Almaden Minerals Ltd.: Drilling Recommences at Caballo Blanco, Mexico
27 Novembre 2008 - 8:52PM
Marketwired
Almaden Minerals Ltd. ("Almaden", "the Company") (TSX: AMM)(NYSE-A:
AAU) is pleased to announce the commencement of diamond drilling on
the Caballo Blanco gold project in the state of Veracruz, Mexico.
Two track-mounted core rigs have been mobilized to the property by
operating partner Canadian Gold Hunter Corp. ("CGH") (TSX: CGH)
which has the option to earn a 70% interest in the project from
Almaden. The planned program is up to 10,000 meters in two phases,
with the initial phase being 5,000 meters.
CGH has informed Almaden that the upcoming program is a
follow-up to the initial 18 core holes (3,355 m) drilled on the
Cerro La Paila high-sulphidation gold target from late 2007 to
mid-2008. That campaign generated very encouraging results with a
number of broad intervals that graded over one gram per tonne gold
(g/t Au), including drill hole 08CBN-004, which intersected 94.5
meters grading 2.09 g/t Au. The primary objective of the current
drill program is to define a resource at Cerro La Paila. The first
phase of the program will comprise 24 angled holes drilled along
east-west sections spaced at 50 meters. In addition, reconnaissance
drilling will be conducted at Cerro La Cruz and Cerro Bandera, two
other high-sulphidation gold targets within the Northern Zone.
Cerro La Paila is one of several gold targets within the much
larger Northern Zone, which is defined by a strong alteration
system extending over more than 20 square kilometers. Gold at Cerro
La Paila is hosted by a large body of complex vuggy silica breccias
containing abundant iron oxides partly exposed over a N-S distance
of 900 meters and up to 450 meters wide. The silica breccias are
well defined by a strong resistivity anomaly with similar surface
dimensions and considerable, but as yet undetermined, depth extent.
Gold, silver and several pathfinder metals define a prominent soil
anomaly over the exposed parts of the breccias. Cerro La Cruz, 700
meters south and Cerro Bandera, three kilometers SW of Cerro La
Paila, constitute two other areas of exposed massive silica and
vuggy silica breccias that are also coincident with strong
resistivity anomalies.
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 20 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 NYSE Alternext US 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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