Almaden Minerals Ltd.: 80.8 Metres Grading 1.23 g/t Gold and 89.9 Metres Grading 1.11 g/t Gold Intersected at Caballo Blanco Pro
05 Giugno 2008 - 7:16PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX: AMM)(AMEX: AAU) is pleased to
report that it has received additional assay results from the Cerro
la Paila gold target of its Caballo Blanco project in Veracruz,
Mexico from operating partner Canadian Gold Hunter Corp. ("CGH")
(TSX: CGH).
Core hole 08CBN-008 intersected 80.8 metres grading 1.23 g/t Au
(grams gold per metric ton) in complex iron-oxide-cemented, vuggy
silica breccias. The hole was abandoned in bad ground in vuggy
silica breccia at 213.66 meters. The last 20.11 meters of the hole
grades 0.90 g/t Au.
08CBN-009 was drilled to a depth of 135.03 meters, where the
hole was abandoned due to a total loss of circulation in cavernous
vuggy silica breccias. The bottom 16.77 meters of the hole assayed
1.35 g/t gold, with the last two assays (3.05 m.) averaging 2.35
g/t Au.
08CBN-011 was drilled to a depth of 189.89 metres, where the
hole was abandoned due to loss of circulation in vuggy silica
breccia. The last 89.92 metres grades 1.11 g/t gold despite having
two 3.05 metre intervals with no recovery that were given a gold
grade of zero. Holes CBN-008, 009 and 011 encountered clay-altered
andesitic volcanic rocks above the vuggy silica breccias that host
the gold at Cerro la Paila.
Significant assay results for 07CBN-006 to 011 are listed in the
table below:
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Depth Interval Width Au Ag
Drill Hole Az/Angle (m) (m)(ii) (m)(ii) g/t g/t
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--------------------------------------------------------------------------
08CBN-006 090 degrees/ 173.20 38.00-48.77 10.77 0.03 425.7
-50 degrees
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08CBN-007 090 degrees/ 187.45 No significant intersections
-70 degrees
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08CBN-008(i) 090 degrees/ 213.66 54.86-213.66 158.80 0.85 2.3
-50 degrees
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including 54.86-135.64 80.78 1.23 3.5
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including 54.86-74.68 19.82 2.26 3.3
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and 193.55-213.66 20.11 0.90 1.0
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08CBN-009(i) 090 degrees/ 135.03 84.73-135.03 50.30 0.66 5.9
-50 degrees
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including 118.26-135.03 16.77 1.35 7.1
--------------------------------------------------------------------------
08CBN-010(i) 090 degrees/ 22.25 No significant intersections
-70 degrees
--------------------------------------------------------------------------
08CBN-011(i) 270 degrees/ 189.89 99.97-189.89 89.92 1.11 1.4
-60 degrees
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including 101.49-116.73 15.24 2.07 1.8
--------------------------------------------------------------------------
and including 144.17-177.70 33.53 1.45 1.9
--------------------------------------------------------------------------
Notes: (i) Hole lost above planned target depth. (ii) Intervals are core
lengths and true widths may be less than reported here.
J.D. Poliquin, Chairman of Almaden, commented, "We at Almaden
are pleased with the work being conducted by our partner and are
very encouraged by the new results. These holes, along those
previously released, demonstrate continuity over a considerable
distance of wide intervals with significant gold values. The Cerro
la Paila zone is one of many zones of alteration and mineralization
identified on the property. We look forward to the results to come
from the aggressive drill program now underway."
Core holes 08CBN-006 and 007 were drilled entirely within
clay-altered andesitic volcanic rocks at the northern end of Cerro
la Paila. Gold grades are low in both holes but CBN-006 intersected
10.77 meters of 425.7 g/t Ag (12.4 ounces/short ton silver). It
appears that locally high silver grades define the margins of the
gold-dominant system at Cerro la Paila. Hole 08CBN-010 was drilled
from the same location as holes 009 & 011 but was abandoned at
22.25 metres in clay-altered andesite.
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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