Vancouver – Almaden Minerals’ (AMM-T) has delivered an updated resource estimate on its wholly owned Siwash gold project near Merritt, British Columbia.
The calculation, completed by Giroux Consultants, shows a combined global measured and indicated resource of 636,300 tonnes grading 8.78 grams gold per tonne (177,000 contained ounces) and was compliant under National Instrument 43-101. There is an additional, inferred resource of 1,243,200 tonnes of 4.32 grams gold (172,900 contained ounces) in the global resource estimate.
In this latest resource estimate it was recognized that adjacent to the main B and WD vein systems are parallel, less continuous mineralized veins. Including this material in the estimate allows for a possible bulk mining scenario.Additionally, the high-grade mineralization in the B vein is now interpreted as having a different trend than previously thought, resulting in a shift in exploration focus. Almaden plans additional drilling on the property later this year. Both the bulk tonnage and the high-grade vein resources remain open to depth.
Historically, the Siwash mine has produced very high-grade gold. In the 1990s, 51,750 ounces of gold were produced from 16,690 tonnes of ore. Gold mineralization is predominantly hosted in pyritic quartz veins within granites.
Almaden Minerals has 29.8 million shares issued and outstanding.
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