Almaden Intersects 1.1 m of 26.56 g/t Au, 19.9 m of 1.38 g/t Au at its Elk Deposit, BC
08 Febbraio 2011 - 11:18PM
Marketwired
Almaden Minerals Ltd. (TSX: AMM)(NYSE Amex: AAU) ("Almaden" or "the
Company") is pleased to report results from the remaining
unreported holes drilled in 2010 at the Company's 100% owned Elk
gold project in southern BC. Significant intercepts from holes
SND-10-30 to 87 are reported in the table below. The holes were
drilled into the resource area where recently a 43-101 compliant
resource and the results of a positive Preliminary Economic
Assessment ("PEA") of the open pit potential have recently been
reported (see Almaden news release of January 24, 2011). The 2010
drill program was designed to increase the confidence level of the
resource and expand the known mineralisation. Results include broad
intervals of gold mineralisation such as 7.22 meters of 2.39 g/t
gold (hole SND-10-59) and 19.9 meters of 1.38 g/t gold (SND-10-87).
High-grade intersections were also intersected including 1.1 meters
of 26.56 g/t Au (hole SND-10-34), 2.45 meters of 15.36 g/t gold
(hole SND-10-64), 0.8 meters of 21 g/t Au (hole SND-10-59) and 0.8
meters of 25.7 g/t gold (hole SND-10-79).
Morgan Poliquin, CEO of Almaden commented, "These final results
from our 2010 program are continued confirmation of both the high
grade and bulk tonnage potential of the Elk deposit. We are excited
about the resource we have developed at Elk and the positive
results of the recently released Preliminary Economic
Assessment."
Brian Alexander, P.Geo., a qualified person under the meaning of
National Instrument 43-101, is supervising the 2010 exploration
program at the Elk Project and has 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. Intervals that returned assays below detection were
assigned zero values. Composites were calculated using a cut-off
grade of 0.25 g/t gold and with a maximum of 5 meters internal
dilution (values below 0.25 g/t). Reported widths are intersection
and not true widths.
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 six projects (Caldera, 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.
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Zone Hole # From (m) To (m) Width (m) Gold (g/t)
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Resource Area SND-10-30 13.16 13.40 0.24 3.81
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Resource Area SND-10-30 41.70 41.90 0.20 4.19
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Resource Area SND-10-30 97.70 101.75 4.05 0.70
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Resource Area includes 28.86 29.84 0.98 1.19
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Resource Area SND-10-31 41.20 41.45 0.25 15.55
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Resource Area SND-10-31 66.15 68.68 2.53 2.87
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Resource Area SND-10-31 184.93 186.35 1.42 6.95
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Resource Area SND-10-33 17.27 17.59 0.32 9.12
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Resource Area SND-10-34 24.65 28.00 3.35 2.87
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Resource Area SND-10-34 32.80 44.85 12.05 0.51
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Resource Area SND-10-34 152.00 156.35 4.35 6.96
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Resource Area includes 152.00 153.10 1.10 26.56
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Resource Area SND-10-35 7.94 16.90 8.96 0.72
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Resource Area includes 7.94 8.17 0.23 18.90
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Resource Area SND-10-37 129.25 132.35 3.10 1.78
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Resource Area SND-10-38 128.84 129.12 0.28 4.64
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Resource Area SND-10-38 153.85 154.78 0.93 0.92
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Resource Area SND-10-39 107.05 111.37 4.32 3.86
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Resource Area includes 109.75 110.10 0.35 45.70
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Resource Area SND-10-50 187.80 190.50 2.70 3.50
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Resource Area includes 189.30 190.50 1.20 8.62
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Resource Area SND-10-51 28.96 29.22 0.26 4.52
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Resource Area SND-10-51 97.20 98.00 0.80 0.71
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Resource Area SND-10-52 213.00 215.55 2.55 2.58
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Resource Area SND-10-54 85.75 87.30 1.55 1.00
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Resource Area SND-10-55 105.75 110.85 5.10 0.75
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Resource Area SND-10-56 191.46 192.32 0.86 0.63
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Resource Area SND-10-57 100.30 100.70 0.40 1.62
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Resource Area SND-10-59 53.03 54.55 1.52 3.30
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Resource Area SND-10-59 146.58 153.80 7.22 2.39
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Resource Area includes 153.00 153.80 0.80 21.00
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Resource Area SND-10-60 208.70 209.00 0.30 13.95
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Resource Area SND-10-61 70.75 71.93 1.18 0.63
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Resource Area SND-10-61 144.47 146.15 1.68 0.46
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Resource Area SND-10-62 110.05 112.00 1.95 3.13
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Resource Area SND-10-62 177.42 177.95 0.53 11.71
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Resource Area SND-10-64 80.95 83.40 2.45 15.36
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Resource Area includes 82.10 83.40 1.30 28.23
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Resource Area SND-10-65 114.60 114.91 0.31 17.80
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Resource Area SND-10-65 152.14 153.00 0.86 2.53
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Resource Area SND-10-67 76.50 82.70 6.20 0.44
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Resource Area SND-10-67 162.88 164.26 1.38 0.89
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Resource Area SND-10-68 121.05 129.15 8.10 0.35
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Resource Area SND-10-68 201.84 207.78 5.94 0.27
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Resource Area SND-10-69 34.77 35.35 0.58 5.73
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Resource Area SND-10-69 165.05 165.61 0.56 0.28
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Resource Area SND-10-70 29.22 32.98 3.76 1.99
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Resource Area SND-10-71 98.05 99.77 1.72 4.40
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Resource Area SND-10-73 38.95 39.30 0.35 4.27
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Resource Area SND-10-74 8.61 9.47 0.86 1.67
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Resource Area SND-10-74 39.99 40.84 0.85 3.08
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Resource Area SND-10-77 47.27 48.77 1.50 7.58
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Resource Area includes 48.27 48.57 0.30 35.90
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Resource Area SND-10-77 74.74 76.41 1.67 0.95
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Resource Area includes 76.15 76.41 0.26 5.74
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Resource Area SND-10-78 86.91 89.21 2.30 1.33
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Resource Area SND-10-79 134.70 135.20 0.50 14.25
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Resource Area SND-10-79 158.50 159.30 0.80 25.70
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Resource Area SND-10-79 195.15 197.50 2.35 5.10
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Resource Area SND-10-80 20.61 21.70 1.09 5.93
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Resource Area SND-10-83 63.30 68.00 4.70 0.89
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Resource Area includes 63.30 64.60 1.30 2.66
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Resource Area SND-10-84 56.02 57.33 1.31 0.71
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Resource Area SND-10-84 92.73 93.68 0.95 3.77
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Resource Area SND-10-84 102.34 103.82 1.48 0.61
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Resource Area SND-10-85 33.86 34.88 1.02 0.81
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Resource Area SND-10-86 39.12 40.58 1.46 1.14
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Resource Area SND-10-86 70.01 74.20 4.19 1.44
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Resource Area includes 70.01 70.32 0.31 10.15
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Resource Area includes 73.79 74.20 0.41 6.33
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Resource Area SND-10-86 116.27 117.05 0.78 1.30
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Resource Area SND-10-87 65.20 85.10 19.90 1.38
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Resource Area includes 65.20 65.40 0.20 14.65
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Resource Area includes 67.50 74.00 6.50 2.51
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Resource Area SND-10-87 78.00 83.00 5.00 1.43
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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, Ph.D.,
P.Eng. President, CEO and Director 604.689.7644 604.689.7645 (FAX)
www.almadenminerals.com
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