Almaden Infill Drilling on Main Zone, Hits 43.50 Meters of 3.16 G/T Au, 235.4 G/T Ag (7.9 G/T Aueq) at Ixtaca, Mexico
13 December 2013 - 8:00AM
Marketwired
Almaden Infill Drilling on Main Zone, Hits 43.50 Meters of 3.16 G/T
Au, 235.4 G/T Ag (7.9 G/T Aueq) at Ixtaca, Mexico
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 12, 2013) -
Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX:AMM)
(NYSEMKT:AAU) is pleased to announce the results from Almaden's
ongoing 2013 Ixtaca Zone drill program at the Company's 100% owned
Tuligtic project, Mexico. The infill program has been designed to
upgrade resources currently in the inferred category to the higher
confidence measured and indicated categories. The holes announced
today show the continuity and high grades of the Main and Northern
zones defined with previous drilling. Highlights from the holes
released today include the following intercepts (a more complete
list of intercepts is shown in the table below):
Hole TU-13-349 |
MAIN ZONE SECTION
10775 EAST, 330 Az, -80 dip |
97.00
meters @ 1.60 g/t gold and 115.4 g/t silver (3.9 g/t gold
equivalent) |
|
Including |
43.50 meters @
3.16 g/t gold and 235.4 g/t silver (7.9 g/t gold equivalent) |
|
And |
12.25 meters @
7.92 g/t gold and 435.8 g/t silver (16.6 g/t gold equivalent) |
|
And |
4.00 meters @
2.74 g/t gold and 426.5 g/t silver (11.3 g/t gold equivalent) |
|
Hole TU-13-368 |
MAIN ZONE SECTION
10825 EAST, 330 Az, -72 dip |
118.00 meters @ 0.60 g/t gold and 37.2 g/t silver (1.3 g/t gold
equivalent) |
|
Including |
49.30 meters @
0.78 g/t gold and 70.9 g/t silver (2.2 g/t gold equivalent) |
|
Hole TU-13-371 |
MAIN ZONE SECTION
10775 EAST, 150 Az, -50 dip |
26.75
meters @ 0.67 g/t gold and 8.1 g/t silver (0.8 g/t gold
equivalent) |
|
Including |
8.50 meters @
1.08 g/t gold and 9.9 g/t silver (1.3 g/t gold equivalent) |
1.50
meters @ 3.25 g/t gold and 573.4 g/t silver (14.7 g/t gold
equivalent) |
J.D. Poliquin, chairman of Almaden stated, "Today's holes once
again show the continuity of this part of the Main Zone and
highlights the high grades that core it. The infill drilling
program underway was designed to upgrade the confidence of our
resource base. It also provides an opportunity to remind our
shareholders that the Ixtaca zone of veining is cored by several
well defined and intensely mineralised high grade gold silver zones
that have good continuity along strike."
Below is a plan map and relevant sections which will be posted
to the Company's website (www.almadenminerals.com).
http://media3.marketwire.com/docs/m917518.pdf
About the Ixtaca Drilling Program and the Ixtaca Project
The 100% owned Ixtaca zone is a blind discovery made by the
Company in 2010 on claims staked by the Company. On January 31,
2013 the Company announced a maiden resource on the Ixtaca Zone.
Since that time drilling has been focused on expanding and
infilling the known resource base for a PEA. This program was
extended in 2013 in order to report a more robust resource for a
PEA to follow. The Company has selected Moose Mountain Technical
Services to lead a PEA on the Ixtaca deposit. Knight Piesold Ltd.
will provide certain engineering and environmental design inputs
for the PEA and have been retained to help the Company with long
lead item studies concerning environmental monitoring, assessment
and permitting matters. Apart from drilling, work underway
currently includes additional metallurgical studies, environmental
baseline monitoring such as flora and fauna studies, climate
monitoring, water quality sampling and surface water hydrology
monitoring, a geochemistry program, and scoping level engineering
studies. Once the results from this year's drill program have been
received in early 2014, a new geologic model and resource will be
reported. This anticipated updated resource will form the basis of
a PEA to follow. In 2014 the Company anticipates redirecting
drilling efforts to the exploration of high priority epithermal
targets outside of the Ixtaca zone but within the project
boundaries.
Hole # |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Ag (g/t) |
AuEq (g/t) |
AgEq (g/t) |
SECTION |
TU-13-344 |
168.00 |
176.00 |
8.00 |
0.17 |
3.6 |
0.2 |
12 |
10725E |
TU-13-344 |
183.80 |
233.50 |
49.70 |
0.36 |
9.0 |
0.5 |
27 |
including |
183.80 |
212.35 |
28.55 |
0.50 |
11.4 |
0.7 |
36 |
TU-13-349 |
139.50 |
236.50 |
97.00 |
1.60 |
115.4 |
3.9 |
195 |
10775E |
including |
165.50 |
209.00 |
43.50 |
3.16 |
235.4 |
7.9 |
394 |
including |
165.50 |
177.75 |
12.25 |
7.92 |
435.8 |
16.6 |
832 |
including |
196.50 |
200.50 |
4.00 |
2.74 |
426.5 |
11.3 |
563 |
including |
234.50 |
236.50 |
2.00 |
1.20 |
287.1 |
6.9 |
347 |
TU-13-349 |
247.50 |
259.69 |
12.19 |
0.27 |
11.2 |
0.5 |
25 |
TU-13-353 |
114.50 |
124.50 |
10.00 |
0.22 |
2.2 |
0.3 |
13 |
10775E |
TU-13-353 |
144.50 |
199.64 |
55.14 |
0.35 |
9.2 |
0.5 |
27 |
including |
192.10 |
195.30 |
3.20 |
1.31 |
42.3 |
2.2 |
108 |
TU-13-357 |
180.72 |
241.15 |
60.43 |
0.33 |
4.5 |
0.4 |
21 |
10775E |
including |
210.15 |
226.45 |
16.30 |
0.50 |
6.3 |
0.6 |
31 |
TU-13-357 |
263.00 |
268.50 |
5.50 |
0.51 |
4.5 |
0.6 |
30 |
TU-13-360 |
76.25 |
103.02 |
26.77 |
0.45 |
8.6 |
0.6 |
31 |
10825E |
TU-13-360 |
113.00 |
174.50 |
61.50 |
0.27 |
18.8 |
0.6 |
32 |
including |
140.60 |
145.40 |
4.80 |
0.66 |
69.9 |
2.1 |
103 |
including |
157.50 |
171.50 |
14.00 |
0.46 |
35.5 |
1.2 |
58 |
including |
158.00 |
160.00 |
2.00 |
0.35 |
112.0 |
2.6 |
129 |
TU-13-360 |
189.00 |
207.50 |
18.50 |
0.16 |
41.1 |
1.0 |
49 |
including |
203.00 |
205.00 |
2.00 |
0.44 |
170.7 |
3.9 |
193 |
TU-13-360 |
214.00 |
237.50 |
23.50 |
0.13 |
54.2 |
1.2 |
61 |
including |
222.00 |
227.00 |
5.00 |
0.31 |
157.8 |
3.5 |
173 |
TU-13-360 |
244.50 |
258.50 |
14.00 |
0.08 |
31.4 |
0.7 |
35 |
including |
244.50 |
246.40 |
1.90 |
0.08 |
170.6 |
3.5 |
174 |
TU-13-361 |
161.50 |
165.40 |
3.90 |
0.41 |
0.3 |
0.4 |
21 |
10775E |
TU-13-361 |
203.75 |
227.95 |
24.20 |
0.18 |
5.0 |
0.3 |
14 |
TU-13-364 |
55.50 |
93.50 |
38.00 |
0.35 |
11.0 |
0.6 |
29 |
10825E |
TU-13-364 |
118.40 |
154.50 |
36.10 |
0.27 |
13.3 |
0.5 |
27 |
TU-13-364 |
164.00 |
182.00 |
18.00 |
0.07 |
21.1 |
0.5 |
24 |
TU-13-364 |
195.90 |
252.37 |
56.47 |
0.14 |
50.6 |
1.1 |
57 |
including |
195.90 |
198.50 |
2.60 |
0.29 |
261.4 |
5.5 |
276 |
including |
203.30 |
207.50 |
4.20 |
0.37 |
127.7 |
2.9 |
146 |
including |
248.80 |
252.37 |
3.57 |
0.31 |
229.5 |
4.9 |
245 |
TU-13-367 |
57.50 |
97.50 |
40.00 |
0.41 |
12.0 |
0.6 |
32 |
10825E |
including |
75.50 |
92.00 |
16.50 |
0.55 |
23.6 |
1.0 |
51 |
including |
75.50 |
80.50 |
5.00 |
0.86 |
11.1 |
1.1 |
54 |
TU-13-367 |
186.00 |
188.50 |
2.50 |
0.14 |
20.8 |
0.6 |
28 |
TU-13-367 |
296.70 |
303.10 |
6.40 |
0.69 |
33.4 |
1.4 |
68 |
including |
300.80 |
303.10 |
2.30 |
1.54 |
74.4 |
3.0 |
151 |
TU-13-368 |
145.00 |
263.00 |
118.00 |
0.60 |
37.2 |
1.3 |
67 |
10825E |
including |
208.50 |
257.80 |
49.30 |
0.78 |
70.9 |
2.2 |
110 |
including |
221.90 |
228.30 |
6.40 |
1.04 |
98.9 |
3.0 |
151 |
including |
237.00 |
245.50 |
8.50 |
0.78 |
110.2 |
3.0 |
149 |
TU-13-368 |
285.10 |
316.75 |
31.65 |
0.67 |
46.2 |
1.6 |
80 |
including |
286.10 |
292.50 |
6.40 |
1.31 |
131.5 |
3.9 |
197 |
TU-13-371 |
92.00 |
118.75 |
26.75 |
0.67 |
8.1 |
0.8 |
42 |
10775E |
including |
99.00 |
107.50 |
8.50 |
1.08 |
9.9 |
1.3 |
64 |
TU-13-371 |
219.00 |
253.00 |
34.00 |
0.29 |
40.8 |
1.1 |
55 |
including |
241.30 |
249.50 |
8.20 |
0.86 |
142.8 |
3.7 |
186 |
including |
242.30 |
243.80 |
1.50 |
3.25 |
573.4 |
14.7 |
736 |
TU-13-371 |
265.50 |
272.00 |
6.50 |
0.62 |
69.3 |
2.0 |
100 |
TU-13-371 |
343.00 |
346.86 |
3.86 |
0.41 |
294.2 |
6.3 |
315 |
TU-13-372 |
162.00 |
230.00 |
68.00 |
0.33 |
3.5 |
0.4 |
20 |
10825E |
TU-13-372 |
237.00 |
283.00 |
46.00 |
0.28 |
6.9 |
0.4 |
21 |
including |
252.00 |
260.00 |
8.00 |
0.52 |
14.1 |
0.8 |
40 |
TU-13-374 |
69.25 |
71.45 |
2.20 |
0.02 |
12.0 |
0.3 |
13 |
11350E |
TU-13-377 |
166.00 |
172.00 |
6.00 |
0.06 |
30.4 |
0.7 |
33 |
11350E |
TU-13-377 |
287.00 |
311.00 |
24.00 |
0.03 |
18.2 |
0.4 |
20 |
including |
290.50 |
292.00 |
1.50 |
0.03 |
74.7 |
1.5 |
76 |
including |
294.00 |
296.05 |
2.05 |
0.04 |
60.3 |
1.2 |
62 |
The Ixtaca deposit and any potential mining operation would be
located in an area previously logged or cleared with negligible to
no current land usage. The Company currently employs roughly 70
people in its drilling program who live local to the Ixtaca
deposit. Local employees make up virtually all the drilling staff,
who have been trained on the job to operate the Company's wholly
owned drills. The Company has implemented a comprehensive science
based and objective community relations and education program for
employees and all local stakeholders to transparently explain the
exploration program underway as well as the potential impacts and
benefits of any possible future mining operation at Ixtaca. The
Company regards the local inhabitants to be major stakeholders in
the Ixtaca deposit's future along with the Company's shareholders.
Every effort is being made to create an open and clear dialogue
with our stakeholders to ensure that any possible development
scenarios that could evolve from the anticipated PEA are properly
understood and communicated throughout the course of the Company's
exploration and development program. The Company invites all
interested parties to visit www.almadenminerals.com to find out
more about our community development, education and outreach
programs.
Technical Details of the Ixtaca Drilling Program
The Main Ixtaca and Ixtaca North Zones of veining are
interpreted 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. The Chemalaco (Northeast
Extension) Zone strikes roughly north-south (340 azimuth) and dips
at 55 degrees to the west. This interpretation suggests that true
widths range from approximately 82% of intersected widths for a -70
degree hole to 99% of intersected widths for a -40 degree hole.
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 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.
Neither the Toronto Stock Exchange (TSX) nor the NYSEMKT
have reviewed or accepted responsibility for the adequacy or
accuracy of the contents of this news release which has been
prepared by management.. 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.
Almaden Minerals Ltd.Morgan J. PoliquinPresident, CEO and
Director604.689.7644604.689.7645www.almadenminerals.com
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