Titan 24 Deep Earth Imaging Underway at Almaden's El Cobre Copper-Gold Project, Mexico
29 Novembre 2011 - 10:30PM
Marketwired
Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX:AMM)(NYSE
Amex:AAU) announces that it has commenced a Titan 24 deep
penetration geophysical survey on its 100% owned El Cobre porphyry
copper-gold project in Veracruz State, Mexico. The survey has been
planned to highlight areas for deep drilling within this extensive
porphyry copper-gold system. The survey is anticipated to augment
existing magnetics and induced polarization (IP) geophysical
anomalies that are coincident with porphyry style gold and copper
mineralisation identified in past drilling and surface mapping.
Almaden intends to use the results of the Titan 24 survey to
plan a diamond drilling program anticipated to commence in early
2012. Past drilling at El Cobre has defined copper-gold porphyry
mineralisation over 4 kilometres of strike length. The survey will
also cover the Villa Rica zone which has never been drilled. It is
located west of past drilling and is the largest coincident
magnetics, IP and soil geochemical feature on the project.
"We look forward to getting the results of the Titan 24 survey
and anticipate using this new data to plan a drilling program at El
Cobre anticipated to commence in 2012. El Cobre is one of the most
important assets in our portfolio and we are excited to be
advancing this project aggressively," stated Chairman, J. Duane
Poliquin.
About The TITAN 24 Deep Earth Imaging System
The Titan 24 Deep Earth Imaging system is the most advanced
electrical earth imaging technology available. Measuring parameters
of DC (resistivity), IP (chargeability) and MT (magnetotelluric
resistivity), the Titan 24 measures to depths of 750 meters with IP
and to depths of more than 1.5 kilometers with MT data. These
depths and multi-parameter data make the system one of the best
options available for obtaining subsurface information related to
geologic structure and for the direct detection of mineral
deposits.
About El Cobre
Almaden 100% owned El Cobre project, situated about 75
kilometers north of the port city of Veracruz, Mexico, is road
accessible and at elevations of 100 to 400 meters above sea level.
It is located in an area of unparalleled infrastructure, near a
power plant and highway. Almaden's roughly 7,500 hectare claim
block covers copper-gold porphyry mineralization known to exist
over a strike length of at least four kilometers (see map:
http://media3.marketwire.com/docs/MapElCobre.jpg). Drilling by
Almaden and past partners along this strike length has returned
significant copper and gold values including those in the table
below. Many of the past drill holes on the El Cobre property are
shallow and end in copper-gold mineralization. Porphyry
mineralization is associated with the exposed portions of diorite
stocks which have intruded intermediate volcanic rocks. Mineralogic
and fluid inclusion studies show conclusively that the gold and
copper-gold porphyry-style mineralization at El Cobre is not deeply
eroded and great potential exists at depth. More importantly these
studies indicate that the mineralization is genetically uniquely
like that of some of the Maricunga district gold-copper porphyry
systems in Chile.
Gold-silver vein mineralisation, typical of intermediate
sulfidation systems, has also been identified within the project
area. Vein float identified over a roughly 500 m by 1,000 m area
may be indicative of a larger vein deposit at depth. Outcrop in the
vein-float area is sparse, however sixty samples of vein float
taken averaged 2.5 g/t gold and 60 g/t silver with values as high
as 25 g/t gold and 267 g/t silver.
Technical Data
Morgan J. Poliquin, P. Eng., the President and CEO of Almaden
and a qualified person under the meaning of National Instrument
43-101 reviewed the technical information in this news release. The
attached table contains analyses from past programs conducted by
Almaden and former joint venture partners. Analyses reported from
past drilling conducted by Almaden were carried out at ALS Chemex
Laboratories of North Vancouver using industry standard aqua regia,
ICP and fire assay techniques. This sampling also included a
quality control program and the insertion of field duplicates,
certified standards and blanks into the sample stream. Analyses
reported from past drilling conducted by past partners cannot be
verified by Almaden but are believed to have been acquired from
exploration programs carried out under the supervision of qualified
persons (under the meaning for qualified person as defined in NI
43-101) and in accordance with NI 43-101 requirements. Gold
equivalent calculations do not take into account metallurgical
recoveries and are based on in ground metal using metal prices of
$1700 per troy ounce gold and $3.25 per pound copper. True widths
cannot be calculated at this time.
---------------------------------------------------------------------------
Interval Au Cu AuEq
Hole # From (m) To (m) (m) (g/t) (%) (g/t) Notes
---------------------------------------------------------------------------
08-CBCN-019 48.77 100.58 51.81 0.12 0.08 0.23
---------------------------------------------------------------------------
and 146.30 187.45 41.15 0.42 0.27 0.77 To end of
Hole
---------------------------------------------------------------------------
08-CBCN-021 6.09 15.24 9.15 0.10 0.16 0.31
---------------------------------------------------------------------------
and 80.77 95.55 14.78 0.10 0.08 0.21
---------------------------------------------------------------------------
08-CBCN-022 44.80 304.19 259.39 0.19 0.14 0.37 To end of
Hole
---------------------------------------------------------------------------
including 140.36 187.60 47.24 0.32 0.21 0.59
---------------------------------------------------------------------------
08-CBCN-023 1.18 208.78 207.60 0.13 0.10 0.26
---------------------------------------------------------------------------
including 51.82 88.39 36.57 0.21 0.15 0.41
---------------------------------------------------------------------------
08-CBCN-024 50.29 89.91 39.62 0.41 0.02 0.44
---------------------------------------------------------------------------
08-CBCN-025 10.66 318.51 307.85 0.23 0.11 0.37 To end of
Hole
---------------------------------------------------------------------------
08-CBCN-026 24.38 219.45 195.07 0.21 0.14 0.39
---------------------------------------------------------------------------
including 115.82 198.12 82.30 0.30 0.18 0.53
---------------------------------------------------------------------------
08-CBCN-027 85.34 187.45 102.11 0.10 0.11 0.24
---------------------------------------------------------------------------
including 91.44 115.82 24.38 0.16 0.18 0.39
---------------------------------------------------------------------------
08-CBCN-028 21.33 403.86 382.53 0.16 0.11 0.31
---------------------------------------------------------------------------
including 144.78 233.17 88.39 0.19 0.14 0.37
---------------------------------------------------------------------------
and 303.28 403.86 100.58 0.24 0.13 0.41 To end of
Hole
---------------------------------------------------------------------------
09-CBCN-042 224.64 367.89 143.25 0.10 0.10 0.24 To end of
Hole
---------------------------------------------------------------------------
CB1 0.00 169.16 169.16 0.22 0.15 0.42 To end of
Hole
---------------------------------------------------------------------------
including 36.57 131.06 94.49 0.29 0.17 0.51
---------------------------------------------------------------------------
CB10 44.19 50.29 6.10 0.40 0.04 0.45
---------------------------------------------------------------------------
CB12 73.15 114.29 41.14 0.14 0.11 0.28
---------------------------------------------------------------------------
including 99.06 114.29 15.23 0.23 0.16 0.44
---------------------------------------------------------------------------
CB13 15.24 22.86 7.62 0.48 0.09 0.59
---------------------------------------------------------------------------
and 65.53 123.44 57.91 0.33 0.05 0.40
---------------------------------------------------------------------------
CB15 35.05 57.91 22.86 0.38 0.05 0.45
---------------------------------------------------------------------------
CB16 56.39 129.53 73.14 0.11 0.06 0.18 To end of
Hole
---------------------------------------------------------------------------
CB17 1.52 76.20 74.68 0.27 0.07 0.36
---------------------------------------------------------------------------
CB2 153.92 193.54 39.62 0.22 0.08 0.32 To end of
Hole
---------------------------------------------------------------------------
including 153.92 182.87 28.95 0.39 0.15 0.60
---------------------------------------------------------------------------
CB4 96.01 144.77 48.76 1.19 0.12 1.35 To end of
Hole
---------------------------------------------------------------------------
including 96.01 128.01 32.00 1.73 0.17 1.95
---------------------------------------------------------------------------
CB5 18.29 103.63 85.34 0.49 0.07 0.58 Across
Oxidised
Breccia Pipe
---------------------------------------------------------------------------
including 18.29 36.57 18.28 1.42 0.10 1.55
---------------------------------------------------------------------------
and 57.91 102.10 44.19 0.30 0.07 0.40
---------------------------------------------------------------------------
CB6 33.53 102.10 68.57 0.21 0.05 0.28 Across
Oxidised
Breccia Pipe
---------------------------------------------------------------------------
including 39.62 48.77 9.15 0.47 0.10 0.60
---------------------------------------------------------------------------
and 97.53 102.10 4.57 0.60 0.07 0.69 To end of
Hole
---------------------------------------------------------------------------
CB7 0.00 109.72 109.72 0.12 0.04 0.17
---------------------------------------------------------------------------
including 99.06 108.20 9.14 0.26 0.11 0.41
---------------------------------------------------------------------------
DDH04CB1 10.00 300.00 290.00 0.39 0.16 0.61 To end of
Hole
---------------------------------------------------------------------------
including 46.00 126.00 80.00 0.59 0.24 0.91
---------------------------------------------------------------------------
and 152.00 260.00 108.00 0.38 0.17 0.60
---------------------------------------------------------------------------
and 172.00 196.00 24.00 0.89 0.28 1.25
---------------------------------------------------------------------------
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 El Cobre,
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 the Company's flagship Tuligtic
project where the Ixtaca zone is located. Currently five projects
(Caldera, Yago, Matehuapil, Willow and Merit), 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 NSR
interest in 12 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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