{"id":403419,"date":"2020-12-21T07:03:08","date_gmt":"2020-12-21T12:03:08","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=403419"},"modified":"2020-12-21T07:03:08","modified_gmt":"2020-12-21T12:03:08","slug":"almaden-provides-update-on-permitting-for-ixtaca-precious-metals-project-mexico","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/almaden-provides-update-on-permitting-for-ixtaca-precious-metals-project-mexico\/","title":{"rendered":"Almaden Provides Update on Permitting for Ixtaca Precious Metals Project, Mexico"},"content":{"rendered":"
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VANCOUVER, British Columbia, Dec. 21, 2020 (GLOBE NEWSWIRE) — Almaden Minerals Ltd. (\u201cAlmaden\u201d or \u201cthe Company\u201d; TSX: AMM; NYSE American: AAU) <\/strong>has received notification (the \u201cnotification\u201d) from the Mexican federal permitting authority, Secretar\u00eda de Medio Ambiente y Recursos Naturales (\u201cSEMARNAT\u201d) that the Company\u2019s initial environmental permit application (\u201cMIA\u201d) in respect of the Ixtaca project has not received approval. Almaden originally submitted the MIA in early 2019.<\/p>\n

\n SEMARNAT Decision<\/strong>\n <\/p>\n

Under relevant legislation, SEMARNAT is obliged to provide specific technical reasons why projects may not meet the environmental standards required for approval.<\/p>\n

Generally speaking, reasons cited by SEMARNAT for not approving the MIA include, in SEMARNAT\u2019s view, insufficient information regarding the impacts of open pit mining on the environment, local and regional area. SEMARNAT appears to have discounted the Company\u2019s prevention, mitigation and compensation measures which were part of the MIA application.<\/p>\n

The Company is continuing its review of SEMARNAT\u2019s response to the MIA and is evaluating its alternatives which include the re-submittal of a revised MIA, continuing dialogue, and legal options. In the event the Company chooses to re-submit a MIA on the existing mine plan, it believes that the necessary information is readily available and Almaden would have the ability to do so swiftly.<\/p>\n

Morgan Poliquin, President and CEO, commented: “We are disappointed with SEMARNAT’s decision. We will review the reasons provided and the factors that may have led to this decision and determine a path to move this project forward. We believe that since discovery we have outlined a resource and ultimately a mineral project that is highly economic, robust, and reflective of the ideal that successful mining projects can and should make a significant positive difference for local communities over the short, medium and long term. We are committed to continuing to unlock the substantial value of this project for all stakeholders. We stand ready to work in a cooperative and respectful manner with Mexican government officials as we seek to explore the potential of this project through continued exploration, ongoing refinement of the mine operating plan, and ongoing review of the notification.\u201d<\/p>\n

\n Background to Ixtaca Project<\/strong>\n <\/p>\n

In light of SEMARNAT\u2019s decision, the Company wishes to provide a brief background of the environmental and social aspects of the Ixtaca Project, which have been disclosed in the Feasibility Study report titled \u201cIxtaca Gold-Silver Project, Puebla State, Mexico NI 43-101 Technical Report on the Feasibility Study\u201d, which was prepared in accordance with NI 43-101 (the \u201cFS\u201d), is available under the Company\u2019s profile on SEDAR and on the Company\u2019s website:<\/p>\n