Almaden Minerals (TSE:AMM) saw its shares advance Monday after the company announced final drill results to included in its maiden resource estimate for the Ixtaca property.
With the results revealed today, 225 holes drilled since the discovery of the zone was made in 2010, will form the basis of the resource estimate.
The company said results included 18.0 metres of 6.6 grams per tonne (g/t) gold equivalent on the northeast extension zone.
“These new results show the continued expansion of the overall Ixtaca vein system,” said president and CEO, J.D. Poliquin.
“We are excited to be working towards our maiden resource. Since the discovery in 2010 of the Main Ixtaca Zone we have found the parallel Ixtaca North Zone, the perpendicular Northeast Extension (Chemalaco) Zone and widespread mineralisation in the volcanic units.
“All of these zones remain open and drilling is on-going to expand the resource beyond the boundaries set for the maiden resource, a snapshot of drilling results to date.”
The drilling completed so far has traced mineralization over 1,000 metres along this northeast trend.
Alamden has two primary property interests: the Tuligtic prospect, which includes the Ixtaca zone in Mexico, and the El Cobre copper-gold prospect.
It now has three drills operating on the Tuligtic project, and plans to continue drilling operations throughout this year.
Shares in the mineral explorer moved up 0.8 per cent to $2.55 on Monday.
