Further Almaden Step-Out Drilling Expands Ixtaca Gold-Silver Zone and Intersects More High-Grade Intervals
26 Maggio 2011 - 3:00PM
Marketwired
Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX: AMM)(NYSE
Amex: AAU) is pleased to announce results from holes TU-11-21
through 26 and TU-11-28 drilled on the Ixtaca zone and hole
CA-11-01 the first hole drilled on the Caleva Zone which is located
about 250 meters north from the Ixtaca zone, of its 100% owned
Tuligtic property. These results extend the Ixtaca Zone
mineralisation to roughly 550 meters along strike from the farthest
southwest holes announced (holes TU-10-7,8 and TU-11-23) through
the farthest northeast holes announced (hole TU-11-25). To the
northeast shaley rock units were encountered which are a poor host
rock for veins and in which the Ixtaca vein zone narrows. Holes
TU-11-25 through TU-11-27 encountered these shaley units from
surface. While narrower in the shaley units, the Ixtaca zone
persists and exploration is now focussed on tracing the Ixtaca Zone
to the northeast beyond hole TU-11-25 as well as to the southwest.
The first hole designed to test the Caleva zone, CA-11-01, was
drilled to the north (at 330 azimuth) but had to be stopped
prematurely due to poor drilling conditions. Nevertheless this hole
ended in a section of altered and veined dykes that look similar to
those hosting mineralisation in the Ixtaca zone. This intersection
confirms the presence of mineralisation outside of the Ixtaca zone
as significant silver values were returned. This hole is thought to
have been on the margin of a new mineralised zone to be tested with
further drilling to the north. Highlights from the current group of
assays include the following intercepts:
Hole TU-11-21:
133.34 meters @ 0.71 g/t gold and 48.9 g/t silver (1.7 g/t gold
equivalent)
including 69.19 meters @ 1.17 g/t gold and 79.9 g/t silver (2.8 g/t
gold equivalent)
and 1.05 meters @ 8.36 g/t gold and 734.8 g/t silver (23.1 g/t
gold equivalent)
and 1.28 meters @ 6.08 g/t gold and 593.9 g/t silver (18.0 g/t
gold equivalent)
Hole TU-11-22:
81.55 meters @ 0.29 g/t gold and 24.2 g/t silver (0.80 g/t gold
equivalent)
including 40.55 meters @ 0.46 g/t gold and 38.9 g/t silver (1.2 g/t
gold equivalent)
and 1.82 meters @ 3.08 g/t gold and 305.6 g/t silver (9.2 g/t
gold equivalent)
Hole TU-11-24:
18.81 meters @ 0.49 g/t gold and 31.7 g/t silver (1.1 g/t gold equivalent)
Hole TU-11-25:
64.00 meters @ 0.34 g/t gold and 14.6 g/t silver (0.60 g/t gold
equivalent)
including 10.60 meters @ 0.54 g/t gold and 49.4 g/t silver (1.5 g/t
gold equivalent)
Hole TU-11-26:
1.12 meters @ 1.72 g/t gold and 438.3 g/t silver (10.5 g/t gold
equivalent)
19.45 meters @ 0.31 g/t gold and 95.9 g/t silver (2.2 g/t gold equivalent)
20.70 meters @ 1.07 g/t gold and 41.8 g/t silver (1.9 g/t gold equivalent)
Hole CA-11-01:
20.10 meters @ 0.23 g/t gold and 3.6 g/t silver (0.3 g/t gold equivalent)
14.00 meters @ 0.30 g/t gold and 7.1 g/t silver (0.4 g/t gold equivalent)
0.95 meters @ 0.03 g/t gold and 98.3 g/t silver (2.0 g/t gold equivalent)
15.20 meters @ 0.02 g/t gold and 35.9 g/t silver (0.7 g/t gold equivalent)
including 0.70 meters @ 0.04 g/t gold and 242.3 g/t silver (4.9 g/t
gold equivalent)
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Interval Gold Silver Gold Eq Silver Eq
Hole # From (m) To (m) (m) (g/t) (g/t) (g/t) (g/t)
----------------------------------------------------------------------------
TU-11-21 133.71 271.05 137.34 0.71 48.9 1.7 84
----------------------------------------------------------------------------
including 136.28 205.47 69.19 1.17 79.9 2.8 138
----------------------------------------------------------------------------
and 150.11 205.47 55.36 1.38 94.9 3.3 164
----------------------------------------------------------------------------
and 161.27 162.73 1.46 4.25 287.3 10.0 500
----------------------------------------------------------------------------
and 168.67 169.72 1.05 8.36 734.8 23.1 1153
----------------------------------------------------------------------------
and 177.84 183.08 5.24 1.93 231.6 6.6 328
----------------------------------------------------------------------------
and 177.84 179.90 2.06 3.32 446.5 12.2 612
----------------------------------------------------------------------------
and 191.73 193.65 1.92 0.94 193.4 4.8 241
----------------------------------------------------------------------------
and 196.45 197.73 1.28 6.08 593.9 18.0 898
----------------------------------------------------------------------------
and 203.96 205.47 1.51 2.63 111.9 4.9 243
----------------------------------------------------------------------------
and 257.44 270.71 13.27 0.45 29.0 1.0 52
----------------------------------------------------------------------------
TU-11-22 112.90 114.01 1.11 1.37 245.6 6.3 314
----------------------------------------------------------------------------
including 155.84 237.39 81.55 0.29 24.2 0.8 39
----------------------------------------------------------------------------
and 155.84 196.39 40.55 0.46 38.9 1.2 62
----------------------------------------------------------------------------
and 171.68 172.90 1.22 4.47 30.3 5.1 254
----------------------------------------------------------------------------
and 180.81 184.60 3.79 2.04 176.3 5.6 278
----------------------------------------------------------------------------
and 180.81 182.63 1.82 3.08 305.6 9.2 460
----------------------------------------------------------------------------
and 207.16 208.51 1.35 1.55 89.2 3.3 167
----------------------------------------------------------------------------
and 230.22 237.39 7.17 0.35 28.2 0.9 46
----------------------------------------------------------------------------
TU-11-22 293.25 308.07 14.82 0.79 55.7 1.9 95
----------------------------------------------------------------------------
including 293.25 295.25 2.00 1.30 305.5 7.4 371
----------------------------------------------------------------------------
TU-11-23 82.00 83.80 1.80 0.69 53.2 1.7 87
----------------------------------------------------------------------------
TU-11-23 108.87 134.00 25.13 0.29 15.8 0.6 30
----------------------------------------------------------------------------
including 121.85 122.23 0.38 5.53 246.0 10.5 523
----------------------------------------------------------------------------
and 130.25 130.66 0.41 4.61 234.0 9.3 465
----------------------------------------------------------------------------
TU-11-23 175.70 176.90 1.20 0.28 129.2 2.9 143
----------------------------------------------------------------------------
TU-11-24 23.75 42.56 18.81 0.49 31.7 1.1 56
----------------------------------------------------------------------------
TU-11-24 143.70 157.00 13.30 0.26 30.2 0.9 43
----------------------------------------------------------------------------
includes 154.00 155.10 1.10 1.62 194.1 5.5 275
----------------------------------------------------------------------------
TU-11-24 165.00 178.45 13.45 0.36 45.3 1.3 63
----------------------------------------------------------------------------
includes 176.25 178.45 2.20 1.08 123.8 3.6 178
----------------------------------------------------------------------------
TU-11-25 208.00 272.00 64.00 0.34 14.6 0.6 32
----------------------------------------------------------------------------
including 260.00 270.60 10.60 0.54 49.4 1.5 76
----------------------------------------------------------------------------
TU-11-26 48.00 63.00 15.00 0.28 14.6 0.6 29
----------------------------------------------------------------------------
TU-11-26 125.88 127.00 1.12 1.72 438.3 10.5 524
----------------------------------------------------------------------------
TU-11-26 159.05 178.50 19.45 0.31 95.9 2.2 111
----------------------------------------------------------------------------
includes 165.70 173.95 8.25 0.40 164.0 3.7 184
----------------------------------------------------------------------------
TU-11-26 231.67 252.37 20.70 1.07 41.8 1.9 95
----------------------------------------------------------------------------
includes 232.35 236.00 3.65 2.07 109.5 4.3 213
----------------------------------------------------------------------------
and 243.50 245.00 1.50 1.91 140.3 4.7 236
----------------------------------------------------------------------------
CA-11-1 22.00 42.10 20.10 0.23 3.6 0.3 15
----------------------------------------------------------------------------
CA-11-1 58.00 72.00 14.00 0.30 7.1 0.4 22
----------------------------------------------------------------------------
CA-11-1 326.07 326.27 0.20 0.07 580.0 11.7 583
----------------------------------------------------------------------------
CA-11-1 344.45 345.40 0.95 0.03 98.3 2.0 100
----------------------------------------------------------------------------
CA-11-1 354.00 354.20 0.20 0.02 267.0 5.4 268
----------------------------------------------------------------------------
CA-11-1 373.80 389.00 15.20 0.02 35.9 0.7 37
----------------------------------------------------------------------------
including 375.30 376.00 0.70 0.04 242.3 4.9 244
----------------------------------------------------------------------------
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
new 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 are currently 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 anticipates drilling
operations will continue throughout 2011.
Holes TU-11-21 and TU-11-22 were drilled on the same section
located approximately 60 meters along strike to the northeast from
the last reported section (holes TU-18, 20). Hole TU-11-24 was
drilled from the collar of hole TU-11-21, 22 to the north (azimuth
330) to test the Ixtaca zone in this direction. Hole TU-11-26 was
drilled approximately 110 meters along strike to the northeast from
the last reported section and Hole TU-11-25 was drilled
approximately 190 meters along strike to the northeast from the
last reported section. Assays are awaited from hole TU-11-27 which
was drilled on a section located approximately 160 meters to the
northeast from the last reported section. Hole TU-11-23 was drilled
to explore the down dip portion of veining encountered in hole
TU-11-8 at the southwest end of the Ixtaca zone on section 250.
To view a plan map and relevant sections, please visit the
following link: http://media3.marketwire.com/docs/amm526i.pdf.
The plan map, relevant sections and table of significant
intervals will be posted to the Company's website
(www.almadenminerals.com) along with complete tables of assays.
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 550 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. 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 sake of consists 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.
On Behalf of the Board of Directors
Morgan J. Poliquin, Ph.D., P.Eng., President, CEO and Director
Almaden Minerals Ltd.
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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