Almaden Outlines Ixtaca Project Plans for 2021
February 03 2021 - 5:03PM
Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX:
AMM; NYSE American: AAU) is pleased to provide
shareholders with 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 (“MIA”) in respect of the Ixtaca project did not receive
approval from the Mexican federal permitting authority, Secretaría
de Medio Ambiente y Recursos Naturales (“SEMARNAT”).
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 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”.
About Almaden
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). A report titled “Ixtaca Gold-Silver Project,
Puebla State, Mexico NI 43-101 Technical Report on the Feasibility
Study”, which was prepared in accordance with NI 43-101, is
available under the Company’s profile on SEDAR and on the Company’s
website. The Ixtaca Gold-Silver Deposit was discovered by Almaden
in 2010.
On Behalf of the Board of Directors,
“J. Duane
Poliquin” J. Duane
PoliquinChairmanAlmaden Minerals Ltd.
Forward Looking Statements
Certain of the statements and information in
this news release constitute “forward-looking statements” within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and “forward-looking information” within the
meaning of applicable Canadian provincial securities laws. All
statements, other than statements of historical fact, are
forward-looking statements or information. Forward-looking
statements or information in this news release relate to, among
other things: SEMARNAT’s notification stating that the Company’s
MIA in respect of the Ixtaca project has not received approval; the
reasons for SEMARNAT’s decision; and alternatives available to the
Company in respect of SEMARNAT’s decision.
These forward-looking statements and information
reflect the Company’s current views with respect to future events
and are necessarily based upon a number of assumptions, including
assumptions in respect of the Ixtaca Project’s environmental impact
and both Almaden’s and SEMARNAT’s positions on the MIA and any new
MIA which is submitted. While these views are considered reasonable
by the Company, they are inherently subject to significant legal,
regulatory, business, operational and economic uncertainties and
contingencies, and such uncertainty generally increases with
longer-term forecasts and outlook. These assumptions include:
stability and predictability in Mexico’s environmental, mineral
tenure, mining and agrarian laws and regulations, as well as their
application and judicial decisions thereon; continued respect for
the rule of law in Mexico; prices for gold, silver and base metals
remaining as estimated; currency exchange rates remaining as
estimated; availability of funds; capital, decommissioning and
reclamation estimates; mineral reserve and resource estimates;
prices for energy inputs, labour, materials, supplies and services
(including transportation); no labour-related disruptions; all
necessary permits, licenses and regulatory approvals being received
in a timely manner; the ability to secure and maintain title and
ownership to properties and the surface rights necessary for
operations; community support in the Ixtaca Project; and the
ability to comply with environmental, health and safety laws. The
foregoing list of assumptions is not exhaustive.
The Company cautions the reader that
forward-looking statements and information involve known and
unknown risks, uncertainties and other factors that may cause
actual results and developments to differ materially from those
expressed or implied by such forward-looking statements or
information contained in this news release. Such risks and other
factors include, among others, risks related to: political risk in
Mexico; crime and violence in Mexico; corruption; environmental
risks, including environmental matters under Mexican laws and
regulations; impact of environmental impact assessment requirements
on the Company’s planned exploration and development activities on
the Ixtaca Project; certainty of mineral title and the outcome of
litigation; community relations; governmental regulations and the
ability to obtain necessary licences and permits; risks related to
mineral properties being subject to prior unregistered agreements,
transfers or claims and other defects in title; changes in mining,
environmental or agrarian laws and regulations and changes in the
application of standards pursuant to existing laws and regulations
which may increase costs of doing business and restrict operations;
as well as those factors discussed the section entitled "Risk
Factors" in Almaden's Annual Information Form and Almaden's latest
Form 20-F on file with the United States Securities and Exchange
Commission in Washington, D.C. Although the Company has attempted
to identify important factors that could affect the Company and may
cause actual actions, events or results to differ materially from
those described in forward-looking statements or information, there
may be other factors that cause actions, events or results not to
be as anticipated, estimated or intended. There can be no assurance
that our forward-looking statements or information will prove to be
accurate. Accordingly, readers should not place undue reliance on
forward-looking statements or information. Except as required by
law, the Company does not assume any obligation to release publicly
any revisions to on forward-looking statements or information
contained in this news release to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events.
Contact Information:
Almaden Minerals Ltd.Tel. 604.689.7644Email:
info@almadenminerals.comhttp://www.almadenminerals.com/
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