Almaden Surface Work and CSAMT Survey Identifies New Targets at Tuligtic
29 Giugno 2011 - 3:00PM
Marketwired
Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX: AMM)(NYSE
Amex: AAU) is pleased to announce the completion of a
Controlled-Source Audio-Frequency Magneto-Telluric "CSAMT"
geophysical survey and results of additional soil sampling on the
Company's 100% owned Tuligtic project where the Ixtaca Zone is
located. In June the Company surveyed four lines of CSAMT, two of
which passed directly over the known Ixtaca zone (see attached map;
sections will be posted to Almaden's website in due course). While
the results received are preliminary, the survey clearly identified
the Ixtaca zone as having a near vertical high conductivity
response. The survey also shows this anomaly extending to much
greater depths than which have currently been tested by drilling.
The survey also identified multiple other very similar anomalies in
other areas of the property, including the Caleva and Casa Azul
zones already defined by the presence of epithermal alteration and
elevated gold and silver in rock and soil. Almaden's management is
extremely encouraged by these new results and plans additional
CSAMT surveying to cover the other prospective areas on the
Tuligtic property. The Company is making preparations to drill test
these new CSAMT targets in the coming months. In the meantime
drilling is on-going with two drills currently on the Ixtaca zone
and one on the Caleva zone.
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 the other areas, which are described in
the Company's news release of April 6th, 2011, could represent
additional zones of underlying quartz-carbonate epithermal veining
like the Ixtaca zone. The new sampling better defined the area of
elevated gold and silver in soil at the Ixtaca East zone which is
located over 2 kilometres away, directly along strike from the
Ixtaca zone soil anomaly. The Ixtaca East zone soil anomaly has a
trend similar to that of the Ixtaca zone and is interpreted to
represent the extension of veining of the Ixtaca zone in that
direction.
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 CSAMT survey clearly identified
the Ixtaca zone and identified several additional features that
responded in a similar way. The results not only show the potential
for the Ixtaca zone of veining to be considerably larger than
presently known, but provide discrete targets for drilling on the
other zones of potential already identified. We are looking forward
to testing these new targets with drilling in the upcoming months
while drilling is ongoing at the Ixtaca Zone."
About the Ixtaca Zone
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 500 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.
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.
To view the maps associate with this Press Release, please visit
the following links:
http://file.marketwire.com/release/AMM-maps-0629a.pdf
http://file.marketwire.com/release/AMM-maps-0629b.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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