To begin, preheat your oven to 350°F (175°C). Spread the flour and ground almonds evenly on a baking sheet. Toast in the oven for 8–10 minutes, stirring halfway through, until they release a nutty aroma. This step intensifies the flavour, so be careful not to let them burn. Remove from the oven and allow to cool.
In a large mixing bowl, combine the toasted flour, ground almonds, powdered sugar, ground cinnamon, and salt. Use a whisk to blend them thoroughly. This ensures that each ingredient is well distributed for even flavour in every cookie.
Add the softened lard (or butter) and vanilla extract to the dry ingredients. Mix with a wooden spoon or your hands until the dough starts coming together. The dough should be soft and slightly crumbly, typical for polvorones.
Gently knead the dough until it holds together when pressed. Be careful not to over-knead, as this will make the cookies too dense. If the dough is too crumbly, let it rest for a few minutes; the warmth from your hands will help it hold better.
Shape the dough into a thick disk, wrap it in plastic wrap, and refrigerate for 20–30 minutes. Chilling firms up the dough, making it easier to shape the cookies without them falling apart.
Preheat the oven to 350°F (175°C) again. Line a baking sheet with parchment paper. Roll the dough out on a lightly floured surface to about 1/2 inch (1.25 cm) thickness. Use a round cookie cutter to cut out cookies, re-rolling the dough scraps as needed.
Place the cookies on the prepared baking sheet, about 1 inch apart. Bake for 12–15 minutes, or until the edges are lightly golden. Polvorones are delicate, so keep an eye on them to prevent over-browning.
Let the cookies cool slightly on the baking sheet before transferring them to a wire rack. Once cooled completely, dust generously with powdered sugar for a snowy finish. Serve on a plate, perhaps with a small bowl of extra powdered sugar for dipping if desired.