|
|
Almaden Minerals Ltd.
("Almaden" or "the Company") (TSX:AMM - News)(AMEX:AAU - News) is pleased to announce
all outstanding assay results from its 2010 Ixtaca project drilling program
(holes TU-10-7 through TU-10-14; see table and plan below and complete
sections, plan and assays on the Company's website www.almadenminerals.com).
These holes further confirm the continuity of mineralisation and veining with
broad intersections such as 136.92 m of 1.47 g/t gold and 36.3 g/t silver
including 43.96 m of 3.1 g/t gold, 62.3 g/t silver (hole TU-10-10), 165.07 m
of 0.83 g/t gold and 50.8 g/t silver including 45.01 m of 2.37 g/t gold and
157.4 g/t silver (hole TU-10-12) and 203.65 m of 1.01 g/t gold and 44.3 g/t
silver (Hole TU-10-11). The drilling also intersected high-grade vein zones
such as 0.87 m of 23.29 g/t gold and 34.6 g/t silver (hole TU-10-10), 3.17 m
of 10.53 g/t gold and 585.7 g/t silver (hole TU-10-12), 1.77 meters of 48.98
g/t gold and 1391.7 g/t silver (hole TU-10-11) and 2.74 meters of 8.17 g/t
gold and 710.1 g/t silver (hole TU-10-14). The furthest holes to the
southwest, TU-10-7 and TU-10-8 both drilled on the same section, intersected
a shaley unit which appears to have been a poor host to veining as less
veining was noted. Several holes deviated significantly from their planned
orientation including holes TU-10-9, TU-10-12 and TU-10-13. TU-10-9 could not
be completed due to mechanical problems with the drill and was stopped before
getting to where the main vein zone was anticipated. Hole
TU-10-13 deviated to the north as well as steepening significantly and did
not cross, and may not have reached, the main vein zone.
J.D. Poliquin, Chairman of Almaden
commented, "Drilling to date on the Ixtaca zone shows good continuity of
mineralisation in both horizontal and vertical dimensions. We are very
pleased with the results and eagerly anticipate commencing 2011 with a drill
program designed to continue testing the strike extent and vertical continuity
of the Ixtaca zone, which appears to be marked by strong IP and gold in soil
responses for at least a kilometre northeast of present drilling."
The Ixtaca zone is a blind discovery
with little surface manifestation and the 2010 drill program was successful
in confirming its general orientation. The continuity of the vein zone and
gold/silver grades were confirmed within the discovery area. The zone of
veining is thought to have a north-easterly trend and, while true widths
still cannot be calculated with confidence, the overall vein zone is thought
to be vertical to subvertical, possibly dipping to the south. The drilling
completed to date has traced mineralisation over roughly 300 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 vein zone, including one along bedding striking roughly 150 to 170
degrees and one almost perpendicular to bedding striking roughly 50 to 70
degrees. Holes TU-10-2 through TU-10-6, TU-10-9, TU-10-11, TU-10-13 and
TU-10-14 were drilled sub-parallel to bedding at 150 degrees azimuth. While
this orientation crosses the vein zone perpendicularly, management is
reviewing if this drilling azimuth may in fact be parallel to a mineralized
vein set. Holes TU-10-1, TU-10-9, TU-10-10 and TU-10-12 were drilled at 100
degrees in order to test intersection angles with different vein sets.
Induced polarization ("IP") geophysics was conducted over the
Ixtaca zone in 2010 as well as extensive soil sampling. The geophysical and
geochemical data indicate that coincident IP chargeability and gold in soil
highs, which may represent the vein zone, continues to the north and south
from the area drilled. These data also show that the vein zone, which has a
northeast orientation in the vicinity of the drilling, may change to a more
north-south orientation away from this discovery area. Further to the south
thick ash may be masking the geochemical soil response of the vein zone. To
the northeast the zone has been traced with strong coincident IP
chargeability and soil geochemistry for at least a kilometre beyond hole TU-10-6, the furthest northeast hole drilled to date.
The 2011 drill program will focus on testing the strike extent of the vein
zone both to the north/northeast and south/southwest. The 2011 drill program
is scheduled to commence in late January with two drill rigs, to be expanded
as necessary.
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Interval Gold Silver AUEQ AGEQ
Hole # From (m) To (m) (m) (g/t) (g/t) (g/t) (g/t)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
TU-10-7 37.05 53.83 16.78 0.48 24.4 1.0 48
---------------------------------------------------------------------------
including 43.35 47.55 4.20 0.91 30.5 1.5 76
---------------------------------------------------------------------------
TU-10-7 60.00 134.12 74.12 0.30 31.1 0.9 46
---------------------------------------------------------------------------
including 63.00 66.60 3.60 0.71 59.5 1.9 95
---------------------------------------------------------------------------
and 80.20 82.25 2.05 1.57 146.7 4.5 225
---------------------------------------------------------------------------
and 92.47 93.25 0.78 1.59 393.8 9.5 473
---------------------------------------------------------------------------
TU-10-7 139.20 162.25 23.05 0.16 15.1 0.5 23
---------------------------------------------------------------------------
TU-10-8 85.10 109.70 24.60 0.32 38.5 1.1 55
---------------------------------------------------------------------------
including 101.11 104.11 3.00 0.94 94.7 2.8 142
---------------------------------------------------------------------------
and 107.38 109.70 2.32 1.30 127.7 3.9 193
---------------------------------------------------------------------------
TU-10-8 117.32 135.87 18.55 0.22 24.3 0.7 35
---------------------------------------------------------------------------
including 123.00 126.45 3.45 0.91 90.7 2.7 136
---------------------------------------------------------------------------
TU-10-9 35.52 57.31 21.79 0.50 14.0 0.8 39
---------------------------------------------------------------------------
TU-10-9 271.28 281.20 9.92 0.46 16.2 0.8 39
---------------------------------------------------------------------------
TU-10-9 288.14 291.63 3.49 1.93 162.5 5.2 259
---------------------------------------------------------------------------
TU-10-9 297.94 299.13 1.19 1.07 57.3 2.2 111
---------------------------------------------------------------------------
TU-10-9 314.74 320.00 5.26 1.18 48.9 2.2 108
---------------------------------------------------------------------------
TU-10-9 333.00 341.56 8.56 0.61 10.5 0.8 41
---------------------------------------------------------------------------
TU-10-10 83.06 108.40 25.34 0.20 18.8 0.6 29
---------------------------------------------------------------------------
including 94.02 96.10 2.08 0.97 109.3 3.2 158
---------------------------------------------------------------------------
TU-10-10 180.50 188.50 8.00 0.22 33.5 0.9 45
---------------------------------------------------------------------------
TU-10-10 196.46 203.43 6.97 0.15 13.7 0.4 21
---------------------------------------------------------------------------
TU-10-10 223.49 225.29 1.80 0.26 31.1 0.9 44
---------------------------------------------------------------------------
TU-10-10 257.60 394.52 136.92 1.47 36.3 2.2 110
---------------------------------------------------------------------------
including 257.60 301.56 43.96 3.10 62.3 4.3 217
---------------------------------------------------------------------------
and 257.60 258.54 0.94 6.74 288.5 12.5 626
---------------------------------------------------------------------------
and 264.60 265.47 0.87 23.29 34.6 24.0 1199
---------------------------------------------------------------------------
and 271.72 273.43 1.71 13.11 55.6 14.2 711
---------------------------------------------------------------------------
and 278.53 286.05 7.52 7.76 216.5 12.1 605
---------------------------------------------------------------------------
and 335.79 341.78 5.99 3.07 163.9 6.3 317
---------------------------------------------------------------------------
and 347.90 352.26 4.36 2.83 119.8 5.2 261
---------------------------------------------------------------------------
TU-10-10 486.70 498.00 11.30 0.51 5.1 0.6 31
---------------------------------------------------------------------------
TU-10-11 122.70 124.20 1.50 0.65 229.8 5.2 262
---------------------------------------------------------------------------
TU-10-11 185.09 185.64 0.55 1.13 405.7 9.2 462
---------------------------------------------------------------------------
TU-10-11 204.98 408.63 203.65 1.01 44.3 1.9 95
---------------------------------------------------------------------------
including 255.42 338.50 83.08 1.83 77.7 3.4 169
---------------------------------------------------------------------------
and 207.82 208.40 0.58 1.27 274.5 6.8 338
---------------------------------------------------------------------------
and 223.05 224.50 1.45 3.02 284.7 8.7 436
---------------------------------------------------------------------------
and 241.03 242.94 1.91 6.72 551.5 17.8 888
---------------------------------------------------------------------------
and 258.68 260.45 1.77 48.98 1391.7 76.8 3841
---------------------------------------------------------------------------
and 279.23 280.63 1.40 7.82 560.3 19.0 951
---------------------------------------------------------------------------
and 292.93 296.34 3.41 2.91 133.9 5.6 279
---------------------------------------------------------------------------
and 303.09 306.90 3.81 2.79 113.1 5.1 253
---------------------------------------------------------------------------
and 333.85 336.36 2.51 6.30 237.1 11.0 552
---------------------------------------------------------------------------
TU-10-12 121.62 147.80 26.18 0.08 51.8 1.1 56
---------------------------------------------------------------------------
including 132.75 133.73 0.98 0.06 1050.0 21.1 1053
---------------------------------------------------------------------------
TU-10-12 172.93 338.00 165.07 0.83 50.8 1.8 92
---------------------------------------------------------------------------
including 229.44 296.20 66.76 1.65 111.4 3.9 194
---------------------------------------------------------------------------
and 230.32 275.33 45.01 2.37 157.4 5.5 276
---------------------------------------------------------------------------
and 234.13 236.96 2.83 10.52 685.8 24.2 1212
---------------------------------------------------------------------------
and 254.78 257.95 3.17 10.53 585.7 22.2 1112
---------------------------------------------------------------------------
TU-10-13 64.90 89.00 24.10 1.43 99.0 3.4 171
---------------------------------------------------------------------------
TU-10-13 193.65 201.33 7.68 0.21 19.2 0.6 30
---------------------------------------------------------------------------
TU-10-13 212.80 213.42 0.62 2.72 269.0 8.1 405
---------------------------------------------------------------------------
TU-10-13 289.50 289.92 0.42 6.67 304.0 12.8 638
---------------------------------------------------------------------------
TU-10-13 420.01 420.42 0.41 5.54 35.7 6.3 313
---------------------------------------------------------------------------
TU-10-13 426.62 427.70 1.08 1.69 37.2 2.4 122
---------------------------------------------------------------------------
TU-10-14 113.17 298.27 185.10 0.44 27.9 1.0 50
---------------------------------------------------------------------------
including 113.17 247.40 134.23 0.53 35.6 1.2 62
---------------------------------------------------------------------------
and 188.63 206.04 17.41 2.04 149.6 5.0 252
---------------------------------------------------------------------------
and 203.30 206.04 2.74 8.17 710.1 22.4 1119
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Morgan J. Poliquin, Ph. D., P. Eng., the
President and CEO of Almaden, and a qualified person ("QP") under
the meaning of National Instrument 43-101, reviewed the technical information
in this news release. The analyses reported were carried out at ALS Chemex
Laboratories of North Vancouver using industry standard aqua regia, ICP and
fire assay techniques. 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. Intervals that returned
assays below detection were assigned zero values. Metallurgical recoveries
and net smelter returns are assumed to be 100% for these calculations.
Registered geologist Jim Lunbeck, a QP under the meaning of NI 43-101, will
be the QP and project manager of Almaden's 2011 Ixtaca program.
About Almaden
Almaden is a well-financed (no debt,
approximately $C25 MM in working capital) 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. Currently six projects (Caldera, Caballo
Blanco, Tropico, Nicoamen River and Matehuapil and Merit), are optioned to
separate third parties who each have the right to acquire an interest in the
respective project from Almaden through making certain payments and
exploration expenditures. Four further projects are held in joint ventures.
Almaden also holds a 2% NSR interest in 11 projects. 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.
Statements contained in this news
release that are not historical facts are forward looking statements as that
term is defined in the private securities litigation reform act of 1995. Such
forward -looking statements are subject to risks and uncertainties which
could cause actual results to differ materially from estimated results. Such
risks and uncertainties are detailed in the Company's filing with the
Securities and Exchange Commission.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 40-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.
To view the map accompanying this press
release, please visit the following link: http://media3.marketwire.com/docs/almmap118.pdf
The Toronto Stock Exchange and NYSE AMEX
have not reviewed nor accepted responsibility for the adequacy or accuracy of
the contents of this news release which has been prepared by management.
|
|