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Mexico
Ixtaca Project

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 Location:
41 km NE from Apizaco, Puebla, Mexico

  Project Contacts:
Suite 210 – 1333 Johnston Street
Vancouver
British Columbia, Canada
V6H 3R9
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EmailEmail
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
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  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life11 years (as of Jan 1, 2019)
In July 2022, the Ministry of Economy notified Almaden that its mineral titles are “ineffective” but that the title applications were filed in conformity with the Mexican mineral title law. The Company understands this to mean that the mineral title has reverted to application status, and that these applications preserve the mineral rights for Almaden but do not allow the Company to engage in exploration, until the court-ordered indigenous consultation is completed.

Almaden intends to interact with authorities in Mexico in order to clarify next steps and facilitate the government’s execution of its responsibilities. At present there is no timeline for consultation by the Ministry of the Economy with indigenous communities.


Owners

Source: p. 40
CompanyInterestOwnership
Almaden Minerals Ltd. 100 % Indirect
Compania Minera Gorrión S.A. de C.V. 100 % Direct
The Tuligtic Property is held 100 percent (%) by Compania Minera Gorrión S.A. de C.V. (Minera Gorrión), a wholly owned subsidiary of Almaden Minerals Ltd.

Contractors

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Deposit Type

  • Epithermal
  • Vein / narrow vein


Summary:

The principal deposit-type of interest on the Tuligtic Property is low- to intermediate- sulphidation epithermal gold-silver mineralization. This style of mineralization is recognised at the Ixtaca Zone but property scale high level epithermal alteration suggests that mineralization of this type can exist elsewhere on the Project. The Tertiary bodies intruding the Tamaulipas Limestones and the tertiary volcanics, makes the Property also prospective for Porphyry copper-gold-molybdenum (Cu-Au-Mo) and peripheral Pb-Zn Skarn deposits.

Mineralization
Two styles of alteration and mineralization are identified in the area: (1) copper- molybdenum porphyry style alteration and mineralization hosted by diorite and quartz- diorite intrusions; (2) silver-gold lowsulphidation epithermal quartz-bladed calcite veins hosted by carbonate rocks and spatially associated with overlying volcanic hosted texturally destructive clay alteration and replacement silicification.

Outcropping porphyry-style alteration and mineralization is observed in the bottoms of several drainages where the altered intrusive complex is exposed in erosional windows beneath post mineral unconsolidated ash deposits. Multiple late and post mineral intrusive phases are identified crossing an early intensely altered and quartz-veined medium-grained feldspar phyric diorite named the Principal Porphyry. Other intrusive types include late and post mineral mafic dykes and an inter-mineral feldspar-quar ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

A FS level mining design, production schedule, and cost model has been developed for the Ixtaca Zone of the Tuligtic Property. This current work focuses on the near surface high grade limestone hosted portions of the Ixtaca Zone deposit. The mine schedule includes an open pit mining operation with a process plant to produce gold and silver doré.

Mining will use a contractor owned and operated fleet.

The operational pits are designed based on the optimized shell, and the potentially mineable portion of the resource is estimated within those pits. The ultimate pit contains a total of 73.1 million tonnes of crusher feed at a strip ratio of 4.45:1.

Pit Design Slope Inputs and Bench Configuration
Pit designs are configured on 12m bench heights with berms every two benches.

Maximum inter-ramp slope height (bench stack height) is 150 m. A ramp or geotechnical bench with a minimum width of 20 m is required between bench stacks. Inter-ramp slope angles may be used up to a pit slope height of 150 m. Maximum overall slope heights are on the order of 400 to 420 m with recommended overall slope angles of 40° to 43°. Overall wall stability is governed by inter-ramp slope angles of 45° to 48° in the shale domain (a function of wall orientation) 43° in the ash tuff volcanic domain and 48° in the limestone domain. Inter-ramp and overall slope angles are listed in Table 16-6. These angles are for depressurized conditions, assuming that the pit ........


Crushing and Grinding
Source: Subscription required

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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold koz 91946
Silver koz  ......  Subscription required  ......  Subscription required
Gold Equivalent oz  ......  Subscription required
Silver Equivalent koz  ......  Subscription required
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Daily milling rate 15,300 t *
Stripping / waste ratio 4.45 *
Daily ore mining rate 15,300 t *
Waste tonnes, LOM 325 Mt *
Ore tonnes mined, LOM 74.7 Mt *
Tonnes processed, LOM 48 Mt *
* According to 2019 study.

Reserves at November 30, 2018:
Mineral Reserves: The cut-off grade used for ore/waste determination is NSR>=$14/t;
Mineral Resources: Cut-off 0.3 g/t AuEq.

CategoryTonnage CommodityGradeContained Metal
Proven 31.6 Mt Gold 0.7 g/t 714 koz
Proven 31.6 Mt Silver 43.5 g/t 44,273 koz
Probable 41.4 Mt Gold 0.51 g/t 673 koz
Probable 41.4 Mt Silver 30.7 g/t 40,887 koz
Proven & Probable 73.1 Mt Gold 0.59 g/t 1,387 koz
Proven & Probable 73.1 Mt Silver 36.3 g/t 85,159 koz
Measured 43,380,000 t Gold 0.62 g/t 862 koz
Measured 43,380,000 t Silver 36.27 g/t 50,590 koz
Measured 43,380,000 t Gold Equivalent 1.14 g/t 1,591 koz
Indicated 80,760,000 t Gold 0.44 g/t 1,145 koz
Indicated 80,760,000 t Silver 22.67 g/t 58,870 koz
Indicated 80,760,000 t Gold Equivalent 0.77 g/t 1,994 koz
Measured & Indicated 124,140,000 t Gold 0.5 g/t 2,008 koz
Measured & Indicated 124,140,000 t Silver 27.42 g/t 109,450 koz
Measured & Indicated 124,140,000 t Gold Equivalent 0.9 g/t 3,584 koz
Inferred 40,410,000 t Gold 0.32 g/t 412 koz
Inferred 40,410,000 t Silver 16.83 g/t 21,870 koz
Inferred 40,410,000 t Gold Equivalent 0.56 g/t 726 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Silver Equivalent USD  ......  Subscription required&nbs
Cash costs Gold Equivalent USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Silver Equivalent USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Gold Equivalent USD  ......  Subscription required&nbs
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2019 study / presentation.

Operating Costs:

Units2019
OP mining costs ($/t milled) USD 15.2 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2019 study.
Subscription required - Subscription is required.

2019 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Expansion CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 504
G&A costs $M USD 52
Total OpEx $M USD  ......  Subscription required
Total Taxes $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
Net Income (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Pipelines
TypeMaterialDiameterLengthDescription


Proposed Heavy Mobile Equipment as of January 24, 2019:
HME TypeSizeQuantityLeased or
Contractor
Compactor ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameEmailProfileRef. Date
....................... Subscription required ....................... Subscription required ....................... Subscription required Jan 16, 2023
....................... Subscription required ....................... Subscription required Subscription required Oct 3, 2019
....................... Subscription required ....................... Subscription required Subscription required Jan 16, 2023
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Corporate Presentation 2022
................................... Subscription required 2019
Corporate Presentation 2018
Press Release 2018
Pre-Feasibility Study Report 2017
Press Release 2017
Management Discussion & Analysis 2016
Preliminary Economic Assessment 2016
Preliminary Economic Assessment 2016
Management Discussion & Analysis 2015
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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