Almaden Extends Ixtaca Zone, Intersects 126.22 m of 0.86 g/t Au and 61.7 g/t Ag Including 19.18 m of 2.84 g/t Au and 160.2 g/t A
24 Novembre 2010 - 11:38PM
Marketwired
Almaden Minerals Ltd. ("Almaden" or "the Company" (TSX: AMM)(NYSE
Amex: AAU) is pleased to report the results from hole TU-10-6,
located about 110 meters away (northeast) of the recently reported
holes TU-10-4 and TU-10-5 from the Company's 100% owned Ixtaca
zone, located in Puebla State, Mexico. The attached plan map shows
the locations of all holes drilled or underway. Hole TU-10-6 was
collared with an azimuth of 150 degrees and dip of -50 degrees and
intersected multiple quartz-carbonate-sulphide vein zones over
significant widths. The entire zone of veining averaged 0.86 g/t
gold and 61.7 g/t silver (2.1 g/t AuEq or 105 g/t AgEq) over 126.22
meters (from 295.58 to 421.80 meters). Multiple higher grade
intervals were also intersected within this zone including 19.18
meters (from 317.50 to 336.68 meters) of 2.84 g/t gold and 160.2
g/t silver (6.0 g/t AuEq or 302 g/t AgEq). Both the broad intervals
of veining and high grade gold-silver zones are tabularised below.
J.D. Poliquin, Chairman of Almaden commented, "Step out drilling
in hole TU-10-6 has confirmed the presence of the broad zone of
epithermal veining at Ixtaca 100 meters northeast of the most
recently reported section (holes TU-10-4 and TU-10-5; see Almaden
news release of November 23, 2010). While further holes are
necessary to be confident with the orientation of the veins in this
blind discovery, drilling continues to expand this zone of veining
and we are very encouraged with the results received to date."
Project Details
The property lies within the Trans Mexican Volcanic Belt about
120 kilometres southeast of 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 vein zone is a blind
discovery with little surface manifestation. Based upon
observations at surface and of core as drilling progresses, there
is now thought to be at least two major sets of veins; one along
bedding striking roughly 150 to 170 degrees and one perpendicular
to bedding striking roughly 50 to 70 degrees. Hole TU-10-6, as were
the previously reported TU-10-2, 3, 4 and 5, was drilled parallel
to bedding at 150 degrees azimuth. While this orientation was
deemed best to intersect the 50 degree striking vein set,
management now interprets that this drilling azimuth may in fact be
parallel to the other major vein set. The overall vein zone is
thought to have a north-easterly trend but true widths cannot be
calculated with confidence at this time. Drilling has resumed at
100 degrees, an orientation currently thought to best intersect
both sets of veining as well as mineralised dikes, the orientation
of which is not currently understood.
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 the sample stream as part of
Almaden's quality assurance and control program which complies with
National Instrument 43-101 requirements. Gold equivalent ("AuEq" or
"Gold Eq.") and silver equivalent ("AgEq" or "Silver Eq.") values
were calculated using silver to gold ratios of 50 to 1. Previous
news releases used silver to gold ratios of 65 to 1. Intervals that
returned assays below detection were assigned zero values.
Metallurgical recoveries and net smelter returns are assumed to be
100% for these calculations. Intervals that returned assays below
detection were assigned zero values.
------------------------------------------------------------------------
Gold Silver
Inter- Gold Silver Eq Eq
Hole # From (m) To (m) val (m) (g/t) (g/t) (g/t) (g/t)
------------------------------------------------------------------------
TU-10-6 111.16 111.82 0.66 0.56 62.1 1.8 90
------------------------------------------------------------------------
TU-10-6 222.57 233.89 11.32 0.12 22.2 0.6 28
------------------------------------------------------------------------
TU-10-6 273.26 277.52 4.26 1.41 130.4 4.0 201
------------------------------------------------------------------------
TU-10-6 including 273.26 275.95 2.69 2.09 202.6 6.1 307
------------------------------------------------------------------------
TU-10-6 295.58 421.80 126.22 0.86 61.7 2.1 105
------------------------------------------------------------------------
TU-10-6 including 295.58 340.65 45.07 1.38 92.3 3.2 161
------------------------------------------------------------------------
TU-10-6 and 317.50 336.68 19.18 2.84 160.2 6.0 302
------------------------------------------------------------------------
TU-10-6 and 317.50 319.69 2.19 6.66 474.9 16.2 808
------------------------------------------------------------------------
TU-10-6 and 331.61 336.68 5.07 5.45 242.4 10.3 515
------------------------------------------------------------------------
TU-10-6 and 331.61 333.66 2.05 9.15 310.2 15.4 768
------------------------------------------------------------------------
TU-10-6 and 345.47 359.05 13.58 0.89 72.6 2.3 117
------------------------------------------------------------------------
TU-10-6 and 379.50 421.80 42.30 0.77 61.2 2.0 100
------------------------------------------------------------------------
TU-10-6 and 405.85 412.07 6.22 2.55 209.2 6.7 336
------------------------------------------------------------------------
TU-10-6 and 410.87 412.07 1.20 6.83 482.4 16.5 824
------------------------------------------------------------------------
Table 1: Intervals Hole TU-10-6
About Almaden
Almaden is a well-financed (no debt, approximately $C25 MM in
working capital) 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, silver and copper deposits as evidenced at
Ixtaca. Currently six projects (Caldera, 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
funding and consequent share dilution 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.
To view the maps associated with this press release, please
click on the following link:
http://media3.marketwire.com/docs/a1124m.pdf
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.
The Toronto Stock Exchange and NYSE AMEX 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, Ph.D.,
P.Eng. President, CEO and Director 604.689.7644 604.689.7645 (FAX)
www.almadenminerals.com
Grafico Azioni Almaden Minerals (TSX:AMM)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Almaden Minerals (TSX:AMM)
Storico
Da Lug 2023 a Lug 2024