Almaden Commences Exploration at ATW Diamond Prospect, NWT
14 Febbraio 2011 - 10:26PM
Marketwired
Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX: AMM)(NYSE
Amex: AAU) is pleased to report that its winter 2011 joint venture
("JV") exploration program at its 58.8% owned ATW Diamond Property
is now underway. The JV is operated by Almaden and all parties have
a working interest. The ATW diamond property is located at Mackay
Lake, NWT and is in close proximity to a number of active diamond
projects: The Diavik Mine lies about 29 kilometres north, the Snap
Lake Project is about 68 kilometres southwest, the Mountain
Province/De Beers Gacho Kue Project is about 72 kilometres
southeast, and Peregrine Diamonds Ltd.'s DO-27 Kimberlite lies 20
kilometres to the northeast.
Morgan Poliquin, CEO of Almaden commented, "The ATW property is
located in one of the premier terrains in the world for diamond
bearing kimberlite pipes. This year's exploration program at ATW is
designed to find the source area of a very promising indicator
mineral train which the Company interprets to represent the debris
from a kimberlite. We hope the results of the program will help
define the source area for future more focussed drilling."
The winter 2011 ATW Diamond Property exploration program will
comprise the completion of approximately 134 sonic overburden drill
holes. The holes will be drilled within a 3 kilometre by 4
kilometre area of interest that lies at the at the "up ice"
terminus of a 20 kilometre long kimberlite indicator mineral (KIM)
dispersion train. The dispersion train has been traced "up ice" and
easterly under MacKay Lake over several campaigns by Almaden and
partners. The purpose of the 2011 drill program is to define the
"up ice" and lateral extent of the head of the KIM dispersion train
under Mackay Lake. Previous sonic drilling campaigns completed
during 2003 and 2008 (see Almaden Minerals Ltd. press release:
October 22, 2008) have defined the southern and "up ice" (eastern)
cut-off of the dispersion train, resulting in the definition of the
present high priority area if interest. Based on the results of
winter 2011 exploration, targets will be chosen for diamond drill
testing during winter 2012. The 2011, ATW Diamond Project
exploration program is being conducted under the supervision of
Kristopher J. Raffle, P.Geo., APEX Geoscience Ltd. Mr. Raffle is a
qualified person as defined by National Instrument 43-101 and is
responsible for the preparation and approval of the technical
information disclosed in the News Release.
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.
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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