Almaden Expands Ixtaca Zone to Southwest and Ixtaca North Zone, Intersects 98.58 m of 0.92 g/t Au and 76.3 g/t Ag (2.5 g/t Au...
12 Ottobre 2011 - 10:30PM
Marketwired
Almaden Minerals Ltd. (TSX:AMM)(NYSE Amex:AAU) ("Almaden" or "the
Company") is pleased to announce results from the on-going drilling
at the Ixtaca Zone with holes TU-11-45, 51, 53 to 55, 57, 58 and
60. Holes TU-11-51, 53 to 55, 57, 58 and 60 were drilled 180
degrees away from the known Ixtaca veining (at a 330 azimuth) and
intersected the zone of mineralisation now referred to as Ixtaca
North. The orientation of the Ixtaca North zone remains poorly
understood. Hole TU-11-45 was drilled at the southwest extent of
the known Ixtaca zone and intersected veining in the overlying ash
unit. This intersection shows that the Ixtaca Zone remains open to
the southwest. Final assays remain pending for holes TU-11-56 and
59.
Highlights from the current group of assays include the
following intercepts:
Hole TU-11-45 MAIN IXTACA ZONE SW EXTENSION:
81.30 meters @ 0.78 g/t gold and 4.6 g/t silver (0.9 g/t gold
equivalent)
including: 8.15 meters @ 1.99 g/t gold and 4.2 g/t silver (2.1 g/t
gold equivalent)
Hole TU-11-51 IXTACA NORTH ZONE:
98.58 meters @ 0.92 g/t gold and 76.3 g/t silver (2.5 g/t gold
equivalent)
and: 53.50 meters @ 1.26 g/t gold and 120.2 g/t silver (3.7 g/t gold
equivalent)
Hole TU-11-53 IXTACA NORTH ZONE:
41.96 meters @ 0.64 g/t gold and 49.1 g/t silver (1.6 g/t gold
equivalent)
Hole TU-11-54 IXTACA NORTH ZONE:
11.94 meters @ 0.63 g/t gold and 52.0 g/t silver (1.7 g/t gold
equivalent)
Hole TU-11-55 IXTACA NORTH ZONE:
11.45 meters @ 0.55 g/t gold and 100.4 g/t silver (2.6 g/t gold
equivalent)
Hole TU-11-57 IXTACA NORTH ZONE:
15.85 meters @ 0.52 g/t gold and 38.3 g/t silver (1.3 g/t gold
equivalent)
including: 7.80 meters @ 1.85 g/t gold and 140.6 g/t silver (4.7
g/t gold equivalent)
Hole TU-11-58 ASH ABOVE MAIN IXTACA ZONE:
12.75 meters @ 0.43 g/t gold and 10.6 g/t silver (0.6 g/t gold
equivalent)
Hole TU-11-60 IXTACA NORTH ZONE:
1.48 meters @ 2.56 g/t gold and 223.3 g/t silver (7.0 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. The veining of the Ixtaca North zone indicates that the
overall Ixtaca vein system is wider than previously known. Hole
TU-11-45 shows that the Ixtaca zone remains open to the southwest.
Overall, 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.
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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-11-45 65.00 146.30 81.30 0.78 4.6 0.9 44
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including 65.00 129.00 64.00 0.94 4.7 1.0 52
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and 69.70 118.00 48.30 1.03 4.3 1.1 56
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and 108.85 117.00 8.15 1.99 4.2 2.1 104
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TU-11-51 39.32 137.90 98.58 0.92 76.3 2.5 123
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including 46.19 55.44 9.25 1.54 30.6 2.2 108
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and 80.10 133.60 53.50 1.26 120.1 3.7 183
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and 110.50 112.70 2.20 4.03 215.3 8.3 417
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and 120.93 133.60 12.67 1.62 142.1 4.5 223
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TU-11-53 37.90 41.05 3.15 1.52 244.3 6.4 320
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TU-11-53 66.63 69.40 2.77 0.57 94.2 2.4 122
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TU-11-53 99.65 119.35 19.70 0.44 36.6 1.2 59
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including 101.50 103.65 2.15 2.87 242.6 7.7 386
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TU-11-53 148.54 190.50 41.96 0.64 49.1 1.6 81
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including 169.46 171.50 2.04 2.94 279.4 8.5 427
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and 181.98 185.50 3.52 2.63 237.9 7.4 369
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and 181.98 183.44 1.46 5.75 552.9 16.8 840
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TU-11-54 102.00 130.75 28.75 0.39 25.9 0.9 45
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including 117.70 129.64 11.94 0.63 52.0 1.7 84
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TU-11-54 381.23 381.92 0.69 2.24 140.6 5.1 253
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TU-11-54 431.08 458.00 26.92 0.67 7.5 0.8 41
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including 431.08 434.64 3.56 3.82 28.4 4.4 219
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TU-11-55 56.80 137.50 80.70 0.22 36.8 1.0 48
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including 60.85 72.30 11.45 0.55 100.4 2.6 128
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TU-11-57 95.45 111.30 15.85 0.25 47.2 1.2 60
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including 95.45 96.70 1.25 0.85 280.8 6.5 323
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TU-11-57 169.00 180.71 11.71 0.54 34.2 1.2 61
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TU-11-58 114.00 175.00 61.00 0.21 6.2 0.3 17
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including 152.00 164.75 12.75 0.43 10.6 0.6 32
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TU-11-60 83.00 101.00 18.00 0.42 32.3 1.1 53
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including 98.82 100.30 1.48 2.56 223.3 7.0 351
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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, relevant sections and table of significant
intervals, along with complete tables of assays, please click on
the following link:
http://media3.marketwire.com/docs/amm1012.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 (Utah) Jim Lunbeck, a qualified person
("QP") under the meaning of NI 43-101, was the QP and project
manager of Almaden's Ixtaca program at the time the holes announced
today were drilled 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. 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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