VANCOUVER – The Association for Mineral Exploration British Columbia (AME BC) has named Duane and Morgan Poliquin winners of the 2014 Colin Spence Award for global mineral exploration. Duane is chairman and Morgan is president and CEO of Almaden Minerals.
The men were recognized for their discovery and advancement of the Ixtaca gold-silver zone at the Tuligtic property in Pueblo state, Mexico. The property hosts an epithermal gold-silver deposit containing a global gold equivalent of 4.25 million oz. The measured resource is 30.44 million tonnes grading 0.61 g/t Au and 39.44 g/t Ag, and the indicated portion is 62.61 million tonnes grading 0.52 g/t Au and 28.88 g/t Ag. The inferred category covers 22.70 million tonnes at 0.50 g/t Au and 24.99 g/t Ag. A cut-off of 0.5 g/t AuEq was used in these calculations.
The updated preliminary economic assessment of September 2014 examined the development of an open pit mine and 30,000-t/d mineral processing plant. Pre-production capital requirements would be just short of $400 million to create an operation capable of production 130,000 oz of gold and 7.79 million oz of silver annually.
Please visit the Almaden website at AlmadenMinerals.com for additional details of the Tuligtic project.
The award was made at a Jan. 7 gala held as part of the Mineral Exploration Roundup 2015 organized by AME BC (AMEBC.ca).
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