Almaden Options Caldera Project, Mexico
13 Settembre 2010 - 8:33PM
Marketwired
Almaden Minerals Ltd. ("Almaden" or "the Company")(TSX: AMM)(NYSE
Amex: AAU) is pleased to announce that it has optioned its 100%
owned Caldera project in Puebla State Mexico to Windstorm Resources
Inc. (TSX-V: WSR, "Windstorm"). The Caldera project is located
roughly 10 km from Almaden's new Ixtaca Zone discovery on its
Tuligtic property which was announced in August 2010 (see Almaden's
news releases of August 9th and 17th, 2010) with the discovery
intersection of 302.41 meters averaging 1.01 g/t gold and 48 g/t
silver, including 1.67 meters averaging 60.66 g/t gold and 2112 g/t
silver. The Caldera property covers an area of acid sulphate
alteration that has similarities to Almaden's Caballo Blanco
property, located 150 km to the east and under option to Goldgroup
Mining Inc. ("Goldgroup"). Goldgroup has announced a 43-101
compliant resource containing 34.3 million tonnes averaging 0.60
g/t Au (139,000 oz Au indicated and 517,000 oz Au inferred; see
Goldgroup 43-101 technical report of March 22, 2010).
J.D. Poliquin, chairman of Almaden commented, "Almaden has
developed exciting drill targets on several properties in our
portfolio including the Caldera project. With the company's focus
on the 100% owned Ixtaca discovery, the 60% owned El Cobre
copper-gold porphyry project and the 100% owned Elk project, we are
very pleased to be able to advance Caldera in partnership with
Windstorm."
The road accessible Caldera project was discovered by Almaden in
2007 and lies at the eastern end of the Trans Mexican Volcanic
Belt. The property covers an 8 km by 2 km zone of intense acid
sulphate alteration, including zones of massive to vuggy silica,
quartz-alunite and kaolinite that appears to represent the very top
levels of a well-preserved high sulphidation epithermal precious
metal system. Rock samples taken to date in areas of acid sulphate
alteration have returned values ranging from below detection to 40
ppb gold with elevated arsenic and mercury values. Work to date by
Almaden has included geological and alteration mapping, soil and
rock sampling and an induced polarization geophysical survey. High
priority target areas are characterized by a combination of intense
alteration, anomalous precious metal and pathfinder element
geochemistry and high resistivity. Drill permits are already in
place. Windstorm reports that it plans to complete a comprehensive
data review followed by a Phase I drilling program.
Windstorm has the right to earn up to a 60% interest in the
Caldera project by issuing 1,000,000 shares to Almaden and
completing $5,000,000 in exploration work over six years. Of the
work requirement, $150,000 is a firm commitment to be spent in the
first year of the agreement. This agreement is subject to TSX
Venture Exchange approval.
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. Blanks, field duplicates and
certified standards were inserted into sample stream for the
Company's drilling programs as part of a quality assurance and
control program which complies with National Instrument 43-101
requirements.
About Almaden
Almaden is a well-financed mineral exploration company working
in North America. The company has assembled mineral exploration
projects, including the Ixtaca Zone, 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 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, CEO and Director 604.689.7644 604.689.7645 (FAX)
www.almadenminerals.com
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