Almaden Hits 11.00 Meters of 1.09 g/t Au and 580.7 g/t Ag (12.7 g/t AuEq) in Ixtaca North Zone
12 Luglio 2012 - 3:00PM
Marketwired
Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX:AMM)(NYSE
MKT:AAU)(NYSE Amex:AAU) is pleased to announce further results from
the on-going four drill exploration program on the Company's 100%
owned Tuligtic project, Mexico with hole TU-12-145 drilled into the
Ixtaca North Zone, a developing parallel zone to the Main Ixtaca
Zone. The intercept in hole TU-12-145 includes high grades and
expands the known extent of Ixtaca North Zone. Highlights from hole
TU-12-145 include the following intercepts (a more complete list of
intercepts is shown in the table below):
Hole TU-12-145 IXTACA NORTH ZONE, SECTION 10+950:
19.00 meters @ 0.74 g/t gold and 369.1 g/t silver (8.1 g/t gold equivalent)
Including 15.60 meters @ 0.83 g/t gold @ 443.6 g/t silver (9.7 g/t gold
equivalent)
And 11.00 meters @ 1.09 g/t gold and 580.7 g/t silver (12.7 g/t
gold equivalent)
And 6.80 meters @ 1.13 g/t gold and 860.7 g/t silver (18.3 g/t
gold equivalent)
47.90 meters @ 0.79 g/t gold and 41.2 g/t silver (1.6 g/t gold equivalent)
J.D. Poliquin, Chairman of Almaden commented, "These new results
continue to confirm and extend the Ixtaca mineralisation, a strong
system of veining with sections that carry high gold and silver
grades. Including the newly discovered Ixtaca North zone, the
Ixtaca vein system is wider than previously known. The new results
reported today from the Ixtaca North zone also show that
high-grades exist in many areas of the Ixtaca vein system.
Furthermore drilling to date on the Ixtaca vein system shows good
overall 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 plan map, sections and table, please visit:
http://media3.marketwire.com/docs/amm712_Maps.pdf.
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 west and striking roughly north-south. 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.
----------------------------------------------------------------------------
From To Interval Au Ag AuEq AgEq
Hole # (m) (m) (m) (g/t) (g/t) (g/t) (g/t)
----------------------------------------------------------------------------
TU-12-145 39.00 102.50 63.50 0.36 3.7 0.4 22
----------------------------------------------------------------------------
TU-12-145 151.00 170.00 19.00 0.74 369.1 8.1 406
----------------------------------------------------------------------------
including 153.40 164.40 11.00 1.09 580.7 12.7 635
----------------------------------------------------------------------------
including 153.40 169.00 15.60 0.83 443.6 9.7 485
----------------------------------------------------------------------------
including 157.60 164.40 6.80 1.13 860.7 18.3 917
----------------------------------------------------------------------------
TU-12-145 208.50 209.50 1.00 0.35 295.5 6.3 313
----------------------------------------------------------------------------
TU-12-145 223.80 271.70 47.90 0.79 41.2 1.6 81
----------------------------------------------------------------------------
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 $35.6 MM as of July 4, 2012)
mineral exploration company working in North America. The Company
has assembled mineral exploration projects, including the Ixtaca
Zone and the Tuligtic project, 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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