Optioned to Golden Minerals Company
Golden Minerals Company (TSX: AUM) can earn 60% of the project from Almaden by spending US$2.6 M and by making cash payments to Almaden of roughly C$307,000 (3,312,000 pesos) over 6 years. Golden Minerals is committed to spend US$150,000 in the first 18 months and will make an initial payment of roughly C$122,000 (1,324,800 pesos) to Almaden.
September 27th, 2010: Drilling underway
Almaden is pleased to report that Golden Minerals Company has commenced a diamond drilling program on Almaden’s Matehuapil project. Golden Minerals has reported that it has already completed seven holes of a planned ten to fifteen hole program designed to test the altered and veined monzonite of the Rabiosa zone of the project. Read more: September 27th, 2010
overview | geology | past work
In February 2007, Almaden acquired the 12,030 hectare Matehuapil claim, subject to a 1% NSR payable to the Mexican government, through being the successful bidder in a state auction and by agreeing to make payments totaling roughly $C500,000 to the Mexican government.
The property is located roughly 48 kilometres east of Concepcion del Oro, an historic copper-gold-lead-zinc-silver mining camp in Northern Zacatecas State, 58 kilometres from Gold Corp’s Penasquito silver mine and 82 kilometres northeast of Canplats’ Camino Rojo Deposit. The Matehuapil project area is underlain by geology similar to that of these deposits: carbonate dominated sediments intruded by granitic rocks.
During past work programs alteration and mineralization was noted to extend off the claim blocks of Almaden's Santa Isabela Project to the south and onto the group of claims owned by the Mexican government. The Matehuapil claim is centred on historic lead-zinc silver and copper-gold mines and carbonate replacement and skarn mineralization spatially associated with intrusive rocks.
carbonate replacement deposit
Silver-lead-zinc mineralisation on the Santa Isabela project consists of oxidized sulphides in a jasperoid developed within carbonate units. This style of mineralization is interpreted to be associated with carbonate replacement sulphide deposits. During past work programs alteration and mineralization was noted to extend off the Almaden claim block to the south, and onto the then government-owned Matehuapil claim. Similar to the Santa Isabela Project, the Matehaupil claim is centred on historic lead-zinc silver and copper-gold mines and carbonate replacement and skarn mineralization spatially associated with intrusive rocks.
June 2nd, 2009: New Bulk Tonnage Gold Target Identified at Matehuapil
In May, 2009 Almaden received an annual progress report for work carried out in 2008 from Minera de Cordilleras, S de RL de CV (“Minera”) a subsidiary of Golden Minerals Company (successor to Apex Silver Mines Corporation) regarding work on the Matehuapil property in Zacatecas, Mexico. Work conducted by Minera consisted of geological reconnaissance, detailed geological mapping, magnetometer and gradiometer (gravity) surveys and sampling. There are seven known mineralized zones on the property and, based on the completed work, the Minera report recommended further work on three of these. read more +
December 2007: Apex Silver options the Matehuapil Project. [read more +]
