Almaden expects 203 000 oz/y from Mexico precious metals project
The Ixtaca precious metals deposit, in Mexico, has the potential to produce 203 000 oz/y of gold-equivalent in the first six years of operation, a feasibility study has confirmed.
The production is comprised of 108 500 oz/y of gold and 7.06-million ounces a year of silver, said project owner Almaden Minerals.
Over its 11-year mine life, the Ixtaca project will produce an average of 90 800 oz/y of gold and 6.14-million ounces a year of silver, at an operating cost of $716/oz of gold equivalent and an all-in sustaining cost of $850/oz of gold equivalent.
Initial production will ramp up to a mill feed rate of 7 650 t/d, followed by an expansion to 15 300 t/d from year five onwards.
The feasibility study is based on an openpit with a proven and probable reserve of 1.39-million ounces of gold and 85.2-million ounces of silver.
The project has an after-tax net present value, using a 5% discount, of $310-million and an internal rate of return of 42%. The initial capital of $174-million will be repaid in 1.9 years.
"We have advanced Ixtaca from our blind discovery in 2010 to its current position as an outstanding inventory of precious metals in a well-established mining jurisdiction with a very robust economic profile. Significant potential remains to increase resources through continued drilling of portions of the Ixtaca project that remain open as well as other targets on this largely unexplored property. In the meantime, we are looking forward to further developing this deposit through permitting and construction to demonstrate our commitment to modern, responsible mining and the potential for Ixtaca to be a strong economic engine for the company and the region in which it is located," said Almaden chairperson JD Poliquin.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation