Almaden Steps Out 115 m to NW on Ixtaca Zone, Cuts 6.6 m of 1.12 g/t Au and 435.9 g/t Ag
17 Agosto 2011 - 3:00PM
Marketwired
Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX: AMM)(NYSE
Amex: AAU) is pleased to announce results from further drilling at
the Ixtaca Zone with holes TU-11-41, TU-11-42 and CA-11-03 from the
Caleva Zone to the north. Hole TU-11-41 represents a stepout of 115
meters to the northwest from the last hole drilled in this
direction (previously announced TU-11-32; see Almaden news release
of July 7th, 2011). In the the Caleva zone, hole CA-11-03
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-11-41:
132.15 meters @ 0.27 g/t gold and 48.3 g/t silver (1.2 g/t gold equivalent)
Including: 41.10 meters @ 0.33 g/t gold and 117.90 g/t silver (2.7 g/t
gold equivalent)
and 15.20 meters @ 0.63 g/t gold and 240.5 g/t silver (5.4 g/t
gold equivalent)
and 6.60 meters @ 1.12 g/t gold and 435.9 g/t silver (9.8 g/t gold
equivalent)
Hole CA-11-02:
36.80 meters @ 0.19 g/t gold and 29.4 g/t silver (0.8 g/t gold equivalent)
Hole TU-11-42, a 200 meter stepout drilled to the southwest did
not intersect significant mineralisation and is interpreted to have
been drilled off the trend of mineralisation.
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 the plan map and relevant sections, please visit the
following link: http://media3.marketwire.com/docs/amm817i.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 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,
----------------------------------------------------------------------------
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From To Interval Au Ag AuEq AgEq
Hole # (m) (m) (m) (g/t) (g/t) (g/t) (g/t)
----------------------------------------------------------------------------
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TU-11-41 59.05 232.40 173.35 0.24 38.4 1.0 50
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Including 72.90 205.05 132.15 0.27 48.3 1.2 62
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And 91.30 132.40 41.10 0.33 117.9 2.7 135
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And 105.42 132.40 26.98 0.41 163.1 3.7 183
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And 117.20 132.40 15.20 0.63 240.5 5.4 272
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And 117.20 123.80 6.60 1.12 435.9 9.8 492
----------------------------------------------------------------------------
----------------------------------------------------------------------------
CA-11-003 85.30 154.50 69.20 0.15 22.1 0.6 30
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Including 92.90 129.70 36.80 0.19 29.4 0.8 39
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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, Ph.D.,
P.Eng. President, CEO and Director 604-689-7644 604-689-7645 (FAX)
www.almadenminerals.com
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