Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX:AMM)(NYSE
MKT:AAU) is pleased to announce that drilling has recommenced at
its 100% owned Tuligtic Project in Mexico. In January 2013 Almaden
announced the maiden resource on the Ixtaca Zone of the Tuligtic
Project which at a 0.5 g/t AuEq cutoff included Indicated Resources
of 2,019,000 AuEq ounces and Inferred Resources of 1,552,000 AuEq
ounces (see Almaden news release of January 31st, 2013). The 2013
drilling program will focus on expanding the resource as well as
testing other areas on the 14,000 hectare project considered by
management to be highly prospective.
J.D. Poliquin, Chairman of Almaden commented, "Our focus in 2013
is expanding upon the maiden resource as well as exploring for
additional Ixtaca Zones. We have been successful in expanding upon
the initial discovery and believe that there is much yet to find
under cover on the Tuligtic project. 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 targeted to expand the resource has
commenced."
Almaden also announces today the approval and adoption by its
board of directors (the "Board of Directors") of an advance notice
policy (the "Policy") on January 28, 2013, which Policy, among
other things, includes a provision that requires advance notice to
the Company in circumstances where nominations of persons for
election to the Board of Directors are made by shareholders of the
Company other than pursuant to: (i) a requisition of a meeting made
pursuant to the provisions of the Business Corporations Act
(British Columbia) (the "Act"); or (ii) a shareholder proposal made
pursuant to the provisions of the Act.
The Policy, among other things, fixes a deadline by which
holders of record of common shares of the Company must submit
director nominations to the Company prior to any annual or special
meeting of shareholders and sets forth the information that a
shareholder must include in the notice to the Company for the
notice to be in proper written form.
In the case of an annual meeting of shareholders, notice to the
Company must be made not less than 30 nor more than 65 days prior
to the date of the annual meeting; provided, however, that in the
event that the annual meeting is to be held on a date that is less
than 50 days after the date on which the first public announcement
of the date of the annual meeting was made, notice may be made not
later than the close of business on the 10th day following such
public announcement.
In the case of a special meeting of shareholders (which is not
also an annual meeting), notice to the Company must be made not
later than the close of business on the 15th day following the day
on which the first public announcement of the date of the special
meeting was made.
The Policy is effective as of the date it was adopted. The full
text of the Policy is available via SEDAR at www.sedar.com or upon
request by contacting the Corporate Secretary of the Company at
(604) 689 7644 or by e-mail at info@almadenminerals.com.
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.
About the Ixtaca Maiden Resource
The Ixtaca zone is a gold (Au) and silver (Ag) deposit with
roughly equal values per tonne of each metal. The resource is
presented in gold equivalent (AuEq) ounces and cut-offs calculated
based on price ratios. The newly received preliminary metallurgical
test results indicate non-optimised gold and silver recoveries that
are roughly equivalent for each geological domain. The deposit is
mostly hosted by carbonate units and crosscutting dykes ("basement
rocks") and overlying volcanic rocks. In the base case roughly 90%
of the deposit's AuEq ounces are hosted in the basement rocks, the
remaining 10% in volcanic rocks. Below are highlights of the
resource estimate:
-- Indicated Resource of 2,019,000 AuEq ounces using the base case 0.5
(g/t) AuEq cutoff comprised of 56.99 million tonnes grading at 1.10 g/t
AuEq (0.52 g/t Au and 29.91 g/t Ag)
-- Inferred Resource of 1,552,000 AuEq ounces using the base case 0.5 g/t
AuEq cutoff comprised of 41.53 million tonnes grading 1.16 g/t AuEq
(0.56 g/t Au and 31.41 g/t Ag)
-- Excellent overall Au and Ag recoveries averaging 88% for Au and 82% for
Ag across all geologic domains: In basement rocks average recoveries are
93% for Au and 82% for Ag (ranging from 88.6 to 96.8% for Au, and 81.8
to 87.0% for Ag); in volcanics 54.1% Au, and 61.9% Ag.
-- High gravity recoveries of Au in basement rocks averaging 55% (ranging
from 48% to 59%); 15% for volcanic rocks.
-- Gold equivalent ("AuEq" or "Gold Eq.") and silver equivalent ("AgEq" or
"Silver Eq.") values were calculated using silver to gold ratio based on
the three year trailing average for gold and silver, $1500/ounce gold
and $29/ounce silver.
Cautionary Note concerning estimates of Indicated and Inferred
Mineral Resources:
This news release uses terms that comply with reporting
standards in Canada and certain estimates are made in accordance
with Canadian National Instrument NI 43-101 ("NI 43 101"). NI 43
101 is a rule developed by the Canadian Securities Administrators
that establishes Canadian standards for all public disclosure an
issuer makes of scientific and technical information concerning
mineral projects. These standards differ significantly from the
requirements of the U.S. Securities and Exchange Commission
("SEC"), and mineral resource information contained herein may not
be comparable to similar information disclosed by United States
companies.
This news release uses the terms "indicated mineral resources"
and "inferred mineral resources" to comply with reporting standards
in Canada. We advise United States investors that while such terms
are recognized and required by Canadian regulations, the SEC does
not recognize them. United States investors are cautioned not to
assume that any part or all of the mineral deposits in such
categories will ever be converted into mineral reserves under SEC
definitions. These terms have a great amount of uncertainty as to
their existence, and great uncertainty as to their economic and
legal feasibility. Therefore, United States investors are also
cautioned not to assume that all or any part of the "indicated
mineral resources" or "inferred mineral resources" exist. In
accordance with Canadian rules, estimates of "inferred mineral
resources" cannot form the basis of feasibility or other economic
studies.
It cannot be assumed that all or any part of the "indicated
mineral resources" or "inferred mineral resources" will ever be
upgraded to a higher category.
About Almaden
Almaden is a well-financed (cash, gold inventory and equity
investments totalling approximately $31 MM as of January 15th,
2013) 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. 604.689.7644 604.689.7645
(FAX)info@almadenminerals.com www.almadenminerals.com
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