Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX: AMM)(NYSE
Amex: AAU) is pleased to announce surface mapping and sampling
results from the Company's 100% owned Tuligtic project where the
Ixtaca Zone is located. The Company also wishes to update
shareholders on the progress of the current drill program on the
Ixtaca Zone. The Company anticipates drilling will continue on the
Tuligtic project throughout 2011 apart from a break in operations
over Easter (Semana Santa), a significant holiday in Mexico.
J.D. Poliquin, Chairman of Almaden commented, "We are very
pleased with these new surface results which show the potential for
further zones of epithermal gold-silver veining at Tuligtic in
addition to the Ixtaca Zone. The results also show the potential
for the Ixtaca zone of veining to be considerably larger than
presently known. We are excited to test these new targets with
drilling in the upcoming months while drilling continues at the
Ixtaca Zone."
Definition of New Zones
The Tuligtic project is partially covered by volcanic ash
deposits which mask underlying potential vein zones and associated
soil responses. In areas devoid of this covering ash, soil sampling
has defined several areas of elevated gold and silver values, and
trace elements typically associated with epithermal vein systems.
The Ixtaca zone is the largest area of gold/silver soil response
but it is also the area with the least ash cover on the project.
Management believes that these newly defined areas could represent
additional zones of underlying quartz-carbonate epithermal veining
like the Ixtaca zone. Elevated gold and silver in soil at the
Ixtaca East zone, located over 2 kilometres along strike from the
Ixtaca zone soil anomaly, may represent the extension of veining
and the Ixtaca zone in that direction. In total 2,999 soil samples
have now been taken on the Tuligtic and have returned gold values
from below detection to 720 ppb gold (0.72 g/t), averaging 8 ppb
gold and from below detection to 30.6 g/t silver averaging 0.3 g/t
silver. Rock samples of clay altered volcanic and vein float in the
new areas returned highly anomalous values of gold and silver
consistent with these interpretations. Highlights of sampling from
these new areas include:
Caleva Zone: Located adjacent to and up to 600 meters north of
the Ixtaca zone this is an area of intense clay alteration. Several
outcropping veins have been identified. The 23 rock samples taken
in the Caleva Zone ranged from below detection to 0.4 g/t gold and
78 g/t silver. Of the 80 soil samples defining the Caleva anomaly,
gold values ranged from below detection to 310 ppb gold and 14.8
g/t silver.
Azul Zone: Located 2.3 kilometres north of the Ixtaca zone. Of
the 171 soil samples defining the Azul anomaly, gold values ranged
from below detection to 620 ppb Au and 30.6 g/t silver. A single
grab of quartz-carbonate vein float found in the Azul zone returned
2 g/t gold and 37.8 g/t silver.
Sol Zone: located 2.5 kilometres northeast of the Ixtaca zone.
Of the 36 soils defining the Sol soil anomaly, gold values ranged
from below detection to 130 ppb gold and 4.5 g/t silver.
Below are plan maps of these new areas and the Ixtaca Zone which
have also been posted to the Company's website
(www.almadenminerals.com).
Update on Drilling Progress
Drilling continues around the clock with three drill rigs. One
drill has commenced drilling on the Caleva zone while the other two
remain on the Ixtaca zone. Holes TU-11-21 to TU-11-24 and TU-11-26
have been sampled and sent to the laboratory for analysis.
Drillholes TU-11-21 and 22 are located on section 750, located a 50
meter step out to the northeast from the last reported section
(drillholes TU-11-18 and 20; see Almaden's news release of March
31, 2011). These holes encountered veining and alteration typical
of that of the Ixtaca zone where expected. Hole TU-11-24 was
drilled from the same collar as TU-11-21 and 22 but in the opposite
direction (330 azimuth). This hole also intersected epithermal
veins as well as an altered and veined dyke. Holes TU-11-26,
TU-11-27 and TU-11-25, located on sections 800, 850 and 900
respectively, encountered reduced veining overall although the
quartz-veined and altered dykes that also host mineralisation in
the Ixtaca zone were seen where expected in all three of these
holes. Holes TU-11-25 to 27 dominantly cored thinly bedded shaley
sedimentary units that are known from past drilling to not be as
good host rocks for the Ixtaca Zone epithermal veins as limestone
units. Dyke hosted quartz veining appears to be continuing through
the shaley rocks and drilling to the SW and NE of the presently
defined Ixtaca zone is on-going and designed to extend and define
the Ixtaca zone strike potential through, around and beyond the
area of shaley rocks.
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.
Registered professional 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 and 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. Soil samples are analysed
for gold, silver and 50 other trace elements using aqua regia and
Inductively Coupled Plasma - mass spectrometry (ICP-MS). For rock
and drill core samples gold is 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 drill
core and rock 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 to
be consistent 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, 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/amm46.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 statement.
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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