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Tag: Almaden Minerals

  • Almaden Minerals Ltd. (AAU) Stock Continues Downward Trend Following Culmination of Ixtaca IP Program

    Almaden Minerals Ltd. (AAU) Stock Continues Downward Trend Following Culmination of Ixtaca IP Program

    Almaden Minerals Ltd. (AAU) stock prices were down a marginal 2.03% as of the market closing on June 17th, 2021, bringing the price per share down to USD$0.5058 at the end of the trading day. Subsequent premarket trading has seen the stock remain stable as of the time of writing.

    Completion of Ixtaca IP Program

    The company announced on June 14th, 2021 that it had successfully completed a surface-induced polarization geophysical (IP) program at its Ixtaca deposit in Mexico. The work being conducted was designed to help isolate drill targets under the area of hydrothermal alteration called the Southeast Alteration zone, as well as at depth beneath the Ixtaca deposit.

    Results of IP Program

    The data collected will continue to be processed and combined with historic geologic, geochemical, and geophysical data. AAU hopes that these results will facilitate the identification of additional discrete targets for a future diamond drill program. This program will serve to test for potential blind zones of veining under the Southeast Alteration zone, which is mostly covered with overlying clay alteration similar to that in the SE alteration zone. The discovery drill hole in the original Ixtaca deposit area was planned partly due to high resistivity and chargeability results obtained in an earlier IP geophysical survey.

    SE Alteration Zone

    The SE Alteration zone is made up of white argillic volcanics and clusters of anomalies that were identified from a hyperspectral survey. This survey included spectral signatures of important epithermal alteration minerals such as kaolinite, alunite, and buddingtonite. November 2020 saw the company announce the discovery of a network of veining cropping out within the SE Alteration zone. Seventeen samples of the veining were collected and submitted to ALS Global in Mexico for analysis.

    Analysis of Samples

    Sixteen of the samples returned below detection gold and silver, with the odd one out returning a value of 62 ppb gold. Despite the outcrops being leached and weathered, however, many of the samples exhibited higher values for epithermal pathfinder elements, which are commonly found in the higher parts of epithermal alteration zones. These findings are highly promising in their support of the company’s claim that the SE Alteration zone has the potential to represent higher levels of a potential underlying epithermal system.

    Future Outlook for AAU

    Equipped with the recent development of the potential of its digsites, AAU is poised to capitalize on the opportunities presented to it to return to its trajectory of growth. Current and potential investors are hopeful that management will leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Almaden Minerals Ltd. (AAU) stock plunged today. Here’s why

    Almaden Minerals Ltd. (AAU) stock plunged today. Here’s why

    Almaden Minerals Ltd. (AMEX: AAU) saw a drop today by a percentage of -14.87% to the current price of $0.62. It previously closed at $0.73.

    The downward movement of the AAU stock comes along with the news of Almaden Minerals (AAU) announcing that there is a direct offering registered at $10.3 million.

    Glancing into Almaden Minerals Ltd

    Almaden Minerals Ltd (AAU) owns 100% of the Tuligtic project in Mexico. Specifically, the project covers the Ixtaca Gold-Silver Deposit that Almaden had discovered in 2010 and claimed through staking. According to Almaden’s website, the Ixtaca Deposit contains an estimated reserve of 65.1 million tons grading 1.29 million ounces of gold and 78.8 million ounces of Silver.

    15 million shares of AAU sold through direct offering

    AAU announced that it has entered into a definitive agreement with certain institutional investors for the sale and purchase of 15,846,154 shares of its common stock and common stock warrants the purchase of up to 7,923,077 shares of common stock at a combined purchase price of US$0.65 per share aggregate gross proceeds of US$10.3 million in a registered direct offering (RDO).

    What makes this offering important?

    The reason for making this registered direct offering is so that AAU can finance the preparation and submission of permit applications. These permits are required for the commencement of construction of the Ixtaca project, incremental exploratory expeditions, consulting costs and general operational costs.

    Now that Almaden Minerals Ltd (AAU) has received the capital offering, it will also resume exploration of the Ixtaca gold-silver project. Furthermore, it will be addressing the environmental permit setback that it received in December. The permit was not approved due to the requirement of additional MIA data and had been held up for 12 months awaiting a separate mineral title matter. The court that is supposed to grant the environmental permit reinstated Almaden’s original claim block despite AAU’s requesting the reduction of its land package to half.