Almaden Minerals Ltd.: New Copper-Gold Zone Discovered at San Carlos, Mexico
15 Ottobre 2008 - 10:04PM
Marketwired
Almaden Minerals Ltd. ("Almaden", "the Company") (TSX: AMM)(NYSE-A:
AAU) is pleased to report on its 2008 exploration results from its
wholly owned San Carlos property in Mexico where field crews of
Almaden have been working in July, August and September of this
year.
The 100% owned San Carlos Project is located in northern Mexico
about three hours south of Monterrey City in Tamaulipas State.
Almaden has had two past partners explore this project. The results
of this work have defined a large intrusion hosted copper-gold
porphyry system associated with peripheral skarns developed in
carbonate rocks. In 2003 a past partner drilled three holes located
peripheral to a now better defined target area but the target
itself has not been drill tested. Results from this drilling
included 245.27 meters of 0.04% Cu and 0.008% Mo, and 12 meters of
0.11% Cu in a separate hole. Assays reported from this drill
program were analysed at Acme Analytical Laboratories of Vancouver
using industry standard fire assay and ICP methodologies.
Almaden's 2008 program consisted of soil sampling, IP geophysics
and a limited sampling and mapping program. The soil sampling and
geophysical grid was set up over an area of hydrothermal alteration
within a stockwork veined intrusive body. A total of 554 soil
samples were taken on a 200 meter by 50 meter grid and IP
geophysics was conducted on the 200 meter spaced east west lines.
This work identified a broad area of elevated copper and molybdenum
in soil now called the main zone and a smaller area to the west,
now known as the Lupe zone, of elevated gold, silver, copper,
molybdenum in soil and chargeability responses. The Lupe zone is a
new discovery and was not identified prior to this 2008 program.
The sampling and geophysics conducted over the main zone outlined a
1.5 kilometer by 500 meter zone that remains open to the south, of
highly elevated chargeability, magnetic response and copper,
molybdenum and gold in values in soils. Argillic altered and
quartz-sulphide veined intrusive rocks have been identified in this
area. A grab sample taken of outcropping argillic altered and
stockwork veined intrusive taken at the northern edge of the main
zone returned 0.19% copper.
Overall the 554 soil samples range from 0.0006 to 5.1 g/t gold
(averaging 0.045 g/t gold), 13 ppm to 33,887 ppm (3.4%) copper
(averaging 574 ppm copper), 0.04 to 30.8 ppm silver (averaging 0.6
ppm silver) and 0.37 to 236 ppm molybdenum (averaging 6.65 ppm
molybdenum).
Within the Lupe zone which has been traced for over 1 kilometre
along strike the gold in soil samples range from 0.0055 to 0.64 g/t
gold (averaging 0.068 g/t gold), 79.3 ppm to 15,221 ppm (1.5%)
copper (averaging 1,095 ppm copper), 0.1 to 7.6 ppm silver
(averaging 1.1 ppm silver) and 0.6 to 73.3 ppm molybdenum
(averaging 6.5 ppm molybdenum). The Lupe zone soil anomaly occurs
on top and along the flanks of a ridge which is underlain by a
discrete chargeability anomaly interpreted to reflect elevated
sulphides. This anomaly is at least 200 meters across along the
five two hundred meter lines surveyed with IP geophysics. On one of
these lines 8 consecutive 50 meter spaced soil samples over 400
meters ranged from 621 ppm to 3690 ppm copper (0.37% copper) and
averaged 1331 ppm copper (0.13% copper). These same samples ranged
from 19.6 ppb to 100 ppb gold, averaging 56 ppb gold. Almaden's
management believes that this new geochemical and geophysical
anomaly relates to the porphyry system already identified on the
property. A zone of stockwork veining and boulders of skarn float
have been identified in the area.
Neither the newly discovered Lupe zone nor the now better
defined main zone have been drill tested and represent exciting
porphyry related targets in the managements view. Mapping and rock
chip sampling is scheduled to begin in late October to further
advance this new target.
Morgan J. Poliquin, P. Eng., the President and COO of Almaden
and a qualified person under the meaning of National Instrument
43-101 reviewed the technical information in this news release.
Analyses were carried out at ALS Chemex Laboratories of North
Vancouver using industry standard aqua regia, ICP and fire assay
techniques.
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 in Mexico, Canada and the United States 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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