Almaden Hits 29.45 Meters of 3.21 g/t Gold and 136.3 g/t Silver (5.9 g/t AuEq) on Main Ixtaca Zone
07 Maggio 2012 - 3:00PM
Marketwired
Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX:AMM)(NYSE
Amex:AAU) 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-12-96, TU-12-98 and TU-12-106 to 125.
Holes TU-12-98, 109, 113 and 116 were drilled on the Northeast
Extension Zone. Holes TU-12-110, 114, 118,119 and 122 were drilled
into the Ixtaca North Zone. The remainder of the holes reported in
this release were drilled into the Main Ixtaca Zone with holes
TU-120, 123 and 124 from infill sections spaced at 25 meters from
previous 50 meter spaced sections. Holes TU-12-108, 111, 117 and
121 on sections 10750 and 10800 demonstrate continuity of the Main
Ixtaca Zone up-dip and along strike to the northeast. Highlights
from the current group of assays include the following intercepts
(a more complete list of intercepts is shown in the table
below):
Hole TU-12-96 MAIN IXTACA ZONE, SECTION 10600:
97.9 meters @ 0.92 g/t gold and 65.2 g/t silver (2.2 g/t gold equivalent)
Including 7.79 meters @ 4.76 g/t gold and 277.3 g/t silver (10.3 g/t gold
equivalent)
Hole TU-12-98 NE EXTENSION, SECTION 11100:
92.5 meters @ 0.79 g/t gold and 60.2 g/t silver (2.0 g/t gold equivalent)
Including 47.50 meters @ 1.19 g/t gold and 91.7 g/t silver (3.0 g/t gold
equivalent)
Hole TU-12-110 IXTACA NORTH ZONE, SECTION 10250:
32.50 meters @ 1.12 g/t gold and 5.1 g/t silver (1.2 g/t gold equivalent)
and 5.10 meters @ 6.87 g/t gold and 10.9 g/t silver (7.1 g/t gold
equivalent)
Hole TU-12-111 MAIN IXTACA ZONE, SECTION 10800:
195.30 meters @ 0.85 g/t gold and 66.2 g/t silver (2.2 g/t gold equivalent)
Including 23.70 meters @ 2.57 gold and 272.6 g/t silver (8.0 g/t gold
equivalent)
Hole TU-12-119 IXTACA NORTH ZONE, SECTION 10500:
7.08 meters @ 1.29 g/t gold and 269.6 g/t silver (6.7 g/t gold equivalent)
and 39.10 meters @ 1.44 gold and 31.5 g/t silver (2.1 g/t gold equivalent)
Hole TU-12-123 MAIN IXTACA ZONE, SECTION 10525:
241.15 meters @ 1.13 g/t gold and 59.3 g/t silver (2.3 g/t gold equivalent)
Including 29.45 meters @ 3.21 g/t gold and 136.3 g/t silver (5.9 g/t gold
equivalent)
Hole TU-12-124 MAIN IXTACA ZONE, SECTION 10675:
185.00 meters @ 1.00 g/t gold and 60.5 g/t silver (2.2 g/t gold equivalent)
Including 13.90 meters @ 6.04 g/t gold and 179.7 g/t silver (9.6 g/t gold
equivalent)
Hole TU-12-125 IXTACA NORTH ZONE, SECTION 10550:
19.50 meters @ 1.20 g/t gold and 64.1 g/t silver (2.5 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 Ixtaca North and 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. Below is a plan map, relevant sections and table of
significant intervals which will be posted to the Company's website
(www.almadenminerals.com).
To view the figures associated with this release, please visit
the following link:
http://file.marketwire.com/release/amm0507figures.pdf.
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Gold Silver
From To Interval Gold Silver Eq Eq
Hole # Section (m) (m) (m) (g/t) (g/t) (g/t) (g/t)
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TU-12-096 10600 151.40 249.33 97.93 0.92 65.2 2.2 111
----------------------------------------------------------------------------
TU-12-096 10600 including 197.00 200.86 3.86 1.61 99.3 3.6 180
----------------------------------------------------------------------------
TU-12-096 10600 and 206.15 211.65 5.50 1.69 124.6 4.2 209
----------------------------------------------------------------------------
TU-12-096 10600 and 223.54 229.22 5.68 2.30 191.3 6.1 306
----------------------------------------------------------------------------
TU-12-096 10600 and 238.85 246.64 7.79 4.76 277.3 10.3 515
----------------------------------------------------------------------------
TU-12-096 10600 279.31 288.40 9.09 2.83 23.9 3.3 165
----------------------------------------------------------------------------
TU-12-098 11100 124.50 216.95 92.45 0.79 60.2 2.0 100
----------------------------------------------------------------------------
TU-12-098 11100 including 145.15 192.65 47.50 1.19 91.7 3.0 151
----------------------------------------------------------------------------
TU-12-106 11100 167.70 177.00 9.30 0.32 121.3 2.7 138
----------------------------------------------------------------------------
TU-12-106 11100 191.00 195.00 4.00 0.14 99.9 2.1 107
----------------------------------------------------------------------------
TU-12-106 11100 204.50 223.00 18.50 0.28 47.3 1.2 61
----------------------------------------------------------------------------
TU-12-106 11100 272.00 292.70 20.70 0.59 40.6 1.4 70
----------------------------------------------------------------------------
TU-12-107 10650 189.50 215.80 26.30 0.87 27.7 1.4 71
----------------------------------------------------------------------------
TU-12-107 10650 405.90 412.55 6.65 0.91 91.2 2.7 137
----------------------------------------------------------------------------
TU-12-108 10800 139.00 225.50 86.50 0.48 47.2 1.4 71.04
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TU-12-109 11100 256.50 280.50 24.00 0.36 28.6 0.9 47
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TU-12-110 10250 40.50 93.00 52.50 0.79 3.5 0.9 43
----------------------------------------------------------------------------
TU-12-110 10250 including 60.50 93.00 32.50 1.12 5.1 1.2 61
----------------------------------------------------------------------------
TU-12-110 10250 140.50 145.60 5.10 6.87 10.9 7.1 354
----------------------------------------------------------------------------
TU-12-111 10800 99.75 295.05 195.30 0.85 66.2 2.2 109
----------------------------------------------------------------------------
TU-12-111 10800 including 171.50 229.50 58.00 1.68 156.6 4.8 240
----------------------------------------------------------------------------
TU-12-111 10800 and 183.80 207.50 23.70 2.57 272.6 8.0 402
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TU-12-112 10750 360.50 365.55 5.05 1.89 33.0 2.5 127
----------------------------------------------------------------------------
TU-12-113 11100 91.50 148.15 56.65 0.54 32.4 1.2 59
----------------------------------------------------------------------------
TU-12-114 10250 23.75 118.85 95.10 0.59 4.0 0.7 33
----------------------------------------------------------------------------
TU-12-114 10250 and 111.00 117.65 6.65 2.01 10.3 2.2 111
----------------------------------------------------------------------------
TU-12-114 10250 138.99 157.60 18.61 2.59 3.8 2.7 133
----------------------------------------------------------------------------
TU-12-114 10250 including 138.99 139.50 0.51 85.80 42.2 86.6 4332
----------------------------------------------------------------------------
TU-12-114 10250 203.00 221.10 18.10 0.75 12.2 1.0 50
----------------------------------------------------------------------------
TU-12-115 10800 70.90 85.25 14.35 1.49 55.5 2.6 130
----------------------------------------------------------------------------
TU-12-115 10800 234.90 236.90 2.00 0.82 98.7 2.8 140
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TU-12-116 11150 77.50 88.50 11.00 1.04 22.4 1.5 74
----------------------------------------------------------------------------
TU-12-117 10750 74.00 221.89 147.89 0.74 59.2 1.9 96
----------------------------------------------------------------------------
TU-12-117 10750 including 131.96 163.70 31.74 1.33 74.0 2.8 140
----------------------------------------------------------------------------
TU-12-117 10750 and 157.40 163.70 6.30 3.22 35.0 3.9 196
----------------------------------------------------------------------------
TU-12-117 10750 and 176.80 180.30 3.50 4.16 460.4 13.4 669
----------------------------------------------------------------------------
TU-12-117 10750 and 186.50 195.40 8.90 0.96 161.0 4.2 209
----------------------------------------------------------------------------
TU-12-118 10250 46.15 63.50 17.35 0.61 4.9 0.7 35
----------------------------------------------------------------------------
TU-12-119 10500 232.50 339.00 106.50 0.46 72.2 1.9 95
----------------------------------------------------------------------------
TU-12-119 10500 including 234.09 237.13 3.04 1.82 446.4 10.8 538
----------------------------------------------------------------------------
TU-12-119 10500 and 261.52 268.60 7.08 1.29 269.6 6.7 334
----------------------------------------------------------------------------
TU-12-119 10500 and 292.40 307.50 15.10 0.84 100.3 2.8 142
----------------------------------------------------------------------------
TU-12-119 10500 394.50 400.85 6.35 1.78 97.9 3.7 187
----------------------------------------------------------------------------
TU-12-119 10500 444.10 483.20 39.10 1.44 31.5 2.1 103
----------------------------------------------------------------------------
TU-12-119 10500 including 456.60 462.70 6.10 5.15 123.4 7.6 381
----------------------------------------------------------------------------
TU-12-120 10675 260.90 290.90 30.00 0.74 96.7 2.7 133
----------------------------------------------------------------------------
TU-12-120 10675 including 260.90 266.10 5.20 2.78 437.0 11.5 576
----------------------------------------------------------------------------
TU-12-121 10750 87.80 199.84 112.04 0.50 40.9 1.3 66
----------------------------------------------------------------------------
TU-12-121 10750 including 153.70 161.45 7.75 3.18 247.8 8.1 407
----------------------------------------------------------------------------
TU-12-122 10200 222.00 241.00 19.00 0.32 40.2 1.1 56
----------------------------------------------------------------------------
TU-12-122 10200 262.05 276.25 14.20 0.71 43.8 1.6 79
----------------------------------------------------------------------------
TU-12-123 10525 52.25 293.40 241.15 1.13 59.3 2.3 116
----------------------------------------------------------------------------
TU-12-123 10525 including 172.90 202.35 29.45 3.21 136.3 5.9 297
----------------------------------------------------------------------------
TU-12-123 10525 and 226.60 240.50 13.90 2.58 132.5 5.2 261
----------------------------------------------------------------------------
TU-12-123 10525 and 264.30 270.18 5.88 3.00 117.1 5.3 267
----------------------------------------------------------------------------
TU-12-124 10675 116.50 301.50 185.00 1.00 60.5 2.2 111
----------------------------------------------------------------------------
TU-12-124 10675 including 167.50 181.40 13.90 6.04 179.7 9.6 482
----------------------------------------------------------------------------
TU-12-125 10550 332.00 351.50 19.50 1.20 64.1 2.5 124
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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 and Ixtaca North Zones of veining
are thought to have a north-easterly trend. Holes to date suggest
that the Main Ixtaca and Ixtaca North Zones are 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 $41.2 MM as of March 21, 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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