Almaden Minerals (AMM.TO, NYSEMKT:AAU) has released more drill results from its Tuligtic project in Mexico. These drill holes are very interesting as they were aimed to find mineralization nearby the currently known resource estimate on the Ixtaca zone. It’s interesting to see that Almaden found 15 meters of 4.43g/t gold and 9.5g/t silver (approximately 4.6g/t gold-equivalent) just outside the limits of the resource estimate, and more importantly, very close to the preliminary pit shell used in the PEA.
This means that if more of these intercepts can be found near the pit shell not only the resources could increase fast, the economics would also improve considerably as an average grade of 4.6 g/t gold-equivalent is very high and would definitely have an impact on both the internal rate of return and the net present value of the Ixtaca zone.
> Click here to read the press release
Disclosure: The author holds no position in Almaden Minerals. Please see our disclaimer for current positions.
