Almaden Minerals Ltd.: 94.49 Meters Grading 2.09 g/t Gold Intersected at Caballo Blanco Project, Mexico
22 Aprile 2008 - 10:29PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX: AMM)(AMEX: AAU) is pleased to
report that it has received assay results from core holes 08CBN-004
and 08CBN-005 from operating partner Canadian Gold Hunter Corp.
("CGH") (TSX: CGH) from the Cerro la Paila gold target on the
Caballo Blanco project in Veracruz, Mexico. Core hole 08CBN-004
intersected 94.5 meters grading 2.09 g/t Au, including 39.62 metres
grading 3.93 g/t gold, in iron-oxide-cemented silica breccias. The
hole was abandoned due to difficult drilling conditions in massive
silica breccia at 203.61 metres. Drill hole 08CBN-005 was completed
to a depth of 273.71 meters, where it was abandoned in bad ground
in silica breccias. The hole assayed 0.53 g/t gold over a length of
131.06 metres, within which a higher grade section grades 1.08 g/t
gold over 24.38 meters.
J.D. Poliquin, Chairman of Almaden, commented, "We at Almaden
are very pleased with the work being conducted by our partner
Canadian Gold Hunter and are very encouraged by these results. We
look forward to the results to come from the aggressive drill
program now underway. CBN-004 is the best hole drilled to date on
the project. The gold intercept occurs in silica breccias directly
below a barren, clay-altered volcanic cap rock, so we think we are
right at the top of the mineralized system. It also confirms the
high-grade potential of the Cerro la Paila target."
Complete assay results for 08CBN-004 and 005 are listed
below.
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Drill Hole Az/Angle Depth (m) Interval (m) Width (m) Au g/t Ag g/t
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07CBN-004 080 degrees/ 203.61 77.11-171.60 94.49 2.09 1.4
-80 degrees
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including 128.93-168.55 39.62 3.93 2.3
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08CBN-005 090 degrees/ 273.71 81.69-212.75 131.06 0.53 1.4
-80 degrees
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including 84.73-138.07 53.34 0.79 2.3
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including 113.69-138.07 24.38 1.08 2.0
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Two core rigs currently are operating in the Cerro la Paila gold
target, a zone of very high resistivity defined by detailed I.P.
The resistivity anomaly extends over a N-S distance of 800 to 900
metres with widths up to 450 metres (to see attached map please
click on: http://media3.marketwire.com/docs/amm0422.jpg) and
substantial, but as yet undetermined, depth extent. In places, the
resistivity anomaly is buried below low-resistivity volcanic rocks.
Where the resistivity high extends to surface, iron-rich silica
breccias are exposed and gold soil and rock geochemical anomalies
are extensive. The great bulk of the buried resistivity anomaly
lies to the south of the section line on which CBN-004 occurs and
has yet to be tested by drilling.
The Company can earn a 70 per cent interest in the Caballo
Blanco project from Almaden Minerals Ltd. by spending US$12 million
over a period of six years.
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. True thicknesses are not accurately
known at this time; in some cases they may be less than the core
lengths reported.
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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