholders with further progress in the coming months as we focus on the preparation of a PFS study and permit submittal."
Regarding Almaden's plans to spin-out its mineral exploration and royalty assets into a new company, timing for this transaction remains on track as per our press release of December 15, 2014. The Company is anticipating mailing a circular to shareholders this coming May, in advance of a shareholder vote planned for June which will be timed to coincide with Almaden's Annual General Meeting.