Almaden Minerals

Almaden Minerals

Duane Poliquin established Almaden Minerals in 1980 as a mineral exploration company headquartered in Vancouver, British Columbia. The firm operates through a prospect-generator model, which relies on its in-house technical team to identify, acquire, and advance early-stage precious metals projects, primarily in Mexico. This approach reduces dilution by securing funding from joint-venture partners who earn into specific properties while Almaden retains a carried interest or a royalty. Almaden's flagship asset is the wholly owned Ixtaca gold-silver deposit, located in Puebla State, Mexico. The deposit, discovered by the company's exploration team, hosts measured and indicated resources of over 1.4 million ounces of gold and 72 million ounces of silver. The firm also maintains an extensive portfolio of exploration-stage properties and holds a 1% net smelter return royalty on the nearby Arroyo Blanco gold project. A 2018 feasibility study outlined plans for a 7,650-tonne-per-day open-pit operation at Ixtaca, though permitting challenges tied to indigenous consultation delayed the original construction timeline. Morgan Poliquin, Duane's son, was appointed President and CEO, and the company maintains exploration offices in Huajuapan and Mexico City. In September 2023, Almaden announced the restart of community engagement activities at Ixtaca following a favorable regulatory review, aiming to advance the project back toward a potential production decision. Almaden operates at the intersection of exploration and royalty creation — the prospect-generator structure allows it to simultaneously monetize discoveries through direct development at Ixtaca and hold passive royalty interests across other projects, a model that reduces downside risk while preserving optionality on a district-scale mineral trend.