Almaden Expands Width of Ixtaca Zone, Cuts 25.3 m of 2.26 g/t Au
15 Agosto 2011 - 3:00PM
Marketwired
Almaden Minerals Ltd. (TSX: AMM)(NYSE Amex: AAU) ("Almaden" or "the
Company") is pleased to announce results from drilling within the
currently defined Ixtaca Zone with holes TU-11-37 through TU-11-40
and CA-11-02 from the Caleva Zone to the north. Holes TU-11-39 and
TU-11-40 extend the width of the known Ixtaca Zone to the
northwest. Hole TU-11-38 shows the Ixtaca zone extending towards
surface from where it was previously tested on this section in hole
TU-10-3. At the Caleva zone, hole CA-11-02 intersected
mineralisation at the top of the hole and further drilling is
planned to follow this up.
Highlights from the current group of assays include the
following intercepts:
Hole TU-11-40:
155.00 meters @ 0.60 g/t gold and 3.9 g/t silver (0.7 g/t gold equivalent)
including 35.09 meters @ 1.75 g/t gold and 4.5 g/t silver (1.8 g/t
gold equivalent)
and 25.30 meters @ 2.26 g/t gold and 5.5 g/t silver (2.4 g/t
gold equivalent)
and 1.57 meters @ 18.20 g/t gold and 22.2 g/t silver (18.6 g/t
gold equivalent)
and 2.25 meters @ 3.87 g/t gold and 23.8 g/t silver (4.3 g/t
gold equivalent)
Hole TU-11-39:
154.65 meters @ 0.48 g/t gold and 37.7 g/t silver (1.2 g/t gold
equivalent)
including 33.60 meters @ 0.90 g/t gold and 87.4 g/t silver (2.6 g/t
gold equivalent)
and 1.20 meters @ 7.29 g/t gold and 487.2 g/t silver (17.0 g/t
gold equivalent)
Hole TU-11-38:
90.83 meters @ 0.49 g/t gold and 22.6 g/t silver (0.9 g/t gold equivalent)
including 9.13 meters @ 3.55 g/t gold and 90.3 g/t silver (5.4 g/t
gold equivalent)
Hole TU-11-37:
12.44 meters @ 0.52 g/t gold and 1.8 g/t silver (0.6 g/t gold equivalent)
Hole CA-11-02:
27.00 meters of 0.21 g/t gold and 39.7 g/t silver (1.0 g/t gold
equivalent)
J.D. Poliquin, Chairman of Almaden commented, "These new holes
continue to show that the Ixtaca zone is a robust and wide system
of veining. 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 extent of the Ixtaca zone. We now have
three drills on site." The Company anticipates drilling operations
will continue throughout 2011.
Below is a plan map, relevant sections and table of significant
intervals which will be posted to the Company's website
(www.almadenminerals.com) along with complete tables of assays.
To view plan map please visit the following link:
http://media3.marketwire.com/docs/amm815p.pdf.
To view relevant sections please visit the following link:
http://media3.marketwire.com/docs/amm815d.pdf.
About the Ixtaca Property
The 100% owned 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
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Interval AuEq AgEq
Hole From (m) To (m) (m) Au (g/t) Ag (g/t) (g/t) (g/t)
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TU-11-37 136.22 148.66 12.44 0.52 1.8 0.6 28
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TU-11-38 64.10 225.47 161.37 0.32 18.2 0.7 34
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including 64.10 154.93 90.83 0.49 22.6 0.9 47
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and 64.10 99.20 35.10 1.14 46.0 2.1 103
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and 79.92 89.05 9.13 3.55 90.3 5.4 268
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and 79.92 83.05 3.13 8.33 98.2 10.3 515
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TU-11-39 39.30 154.65 115.35 0.48 37.7 1.2 62
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including 39.30 48.16 8.86 1.31 33.0 2.0 98
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and 111.20 144.80 33.60 0.90 87.4 2.6 132
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and 116.20 135.80 19.60 1.05 101.8 3.1 154
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and 127.64 135.80 8.16 1.84 138.1 4.6 230
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and 132.90 135.80 2.90 4.22 261.3 9.4 472
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and 134.60 135.80 1.20 7.29 487.2 17.0 852
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TU-11-40 42.00 197.00 155.00 0.60 3.9 0.7 34
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including 42.00 135.20 93.20 0.29 4.2 0.4 19
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and 77.04 108.80 31.76 0.43 7.1 0.6 29
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and 77.04 197.00 119.96 0.71 4.7 0.8 40
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and 151.36 186.45 35.09 1.75 4.5 1.8 92
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and 159.50 184.80 25.30 2.26 5.5 2.4 118
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and 171.56 173.13 1.57 18.20 22.2 18.6 932
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and 182.55 184.80 2.25 3.87 23.8 4.3 217
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CA-11-02 100.00 127.00 27.00 0.21 39.7 1.0 50
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and 194.00 199.76 5.76 0.22 14.8 0.5 26
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to date has traced mineralisation over 750 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 consistency
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 their 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 President,
CEO and Director 604-689-7644 604-689-7645 (FAX)
www.almadenminerals.com
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