Almaden Acquires New Gold-Silver Project Along Ixtaca Trend
16 Agosto 2010 - 9:32PM
Marketwired
Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX: AMM)(NYSE
Amex: AAU) is pleased to announce that it has acquired a 100%
interest in the approximately 10,000 hectare Tierra property
through staking. The Tierra property is also located in Puebla
State roughly 30 kilometres from Almaden's 100% owned Tuligtic
project where the Company recently announced a significant drilling
discovery at the Ixtaca Zone (see Almaden news release of August 9,
2010; TU-10-1 intersected 1.01 g/t gold and 48 g/t silver over
302.41 meters).
The Tierra project covers a broad area of intense clay and
silica alteration developed in volcanic rocks which overlie
deformed Cretaceous carbonate units. Stream sediment samples taken
by Almaden have returned anomalous arsenic, antimony and mercury
values. This geological setting interpreted to be very similar to
that at the Ixtaca zone, represented the shallow portions of a well
preserved epithermal system.
The acquisition of the Tierra project adds to Almaden's
portfolio of properties in central Mexico which includes the 100%
Almaden owned Caldera and Lajas properties, both acquired through
staking. The Ixtaca, Caldera, Tierra and Lajas properties are
located near or within the Trans Mexican Volcanic Bell, and all are
less than 150 kilometres from the Pachuca gold/silver deposit which
has reported historic production of 1.4 billion ounces of silver
and 7 million ounces of gold. The Ixtaca Zone is a drilling
discovery beneath barren kaolinite and silica alteration. The
Caldera project is located roughly 10 kilometers from the Ixtaca
zone and covers an area of intense acid-sulphate alteration
including zones of massive to vuggy silica, quartz-alunite and
kaolinite over an 8 by 2 kilometre area. Rock samples taken to date
in areas of acid sulphate alteration have returned values from
below detection to 40 ppb gold. High values of arsenic and mercury
were also returned in this sampling program. Almaden's management
believes that the Caldera project represents a well preserved high
sulphidation system. The Lajas project covers outcropping quartz
veins that were identified in a regional exploration program. Three
reconnaissance rock grab and chip samples taken by Almaden returned
an average of 3.2 g/t gold and a high of 9.3 g/t gold over a 0.3
meter width. Recent soil sampling at Lajas has outlined a broad
area of anomalous gold and trace metal elements consistent with
epithermal mineralisation.
J.D. Poliquin, Chairman of Almaden commented, "The Caldera,
Lajas and recently acquired Tierra projects are a testament to our
on-going prospect generation efforts. All three, while early stage,
cover large underexplored alteration zones. Our recent Ixtaca
discovery shows that such targets have the potential to host
significant mineralisation. As Almaden plans to focus on the Ixtaca
Zone and its JV El Cobre porphyry copper-gold project in Veracruz
State, the Company seeks qualified and technically proficient
partners with whom to jointly explore the Caldera, Lajas and Tierra
projects."
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 Ixtaca.
Currently five projects (Caballo Blanco, Tropico, Nicoamen River,
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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