Almaden Minerals Ltd.: 54.86 Metres Grading 1.31 g/t Gold Intersected at Caballo Blanco, Mexico
23 Settembre 2008 - 7:59PM
Marketwired
Almaden Minerals Ltd. ("Almaden", "the Company") (TSX: AMM)(AMEX:
AAU) is pleased to report that it has received additional assay
results from the Cerro la Paila gold target and the Pedrero and
Porvenir porphyry gold-copper targets of its Caballo Blanco project
in Veracruz, Mexico from operating partner Canadian Gold Hunter
Corp. Core hole 08CBN-018 intersected 13.72 meters grading 3.21 g/t
(grams per metric tonne) Au (gold) within a broader 54.9 metre
interval grading 1.31 g/t Au in iron-oxide-cemented, vuggy silica
breccias on the Cerro la Paila gold target in the Northern Zone. In
addition, thick copper-gold intercepts are reported for eight holes
in two porphyry copper-gold targets on the Central Grid. The
drilling at the Pedrero target is the first to have been conducted
in this area and returned 41,15 meters grading 0.42 g/t Au and
0.27% Copper to the end of the hole which was lost at 187.45
meters. Below are significant assays from this latest drilling in
tabularized form.
J.D. Poliquin, Chairman of Almaden commented, "These new results
from Cerro La Paila help confirm the presence of a large well
mineralized gold system. We are very pleased to hear that Canadian
Gold Hunter will be using larger rigs when drilling resumes in
November. Our management is also very excited by the porphyry style
mineralization identified elsewhere on the project. While
preliminary, these results indicate that porphyry style
mineralization exists along a trend at least three kilometers long.
Almaden looks forward to the results that will come from the next
round of drilling in the promising new Pedrero target where hole
08CBN-022 ended in mineralization."
Significant assay results for 07CBN-018 & 020 in Cerro la Paila.
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Interval Width Au Ag
Drill Hole Az/Angle Depth (m) (m)(i) (m)(i) g/t g/t
--------------------------------------------------------------------------
08CBN-018 090 degrees/ 179.83 71.63-126.49 54.86 1.31 1.4
-50 degrees
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including 91.44-105.16 13.72 3.21 3.5
--------------------------------------------------------------------------
08CBN-020 090 degrees/ 199.64 97.54-199.64 102.1 0.19 0.5
-70 degrees
--------------------------------------------------------------------------
including 135.64-169.16 33.52 0.31 0.8
--------------------------------------------------------------------------
Significant assay results for 07CBCN-019, 021, 022 & 024 in Pedrero.
--------------------------------------------------------------------------
Interval Width Au Cu
Drill Hole Az/Angle Depth (m) (m)(i) (m)(i) g/t %
--------------------------------------------------------------------------
08CBCN-019 180 degrees/ 187.45 146.30-187.45 41.15 0.42 0.27
-50 degrees
--------------------------------------------------------------------------
08CBCN-021 180 degrees/ 108.20 No significant results
-50 degrees
--------------------------------------------------------------------------
08CBCN-022 180 degrees/ 304.19 132.89-281.33 148.44 0.21 0.17
-50 degrees
--------------------------------------------------------------------------
08CBCN-024 180 degrees/ 210.00 56.38-89.91 33.53 0.46 0.02
-50 degrees
--------------------------------------------------------------------------
Significant assay results for 07CBCN-023,025-028 in Porvenir.
--------------------------------------------------------------------------
Interval Width Au Cu
Drill Hole Az/Angle Depth (m) (m)(i) (m)(i) g/t %
--------------------------------------------------------------------------
08CBCN-023 180 degrees/ 295.13 12.19-131.06 118.87 0.15 0.12
-50 degrees
--------------------------------------------------------------------------
08CBCN-025 180 degrees/ 318.51 117.35-163.06 45.71 0.25 0.14
-75 degrees
--------------------------------------------------------------------------
08CBCN-026 180 degrees/ 349.91 94.48-204.21 109.73 0.27 0.17
-50 degrees
--------------------------------------------------------------------------
08CBCN-027 360 degrees/ 272.80 91.44-115.82 24.38 0.16 0.18
-60 degrees
--------------------------------------------------------------------------
08CBCN-028 180 degrees/ 403.86 39.62-403.86 364.24 0.17 0.12
-75 degrees
--------------------------------------------------------------------------
(i) Intervals are core lengths and true widths may be less than reported
here.
CGH reports that the initial phase of drilling in the Northern
Zone has been completed. Nineteen holes totaling 3,464 metres were
drilled. At Cerro la Paila, gold-bearing silica breccias have now
been traced by surface sampling and diamond drilling over a
north-south distance of 750 metres and up to about 350 metres in an
east-west direction. The gold-bearing breccias are up to 150 metres
thick; however on many sections the drill holes were abandoned in
mineralized silica breccia and the depth extent of the
mineralization is not known. The best hole drilled at Cerro la
Paila is 08CBN-004, which intersected 94.5 metres grading 2.09 g/t
gold. The next phase of drilling at Cerro la Paila, which is
scheduled to start in early November, 2008, will be completed using
larger drill rigs that are capable of drilling deeper holes.
On the Central Grid 2,467 metres were drilled in nine holes to
test two targets, Pedrero and Porvenir, which are gold-rich
porphyry targets defined by coincident magnetic, I.P. and
geochemical anomalies. Pedrero and Porvenir are separated by almost
three kilometres and are part of a very large sulphide system as
defined by I.P. surveys. Broad intervals of copper-gold
mineralization are associated with intensely altered monzodiorite
intrusions. Additional targets within the Central Grid will be
drill tested in the next phase of drilling.
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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