Almaden Hits 21.95 m of 2.75 g/t Au and 210.1 g/t Ag (7.0 g/t AuEq) on Main Ixtaca Zone
22 Novembre 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
program on the Company's 100% owned Tuligtic project, Mexico with
holes TU-11-59, 63, 64, 66 and 67, all drilled into the main Ixtaca
Zone. The Company currently has four drills operating on the
project.
Highlights from the current group of assays include the
following intercepts:
Hole TU-11-59 ASH ABOVE MAIN IXTACA ZONE:
25.80 meters @ 0.39 g/t gold and 12.2 g/t silver (0.6 g/t gold
equivalent)
Hole TU-11-63 MAIN IXTACA ZONE:
99.20 meters @ 0.54 g/t gold and 24.5 g/t silver (1.0 g/t gold
equivalent)
Including 4.00 meters @ 4.06 g/t gold and 77.9 g/t silver (5.6
g/t gold equivalent)
Hole TU-11-64 MAIN IXTACA ZONE:
100.32 meters @ 0.52 g/t gold and 36.2 g/t silver (1.2 g/t gold
equivalent)
Including 38.93 meters @ 0.91 g/t gold and 49.0 g/t silver (1.9
g/t gold equivalent)
Hole TU-11-66 ASH ABOVE MAIN IXTACA ZONE:
44.80 meters @ 0.51 g/t gold and 8.8 g/t silver (0.7 g/t gold
equivalent)
Including 5.96 meters @ 1.26 g/t gold and 10.4 g/t silver (1.5
g/t gold equivalent)
Hole TU-11-67 MAIN IXTACA ZONE:
120.70 meters @ 1.02 g/t gold and 72.6 g/t silver (2.5 g/t gold
equivalent)
Including 41.40 meters @ 1.91 g/t gold and 144.1 g/t silver (4.8
g/t gold equivalent)
and 21.95 meters @ 2.75 g/t gold and 210.1 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 with sections that carry high gold and silver grades.
Including the veining of the newly discovered Ixtaca North zone,
the Ixtaca vein system is wider than previously known. Overall,
drilling to date on the Ixtaca zone shows good continuity of
mineralisation in both horizontal and vertical dimensions. We are
very pleased with these new results which continue to confirm and
expand the Ixtaca zone."
The Company anticipates drilling operations will continue
throughout 2011 and into 2012. 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 complete tables of
assays click on: http://media3.marketwire.com/docs/amm1122.pdf
About the Ixtaca Property
The 100% owned Ixtaca zone is a blind discovery made by the
Company in 2010. The main Ixtaca 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 1000
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.
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From To Interval Au Ag AuEq AgEq
Hole # (m) (m) (m) (g/t) (g/t) (g/t) (g/t)
---------------------------------------------------------------------------
TU-11-59 145.00 189.80 44.80 0.29 9.9 0.5 24
---------------------------------------------------------------------------
including 154.00 179.80 25.80 0.39 12.2 0.6 31
---------------------------------------------------------------------------
TU-11-59 277.08 277.88 0.80 0.99 112.2 3.2 162
---------------------------------------------------------------------------
TU-11-59 345.50 346.25 0.75 1.25 130.5 3.9 193
---------------------------------------------------------------------------
TU-11-59 356.50 367.95 11.45 0.33 8.1 0.5 24
---------------------------------------------------------------------------
TU-11-59 488.92 490.55 1.63 1.50 30.9 2.1 106
---------------------------------------------------------------------------
TU-11-59 522.40 534.22 11.82 0.22 3.8 0.3 15
---------------------------------------------------------------------------
TU-11-59 611.95 614.33 2.38 0.38 26.8 0.9 46
---------------------------------------------------------------------------
including 617.97 624.82 6.85 0.44 33.8 1.1 56
---------------------------------------------------------------------------
and 618.17 620.33 2.16 0.76 60.9 2.0 99
---------------------------------------------------------------------------
TU-11-63 37.00 43.45 6.45 0.26 10.9 0.5 24
---------------------------------------------------------------------------
TU-11-63 64.80 164.00 99.20 0.54 24.5 1.0 51
---------------------------------------------------------------------------
including 73.40 107.75 34.35 0.76 21.7 1.2 60
---------------------------------------------------------------------------
and 99.97 103.97 4.00 4.06 77.9 5.6 281
---------------------------------------------------------------------------
and 125.10 154.40 29.30 0.83 51.6 1.9 93
---------------------------------------------------------------------------
and 124.00 126.25 2.25 6.10 381.7 13.7 687
---------------------------------------------------------------------------
and 141.90 144.10 2.20 2.68 153.0 5.7 287
---------------------------------------------------------------------------
TU-11-64 3.30 103.62 100.32 0.52 36.2 1.2 62
---------------------------------------------------------------------------
including 3.30 69.50 66.20 0.67 39.1 1.5 73
---------------------------------------------------------------------------
and 23.00 61.93 38.93 0.91 49.0 1.9 95
---------------------------------------------------------------------------
and 81.05 83.13 2.08 1.97 357.6 9.1 456
---------------------------------------------------------------------------
TU-11-66 145.00 189.80 44.80 0.51 8.8 0.7 34
---------------------------------------------------------------------------
including 176.12 182.08 5.96 1.26 10.4 1.5 73
---------------------------------------------------------------------------
TU-11-67 24.30 145.00 120.70 1.02 72.6 2.5 124
---------------------------------------------------------------------------
including 36.50 136.80 100.30 1.20 85.0 2.9 145
---------------------------------------------------------------------------
and 54.90 96.30 41.40 1.91 144.1 4.8 239
---------------------------------------------------------------------------
and 63.55 85.50 21.95 2.75 210.1 7.0 348
---------------------------------------------------------------------------
and 65.60 80.85 15.25 3.26 253.4 8.3 416
---------------------------------------------------------------------------
and 107.20 116.95 9.75 2.54 112.6 4.8 239
---------------------------------------------------------------------------
and 125.55 127.43 1.88 2.51 242.2 7.3 367
---------------------------------------------------------------------------
Mr. Norm Dircks, P.Geo., a qualified person ("QP") under the
meaning of NI 43-101, is the QP and project manager of Almaden's
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 (cash, gold inventory and equity
investments totalling approximately $45MM as of Oct 31, 2011)
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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