Drilling Underway at the ATW Diamond Project, Canada
18 Marzo 2008 - 7:58PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX: AMM)(AMEX: AAU) is pleased to
announce that a sonic, overburden drill program is now underway on
the Company's ATW diamond project, North West Territories ("NWT"),
Canada. Almaden and Williams Creek Explorations Ltd. ("Williams
Creek") each own an approximately 41 1/2% interest in the project.
The remaining 17% is held by other parties which collectively would
be diluted to an approximately 12% working interest should they
elect not to contribute to the present work program.
The property covers the likely source area of a significant
indicator mineral train that is known to be at least 20 kilometers
long. Past microprobe work on these indicator minerals identified
G10 garnets and other minerals that are interpreted to have been
derived from at least one kimberlitic source that is also
interpreted to be at least moderately diamond-bearing (see
Almaden's March 22, 2002 news release). Till sampling efforts in
the past have narrowed the indicator mineral source to an area that
is roughly 1 by 1.5 kilometers in size. This work was also
confirmed by abrasion studies carried out on the indicator
minerals, the results of which indicated a very local source for
the mineral grains studied. In 2004 this reduced area was covered
by electromagnetic, magnetic and gravity ground geophysical
surveys. These surveys identified several subtle targets within the
interpreted indicator mineral source area. A bathymetric survey of
the lake bottom was completed in 2005 in order to give better
control for the gravity results returned in 2005. The results of
this survey defined several targets, however after evaluation of
the data, Almaden and Williams Creek have elected to carry out a
further program of indicator mineral sampling using a sonic drill
capable of penetrating the overburden in order to return a sample
of basal till. The program will consist of roughly 80 holes laid
out in a grid pattern designed to cover the area of the indicator
train. It is hoped that this work will further define and constrain
the source of the indicator mineral train to the extent that
diamond drilling can later be carried out to test for kimberlite,
the rock that hosts diamonds. Apex Geoscience Ltd. will supervise
the work program. Morgan J. Poliquin, P.Eng. (B.C.), a qualified
person under the meaning of National Instrument 43-101 and the
president, COO and a director of the company, has reviewed the
technical information in this news release.
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., 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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