Almaden's Step-Out Drilling Expands Ixtaca Zone and Intersects More High-Grade Intervals
21 Marzo 2011 - 9:57PM
Marketwired
Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX: AMM)(NYSE
Amex: AAU) is pleased to announce that it has received results from
holes TU-11-15 through 17 drilled on the Ixtaca zone of its 100%
owned Tuligtic property. Holes TU-11-15 and TU-11-17 were drilled
on a section located 35 meters along strike from hole TU-10-6, the
last previous hole drilled to the northeast. Hole TU-11-16 was
drilled on the section with previously announced drill holes
TU-10-11 and TU-10-13 and was drilled from the other (southeast)
side of the Ixtaca zone, to test the up-dip extent of
mineralisation. All three holes intersected broad zones of
mineralisation comprised of numerous veins and veinlets as well as
altered and veined dykes. All three holes also intersected high
grade mineralisation within the broad zone of mineralisation.
Highlights from the current group of assays include the
following intercepts:
Hole TU-11-15:
137.7 meters @ 0.82 g/t gold and 28.4 g/t silver
including 2.30 meters @ 31.46 g/t gold and 69.4 g/t silver
and 1.18 meters @ 3.49 g/t gold and 237.5 g/t silver
Hole TU-11-16:
201.35 meters @ 0.99 g/t gold and 86.2 g/t silver
including 1.89 meters @ 3.68 g/t gold and 776.1 g/t silver
and 4.40 meters @ 4.33 g/t gold and 577.3 g/t silver
and 3.02 meters @ 6.13 g/t gold and 601.9 g/t silver
and 4.53 meters @ 4.19 g/t gold and 280.3 g/t silver
and 2.61 meters @ 5.74 g/t gold and 336.9 g/t silver
and 7.36 meters @ 2.46 g/t gold and 208.2 g/t silver
Hole TU-11-17:
104.47 meters @ 0.79 g/t gold and 77.7 g/t silver
including 8.27 meters @ 2.68 g/t gold and 416.9 g/t silver
Below is a plan map and table of significant intervals and
complete assay tables, sections have been posted to the Company's
website (www.almadenminerals.com).
J.D. Poliquin, Chairman of Almaden commented, "Drilling to date
on the Ixtaca zone shows good continuity of mineralisation in both
horizontal and vertical dimensions. We are very pleased with these
results which further expand the known strike and vertical extent
of the Ixtaca zone of veining. We now have three drills on site two
of which will remain drilling the Ixtaca zone. The third drill will
be used to test several additional targets located outside of the
Ixtaca zone and thought to have the potential to host separate
zones of veining."
The Company now has three diamond drills onsite. Assays are
pending for three further holes, TU-11-18 through 20. The collars
of TU-11-18 and 20 are located 50 meters further along strike from
holes TU-11-15 and 17 reported today and were drilled at -50 and
-60 degrees respectively. Hole TU-11-19 was drilled on the same
section as TU-11-11,13 and 16 to further test the up-dip potential
of the zone above hole TU-11-16.
About the Ixtaca Property
The Ixtaca zone is a blind discovery made by the Company in
2010. The zone of veining is thought to have a north-easterly
trend. Holes to date suggest that the zone is sub vertical with
local variations. This interpretation suggests that true widths are
approximately 60% of intersected widths. The drilling completed to
date has traced mineralisation over more than 300 meters along this
northeast trend. Based upon observations at surface and of core as
drilling progresses, there seems to be a variety of veinlet
orientations within the vein zone.
------------------------------------------------------------------------
------------------------------------------------------------------------
Interval AuEq AgEq
Hole From (m) To (m) (m) Au (g/t) Ag (g/t) (g/t) (g/t)
------------------------------------------------------------------------
------------------------------------------------------------------------
TU-11-15 138.30 276.00 137.70 0.82 28.4 1.4 69
------------------------------------------------------------------------
and 138.30 150.59 12.29 6.16 40.4 7.0 348
------------------------------------------------------------------------
and 139.70 142.00 2.30 31.46 69.4 32.8 1642
------------------------------------------------------------------------
and 197.87 200.46 2.59 1.68 148.0 4.6 232
------------------------------------------------------------------------
and 253.66 259.86 6.20 1.29 122.5 3.7 187
------------------------------------------------------------------------
and 258.68 259.86 1.18 3.49 237.5 8.2 412
------------------------------------------------------------------------
------------------------------------------------------------------------
TU-11-16 208.00 409.35 201.35 0.99 86.2 2.7 136
------------------------------------------------------------------------
includes 208.00 237.19 29.19 0.67 105.7 2.8 139
------------------------------------------------------------------------
and 235.30 237.19 1.89 3.68 776.1 19.2 960
------------------------------------------------------------------------
and 256.48 286.60 30.12 1.62 187.9 5.4 269
------------------------------------------------------------------------
and 269.28 273.68 4.40 4.33 577.3 15.9 794
------------------------------------------------------------------------
and 270.68 272.68 2.00 6.78 1038.5 27.5 1377
------------------------------------------------------------------------
and 281.79 282.84 1.05 18.15 2250.0 63.2 3158
------------------------------------------------------------------------
and 317.20 351.48 34.28 1.73 95.2 3.6 182
------------------------------------------------------------------------
and 326.32 329.34 3.02 6.13 601.9 18.2 909
------------------------------------------------------------------------
and 338.91 349.10 10.19 2.85 72.4 4.3 215
------------------------------------------------------------------------
and 365.90 409.35 43.45 1.62 118.9 4.0 200
------------------------------------------------------------------------
and 374.22 378.75 4.53 4.19 280.3 9.8 490
------------------------------------------------------------------------
and 374.22 376.83 2.61 5.74 336.9 12.5 624
------------------------------------------------------------------------
and 386.70 387.70 1.00 6.88 524.0 17.4 868
------------------------------------------------------------------------
and 395.63 409.35 13.72 1.74 138.7 4.5 226
------------------------------------------------------------------------
and 395.63 402.99 7.36 2.46 208.2 6.6 331
------------------------------------------------------------------------
TU-11-16 439.00 443.00 4.00 1.11 13.0 1.4 69
------------------------------------------------------------------------
------------------------------------------------------------------------
TU-11-17 128.00 329.00 201.00 0.55 45.7 1.5 73
------------------------------------------------------------------------
includes 149.33 253.80 104.47 0.79 77.7 2.3 117
------------------------------------------------------------------------
and 183.38 191.14 7.76 1.46 123.3 3.9 196
------------------------------------------------------------------------
and 226.28 247.00 20.72 1.87 228.2 6.4 322
------------------------------------------------------------------------
and 238.73 253.80 15.07 1.79 260.8 7.0 350
------------------------------------------------------------------------
and 238.73 247.00 8.27 2.68 416.9 11.0 551
------------------------------------------------------------------------
and 296.75 305.00 8.25 0.88 9.1 1.1 53
------------------------------------------------------------------------
------------------------------------------------------------------------
Registered geologist Jim Lunbeck, a qualified person "QP" under
the meaning of NI 43-101 is the QP and project manager of Almaden's
2011 Ixtaca program, reviewed the technical information in this
news release. The analyses reported were carried out at ALS Chemex
Laboratories of North Vancouver using industry standard analytical
techniques. For gold, samples are first analysed by fire assay and
atomic absorption spectroscopy ("AAS"). Samples that return values
greater than 10 g/t gold using this technique are then re analysed
by fire assay but with a gravimetric finish. Silver is first
analysed by Inductively Coupled Plasma - Atomic Emission
Spectroscopy ("ICP-AES"). Samples that return values greater than
100 g/t silver by ICP-AES are then re analysed by HF-HNO3-HCLO4
digestion with HCL leach and ICP-AES finish. Of these samples those
that return silver values greater than 1,500 g/t are further
analysed by fire assay with a gravimetric finish. 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. The ratio of 50 to 1 was used for the purposes of
consistency with past news releases. Intervals that returned assays
below detection were assigned zero values. Metallurgical recoveries
and net smelter returns are assumed to be 100% for these
calculations.
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.
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 40-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 statement.
To view the maps associated with this press release, please
click on the following link:
http://media3.marketwire.com/docs/a321m.pdf
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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