Almaden Hits 17.00 Meters of 3.74 g/t Gold and 67.4 g/t Silver (5.1 g/t AuEq) on Northeast Extension Zone
26 Marzo 2012 - 10:30PM
Marketwired
Almaden Minerals Ltd. (TSX:AMM)(NYSE Amex:AAU) ("Almaden" or "the
Company") is pleased to announce further results from the on-going
4 drill exploration program on the Company's 100% owned Tuligtic
project, Mexico with holes TU-11-95, TU-12-97 and TU-12-99 to 105.
Holes TU-12-100 and 103 were drilled on the Northeast Extension
Zone, along strike and north of the Main Ixtaca Zone. Both these
holes intersected significant gold grades with TU-12-103 returning
the highest grades encountered to date from the Northeast Extension
Zone. Holes TU-11-95, TU-12-97, 101 to 104 were drilled into the
Main Ixtaca Zone. Hole TU-12-99 was drilled to the south of the
Main Ixtaca Zone and hole TU-12-105 was drilled on the Southeast
Extension Zone. Final assays are pending for holes TU-12-96 (Main
Ixtaca Zone) and 98 (Northeast Extension Zone). Highlights from the
current group of assays include the following intercepts (a
complete list of intercepts is shown in the table below):
Hole TU-11-95 MAIN IXTACA ZONE, SECTION 650:
38.33 meters @ 0.51 g/t gold and 69.9 g/t silver (1.9 g/t gold
equivalent)
Including 4.70 meters @ 0.92 g/t gold and 194.2 g/t silver
(4.8 g/t gold equivalent)
Hole TU-12-97 MAIN IXTACA ZONE, SECTION 700:
59.00 meters @ 0.68 g/t gold and 41.1 g/t silver (1.5 g/t gold
equivalent)
Including 2.55 meters @ 8.55 g/t gold and 506.2 g/t silver
(18.7 g/t gold equivalent)
Hole TU-12-100 NE EXTENSION, SECTION 1100:
17.20 meters @ 1.19 g/t gold and 58.4 g/t silver (2.4 g/t gold
equivalent)
Hole TU-12-101 MAIN IXTACA ZONE, SECTION 600:
31.80 meters @ 1.33 g/t gold and 103.7 g/t silver (3.4 g/t gold
equivalent)
and 11.40 meters @ 3.82 g/t gold and 24.3 g/t silver (4.3 g/t gold
equivalent)
Hole TU-12-103 NE EXTENSION, SECTION 1100:
70.00 meters @ 1.17 g/t gold and 46.2 g/t silver (2.1 g/t gold
equivalent)
Including 17.00 meters @ 3.74 gold and 67.4 g/t silver (5.1
g/t gold equivalent)
Hole TU-12-104 MAIN IXTACA ZONE, SECTION 700:
111.25 meters @ 0.59 g/t gold and 28.3 g/t silver (1.2 g/t gold
equivalent)
Including 8.50 meters @ 1.14 gold and 119.7 g/t silver (3.5
g/t gold equivalent)
J.D. Poliquin, Chairman of Almaden, commented, "We are very
pleased with these new results which continue to confirm and show
the Ixtaca zone to be 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. The new results reported
today from the Northeast Extension Zone show that robust
mineralisation and high gold grades exist here as well. Drilling to
date on the Ixtaca vein system shows good continuity of
mineralisation in both horizontal and vertical dimensions."
The Company currently has four drills operating on the Tuligtic
project. Almaden plans to continue drilling operations throughout
2012. A plan map, relevant sections and table of significant
intervals can be viewed by clicking on the following link:
http://media3.marketwire.com/docs/amm326.pdf, and will be posted to
the Company's website (www.almadenminerals.com).
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From To Interval Au Ag AuEq AgEq
Hole # (m) (m) (m) (g/t) (g/t) (g/t) (g/t)
---------------------------------------------------------------------------
TU-11-95 12.20 80.10 67.90 0.24 20.6 0.6 32
---------------------------------------------------------------------------
including 74.55 79.60 5.05 0.92 89.2 2.7 135
---------------------------------------------------------------------------
TU-11-95 133.95 137.00 3.05 0.83 32.3 1.5 74
---------------------------------------------------------------------------
TU-11-95 149.25 167.23 17.98 0.50 36.4 1.2 61
---------------------------------------------------------------------------
TU-11-95 176.07 214.40 38.33 0.51 69.9 1.9 96
---------------------------------------------------------------------------
including 209.70 214.40 4.70 0.92 194.2 4.8 240
---------------------------------------------------------------------------
TU-12-97 135.85 194.85 59.00 0.68 41.1 1.5 75
---------------------------------------------------------------------------
including 149.33 151.88 2.55 8.55 506.2 18.7 934
---------------------------------------------------------------------------
TU-12-97 204.43 226.50 22.07 0.63 27.5 1.2 59
---------------------------------------------------------------------------
TU-12-97 250.80 259.50 8.70 0.51 20.1 0.9 46
---------------------------------------------------------------------------
TU-12-97 270.80 280.47 9.67 0.33 16.8 0.7 33
---------------------------------------------------------------------------
TU-12-99 185.00 200.00 15.00 0.21 4.5 0.3 15
---------------------------------------------------------------------------
TU-12-99 230.00 239.00 9.00 0.37 1.4 0.4 20
---------------------------------------------------------------------------
TU-12-100 73.00 180.00 107.00 0.41 26.2 0.9 47
---------------------------------------------------------------------------
including 85.30 102.50 17.20 1.19 58.4 2.4 118
---------------------------------------------------------------------------
TU-12-101 162.75 184.15 19.40 0.31 56.9 1.5 73
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TU-12-101 208.70 240.50 31.80 1.33 103.7 3.4 170
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including 220.10 237.30 17.20 2.07 171.4 5.5 275
---------------------------------------------------------------------------
TU-12-101 349.10 360.50 11.40 3.82 24.3 4.3 215
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including 349.10 352.60 3.50 11.89 63.3 13.2 658
---------------------------------------------------------------------------
TU-12-102 120.50 135.51 11.01 0.28 16.7 0.6 31
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TU-12-102 150.05 157.50 7.45 0.42 61.4 1.6 82
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TU-12-102 185.33 200.20 14.87 0.20 21.5 0.6 32
---------------------------------------------------------------------------
TU-12-103 108.50 132.50 24.00 0.19 24.0 0.7 33
---------------------------------------------------------------------------
TU-12-103 172.80 203.80 31.00 0.22 40.6 1.0 51
---------------------------------------------------------------------------
TU-12-103 210.50 280.50 70.00 1.17 46.2 2.1 105
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including 236.50 280.00 43.50 1.75 52.1 2.8 140
---------------------------------------------------------------------------
and 263.00 280.00 17.00 3.74 67.4 5.1 255
---------------------------------------------------------------------------
TU-12-103 295.00 326.70 31.70 0.26 39.0 1.0 52
---------------------------------------------------------------------------
TU-12-104 83.45 87.00 3.55 0.74 95.5 2.7 133
---------------------------------------------------------------------------
TU-12-104 152.00 263.25 111.25 0.59 28.3 1.2 58
---------------------------------------------------------------------------
including 157.50 166.00 8.50 1.14 119.7 3.5 177
---------------------------------------------------------------------------
and 225.00 250.00 25.00 1.11 9.5 1.3 65
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TU-12-105 62.79 90.00 27.21 0.24 5.13 0.3 17
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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 Main Ixtaca
Zone is sub vertical with local variations. This interpretation
suggests that true widths range from approximately 35% of
intersected widths for a -70 degree hole to 94% of intersected
widths for a -20 degree hole. The drilling completed to date has
traced mineralisation over 1,000 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 Northeast Extension Zone however overall the zone is
currently interpreted to be dipping shallowly to the north and
striking at 060 Azimuth. Until this interpretation is confirmed
true widths for the Northeast Extension intersections cannot be
calculated with confidence at this time.
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 $47.2 MM as of January 12th,
2012) 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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