Apex Silver Commences Drilling at Almaden's Viky Project, Mexico
21 Febbraio 2008 - 7:00PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (AMEX: AAU) ("Almaden", "the
Company") is pleased to announce that Apex Silver Mines Ltd. ("Apex
Silver") has commenced a diamond drilling program on Almaden's
wholly owned Viky silver lead zinc project located in western
Coahuila State, Mexico. Under the terms of a February, 2007 option
agreement between the companies, Apex Silver can earn a 60%
interest in the property by making expenditures totaling US$5.6
Million and cash payments of $US1.35 Million over 5 years from the
date of signing. J. Duane Poliquin, chairman and CEO of Almaden
commented, "We are very pleased to have Apex Silver drilling our
Viky project, one of the most exciting in our portfolio and we look
forward to the results of this program."
Almaden has received a 43-101 compliant technical report from
Apex Silver outlining the first year of work and its plans for the
current drill program. The drilling program will consist of a
minimum of 2,000 meters designed to target IP chargeability and
resistivity responses at depth and significant silver, lead and
zinc values in rock chip and soil samples taken at surface. Further
holes have been laid out contingent on results of the first phase
of drilling.
During 2007 Apex Silver took 363 samples, mostly of rock from
outcrop and float, and alluvium. Of these 71 were rock channel
samples taken over an average width of 2.21 meters (ranging from
0.4 to 7 meters), the analyses of which returned an average of 9.4
g/t silver (ranging from less than 0.2 to 153 g/t silver), 0.42%
lead (ranging from less than 0.0002 to 11.4 % lead) and 0.38% zinc
(ranging from less than 0.0002 to 5.79 % zinc). In addition 195
rock-chip samples were taken over an average width of 2.90 meters
(ranging from 0.4 to 11.6 meters), the analyses of which returned
an average of 16.5 g/t silver (ranging from less than 0.2 to 776
g/t silver), 1.22% lead (ranging from less than 0.0002 to 30.00%
lead) and 0.53% zinc (ranging from less than 0.0002 to 14.35%
zinc). These significant results, along with the geophysical survey
results from the past work carried by Almaden, are interpreted by
Almaden to be indicative of a high potential mineralized
environment which is presently being drill tested.
The 2007 Apex Silver work program was reviewed by Mr. Bob
Blakestad, Vice President of Exploration for Apex Silver and a
qualified person under the meaning of National Instrument 43-101.
Apex Silver employed a quality control program which included the
analysis of duplicates samples of coarse reject material at a
separate laboratory. The samples were analysed at ALS Chemex labs
of Vancouver, BC using industry standard fire assay, atomic
absorption, aqua regia and ICP methodologies.
About Almaden
Almaden is a mineral exploration and development company with a
track record of making new discoveries in Canada and Mexico.
Almaden currently has an interest in 22 properties that are under
active exploration. Almaden will continue with its successful
business model of identifying new projects through grass roots
exploration and managing risk by forming joint ventures with
partner companies which then carry the cost of exploring and
developing our projects. Almaden's grass roots exploration programs
are designed to identify new mineral exploration projects in
mineral terrains geologically permissive for world-class ore
deposits. Almaden is seeking partners with the suitable business
and geological resources to explore and assess the potential of
these projects through drilling.
On Behalf of the Board of Directors
Morgan J. Poliquin, M.Sc., P.Eng.
Statements contained in this news release that are not
historical facts are forward looking statements as that term is
defined in the private securities litigation reform act of 1995.
Such forward -looking statements are subject to risks and
uncertainties which could cause actual results to differ materially
from estimated results. Such risks and uncertainties are detailed
in the Company's filing with the Securities and Exchange
Commission.
The Toronto Stock Exchange and American Stock Exchanges have not
reviewed nor accepted responsibility for the adequacy or accuracy
of the contents of this news release which has been prepared by
management.
Contacts: Almaden Minerals Ltd. Morgan J. Poliquin, M.Sc.,
P.Eng. President (604) 689-7644 (604) 689-7645 (FAX) Website:
www.almadenminerals.com
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