Almaden Steps Out to West, Cuts 30.90 Meters 4.6 g/t AuEq (1.65 g/t Au and 145.4 g/t Ag) in Volcanic Rocks
28 Agosto 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 exploration drill program at the Company's 100% owned
Tuligtic project, Mexico with holes TU-12-160, 163, 167, 171, 172,
177, 182, 183, 185 and 187. Apart from hole TU-12-172, all holes
reported today are from sections 10+150 and 10+200 at the extreme
southwest end of the known mineralisation. The intersections
reported today from both these sections indicate that significant
mineralisation exists in volcanic rocks in this area. Hole
TU-12-172 was drilled on section 10+450 into the Main Ixtaca Zone.
Highlights from the holes released today include the following
intercepts (a more complete list of intercepts is shown in the
table below):
Hole TU-12-160 VOLCANIC SECTION 10+200:
7.50 meters @ 0.95 g/t gold and 1.0 g/t silver (1.0 g/t gold equivalent)
45.00 meters @ 0.82 g/t gold and 16.2 g/t silver (1.1 g/t gold equivalent)
Hole TU-12-163 VOLCANIC SECTION 10+150:
29.70 meters @ 0.50 g/t gold and 1.1 g/t silver (0.5 g/t gold equivalent)
Including 8.75 meters @ 1.06 g/t gold and 1.7 g/t silver (1.1 g/t gold
equivalent)
Hole TU-12-167 VOLCANIC SECTION 10+150:
16.00 meters @ 1.08 g/t gold and 10.2 g/t silver (1.3 g/t gold equivalent)
Hole TU-12-171 VOLCANIC SECTION 10+150:
51.50 meters @ 1.12 g/t gold and 88.6 g/t silver (2.9 g/t gold equivalent)
Including 30.90 meters @ 1.65 g/t gold and 145.4 g/t silver (4.6 g/t gold
equivalent)
And 11.50 meters @ 2.76 g/t gold and 356.5 g/t silver (9.9 g/t gold
equivalent)
Hole TU-12-172 MAIN IXTACA ZONE SECTION 10+450:
30.50 meters @ 0.95 g/t gold and 54.1 g/t silver (2.0 g/t gold equivalent)
Including 1.00 meters @ 18.47 g/t gold and 1390.5 g/t silver (46.3 g/t gold
equivalent)
25.50 meters @ 0.50 g/t gold and 8.5 g/t silver (0.7 g/t gold equivalent)
45.35 meters @ 0.52 g/t gold and 10.6 g/t silver (0.7 g/t gold equivalent)
Hole TU-12-177 VOLCANIC AND MAIN IXTACA ZONE, SECTION 10+200:
163.10 meters @ 0.55 g/t gold and 7.4 g/t silver (0.7 g/t gold equivalent)
Including 43.62 meters @ 1.06 g/t gold and 12.4 g/t silver (1.3 g/t gold
equivalent)
Hole TU-12-187 VOLCANIC, SECTION 10+150:
15.00 meters @ 0.95 g/t gold and 3.7 g/t silver (1.0 g/t gold equivalent)
Including 6.40 meters @ 1.73 g/t gold and 5.3 g/t silver (1.8 g/t gold
equivalent)
J.D. Poliquin, Chairman of Almaden commented, "Drilling
continues to confirm and extend the Ixtaca mineralisation, a strong
system of veining with sections that carry high gold and silver
grades. The new results reported today from the south-western
extent of the system show that significant mineralisation also
exists in the volcanic rocks in this area. The limits to
mineralisation have yet to be defined and our work continues to
expand the potential of the project." 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).
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From To Interval Au Ag AuEq AgEq
Hole # (m) (m) (m) (g/t) (g/t) (g/t) (g/t)
-----------------------------------------------------------------------
TU-12-160 88.50 96.00 7.50 0.95 1.0 1.0 48
-----------------------------------------------------------------------
TU-12-160 164.00 209.00 45.00 0.82 16.2 1.1 57
-----------------------------------------------------------------------
including 166.00 180.00 14.00 1.11 6.3 1.2 62
-----------------------------------------------------------------------
including 194.60 198.00 3.40 2.46 81.9 4.1 205
-----------------------------------------------------------------------
TU-12-160 219.50 251.76 32.26 0.27 8.2 0.4 22
-----------------------------------------------------------------------
TU-12-163 110.50 140.20 29.70 0.50 1.1 0.5 26
-----------------------------------------------------------------------
including 129.00 137.75 8.75 1.06 1.7 1.1 55
-----------------------------------------------------------------------
TU-12-163 178.00 189.50 11.50 0.23 3.8 0.3 15
-----------------------------------------------------------------------
TU-12-163 209.50 264.80 55.30 0.23 7.3 0.4 19
-----------------------------------------------------------------------
including 212.75 228.50 15.75 0.57 17.5 0.9 46
-----------------------------------------------------------------------
TU-12-167 98.00 114.00 16.00 1.08 10.2 1.3 64
-----------------------------------------------------------------------
TU-12-167 121.00 128.35 7.35 0.22 6.0 0.3 17
-----------------------------------------------------------------------
TU-12-167 366.50 377.40 10.90 0.54 7.9 0.7 35
-----------------------------------------------------------------------
including 366.50 369.25 2.75 1.24 19.7 1.6 82
-----------------------------------------------------------------------
TU-12-171 54.50 106.00 51.50 1.12 88.6 2.9 144
-----------------------------------------------------------------------
including 72.60 103.50 30.90 1.65 145.4 4.6 228
-----------------------------------------------------------------------
including 83.50 95.00 11.50 2.76 356.5 9.9 495
-----------------------------------------------------------------------
TU-12-171 279.20 287.25 8.05 0.22 4.1 0.3 15
-----------------------------------------------------------------------
TU-12-172 153.50 181.50 28.00 0.10 12.0 0.3 17
-----------------------------------------------------------------------
TU-12-172 198.20 228.70 30.50 0.95 54.1 2.0 101
-----------------------------------------------------------------------
including 207.70 208.70 1.00 18.47 1390.5 46.3 2314
-----------------------------------------------------------------------
TU-12-172 268.50 271.00 2.50 2.83 36.0 3.5 177
-----------------------------------------------------------------------
TU-12-172 290.00 315.50 25.50 0.50 8.5 0.7 34
-----------------------------------------------------------------------
TU-12-172 336.45 381.80 45.35 0.52 10.6 0.7 37
-----------------------------------------------------------------------
including 336.45 354.50 18.05 0.85 9.2 1.0 52
-----------------------------------------------------------------------
including 344.00 347.00 3.00 2.86 17.0 3.2 160
-----------------------------------------------------------------------
TU-12-177 89.00 252.10 163.10 0.55 7.4 0.7 35
-----------------------------------------------------------------------
including 110.50 200.70 90.20 0.76 9.4 1.0 48
-----------------------------------------------------------------------
including 144.08 187.70 43.62 1.06 12.4 1.3 65
-----------------------------------------------------------------------
including 181.66 185.45 3.79 3.67 30.9 4.3 214
-----------------------------------------------------------------------
TU-12-182 127.40 139.70 12.30 0.13 4.1 0.2 11
-----------------------------------------------------------------------
TU-12-183 64.45 77.75 13.30 0.17 3.1 0.2 12
-----------------------------------------------------------------------
TU-12-185 45.70 50.00 4.30 0.33 0.1 0.3 17
-----------------------------------------------------------------------
TU-12-185 58.35 66.45 8.10 0.33 0.0 0.3 17
-----------------------------------------------------------------------
TU-12-187 85.00 100.00 15.00 0.95 3.7 1.0 51
-----------------------------------------------------------------------
including 85.50 91.90 6.40 1.73 5.3 1.8 92
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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 west and striking roughly north-south.
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 $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.
To view the maps accompanying this press release, click on the
following link: http://media3.marketwire.com/docs/a827m.pdf
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. 604.689.7644 604.689.7645 (FAX)
www.almadenminerals.com
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