Drilling Intersects 0.96 g/t Gold Over 50.00 Meters at Almaden's Caballo Blanco Project, Mexico
28 Giugno 2011 - 3:00PM
Marketwired
Almaden Minerals Ltd. (TSX: AMM)(NYSE Amex: AAU) ("Almaden" or "the
Company") is pleased to report to its shareholders the results
contained in a news release of Goldgroup Mining Inc. (TSX: GGA)
("Goldgroup") (see Goldgroup news release of June 28, 2011) in
which Goldgroup announced that additional diamond drill holes at
the Company's Caballo Blanco gold project in Veracruz, Mexico have
yielded significant gold intercepts, extending the La Paila oxide
gold zone to the southeast and southwest. Goldgroup reports that
drilling remains ongoing to define and to expand the eastern,
southern and southwestern flanks of the La Paila gold zone as the
zone currently remains open in these directions.
Highlights from the Goldgroup News Release include:
Drillhole DDH 11 CBN 104: 50.00 m @ 0.96 g/t Au
Drillhole DDH 11 CBN 101: 65.96 m @ 0.85 g/t Au
Drillhole DDH 11 CBN 91: 74.35 m @ 0.60 g/t Au
Goldgroup has an option to acquire a 70% interest in the Caballo
Blanco project after which Almaden's 30% interest in the project is
carried until a bankable feasibility study has been completed by
Goldgroup. Recently Goldgroup has provided reports to Almaden
describing exploration expenditures sufficient to meet the
requirement for the exercise of Goldgroup's option. Almaden is
currently reviewing these documents. J.D. Poliquin, chairman of
Almaden, commented, "We are very pleased to receive these new
results from Goldgroup's on-going drill program at Caballo Blanco.
The Caballo Blanco and nearby El Cobre projects are both
underexplored and highly prospective projects in our portfolio. We
are excited with Goldgroup's plans for Caballo Blanco and look
forward to reporting results as they are received."
Goldgroup's June 28th release also included a map showing the
location of the above drillholes and a table of coordinates and
survey information.
Assaying and Qualified Person
Almaden has not reviewed the technical information and new data
reported today which was taken from the June 28th, 2011 news
release of Goldgroup. Goldgroup reports that its Caballo Blanco
drill program is being conducted under the direct supervision Kevin
Sullivan, B.Sc., MAusIMM, the Company's Vice President Exploration
and a qualified person, as defined by NI 43-101, and that Mr.
Sullivan reviewed the technical information contained in the
Goldgroup news release. Goldgroup also disclosed it assaying and
quality control and quality assurance procedures in its news
release as follows:
After project geologists logged and marked the core, technicians
cut the individual lengths with a diamond saw, then tagged the bags
and secured them with security clips. The samples were then
collected by Inspectorate America Corp. ("Inspectorate") and
transported to their preparation facility at Durango, Mexico where
they were dried and crushed to -150 mesh. The rejects remained with
Inspectorate while the pulps were air couriered to Inspectorate's
Richmond, BC, Canada facility and analyzed for gold by fire assay
with Atomic Absorption ("AA") finish. In addition, a 30 element
Inductively Coupled Plasma ("ICP") analysis (aqua regia digest) was
conducted on all samples. A QA/QC program was implemented as part
of the sampling procedure for the drill program. One standard, one
blank or one duplicate was inserted per group of 15 samples sent
the laboratory.
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Hole # From (m) To (m) Interval (m) Au grade (g/t)
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11 CBN 87 95.44 137.10 41.66 0.45
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11 CBN 90 86.30 134.30 48.00 0.77
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11 CBN 91 38.15 112.50 74.35 0.60
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11 CBN 94 78.40 92.40 14.00 0.40
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and 106.40 192.40 86.00 0.40
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11 CBN 95 81.15 101.15 20.00 0.83
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and 111.15 163.35 52.20 0.31
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and 175.35 185.35 10.00 0.29
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11 CBN 96 88.58 122.80 34.22 0.50
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and 290.80 301.50 10.70 0.38
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11 CBN 97 84.30 182.30 98.00 0.31
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and 232.80 252.30 19.50 0.28
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11 CBN 98 38.10 88.39 50.29 0.47
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and 98.39 175.28 76.89 0.37
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11 CBN 99 65.85 81.30 15.45 0.28
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11 CBN 100 97.50 109.55 12.05 0.34
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and 143.55 157.55 14.00 0.70
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and 233.55 281.55 48.00 0.51
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11 CBN 101 43.78 109.74 65.96 0.85
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and 139.74 189.95 50.21 0.41
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11 CBN 104 98.85 148.85 50.00 0.96
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Table 1: Goldgroup Drill Results of La Paila Zone, taken from Goldgroup
News Release of June 28th, 2011.
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,
Matehuapil, Merit and Yago), 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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