Almaden Minerals Ltd. (NYSEAMERICAN:AAU) continues to move higher in the pre-market session. The stock has jumped 7% over the past month.
Market Reaction
As of 7:44, AAU is up 1.29% to $0.548 with 2.3K shares traded hands.
Major Trigger:
Almaden Minerals Provides Ixtaca Project Exploration Update
Key Highlights:
- announce that it has completed a surface induced polarisation geophysical (IP) program at the Ixtaca deposit, Mexico (see Figure 1, Ixtaca Alteration Map).
- The work was designed to help define drill targets beneath the area of hydrothermal alteration called the Southeast Alteration (SE) zone and at depth beneath the Ixtaca deposit (“Ixtaca Deeps”). The data from this survey are currently being processed and combined with geologic, geochemical and geophysical data collected in the past.
- It is hoped that these results, will identify more discrete drill targets for a future diamond drill program to test for potential blind zones of veining beneath the SE alteration zone. The discovery drill hole in the original Ixtaca deposit area, which is mostly covered by overlying clay alteration similar to that in the SE alteration zone, was planned in part based on high resistivity and chargeability results obtained in an earlier IP geophysical survey.
- The Company looks forward to updating shareholders further once drilling plans are defined.
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