Dallas, Texas 01/21/2014 (FINANCIALSTRENDS) – Almaden Minerals Ltd. (USA) (NYSEMKT:AAU) , the $92.4 million market capped gold mining fining firm headquartered in Canada reported results from the test drills it had commissioned at its Tuligtic project in Mexico on December 12. This is a 100 percent owned and operated property of the firm in Mexico. The Tuligtic program was initiated to specifically validate the inferred category of metals to and upgrade the same to “higher confidence measured and indicated categories”.
In a press note released on the same day, Almaden Minerals Ltd. (USA) (NYSEMKT:AAU) has shared the highlights of the findings of the test drill which were reported to be completed in December 2013. The company reported to have found that the test holes drilled have indicated “continuity and high grades” of metal deposits in the previously identified “Main and Northern zones”. As per the latest release, the test drill has confirmed the following metrics, “43.50 meters of 3.16 G/T Au, 235.4 G/T Ag (7.9 G/T Aueq)”.
Sharing his delight at such positive results from the test drills, Almaden Minerals Ltd. (USA) (NYSEMKT:AAU) Chairman J.D. Poliquin has been quoted to have said,”Today’s holes once again show the continuity of this part of the Main Ixtaca Zone and highlight the high grades that core it. The infill drilling program completed in 2014 was designed to upgrade the confidence of our resource base. We look forward to reporting a new resource estimate work on which is now underway.”
Since these report became public, the stock of Almaden Minerals Ltd. (USA) (NYSEMKT:AAU) has been on an extended bull run. It has gained close to 28.33 percent in the past one week of trading and began this week on a high. It posted close to 7.6 percent gains during trading on 20th January to end at $1.54 per share.