Ed Monton
21 years ago
ALMADEN MINERALS LTD.
TSX SYMBOL: AMM
JANUARY 7, 2004 - 14:05 ET
Almaden Minerals Ltd.: Discovery and Acquisition of New
Gold Projects, in B.C., Canada
VANCOUVER, BRITISH COLUMBIA--Regional exploration work over the
last two years in southwest British Columbia has identified three
significant new low-sulphidation epithermal gold-silver vein
systems. The area where the three prospects are located was
recognized during an initial reconnaissance program in 2001. Two
of the three properties were identified and acquired in a 2003
field program. A 100% interest was acquired in all three projects
by staking. All three prospects, known as the PV, NIC and SAM are
accessible from nearby towns with excellent infrastructure, yet
they represent new discoveries as there are no previously
documented mineral occurrences or work histories in the area.
The initial area discovered in 2001 is the 1,650 hectare PV
property which covers an area of quartz vein float occurrences.
In 2001 and 2002 sampling of banded quartz-adularia vein and vein
breccia in float returned values up to 43.34 g/t Au with
anomalous silver (Ag), arsenic (As), antimony (Sb), and mercury
(Hg). 117 rock samples of vein and mineralized float taken in
2001 and 2002 ranged from less than 0.5 g/t Au to 43.34 g/t Au
and averaged 0.98 g/t Au. In 2003 a further area of vein float
was discovered from which 15 analyses from fifteen samples of
vein float ranged from 0.12 g/t Au to 3.95 g/t Au. A preliminary
five line induced polarization (IP) program was carried in 2003
and identified several prominent linear high resistivity features
thought to represent quartz veining in the area of anomalous vein
float.
The 300 hectare NIC property was staked in 2003 and covers an
area of mineralized quartz vein occurrences. A total of 40
reconnaissance grab and chip samples collected from float and
outcrop have returned gold analyses averaging 1.63 g/t Au. These
samples include 20 samples with gold values ranging from 0.10 g/t
Au to 23.60 g/t Au and from 1 g/t Ag to 180 g/t Ag. An
outcropping quartz vein and breccia system was identified. Ten
channel samples were taken at various intervals along the across
the strike of the vein system which is exposed in outcrop over a
20 meter strike length. These results include 6.15 g/t over 0.5
meters, 3.72 g/t over 0.7 meters and 2.70 g/t over 1.4 meters.
The 1,075 hectare SAM property was also staked in 2003. Twenty
two reconnaissance samples taken from both float and outcrop have
returned gold analyses averaging 0.82 g/t gold. These samples
include 13 gold values that range from 0.19 g/t Au to 8.68 g/t
Au. An outcropping vein system has been identified on the SAM
property as well. A six meter wide zone of veining, and
brecciation in an altered host rock has returned a weighted
average value from three samples of 0.47 g/t Au.
The work carried out on all three properties has resulted in the
discovery of previously unknown epithermal quartz vein systems.
The anomalous gold values are generally associated with elevated
As, Sb, Hg and high Ag values. Initial fluid inclusion studies
and alteration mineralogic and petrographic studies suggest that
there has been very little erosion of the vein systems. This data
compares well with the geochemistry which also suggests shallow
erosion. The initial sampling is very encouraging and has
resulted in the definition of several gold bearing vein systems.
A work program for 2004 is currently being planned to better
define targets for drilling.
Edward Balon, P.Geo. was the qualified person, under the meaning
of National Instrument 43-101, supervising work on these
projects. Analyses were carried out by Acme Analytical
Laboratories of Vancouver.
Almaden currently has ten active joint ventures covering 12
properties, including seven properties in which partners are
spending to earn an interest in the project and a regional
exploration program with partner BHP Billiton underway to explore
for copper-gold deposits in Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
Morgan J. Poliquin, M.Sc., P.Eng., Director
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.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Almaden Minerals Ltd.
Morgan J. Poliquin, M.SC., P.Eng.
Director
(604) 689-7644
(604) 689-7645 (FAX)
Website: www.almadenminerals.com
The Toronto Stock Exchange has not reviewed nor accepted
responsibility for the adequacy or accuracy of the contents of
this news release which has been prepared by management.
Ed Monton
21 years ago
Almaden intersects high grade gold
ALMADEN MINERALS LTD.
TSX SYMBOL: AMM
DECEMBER 23, 2003 - 16:58 ET
Almaden Minerals Ltd.: Drilling Intersects High-Grade
Gold at the Siwash Project, B.C.
VANCOUVER, BRITISH COLUMBIA--In September and October 2003 a
30-hole, 6570-meter diamond drill program was carried out to test
the continuity of mineralisation at the company's wholly owned
Siwash Gold Project. The deposit is located roughly two
kilometres (km) south of Highway 97C and 45 km southeast of
Merritt in the Okanagan area of Southern British Columbia. The
mine is known for its very high gold grades and in the 1990s
51,750 ounces of gold were produced from 18,400 tons of quartz
vein ore extracted from the B vein system in open pit and
underground operations. The Siwash Project presently has an
indicated resource of 87,700 oz (2,727,400 grams) gold in 61,300
tons and a probable reserve of 45,200 oz (1,405,700 grams) gold
in 44,500 tons for a total of 142,000 ounces in 123,000 tons as
calculated in 2000. This resource is developed on the WD and B
vein systems and includes the Deep B shoot on the B vein system
which is located immediately below the existing mine workings and
can be accessed by extending the existing decline approximately
600 metres (m). It contains an inferred resource of 35,600 oz Au
in 12,200 tons grading 2.925 oz/t.
Preliminary results have been returned from the lab and a summary
of drill intersections returning gold grades greater than 10
grams per tonne (0.29 ounces per ton) are listed below. True
widths are calculated to a minimum width of 0.5 meters based on
core to vein angles and weighted according to width and specific
gravity.
True
Sample Averaged Wid- Grades over
Interval Interval th Average True Width
Vein -----------------------------------------------------------
Hole Sys- From To From To met- Au Au Ag Ag
Number tem (m) (m) (m) (m) ers (g/t)(oz/t) (g/t) (oz/t)
-----------------------------------------------------------------------
SND03337 WD 253.30 253.60 253.12 254.30 1.00 28.25 0.824 125.07 3.648
-----------------------------------------------------------------------
SND03338 B 32.15 32.45 31.89 32.45 0.50 16.96 0.495 10.10 0.295
-----------------------------------------------------------------------
SND03339 B 44.20 44.70 44.20 44.71 0.50 22.60 0.659 31.58 0.921
-----------------------------------------------------------------------
SND03339 B 136.60 136.90 136.36 136.90 0.50 11.90 0.347 4.13 0.121
-----------------------------------------------------------------------
SND03340 B 50.10 50.40 49.89 50.40 0.50 24.91 0.726 7.12 0.208
-----------------------------------------------------------------------
SND03340 WD 267.92 268.48 267.92 269.07 1.00 11.47 0.335 35.12 1.024
-----------------------------------------------------------------------
SND03341 B 51.05 51.48 50.97 51.48 0.50 78.56 2.291 38.83 1.133
-----------------------------------------------------------------------
SND03343 B 95.60 96.70 95.60 96.75 1.00 33.18 0.968 73.10 2.132
-----------------------------------------------------------------------
SND03343 B 54.65 55.00 54.65 55.16 0.50 18.23 0.532 38.91 1.135
-----------------------------------------------------------------------
SND03346 B 36.82 37.12 36.61 37.12 0.50 23.81 0.694 54.80 1.598
-----------------------------------------------------------------------
SND03346 WD 152.75 153.80 152.75 153.91 1.00 15.90 0.464 87.07 2.539
-----------------------------------------------------------------------
SND03347 WD 202.88 203.64 202.88 204.10 1.00 27.79 0.810 49.97 1.458
-----------------------------------------------------------------------
SND03348 WD 139.23 139.55 139.23 140.15 0.50 35.09 1.023 52.76 1.539
-----------------------------------------------------------------------
SND03354 WD 274.48 274.82 274.30 274.82 0.50 219.96 6.415 354.42 10.337
-----------------------------------------------------------------------
SND03357 B 43.50 43.80 43.29 43.80 0.50 29.84 0.870 11.39 0.332
-----------------------------------------------------------------------
SND03358 WD 337.38 337.70 336.29 337.71 1.20 11.88 0.346 36.64 1.069
-----------------------------------------------------------------------
SND03359 B 43.40 43.90 43.30 43.90 0.60 19.11 0.558 8.15 0.238
-----------------------------------------------------------------------
SND03361 WD 119.50 119.80 119.28 119.80 0.50 11.06 0.323 7.77 0.227
-----------------------------------------------------------------------
SND03364 WD 196.70 197.70 196.57 197.70 0.80 16.14 0.471 44.40 1.295
-----------------------------------------------------------------------
SND03365 WD 172.20 173.05 171.64 173.10 1.10 10.09 0.294 21.73 0.634
-----------------------------------------------------------------------
Note: g/t signifies grams per tonne ; oz/t signifies ounces per ton
-------------------------------
Four vein systems have been identified and drilled in the Siwash
area: the B system with a strike length of 900 m has been tested
down dip to 320 m; the WD zone with a strike length of 650 m has
been tested to 370 m down dip; the GCW zone with a strike length
of 300 m has been tested to 130 m down dip and the Bullion Creek
(BC) zone which has been tested with two holes to a depth of 75
m.
The 2003 program extended the known perimeter of the WD zone in
50-meter step-outs from the existing drill grid both along strike
and down dip. Six fill-in holes were drilled between existing
50-meter fences at the end of the program to confirm continuity
of the structure and grade. Except for one hole that intersected
an andesite dyke at the projected WD zone location, all holes
returned good vein intersections. A new resource estimate
incorporating results from the 2002 and 2003 drill programs, and
complying with National Instrument 43-101 requirements, will be
calculated by Giroux Consultants Ltd..
In 2001 a possible extension to the B and WD vein systems was
found by trenching roughly two km along strike to the east, on
the other side of an area of overburden cover. Grab samples of
the vein material taken at surface returned averaged analyses of
0.922 oz/ton (31.6 grams/tonne) gold and 3.04 oz/ton silver
(104.4 grams/tonne). A 0.5 by 0.5 m panel sample of the same vein
taken in the wall of the trench returned 0.635 oz/ton gold (21.8
grams/tonne) and 0.96 oz/ton (32.9 grams/tonne) silver. This
discovery was extremely significant as it adds two kilometres of
prospective, unexplored strike length to the high-grade vein
system.
Knight Piesold Ltd. has been contracted to review options for
tailings and mill sites in the Siwash area. Knight Piesold Ltd.
is also carrying out dilution studies to determine pump rates and
a time frame for dewatering the Siwash open pit and underground
workings.
The qualified person and supervisor for the 2003 exploration
drill program is Wojtek Jakubowski, P. Geo. All samples were
analyzed at Acme Analytical Labs in Vancouver using wet
geochemical, fire assay and metallics techniques. Duplicate and
blank samples were included in the sample shipments sent to Acme
and confirmed procedural quality. Check assays were carried out
by ALS Chemex Labs in Vancouver.
ON BEHALF OF THE BOARD OF DIRECTORS
J. Duane Poliquin, President
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.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Almaden Minerals Ltd.
J. Duane Poliquin
President
(604) 689-7644
(604) 689-7645 (FAX)
Website: www.almadenminerals.com
The Toronto Stock Exchange has not reviewed nor accepted
responsibility for the adequacy or accuracy of the contents of
this news release which has been prepared by management.
Ed Monton
21 years ago
ALMADEN MINERALS LTD.
TSX SYMBOL: AMM
JULY 28, 2003 - 13:49 ET
Almaden Minerals Ltd.: Progress Report on the Galeana
Project, Mexico
VANCOUVER, BRITISH COLUMBIA--The Galeana gold-silver property in
Chihuahua State, Mexico property is optioned to Grid Capital
Corp. (Grid) who can earn a 60% interest by spending US$2,000,000
and issuing 400,000 shares to Almaden. Grid has provided Almaden
with the results of a program of geological mapping, rock and
soil sampling and induced polarization (I.P.) surveying carried
out in April, 2003 on the Galeana property. The Galeana property
hosts three major vein systems, the San Miguel-Ahumada-Estrella
de Oro, the Falda Norde and the San Geronimo. All have had
limited historic production prior to the Mexican revolution when
all mining activity ceased.
Grid has reported the results of this program which was carried
out on the Miguel Ahumada and Faldo Norte Zones of the property.
At the Miguel Ahumada zone, Grid has reported that fault breccia,
epithermal quartz veining and quartz vein breccia, has been
traced for over 500 meters. The zone, where exposed by a number
of open cuts, pits and adits, varies from 1 meter to more than 3
meters in thickness. Four grab samples of banded quartz vein
clasts from a breccia taken by Grid in the Ahumada adit ranged
from 1.79 grams/tonne (g/t) gold (Au) and 11.5 g/t silver (Ag) to
15.75 g/t Au and 549 g/t Ag. Four surface samples of quartz float
taken by Grid 150 meters to the northeast of the eastern-most
opening, returned values of up to 9.3 g/t Au and 181 g/t Ag. Two
anomalous soil samples grading 299 ppb Au and 214 ppb Ag, taken
150 meters to the north of the above-mentioned high-grade quartz
float, indicate the presence of an undiscovered auriferous vein
and represent a high priority target for follow-up work. Along
strike to the southwest of the Ahumada zone, results of soil
sampling and quartz vein float sampling has extended the zone 200
meters and indicates the zone is open to the southwest. I.P.
surveys carried out over the four lines crossing the Ahumada
trend suggest that several parallel veins may be present. One
kilometre north of the Ahumada zone, the Falda Norde structure
sampling by Grid returned anomalous (7100 ppb) to highly
anomalous (greater than 1 g/t) gold values from rock and soils
over a 800 meter strike length. The best results were returned
from a chip sample taken in the Falda Norde adit across a zone of
banded limonitic epithermal veining, vein breccia and clay gouge.
The chip sampling assayed an average of 9.18 g/t Au and 46.6 g/t
Ag over 0.85 metres.
Mapping of alteration mineralogy in the Galeana area,
petrographic analysis of quartz vein textures, fluid inclusion
microthermometry and the low silver to gold ratios of veins
sampled, all support the interpretation that the exposed veins
represent a high level within the original hydrothermal system.
This interpretation coupled with the identification of high gold
grades in fragments found in breccia bodies identified on the
property, suggest that the potential to identify high grade gold
and silver ore shoots in the veins may increase with depth.
Grid has also reported that it plans to carry out a drill program
to test the most promising targets. Exploration carried out on
the Galeana property by Grid was under the direction of H. Leo
King, P.Geo., a qualified person within the meaning of National
Instrument 43-101. Mr. King has reviewed the exploration results
contained in this news release. Samples were sent to ALS Chemex
Labs in North Vancouver for analysis.
Almaden currently has eight active joint venture projects which
include a regional exploration program with partner BHP Billiton
underway to explore for copper-gold deposits in Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
Morgan J. Poliquin, M.Sc., P.Eng., Director
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.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Almaden Minerals Ltd.
Morgan J. Poliquin, M.Sc., P.Eng.
Director
(604) 689-7644
Website: www.almadenminerals.com
The Toronto Stock Exchange has not reviewed nor accepted
responsibility for the adequacy or accuracy of the contents of
this news release which has been prepared by management.
echarters
21 years ago
KGI is the old Macassa mine with more strike on each side, and expanded aggressive attitude towards exploration and lots of high grade gold. The thing they have to avoid is mining troubles, so they have to get innovative. So far the ore is rolling in. Lots of mining left to do in that country.
Almaden has a long (30 year) track record of finding and spinning off. For them, development was too high ri$k. They are not specialists in that. Today in Mexico, maybe development is favoured -- the risk taker may get a bigger reward if he grabs a shovel.. (Wildcat sees opportunity there in placer, small scale heap leach..not much differen*ce), but they are continuing in the established vein. Solid base and good prospects.
Holmer has aggressive experienced management. They have the one project in Cuba that would be close to production now and the loan facility for that. They spun off the Timmins property near Bristol, but we have confidence in their abilities (former Renabie men) and outlook. They need to attract explo capital. We would do JV's with Holmer on projects if things could be worked out.
I am looking at much more than I am talking about, I admit. I pan the odd thing. I am not crazy about stocks with too high a price and not a "let's go" attitude with the drill, or the shovel.. that is my philospophy.. why? well, greater share apprecation as you get nearer the shovel. CKG does not excite as much as MVG does for this reason, and their price is comparable.. I like CDY's, PEX's chances, and others too .. obviously the little guys give the greatest chances..
I am looking at a lot of diamond compnies too... Obviously they have market momentum and more importantly staggering exploration momentum.. am I too effusive? No! Time will bear me out.. there is a LOT going on.. the biggest area play in history.
I admit that I have not waxed eloquent. In short I am a curmudgeon of the first order. It is easy to get carried away. I like gold however, and most gold companies that are half way serious.
I will admit too that there is way lots of reading between the line with my stuff, but I have two problems here. Investment advice I do not give for legal reasons.. I know about three OSC cases that took out services that I knew personally. I am not taking out a license to chat about stock with people or share news and views. The point of my email list was to get chat going.. this is few and far, but it may work in time.. Second point is we get what we pay for.. I am getting too, and I appreciate that.. no one lives in a vacuum, privy to whispers from Mount Olympus about the future.. :)
EC<:-}
Ed Monton
21 years ago
Welcome to the thread Eric!
GRID CAPITAL CORPORATION
TSX VENTURE SYMBOL: GID
JUNE 6, 2003 - 09:30 ET
Grid Identifies New Gold Targets in the Sierra Madre
Gold Belt in Mexico
VANCOUVER, BRITISH COLUMBIA--Grid Capital Corporation (the
"Company") is pleased to announce the results of a program of
geological mapping, rock and soil sampling and induced
polarization (I.P.) surveying carried out in April, 2003 on the
Galeana gold-silver property in Chihuahua State, Mexico. The
Company has an agreement with Almaden Minerals Ltd. whereby its
can earn up to a 60% interest in the property.
The Galeana property hosts three major vein systems, the San
Miguel-Ahumada-Estrella de Oro, the Falda Norde and the San
Geronimo. All have had limited historic production prior to the
Mexican revolution when all mining activity ceased.
The Miguel Ahumada zone, consisting of fault breccia, epithermal
quartz veining and quartz vein breccia, has been traced for over
500 meters. The zone, where exposed by a number of open cuts,
pits and adits, varies from 1 meter to more than 3 meters in
thickness. Four grab samples of breccia quartz clastic material
found in the Ahumada adit ranged from 1.79 grams/tonne (g/t) gold
(Au) and 11.5 g/t silver (Ag) to 15.75 g/t Au and 549 g/t Ag.
Four surface samples of quartz float at the east end of the
Ahumada structure, 150 meters to the northeast of the
eastern-most opening, returned values of up to 9.3 g/t Au and 181
g/t Ag. As well, soil sampling was completed along four lines,
spaced 200 meters apart crossing the Ahumada structure. Two
anomalous soil samples grading 299 ppb Au and 214 ppb Ag, taken
150 meters to the north of the above-mentioned high-grade quartz
float, indicate the presence of an undiscovered auriferous vein
and represents a high priority target for follow-up work. Along
strike to the southwest of the Ahumada zone, results of soil
sampling and quartz vein float sampling has extended the zone 200
meters and indicates the zone is open to the southwest. I.P.
surveys carried out over the four lines crossing the Ahumada
trend suggest that several parallel veins may be present.
One kilometre north of the Ahumada zone, the Falda Norde
structure returned anomalous (7100 ppb) to highly anomalous
(greater than 1 g/t) gold values from rock and soils over a 800
meter strike length. The best results were returned from a chip
sample taken in the Falda Norde adit across a zone of banded
limonitic epithermal veining, vein breccia and clay gouge. The
chip sampling assayed an average of 9.18 g/t Au and 46.6 g/t Ag
over 0.85 metres.
Approximately 400 meters south of the Falda Norde adit, along the
same structural trend, 20 samples were taken from old workings in
the Rosario adit and from float located over 500 meters of
strike. Nine samples returned values of greater than 100 ppb Au.
The highest gold value came from the float boulder of quartz vein
breccia that assayed 14.1 g/t Au and 8.9 g/t Ag. Two anomalous
gold in soil values, 200 meters east of the Falda Norde trend,
indicate the presence of a gold-bearing structure that warrants
follow-up work. In addition, I.P. survey results from 2 lines
spaced 200 meters apart, crossing the Falda Norde structure,
indicate other parallel vein structures may be present.
The San Geronimo structure, located about 1 kilometre southeast
of the Ahumada trend, was the centre of significant historic gold
production. Three of the five samples taken from well-mineralized
but generally narrow structures returned values up to 7.4 g/t Au
and 54.3 g/t Ag.
The combined results of soil and rock sampling and I.P. surveys
have identified a number of targets that the Company believes
warrant drill testing. The Company plans to carry out a drill
program to test the most promising targets.
ON BEHALF OF THE BOARD OF DIRECTORS
J. E. Charlesworth, President
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Grid Capital Corporation
J. E. Charlesworth
President
(604) 922-9264
(604) 922-9182 (FAX)
The TSX Venture Exchange has neither approved nor disapproved the
contents of this press release.
Ed Monton
22 years ago
Almaden news:
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: ALMADEN MINERALS LTD.
TSX SYMBOL: AMM
MAY 8, 2003 - 13:46 EST
Almaden Minerals Ltd.: Three New Gold Projects Acquired
in Mexico
VANCOUVER, BRITISH COLUMBIA--Almaden Minerals Ltd. (Almaden) is
pleased to announce that it has acquired three new gold projects
in Mexico. Two of the properties are located very close to one
another in Oaxaca State and the third is located in Nayarit
State. The Oaxaca Properties, called the Fuego and Cerro Colorado
were recognised during a helicopter reconnaissance program for
copper porphyry systems that is a partnership with BHP Billiton.
A 100% interest was acquired in both the Fuego and Cerro Colorado
properties by staking. The Fuego and Cerro Colorado projects have
been offered to BHP Billiton under terms of the joint venture
agreement.
The Fuego property is a high-level, classic quartz-adularia
epithermal vein system. The textures identified, including fine
grained silica and electrum banding and bladed calcite, are
typical of that associated with bonanza grade epithermal vein
systems worldwide. Some very limited surficial historic workings
exist on one of several banded veins identified within a more
than 20 meter wide zone of veining and silicification in volcanic
rocks. Banded quartz-adularia veins within the vein system
generally dip shallowly and are up to 5 meters wide. In the
initial work the parallel vein system has been traced nearly a
kilometre along strike. To date 16 grab and chip rock samples
have been taken on the property of both banded quartz adularia
vein material and silicified volcanic wall rock. Samples of
banded quartz vein material averaged 7.7 grams per tonne (g/t)
gold and 300 g/t Ag, with a high of 29.9 g/t gold and 764 g/t Ag.
Samples from silicified volcanic rock within the zone of veining
averaged 1 g/t gold and 162 g/t Ag with a high of 2.4 g/t gold
and 953 g/t Ag. Visible gold was recognised in several hand
specimens collected on the property which were not sent for
analysis. The Fuego property has excellent infrastructure and
represents an entirely unexplored epithermal vein system.
Geologic mapping, geochemical rock and soil sampling and
geophysical surveys are planned to define the extent of the vein
system and the distribution of gold and silver. Samples have been
selected for fluid inclusion analysis which will be carried out
to confirm the field observation that the veins appear to be
shallowly eroded.
The Cerro Colorado property represents a new discovery as the
colourful hydrothermal alteration was recognised by the geologic
crew passing by in a helicopter. The property covers an area of
intense hydrothermal alteration developed in volcanic rocks
intruded by quartz-feldspar porphyritic rocks. Highly weathered
and oxidised silicified and acid leached porphyritic rocks occur
over a more than 2 kilometer by 2 kilometer area. These rocks
display classic "vuggy silica" textures. This texture is common
in rocks that have been exposed to highly acidic hydrothermal
fluids and is indicative of a high-sulphidation epithermal
system. This style of mineralisation hosts major gold silver
deposits worldwide, including the giant Peirina and Yanacocha
gold deposits in Peru. The areas of vuggy silica are intimately
associated with broad areas of intensely argillic altered host
rocks. Initial samples from outcropping vuggy silica and argillic
alteration have returned only anomalous values of gold, silver,
arsenic and antimony, however this is not uncommon in surface
exposures of weathered gold-rich vuggy silica bodies elsewhere.
Geologic mapping, geochemical rock and soil sampling and
geophysical surveys are planned to define the extent of the vuggy
silica bodies and the distribution of gold and silver.
The San Pablo property, Nayarit State was recognised during
reconnaissance work in late 2002. It is covered by a small claim
to which Almaden has negotiated the right to acquire a 100%
interest. The terms of the deal require Almaden to pay the owners
US$100,000 over a period of six years, which includes a final
payment of US$75,000 in the sixth and final year. The property
has had no past production, however the owners retain the right
to mine the property at less than 150 tonnes per day. Almaden can
elect to buy this right at any time for a one time payment of
US$1.5 M. Initial sampling by Almaden has returned anomalous
values on several different portions of a prominent ridge forming
epithermal vein system. This sampling includes a 21.8 meter wide
series of continuous chip samples across the exposed width of a
quartz vein system that returned an average grade of 3.0 g/t Au
and 57 g/t Ag. At one end of this series of samples 7.4 meters
averaged 7.4 g/t Au and 62 g/t Ag. The vein system occurs within
a large area of hydrothermal alteration including widespread
silicification developed in a welded tuff volcanic unit.
Almaden currently has eight active joint ventures, including six
in which other companies are carrying all costs and making
significant exploration expenditures to earn an interest in the
projects. Almaden's joint venture with BHP Billiton to explore
regionally for copper-gold deposits in Mexico is ongoing with the
evaluation of many projects identified in a preliminary program.
Almaden will continue with its successful business model of
identifying exciting new projects through early stage grass roots
exploration and managing risk by forming joint ventures in which
partner companies explore and develop our projects in return for
the right to earn an interest in them.
ON BEHALF OF THE BOARD OF DIRECTORS
Morgan J. Poliquin, M.Sc., P.Eng., Director
The Toronto Stock Exchange has not reviewed nor accepted
responsibility for the adequacy or accuracy of the contents of
this news release which has been prepared by management.
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.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Almaden Minerals Ltd.
Morgan J. Poliquin
Director
(604) 689-7644
(604) 689-7645 (FAX)
Website: www.almadenminerals.com
Ed Monton
22 years ago
Exploration update:
: ALMADEN MINERALS LTD.
TSX SYMBOL: AMM
APRIL 23, 2003 - 15:05 EST
Almaden Minerals Ltd.: Update of Exploration Activities
VANCOUVER, BRITISH COLUMBIA--Several significant work programs
have been completed and additional work programs are planned on
Almaden Minerals Ltd.'s (Almaden) projects. Almaden currently has
eight active joint venture projects which include a regional
exploration program with partner BHP Billiton underway to explore
for copper-gold deposits in Mexico.
ATW Diamond Project, NWT, Canada
A till sampling program has been completed on the ATW property.
Seventy-seven holes were drilled to recover samples of basal till
in order to determine the source of a 20 kilometre long
kimberlitic indicator mineral train in glacial till. This train
had previously been traced easterly and up ice to within five
kilometres from a fence of holes which did not encounter
indicator minerals, outlining a source area for the kimberlitic
body. This source area was tested by the current drill program.
Picking and identification of indicator minerals from the samples
is still not complete. The ATW Project is between and roughly
equidistant from the Diavik and Snap Lake diamond deposits. The
Mackay Lake project is a joint venture of ATW Resources Ltd.
(75%), Aberex Minerals Ltd. (15%), and SouthernEra Resources Ltd.
(10%). ATW itself is owned by Almaden Minerals Ltd. (40%) Troymin
Resources Ltd. (20%), and Williams Creek Explorations Ltd. (40%).
Siwash Gold Deposit, Canada
The company completed a sixteen hole, 5,000 m (meter) diamond
drill program in September 2002 to test the continuity of
mineralisation at the company's wholly owned Siwash Gold Mine in
B.C. Calculation of an updated resource estimate incorporating
the 2002 drill intersections is underway. The Siwash Mine
presently has an indicated resource of 87,700 oz (2,727,400
grams) gold in 61,300 tons and a probable reserve of 45,200 oz
(1,405,700 gm) gold in 44,500 tons for a total of 141,962 ounces
in 123,142 tons as calculated on completion of the last drill
program in 2000.
Caballo Blanco, Mexico
The Caballo Blanco project is optioned to Comaplex Minerals Ltd.
(Comaplex) who can earn a 60% interest in the project by spending
US$2,000,000. Comaplex have completed a large rock sampling and
geologic mapping program. This work was complimented by analysis
of alteration mineralogy with a PIMA portable infrared
spectrometer which has outlined several prominent areas of
alteration and mineralisation. Comaplex has informed Almaden that
exploration will continue in the month of May and will include a
large IP geophysical survey to help define targets for drilling.
Galeana, Mexico
The Galeana property is optioned to Grid Capital Corp. (Grid) who
can earn a 60% interest by spending US$2,000,000 and issuing
400,000 shares to Almaden. Grid currently has a large field
program underway on this high-grade gold-silver vein prospect.
The work program has included rock and soil geochemical sampling,
geologic mapping and IP geophysical surveys intended to define
targets for a diamond drill program. The property covers two
major vein systems, the Miguel Ahumada - Estrella de Oro trend
and the San Geronimo trend, both of which have had limited
historic production. Production took place from 1889 to 1910, and
it is estimated from historic reports that up to 100,000 ounces
may have been extracted from vein material averaging 0.6 ounces
per ton (opt) Au. The mines were closed in 1910, at the time of
the Mexican revolution. Several comprehensive evaluations of the
deposits were carried out between 1902 and 1923 and are in the
possession of Almaden. In these evaluations grades are reported
to average 0.84 opt Au over an average of 6 feet at Miguel
Ahumada, 0.42 opt over an average of 7 feet at San Geronimo, and
0.9 opt over an average of 4 feet at Estrella de Oro. Both vein
systems represent classic banded quartz-adularia-carbonate low
sulphidation epithermal veins.
El Pulpo, Mexico
The El Pulpo property is located north-east of Mazatlan and
covers an area of approximately 100 square kilometres. Almaden
has optioned this property to Ross River Minerals Ltd. (Ross
River) who can earn a 60% interest by spending US$3,000,000 and
issuing 425,000 shares to Almaden. Almaden and Ross River have
identified high grade porphyry related gold, silver and copper
mineralisation has been identified over a surface area in excess
of 12 square kilometres. The property hosts at least two
copper-gold porphyry targets and three high grade gold vein
targets. Ross River has informed Almaden that a large sampling
and mapping program will start on the project in May, 2003.
BHP Billiton Joint Venture, Mexico
An initial helicopter-borne reconnaissance program has been
completed over the area of interest in this joint-venture program
with BHP Billiton, operated by Almaden and designed to identify
copper-gold deposits in Mexico. Several areas of significant
mineralisation and alteration for follow-up were noted in this
program. Work will commence immediately.
San Carlos, Mexico
The San Carlos Project is optioned to Aurcana Corp. (Aurcana),
who can earn a 60% interest in the property by spending
US$4,000,000 and have issued 300,000 shares to Almaden. Aurcana
have recently completed a four hole, 865 metre, diamond drilling
program in an area of the property prospective for copper-gold
porphyry mineralisation. Aurcana has reported to Almaden that all
holes intersected porphyry style alteration and mineralisation,
however the grades intersected of copper, molybdenum and gold are
low. The data is being reviewed by Aurcana to determine the next
phase of work on this porphyry target. Aurcana's work also
defined a separate gold target in an area of the property not
tested by drilling, defined by high gold in soil. Previous work
by Aurcana highlighted elevated gold in soils with values up to
1000 ppb. The recent expanded soil survey outlined a broad
geochemical anomaly with values ranging from 100 ppb to 1935 ppb
gold, and averaging 372 ppb gold over an area of approximately
300 metres by 1000 metres. This soil anomaly appears to represent
a new discovery which covers the contact between intrusive rocks
and limestone will be trenched in an attempt to determine its
source and to allow for sampling of the bedrock.
Yago, Mexico
Ascot Resources Ltd. (Ascot) has informed Almaden that it will
not continue with its option to earn a 60% interest in the Yago
project. Ascot drilled 1,098.2 meters in six diamond drill holes
on the La Sarda-San Juan vein, one of the four parallel veins of
the northern portion of the project. Of these holes one was lost
before it reached its target depth and in another hole the vein
intersection was ground and not recovered. The drillholes that
did intersect the La Sarda-San Juan structure indicate that the
vein remains open at depth and extends approximately 170 metres
northwest of known workings. Intersected widths of the vein
ranged from 0.3 to 4.71 metres and grades were from 0.30 to 4.74
g/t Au. The northern half of the project is underlain by a series
of four low-sulphidation epithermal veins named the La Sarda-San
Juan, La Esperanza, La Magnolia and La Cucaracha. These
structures are sub-parallel, southwest-dipping quartz-adularia
veins that occur over an area of 1500 by 1200 metres. There has
been limited production from each of these veins, but the
majority of production has been from the La Sarda-San Juan vein.
Drilling by Ascot was limited to the La Sarda-San Juan vein in
the northern part of the property and no drilling was carried out
in the southern part of the property where significant
quartz-adularia veining occurs from which rock samples taken by
Almaden and Ascot have returned significant gold and silver
assays. Ascot did carry out an IP geophysical survey over the
northern part of the property. This survey was particularly
effective in delineating these structures as resistivity highs
and extended the potential strike length of the La Sarda-San Juan
Vein by 260 metres to the northeast. The resistivity high
representing the vein extended to the northern boundary of the IP
survey area. Subsequent prospecting identified banded chalcedonic
quartz veining 550 metres northwest of the La Sarda-San Juan Vein
workings. Almaden will review the data collected by Ascot as well
as carry out fluid inclusion and petrograhic and alteration
mineralogy studies of veins and altered rock intersected in the
Ascot drilling to appraise the level tested within the
hydrothermal system.
Ram Property, Canada
Almaden's 69 RAM claims in the Yukon are optioned to Ross River
Minerals Inc. and form part of Ross River's Tay-LP project. Ross
River drilled four holes on the RAM claims in 2002 with no
significant results, however a hole drilled in 1998 returned 2.2
g/t Au over 5.3 meters. Ross River has informed Almaden that it
will carry out a program of work on the RAM claims in the 2003
field season.
ON BEHALF OF THE BOARD OF DIRECTORS
Morgan J. Poliquin, M.Sc., P.Eng., Director
The Toronto Stock Exchange has not reviewed nor accepted
responsibility for the adequacy or accuracy of the contents of
this news release which has been prepared by management.
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.
Ed Monton
22 years ago
News:
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: ALMADEN MINERALS LTD.
TSX SYMBOL: AMM
APRIL 16, 2003 - 16:30 EST
Almaden Minerals Ltd.: El Pulpo Property Optioned to
Ross River Minerals Inc.
VANCOUVER, BRITISH COLUMBIA--Almaden Minerals Ltd. (Almaden) is
pleased to announce that it has optioned its El Pulpo Copper-Gold
project in Mexico to Ross River Minerals Inc. (Ross River). Ross
River can earn a 50.1% interest in the project by spending
US$2,000,000 and issuing 425,000 shares of Ross River to Almaden
by April 30, 2008, including 150,000 shares to be issued upon
exchange approval of the agreement. Ross River can acquire an
additional 9.9% interest by spending a further US$1,000,000 by
April 30, 2010. Ross River is committed to spend US$100,000 by
April 30, 2004 and is responsible for all holding costs until it
has earned an interest in the property. The property contains
five claims that are held under option by Almaden and are subject
to the terms of the agreement with Ross River. A 100% interest in
these claims, subject to a 1% NSR, can be acquired by making
payments of US $162,000 by February 2005. The 1% NSR can be
purchased for US $500,000.
The El Pulpo project is located north-east of Mazatlan and covers
an area of approximately 120 square kilometres. High grade
porphyry related gold, silver and copper mineralization has been
identified over a surface area in excess of 12 square kilometres.
The properties host at least two copper-gold porphyry targets and
three high grade gold vein targets. Ross River has informed
Almaden of the following results from field work carried out by
Ross River:
El Bagre Target: The El Bagre Target exhibits altered
calc-alkaline intrusive quartz stockwork mineralisation hosting
both oxide and sulphide copper mineralisation. Four widely spaced
rock samples collected over an area of one square kilometre
averaged 1.43 % copper, 0.13 g/t gold and 52.4 g/t silver.
La Cetolla Target: Three kilometres east of El Bagre is the La
Cetolla porphyry target. In the early 1970's work by a major
North American mining company focused on a grid of 1,100 metres
by 230 metres which averaged 0.94% copper over this area. In
2002, Almaden sampled an area immediately to the south and up to
a kilometre away from the grid and obtained assays ranging from
0.29% to 0.79% copper and up to 0.8 g/t gold.
Papaya Target: The Papaya Target is one kilometre north of the El
Bagre Target. Of nine samples collected from a vein by Ross
River, seven assayed 1 g/t gold. The values of these seven
samples ranged from 1.00 g/t gold to 30.66 g/t gold, with an
average of 8.47 g/t gold, 90.4 g/t silver and 5.11 % copper over
a width of 1.5 to 2 metres.
La Trucha Target: The La Trucha target, two kilometres north of
the Papaya target, is centred around two float samples collected
separately by Almaden and Ross River, 50 metres apart, that
assayed 18.0 g/t gold, 410.0 g/t silver and 24.42 g/t gold, 792.2
g/t silver respectively.
El Tiburon Target: The El Tiburon target is a further one
kilometre north of the La Trucha target. A single grab sample
taken by Almaden assayed 1.92 g/t gold and 63 g/t silver. Two
grab samples taken within the same zone by Ross River assayed
0.78 g/t gold and 385.5 g/t silver and 11.80 g/t gold and 314.2
g/t silver over two metres.
Almaden is very pleased to have Ross River working on this
exciting project. Ross River has informed Almaden that a large
field program designed to define targets for drilling will
commence in May, 2003. Almaden currently has six active joint
venture programs involving other companies exploring Almaden
projects to earn an interest in them. In addition to these
Almaden has an active regional joint venture program underway to
explore for copper-gold deposits in Mexico with BHP Billiton.
ON BEHALF OF THE BOARD OF DIRECTORS
Morgan J. Poliquin, M.Sc., P.Eng., Director
The Toronto Stock Exchange has not reviewed nor accepted
responsibility for the adequacy or accuracy of the contents of
this news release which has been prepared by management.
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.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Almaden Minerals Ltd.
Morgan J. Poliquin
Director
(604) 689-7644
(604) 689-7644 (FAX)
Website: www.almadenminerals.com
Ed Monton
22 years ago
Almaden finds more high grade gold at Siwash Mine
By: Tim Wood
Posted: 2003/03/03 Mon 15:07 EST / © Mineweb 1997-2003
VANCOUVER -- Almaden [AMM] continues to progress its Siwash Mine in preparation for a restart of operations.
Located in Southern British Columbia, Siwash produced gold through the 1990s from high grade mesothermal quartz veins, accessed from an open pit and underground. The mine was put on care and maintenance after producing 51,750 ounces of gold, but is now slated for a restart after promising exploration.
Siwash has total mineralised gold of 141,962 ounces in 123,142 tons according to the last drill results from 2000. A sixteen hole, 5,000 meter diamond drill program was completed in September last year which results will be incorporated into an updated resource estimate.
Almaden has secured a second-hand mill that is being shipped to Siwash in anticipation of a mining restart in the medium-term at the nearly fully permitted mine.
The 2002 season focused on several veins. The WD vein, which has been traced along strike for a length of 525 meters and down dip for 320 meters, had a best intercept of half an ounce per ton over 2.15m. Another notable intercept was recorded from the Bullion Creek structure.
Almaden notes a possible extension to its B and WD vein systems; two kilometres along strike to the east which was discovered after a 2001 trenching programme. Grab samples from surface returned very strong gold and silver results, as did a panel sample from the trench wall, confirming the extension's potential.
Aside from the Siwash project, Almaden has several promising joint ventures covering fire covering gold, diamonds and base metals exploration. Through its joint ventures, it has also accumulated a handy investment portfolio worth C$250,000 that includes Troymin, Santoy, Aurcana, Ross River, Ascot, Copper Ridge, Grid Capital, Brett, Pacific Comox, Quartz Mountain
Ed Monton
22 years ago
From Mineweb:
http://www.mips1.net/MGGold.nsf/UNID/TWOD-5JJ469
Best of the Vancouver juniors
By: Tim Wood
Almaden Minerals [AMM]
We will be covering Almaden in more depth within a week’s time, but it’s worth a foretaste. It’s not often that family run exploration outfits can entice serious partners, but Almaden has done so repeatedly with the likes of BHP Billiton [BHP], Noranda [NOR] and Sumitomo. Management is a class act with a track record of four discoveries that became mines and it sinks its own money into fund raisings.
For it’s size, Almaden covers a lot of ground and has plenty of hot pokers in the fire covering gold, diamonds and base metals exploration and even a producing gold mine. Almaden’s habit of optioning its properties in exchange for cash and shares means it has an appreciable portfolio under girding its valuation.
Its activity in Mexico is pioneering, having purposely strayed from the better known areas to prospect in areas that were mined before the 1910 revolution that put all investment to flight for much of the rest of the century. Alamden’s results have been promising enough to entice BHP Billiton to participate in further investigating a copper-gold porphyry deposit. Also notable is the Yago project, optioned to Ascot Resources, which has shown bonanza grade gold veins under some old workings. Overall, six joint ventures are operating in Mexico.
Almaden is also a 40% owner of the Mackay Lake diamond project, immediately south of the Diavik mine, which boasts a huge indicator trend. Having isolated a likely area for kimberlites, further drilling is required to pinpoint the likely source of the indicator minerals.
Although the 100% owned Siwash gold mine is only mined on a rudimentary scale at the moment, recent exploration has uncovered a new vein that has turned up grades of 3 ounces per ton and has 2 kilometres of unexplored strike length. That promise encouraged Almaden to buy a second-hand mill for an astonishingly good price and it is being shipped to Siwash for future use. The mine is fully permitted though it requires local permitting for the mill. New engineering studies are being commissioned to prove up the project.
Ed Monton
22 years ago
I just found out that this is a Bob Bishop pick. Here is the article:
Finding the top gold stock picker
By: Tim Wood
Posted: 2003/01/13 Mon 15:45 / © Mineweb 1997-2003
NEW YORK -- In the newsletter business, it is exceptionally unusual to find a publisher who maintains a waiting list, more so when the subscriber list is just 500 strong. That discipline remains despite the temptation and capacity to grow the report a hundred times in a gold bull market like this and after picking two of the top three gold stocks in the world last year.
Had you invested $1,000 in Nevsun and Seabridge at the start of the year – companies Bob Bishop’s Gold Mining Stock Report had fingered for profit – you would have gained an additional $17,000 by the end of the year (+858%). In addition, GMSR told clients to go long on Glamis Gold (+214%) and Goldfields (+191%) among some of its best picks.
Bishop told subscribers in February last year that they needed to grit their teeth against the high multiples many gold stocks were carrying. “By any measure, gold stocks are not cheap—but a rising gold price will make them much less so. While the seniors will continue to be reactive to gold price follow-through, my preference would be to spend money farther down the food chain, favoring stocks that have shown much less movement – Nevsun (NSU.T/$0.65), First Point (FPX.CDNX/$0.30), Sultan Minerals (SUL.CDNX/$0.35), and Almaden (AMH.CDNX/$0.40).”
The only one that hasn’t performed particularly well has been Sultan, but it has held its value which is more than can be said for the broader market. Besides, all the other picks more than paid their way, including Wheaton River [WRM] (+139%) named in the same report.
It’s not just a fluke. GMSR previously recommended Nevsun way back in July 1995 at $1.95 and it flew to $17.35 a year later. In the same month of that year, Francisco Gold was added to the lost at $1.85, striding to $36 in February 97 “just before the resource world suffered a personality transplant,” says Bishop.
He has gained a reputation as one of the biggest stock movers in the business, making his endorsements heavily sort after. However, it’s not just another dog-and-pony Public Relations exercise the likes of which we see all too often nowadays. Bishop has no hesitation telling subscribers to sell, guiding them through each opportunity. He’s also unusually forthright about his own interests and makes it clear that he won’t recommend what he is selling
The GMSR also provides a snapshot for how radically gold investments have changed since early 2001 when it was recommending certain stocks: Aber at $14.85, but now worth $30; Almaden at $0.17, now a merger adjusted $0.90; Harmony at $5, now $17; and Gold Fields at $4.21, now $14.33.
When prices had appeared to race too far in early 2002, Bishop coached investors as follows: “Price revisions have been widespread and are perhaps daunting to those just beginning to consider the sector, but in a gold market that continues to advance, these and other share prices seem certain to build on their already impressive gains.”
Bishop, a genial fellow who self-deprecates by saying he has made money on every commodity except gold, remains confident that we’ll see more gains despite lofty valuations. However, he does warn that increasing Internet exposure for particular stocks (not all of it kosher in terms of author’s conflicts of interest) has made the game more interesting because prices and volumes are becoming detached from their fundamentals as the herd takes over. Likewise, the increasing use of technical analysis – thousands of people making decisions based on the same patterns – is driving stocks away from meaningful valuations. Finally, a lot of the momentum is second and third-hand, with newsletter subscribers having gained an advantage of hours and days.
“I saw enough of the self-fulfilling prophecy phenomenon in the last cycle, and hope to be able to continue to find stocks you can buy, not stocks you have to chase,” he tells subscribers in his most recent weekly bulletin.
He recommends that investors make “uncertainty” a watchword: “the more the word comes to mind, the more you should be thinking of taking money off the table it is lying upon. We’re facing a volatile future, and while I don’t think you should take an unserious view of all companies, I think treating some of them more like numbers—to be bought low and sold high—will keep things impersonal enough to assure that you have substantial profits to show for the current cycle.”
Nevertheless, he also notes that some people are being over-cautious in treating the present run in gold stocks, already well into its third year, as the very last one. That may have more than a little to do with age – those with memories and money in the 1980 spike in the gold price are getting rather long in the tooth.
Among Bishop’s recent stock picks are Wheaton River and Western Copper which have already gained significantly since word got out.
http://www.mips1.net/mggold.nsf/Current/4225685F0043D1B28525...
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