Almaden Step Out Drilling Extends Ixtaca Zone 80 M to Southwest and 140 M to Northeast
07 Luglio 2011 - 3:00PM
Marketwired
Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX: AMM)(NYSE
Amex: AAU) is pleased to announce results from step out drilling to
the northeast and southwest along the Ixtaca Zone with holes
TU-11-30, TU-11-32 and TU-11-33. Final assays are pending from
holes TU-11-27, TU-11-29 and TU-11-31.
TU-11-30 and 33 are on the same section, located roughly 80
meters to the southwest from the previous south- western most holes
reported. Hole TU-11-33 was stopped prematurely owing to poor
drilling conditions.
Hole TU-11-32 is located roughly 140 meters to the northeast
beyond the last drilling reported in this direction. It encountered
the Ixtaca Zone from the base of the overburden and is considered
to have only cut a portion of the zone. All three holes (TU-11-30,
TU-11-33 and TU-11-32) hit significant mineralization similar to
that associated with the Ixtaca Zone.
The Company is also pleased to report results from hole
TU-11-34, an infill hole drilled on the same section as the
previously reported TU-10-14 and designed to test the up dip
potential of the Ixtaca zone. The results of TU- 11-34 clearly show
the vertical continuity of the zone. Highlights from the current
group of assays include the following intercepts:
Hole TU-11-30:
152.00 meters @ 0.91 g/t gold and 13.5 g/t silver (1.2 g/t gold
equivalent)
including 8.00 meters @ 9.38 g/t gold and 2.6 g/t silver (9.4 g/t
gold equivalent)
and 1.00 meters @ 66.80 g/t gold and 16.5 g/t silver (67.1 g/t
gold equivalent)
Hole TU-11-33:
323.25 meters @ 0.44 g/t gold and 14.5 g/t silver (0.70 g/t gold
equivalent)
including 15.85 meters @ 1.23 g/t gold and 99.9 g/t silver (3.2 g/t
gold equivalent)
Hole TU-11-32:
101.00 meters @ 0.34 g/t gold and 21.9 g/t silver (0.8 g/t gold
equivalent)
Including 30.90 meters @ 0.87 g/t gold and 47.2 g/t silver (1.8 g/t
gold equivalent)
and 2.50 meters @ 5.22 g/t gold and 132.0 g/t silver (7.9 g/t
gold equivalent)
Hole TU-11-34:
248.00 meters @ 0.67 g/t gold and 46.1 g/t silver (1.6 g/t gold
equivalent)
Including 159.00 meters @ 0.89 g/t gold and 65.9 g/t silver (2.2 g/t
gold equivalent)
and 23.72 meters @ 3.08 g/t gold and 194.8 g/t silver (7.0 g/t
gold equivalent)
and 1.71 meters @ 19.61 g/t gold and 987.4 g/t silver (39.4 g/t
gold equivalent)
J.D. Poliquin, Chairman of Almaden commented, "These new holes
show the Ixtaca zone to be continuing to the northwest and
southwest with currently undefined limits. The Ixtaca zone is a
robust system of veining that continues along strike with minor
offsets. Drilling to date on the Ixtaca zone also 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.
Please click on the following link to view a plan map and
relevant sections: http://media3.marketwire.com/docs/amm707i.pdf. A
table of significant intervals is below. They will be posted to the
Company's website (www.almadenminerals.com) along with complete
tables of assays.
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From To Interval Au Ag AuEq AgEq
Hole # (m) (m) (m) (g/t) (g/t) (g/t) (g/t)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
TU-11-30 60.00 212.00 152.00 0.91 13.6 1.2 59
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including 60.00 68.00 8.00 9.38 3.4 9.4 472
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and 64.00 65.00 1.00 66.80 18.4 67.2 3358
---------------------------------------------------------------------------
and 79.00 212.00 133.00 0.47 15.3 0.8 39
---------------------------------------------------------------------------
and 136.00 189.44 53.44 0.82 22.9 1.3 64
---------------------------------------------------------------------------
and 166.00 180.08 14.08 1.14 48.2 2.1 105
---------------------------------------------------------------------------
and 170.00 173.00 3.00 3.31 116.9 5.6 282
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TU-11-32 53.00 154.00 101.00 0.34 21.9 0.8 39
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including 57.60 88.50 30.90 0.87 47.2 1.8 91
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and 86.00 88.50 2.50 5.22 132.0 7.9 393
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TU-11-33 26.75 350.00 323.25 0.44 14.5 0.7 36
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including 26.75 105.50 78.75 0.53 9.8 0.7 36
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and 120.65 144.30 23.65 0.46 7.5 0.6 30
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and 169.23 203.50 34.27 0.39 12.1 0.6 32
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and 228.60 314.00 85.40 0.57 17.6 0.9 46
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and 328.80 344.65 15.85 1.23 99.9 3.2 161
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and 402.00 404.85 2.85 1.34 7.4 1.5 74
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TU-11-34 26.00 274.80 248.80 0.67 46.1 1.6 80
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Including 26.00 185.45 159.45 0.89 65.9 2.2 110
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and 74.43 86.33 11.90 1.60 100.5 3.6 181
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and 85.15 86.33 1.18 10.01 469.9 19.4 970
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and 125.35 149.07 23.72 3.08 194.8 7.0 349
---------------------------------------------------------------------------
and 146.79 148.50 1.71 19.61 987.4 39.4 1968
---------------------------------------------------------------------------
and 197.51 198.50 0.99 15.15 3.6 15.2 761
---------------------------------------------------------------------------
and 272.15 273.30 1.15 2.06 455.1 11.2 558
---------------------------------------------------------------------------
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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,
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
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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