TU-11-30 and 33 are on the same section, located roughly 80 meters to
the southwest from the previous south- western most holes reported. Hole
TU-11-33 was stopped prematurely owing to poor drilling conditions.
Hole TU-11-32 is located roughly 140 meters to the northeast beyond the
last drilling reported in this direction. It encountered the Ixtaca Zone
from the base of the overburden and is considered to have only cut a
portion of the zone. All three holes (TU-11-30, TU-11-33 and TU-11-32) hit
significant mineralization similar to that associated with the Ixtaca
Zone.
The Company is also pleased to report results from hole TU-11-34, an
infill hole drilled on the same section as the previously reported
TU-10-14 and designed to test the up dip potential of the Ixtaca zone. The
results of TU- 11-34 clearly show the vertical continuity of the zone.
Highlights from the current group of assays include the following
intercepts:
Hole TU-11-30: |
|
|
152.00 meters @ 0.91 g/t gold and 13.5 g/t silver (1.2 g/t
gold equivalent) |
|
including
|
8.00
meters @ 9.38 g/t gold and 2.6 g/t silver (9.4 g/t gold equivalent)
|
|
and
|
1.00
meters @ 66.80 g/t gold and 16.5 g/t silver (67.1 g/t gold
equivalent) |
|
|
Hole TU-11-33: |
|
|
323.25 meters @ 0.44 g/t gold and 14.5 g/t silver (0.70
g/t gold equivalent) |
|
including
|
15.85
meters @ 1.23 g/t gold and 99.9 g/t silver (3.2 g/t gold equivalent)
|
|
|
Hole TU-11-32: |
|
|
101.00 meters @ 0.34 g/t gold and 21.9 g/t silver (0.8 g/t
gold equivalent) |
|
Including
|
30.90
meters @ 0.87 g/t gold and 47.2 g/t silver (1.8 g/t gold equivalent)
|
|
and
|
2.50
meters @ 5.22 g/t gold and 132.0 g/t silver (7.9 g/t gold
equivalent) |
|
|
Hole TU-11-34: |
|
|
248.00 meters @ 0.67 g/t gold and 46.1 g/t silver (1.6 g/t
gold equivalent) |
|
Including
|
159.00
meters @ 0.89 g/t gold and 65.9 g/t silver (2.2 g/t gold equivalent)
|
|
and
|
23.72
meters @ 3.08 g/t gold and 194.8 g/t silver (7.0 g/t gold
equivalent) |
|
and
|
1.71
meters @ 19.61 g/t gold and 987.4 g/t silver (39.4 g/t gold
equivalent) |
J.D. Poliquin, Chairman of Almaden commented, "These new holes show the
Ixtaca zone to be continuing to the northwest and southwest with currently
undefined limits. The Ixtaca zone is a robust system of veining that
continues along strike with minor offsets. Drilling to date on the Ixtaca
zone also shows good continuity of mineralisation in both horizontal and
vertical dimensions. We are very pleased with these new results which
further expand the known strike and vertical extent of the Ixtaca zone of
veining. We now have three drills on site, two of which are currently
drilling the Ixtaca zone. The third drill will be used to test several
additional targets located outside of the Ixtaca zone and thought to have
the potential to host separate zones of veining." The Company anticipates
drilling operations will continue throughout 2011.
Please click on the following link to view a plan map
and relevant sections: http://media3.marketwire.com/docs/amm707i.pdf.
A table of significant intervals is below. They will be posted to the
Company's website (www.almadenminerals.com) along
with complete tables of assays.
Hole
# |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Ag (g/t) |
AuEq (g/t) |
AgEq (g/t) |
TU-11-30 |
60.00 |
212.00 |
152.00 |
0.91 |
13.6 |
1.2 |
59 |
including |
60.00 |
68.00 |
8.00 |
9.38 |
3.4 |
9.4 |
472 |
and |
64.00 |
65.00 |
1.00 |
66.80 |
18.4 |
67.2 |
3358 |
and |
79.00 |
212.00 |
133.00 |
0.47 |
15.3 |
0.8 |
39 |
and |
136.00 |
189.44 |
53.44 |
0.82 |
22.9 |
1.3 |
64 |
and |
166.00 |
180.08 |
14.08 |
1.14 |
48.2 |
2.1 |
105 |
and |
170.00 |
173.00 |
3.00 |
3.31 |
116.9 |
5.6 |
282 |
TU-11-32 |
53.00 |
154.00 |
101.00 |
0.34 |
21.9 |
0.8 |
39 |
including |
57.60 |
88.50 |
30.90 |
0.87 |
47.2 |
1.8 |
91 |
and |
86.00 |
88.50 |
2.50 |
5.22 |
132.0 |
7.9 |
393 |
TU-11-33 |
26.75 |
350.00 |
323.25 |
0.44 |
14.5 |
0.7 |
36 |
including |
26.75 |
105.50 |
78.75 |
0.53 |
9.8 |
0.7 |
36 |
and |
120.65 |
144.30 |
23.65 |
0.46 |
7.5 |
0.6 |
30 |
and |
169.23 |
203.50 |
34.27 |
0.39 |
12.1 |
0.6 |
32 |
and |
228.60 |
314.00 |
85.40 |
0.57 |
17.6 |
0.9 |
46 |
and |
328.80 |
344.65 |
15.85 |
1.23 |
99.9 |
3.2 |
161 |
and |
402.00 |
404.85 |
2.85 |
1.34 |
7.4 |
1.5 |
74 |
TU-11-34 |
26.00 |
274.80 |
248.80 |
0.67 |
46.1 |
1.6 |
80 |
Including |
26.00 |
185.45 |
159.45 |
0.89 |
65.9 |
2.2 |
110 |
and |
74.43 |
86.33 |
11.90 |
1.60 |
100.5 |
3.6 |
181 |
and |
85.15 |
86.33 |
1.18 |
10.01 |
469.9 |
19.4 |
970 |
and |
125.35 |
149.07 |
23.72 |
3.08 |
194.8 |
7.0 |
349 |
and |
146.79 |
148.50 |
1.71 |
19.61 |
987.4 |
39.4 |
1968 |
and |
197.51 |
198.50 |
0.99 |
15.15 |
3.6 |
15.2 |
761 |
and |
272.15 |
273.30 |
1.15 |
2.06 |
455.1 |
11.2 |
558 |
About the Ixtaca Property
The Ixtaca zone is a blind discovery made by the Company in 2010. The
zone of veining is thought to have a north-easterly trend. Holes to date
suggest that the zone is sub vertical with local variations. This
interpretation suggests that true widths are approximately 60% of
intersected widths. The drilling completed to date has traced
mineralisation over 550 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.
Registered professional geologist Jim Lunbeck, a qualified person
("QP") under the meaning of NI 43-101, is the QP and project manager of
Almaden's 2011 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 consists 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 (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,
Matehuapil, Merit and Yago), 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.