Almaden Discovers New Area of Mineralisation at Tuligtic, Mexico 2.4 km to Southwest from Ixtaca Zone, Hits 7.00 m of 0.7 g/t...
13 Dicembre 2012 - 10:44PM
Marketwired
Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX:AMM)(NYSE
Amex:AAU)(NYSE MKT:AAU) is pleased to announce the discovery of a
new area of mineralisation on Almaden's 100% owned Tuligtic
property, Mexico called the Tano zone. Five holes were drilled to
test an area of where anomalous gold was detected in soil samples
taken previously by the Company. One of the holes intersected
significant mineralisation including 2.00 meters of 1.76 g/t gold.
The Tano zone is one of several gold in soil anomalies on the
greater than 14,000 hectare Tuligtic project that are located
outside of the Ixtaca Zone.
Highlights from the holes released today include the following
intercepts:
Hole TZ-12-003 TANO ZONE
7.00 meters @ 0.71 g/t gold and 2.40 g/t silver (0.8 g/t gold
equivalent)
Including 2.00 meters @ 1.76 g/t gold and 5.45 g/t silver (1.9
g/t gold equivalent)
J.D. Poliquin, Chairman of Almaden, commented, "This new
discovery shows that the greater than 14,000 hectare Tuligtic
project has potential to host significant mineralisation well
beyond the Ixtaca Zone discovery area. The results are preliminary
in nature but follow-up drilling is planned on the Tano zone as
well as the other areas of anomalous gold in soil on the project.
On the Ixtaca Zone itself, we are excited to be working towards our
maiden resource estimation, however, these new results from outside
the resource area show that the resource has potential to grow
significantly beyond its current edges. Since the discovery in 2010
of the Main Ixtaca Zone we have found the parallel Ixtaca North
Zone, the perpendicular Northeast Extension (Chemalaco) Zone and
widespread mineralisation in the volcanic units. All of these zones
remain open and drilling is on-going to continue to expand the
resource beyond the boundaries set for the maiden resource."
As discussed in more detail in Almaden's previous news releases
of April 6th, 2011 and June 29th, 2011, surface work by the Company
has identified numerous gold-silver targets on the Tuligtic
project. The area of the Tuligtic project is partially covered by
volcanic ash deposits which mask underlying potential vein zones
and associated soil responses. In areas devoid of this covering
ash, soil sampling has defined several areas of elevated gold and
silver values, and trace elements typically associated with
epithermal vein systems. The Ixtaca zone is the largest area of
gold/silver soil response but it is also the area with the least
ash cover on the project. Management believes that the additional
areas of anomalous gold and silver in soil could represent zones of
underlying quartz-carbonate epithermal veining similar to that of
the Ixtaca zone. Elevated gold and silver in soil at the Ixtaca
East zone, located over 2 kilometres along strike from the Ixtaca
zone soil anomaly, may represent the extension of veining and the
Ixtaca zone in that direction. In total 2,999 soil samples have
been taken on the Tuligtic property and have returned gold values
from below detection to 720 ppb gold (0.72 g/t), averaging 8 ppb
gold and from below detection to 30.6 g/t silver averaging 0.3 g/t
silver. Rock samples of clay altered volcanic and vein float in the
new areas returned highly anomalous values of gold and silver
consistent with these interpretations. Highlights of sampling from
these areas include:
Casa Azul Zone: Located 2.3 kilometres north of the Ixtaca zone.
Of the 171 soil samples defining the Azul anomaly, gold values
ranged from below detection to 620 ppb Au and 30.6 g/t silver. A
single grab of quartz-carbonate vein float found in the Azul zone
returned 2 g/t gold and 37.8 g/t silver.
Sol Zone: Located 2.5 kilometres northeast of the Ixtaca zone.
Of the 36 soils defining the Sol soil anomaly, gold values ranged
from below detection to 130 ppb gold and 4.5 g/t silver.
Below is a plan map and section which will be posted to the
Company's website (www.almadenminerals.com).
To view the plan map and section accompanying this press
release, please click on the following link:
http://media3.marketwire.com/docs/amm1213i.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.
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.
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 MKT 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)info@almadenminerals.com www.almadenminerals.com
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