Almaden Generates BP Carlin-Type Project in Nevada
13 Agosto 2010 - 10:45PM
Marketwired
Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX: AMM)(NYSE
Amex: AAU) is pleased to announce that it has located 207 claims in
Mineral County Nevada in an area identified during a helicopter
borne prospecting program in central Nevada. This prospecting
program utilised geological models and Aster satellite imagery to
target unrecognised Carlin type mineralisation. J.D. Poliquin,
chairman of Almaden commented, "Our prospecting and project
generation programs continue to yield results and we are very
excited about the acquisition of the BP project in Nevada. We look
forward to following up this discovery with property scale work in
the near future."
The claims cover an area of jasperoid and clay alteration
developed in an exposed debris flow in lower plate rocks, the
geologic succession that hosts many of the important gold deposits
in northern Nevada. The alteration and host rocks are typical of
that of major Carlin type deposits in Nevada and the prospect is
located roughly 30 miles from the Carlin district along the Carlin
trend. The prospect is located nearby good access but off roads and
no evidence of past work was noted in the area except for several
small barite workings. No significant gold values were returned
from the reconnaissance sampling however these rock samples did
have anomalous trace elements typical of Carlin type systems.
Almaden intends to advance this new prospect with detailed surface
sampling and mapping in order to define drill targets.
Morgan J. Poliquin, Ph.D., P.Eng., the President and CEO of
Almaden, and a qualified person under the meaning of National
Instrument 43-101, reviewed the technical information in this news
release. The analyses reported 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 well-financed mineral exploration company working
in North America. The company has assembled mineral exploration
projects, including Tuligtic, through its grass roots exploration
efforts. While the properties are largely at early stages of
development they represent exciting opportunities for the discovery
of significant gold and copper deposits as evidenced at the
Company's Ixtaca project where a drilling discovery was recently
made (see Almaden news release of August 9, 2010). Currently five
projects (Caballo Blanco, Tropico, Nicoamen River and Matehuapil
and Merit), are optioned to separate third parties who each have
the right to acquire an interest in the respective project from
Almaden through making certain payments and exploration
expenditures. Four further projects are held in joint ventures.
Almaden also holds a 2% NSR interest in 11 projects. Almaden's
business model is to find and acquire mineral properties and
develop them by seeking option agreements with others who can
acquire an interest in a project by making payments and exploration
expenditures. Through this means the company has been able to
expose its shareholders to discovery and capital gain without the
capital that would be required if the company were to have
developed these projects without a partner. The company intends to
expand this business model, described by some as prospect
generation, by more aggressively exploring several of its projects
including the Ixtaca Zone.
On Behalf of the Board of Directors
Morgan J. Poliquin, Ph.D., P.Eng., President, CEO 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. Except for the statements of historical fact contained
herein, certain information presented constitutes "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and Canadian securities
laws. Such forward-looking statements, including but not limited
to, those with respect to potential expansion of mineralization,
potential size of mineralized zone, and size and timing of
exploration and development programs, estimated project capital and
other project costs and the timing of submission and receipt and
availability of regulatory approvals involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievement of Almaden to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such
factors include, among others, risks related to international
operations and joint ventures, the actual results of current
exploration activities, conclusions of economic evaluations,
uncertainty in the estimation of mineral resources, changes in
project parameters as plans continue to be refined, environmental
risks and hazards, increased infrastructure and/or operating costs,
labour and employment matters, and government regulation and
permitting requirements as well as those factors discussed in the
section entitled "Risk Factors" in Almaden's Annual Information
form and Almaden's latest Form 20-F on file with the United States
Securities and Exchange Commission in Washington, D.C. Although
Almaden has attempted to identify important factors that could
cause actual results to differ materially, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate as actual results and future events could differ
materially from those anticipated in such statements. Almaden
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, other than as required pursuant to
applicable securities laws. Accordingly, readers should not place
undue reliance on forward-looking statements.
Neither the Toronto Stock Exchange (TSX) nor the NYSE AMEX have
reviewed or accepted any 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, Ph.D.,
P.Eng. President, CEO and Director 604-689-7644 604-689-7645 (FAX)
www.almadenminerals.com
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