VANCOUVER - Almaden Minerals Ltd. (TSX: AMM; NYSE: AAU) today provided an update regarding its intentions for advancing the Ixtaca project during 2021.
As previously disclosed, Almaden was informed late last year that the company's initial environmental impact assessment in respect of the Ixtaca project did not receive approval from the Mexican federal permitting authority, Secretar?-a de Medio Ambiente y Recursos Naturales.
Since that time, the Company has reviewed SEMARNAT's reasons for not approving the MIA, and engaged in conversations with a range of project and industry stakeholders in Mexico. Almaden remains convinced that the Ixtaca project can be a showcase for modern, responsible mineral development in Mexico. The company says it intends to work towards submitting a revised MIA which incorporates additional data presently available to the company as well as data to be gathered in further field studies.
Morgan Poliquin, President and CEO, commented: "We believe the Ixtaca project has many natural advantages which allow it to make a significant net positive contribution to the local and regional area, and to define new ground in the realm of sustainable mining. Our intention moving forward is to seek opportunities to allow for robust dialogue on the nature of these potential contributions, and to submit a new MIA which clearly reflects the current priorities in Mexico. In the meantime, we also plan to continue to advance high priority exploration targets identified at the property."
Morgan Poliquin continued, "We are grateful for the input of the people in the local communities who support the project and who are remaining patient with the permitting process. Our ongoing permitting and regional work will continue to view their input as a core driver of both project design as well as programs to optimise the potential for shared value".
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). The Ixtaca Gold-Silver Deposit was discovered by Almaden in 2010.
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