Almaden Minerals Ltd.: 13.13 Meters of 1.12 g/t Gold Intersected at Caballo Blanco
06 Marzo 2008 - 10:21PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX: AMM)(AMEX: AAU) is pleased to
report that it has received partial assay results from operating
partner Canadian Gold Hunter Corp. ("CGH") (TSX: CGH) from the
first two diamond-drill holes completed at the Caballo Blanco
project in Veracruz, Mexico. Core hole 07CBN-002 intersected 0.76
g/t gold over 65.53 meters, including 13.13 meters grading 1.12 g/t
gold, in an iron-oxide-cemented silica breccia within a broader
mineralized interval that graded 0.59 g/t gold over 119.1 metres to
a depth of 157.8 metres where drilling was stopped for the
Christmas break. This hole has since been completed to a depth of
293.5 metres and the iron-oxide-silica breccia continues to a depth
of 251.0 metres. Assay results for the entire interval will be
reported when they become available (see the CGH's January 18, 2008
news release for selected photos of the core). J.D. Poliquin,
Chairman of Almaden, commented, "We are very pleased with the work
being conducted by our partner Canadian Gold Hunter and are excited
by these initial results. We look forward to the results to come
from the aggressive drill program now underway."
Hole 07CBN-002 is the first hole drilled by the CGH in the Cerro
la Paila target area (formerly referred to as Cerro la Cruz) of the
Northern Zone high-sulphidation gold system, which covers an area
of some 20 square km. This hole was drilled at -50 degrees E from a
collar in the Cerro la Cruz gold zone about 200 meters SW of the
collars of past drill holes 05CB-03, 06CB-01 and 06CB-03 (see
Almaden news release of February 20, 2007 for a summary of these
past drilling results).
Diamond drill hole 07CBN-001 was drilled about 3 1/2 km to the
south west of Cerro la Paila on a strong resistivity anomaly in the
Cerro Bandera part of the Northern Zone. This vertical hole was
collared in a structurally disturbed zone and was lost in a strong
fault at 109.12 meters. Assays up to 51.7 g/t silver over 3.05
meters are reported from the drill hole but with no significant
associated gold. Despite the low gold grades, the silver grades are
considered to be very encouraging for indicating the presence of a
nearby high-sulphidation gold system (note that an interval with
similar silver grades occurs directly above the gold-bearing
interval in hole 07CBN-002). CGH has announced that this target
will be tested further when time permits.
Available assay results for 07CBN-001 and 002 are presented
below.
------------------------------------------------------------------------
Width Au Ag
Drill Hole Az/Angle Depth (m) Interval (m) (m) g/t g/t
------------------------------------------------------------------------
07CBN-001 -90 degrees 109.12 31.39-42.06 10.67 0.005 22.8
------------------------------------------------------------------------
including 39.01-42.06 3.05 0.005 51.7
------------------------------------------------------------------------
and 106-07-109.12 3.05 0.009 40.7
------------------------------------------------------------------------
07CBN-002 090 degrees/ -293.5 29.57-38.71 9.14 0.10 28.3
50 degrees (i)
------------------------------------------------------------------------
and 38.71-157.80 119.09 0.59 2.8
------------------------------------------------------------------------
including 38.71-104.24 65.53 0.76 3.9
------------------------------------------------------------------------
including 85.95-99.08 13.13 1.13
------------------------------------------------------------------------
(i) Assays available only to 157.80 m
------------------------------------------------------------------------
CGH has announced that a second core rig mobilized to the
project on February 20 is being directed toward drilling in the
Cerro la Paila gold zone. In the current phase of the program, the
CGH has announced that it plans to test the Cerro la Paila Zone
with at least 28 core holes amounting to about 7,000 meters. The
zone has a strike length of at least 800 meters, based on soil and
rock geochemistry, geophysics (IP/resistivity) and detailed
geological mapping.
Under the terms of a 2007 agreement, CGH has an option to earn a
70% interest in the Caballo Blanco project from Almaden by issuing
1 Million shares of CGH (completed), making a US$500,000 payment
(completed), spending US$12.0 Million on the project over 6 years
(of which US$1.5 Million is a firm commitment) and funding all
ongoing costs required for the completion of a bankable feasibility
study.
The geological data in this news release were verified by
qualified person Jan Christoffersen, P. Eng., Vice President of
Canadian Gold Hunter Corp. Appropriate quality control and quality
assurance protocols are utilized on the program. Standard reference
samples and various duplicates are inserted in each batch of
assays. Drill core samples are cut by saw on site and sample splits
are shipped for preparation to ALS Chemex in Guadalajara, Mexico.
Sample pulps are sent to ALS Chemex in North Vancouver, B.C.,
Canada and analyzed for gold by fire assay and for silver and 34
other trace and major elements by ICP-MS in accordance with
standard industry practices.
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 where others are
responsible for ongoing exploration and development. 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., President, COO and
Director
Almaden Minerals Ltd.
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, COO and Director (604) 689-7644 (604) 689-7645
(FAX) Website: www.almadenminerals.com
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