Titan 24 Deep Earth Imaging Identifies Large Target at Almaden's Willow Copper-Gold Project, Nevada
16 Giugno 2011 - 12:02AM
Marketwired
Almaden Minerals Ltd. (TSX: AMM)(NYSE Amex: AAU) ("Almaden" or "the
Company") announces that it has received preliminary results from a
recently completed Titan 24 deep penetration geophysical survey on
its 100% owned Willow project, situated near Yerrington Nevada. The
Titan survey results have outlined several large areas of high
chargeability, both near to surface and at depth (see attached
figures). The chargeability anomalies provide several large target
areas for follow-up drill testing.
The Willow project covers an area of hydrothermal alteration
interpreted to represent the lithocap to a large preserved porphyry
copper-gold system. Geologic and alteration mapping has outlined a
roughly 2 by 2 kilometer area of intense hydrothermal alteration
characterized by silicification, brecciation and alunite, kaolinite
and dickite alteration, all features typical of a high sulphidation
system overlying a porphyry intrusion at depth. Supporting fluid
inclusion analysis confirms the presence of a porphyry system. Soil
stream sediment and rock samples have returned anomalous values of
copper, gold, molybdenum, silver and trace elements typical of this
geologic environment.
The Titan 24 Deep Earth Imaging system is the most advanced
electrical earth imaging technology available. Measuring parameters
of DC (resistivity), IP (chargeability) and MT (magnetotelluric
resistivity), the Titan 24 measures to depths of 750 meters with IP
and to depths of more than 1.5 kilometers with MT data. These
depths and multi-parameter data make the system one of the best
options available for obtaining subsurface information related to
geologic structure and for the direct detection of mineral
deposits.
"The results of the Titan deep earth imaging confirm the deep
copper-gold porphyry potential of the Willow project. Almaden
awaits final interpretation from Quantec prior to planning a
diamond drilling program to test these exciting new targets. Drill
permits have already been received," stated Chairman, J. Duane
Poliquin.
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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