Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX: AMM)(NYSE
Amex: AAU) is pleased to report its 2011 objectives, activities and
budgets for the exploration drilling program at Ixtaca as well as
on other projects in the Company's portfolio. There are significant
milestones planned in 2011 as part of Almaden's $C3-Million global
exploration program.
"Our goal for 2011 at Almaden is to outline the potential of the
Ixtaca Zone through a minimum $C2MM drill program. We also plan to
develop targets for drilling on several other prominent exploration
properties within the Company's large portfolio of 100% owned
projects and we can achieve this goal using the significant
treasury we have on hand," says Morgan Poliquin, Almaden President
and CEO. "The quality and exploration potential of our assets,
along with the strength of our people and finances, provide the
springboard for Almaden to prosper in the year ahead."
KEY OBJECTIVES
The Company plans to build on the exploration success of last
year, during which the Ixtaca drilling discovery was made. Since
the discovery hole announced in August 2010, the Company completed
a total of 14 holes in 2010, all of which intersected
mineralisation. The Ixtaca gold-silver epithermal vein system has
now been traced over 300 meters along strike. Highlights of the
drilling to date include high grade intersections of 4.10 m of 26
g/t Au, 936 g/t Ag (hole TU-10-1), 3.17 m of 10.5 g/t Au, 586 g/t
Ag (hole TU-10-12) and 1.77 m of 49 g/t Au, 1392 g/t Ag (hole
TU-10-11) as well as broad intersections such as 136.92 m of 1.5
g/t Au, 36 g/t Ag (hole TU-10-10), 45.01 m of 2.4 g/t Au, 157 g/t
Ag (hole TU-10-12), 203.65 m of 1.0 g/t Au, 44 g/t Ag (Hole
TU-10-11) and 126.22 m of 0.9 g/t Au, 62 g/t Ag (Hole TU-10-6). The
Company will advance this 100% owned project by carrying out a
large follow-up exploration drilling program to be expanded as
necessary. This program will be funded and managed by the
Company.
In the past Almaden has created value from its early-stage
exploration portfolio through option, joint-venture agreements and
property sales. This strategy will continue to be employed in 2011
in order to ensure the advancement of the Company's large
exploration portfolio. Almaden is well funded to advance its key
gold projects over the near-term. As of December 31, 2011, the
company has cash and short-term deposits of approximately $18
million and available for sale securities with a fair value of
approximately $6 million (includes 1600 ounces of gold). In 2011,
Almaden is focused on the following objectives and expectations on
its key projects in Mexico:
-Ixtaca, Mexico (100% owned): 20,000 metres of exploration
drilling, preliminary mineralogic and metallurgical studies.
Exploration for further vein zones is now underway including
prospecting, soil sampling and IP geophysics. Additional targets
defined will be drill tested in 2011.
-El Cobre, Mexico (JV 60% Almaden / 40% Goldgroup Mining): 5,000
meter exploration drill program to test this large porphyry
copper-gold system in partnership with Goldgroup Mining.
-Caballo Blanco, Mexico (100% Almaden, Goldgroup Mining has
option to earn 70%, Almaden carried to completion of bankeable
feasibity study): Goldgroup Mining has announced the start of a
30,000 meter exploration drilling program at the Caballo Blanco
project. Results are expected in 2011.
-Caldera, Mexico (100% Almaden, Windstorm Resources Inc. has
option to earn 60%): an initial 3,000 metres of drilling is
expected to commence in February, 2011.
-Other Mexican Projects: Almaden is advancing a regional
pipeline of projects in Mexico along trends identified from the
Company's extensive past exploration programs. These 100% owned
projects range from alteration zones that require target definition
through drill ready projects with targets well defined at surface.
These projects will be developed in 2011 using the Company's in
house geologic and exploration teams.
NEVADA PROJECTS
In 2008 through 2010 Almaden completed regional exploration
programs in Nevada which resulted in the identification of several
projects acquired 100% by the Company through staking.
-Willow, Nevada (100% Almaden): In 2010 the Company acquired
permits to drill. In 2011 a first stage drill program is planned to
test both a high sulphidation epithermal gold target and a porphyry
copper-gold target.
-Paradise East, Nevada (100% Almaden): The Company plans further
target definition work for a possible drill program in 2011.
-BP, Nevada (100% Almaden): This project was identified and
staked in 2010. It covers an area of hydrothermal alteration,
including extensive jasperoid development and clay alteration in
shale units. The Company plans a geophysical and geochemical
exploration program in 2011 to define targets for drilling.
CANADIAN PROJECTS
-Elk, B.C. (100% Almaden): in 2010 the Company commissioned a
43-101 compliant Preliminary Economic Assessment ("PEA") and
resource update on the open pit potential of this road accessible
project. The PEA was completed in January 2011 and has been filed
at www.sedar.com. In 2011 the Company seeks to advance the project
and create value for shareholders through partnership with a team
of production oriented professionals with the capacity to finance
new developments.
-Merit, B.C. (100% Almaden, Sunburst Explorations Inc. has
option to earn a 60% interest) target definition work was completed
by Sunburst in 2010 and drilling in expected in 2011.
-Nicoamen, B.C. (100% Almaden, Fairmont Resources Inc. has
option to earn a 60% interest) target definition work was completed
by Fairmont in 2010 and drilling in expected in 2011.
ABOUT ALMADEN
Almaden is a well-financed (no debt, approximately $C24 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.
Morgan J. Poliquin, Ph. D., P. Eng., the President and CEO of
Almaden, and a qualified person ("QP") under the meaning of
National Instrument 43-101, reviewed the technical information in
this news release. The analyses reported from the Ixtaca zone 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. Intervals that returned assays
below detection were assigned zero values. Metallurgical recoveries
and net smelter returns are assumed to be 100% for these
calculations. Registered geologist Jim Lunbeck, a QP under the
meaning of NI 43-101, will be the QP and project manager of
Almaden's 2011 Ixtaca program.
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
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