Almaden Infill Drilling on Main Zone, Hits 92.50 Meters of 1.48 g/t
Au, 91.1 g/t Ag (3.3 g/t AuEq) at Ixtaca, Mexico
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 22, 2014) -
Almaden Minerals Ltd. (TSX:AMM)(NYSEMKT:AAU) ("Almaden" or "the
Company") is pleased to announce the results from Almaden's 2013
Ixtaca Zone drill program at the Company's 100% owned Tuligtic
project, Mexico. The infill program, completed in December 2013,
was 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 Zone 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-13-370: MAIN ZONE SECTION 10+475 EAST, 150 Az, -77 dip
9.00 meters @ 1.99 g/t gold and 139.5 g/t silver (4.8 g/t gold
equivalent) 12.00 meters @ 2.19 g/t gold and 126.1 g/t silver (4.7
g/t gold equivalent) 59.25 meters @ 1.26 g/t gold and 21.2 g/t
silver (1.7 g/t gold equivalent) Including: 22.50 meters @ 1.51 g/t
gold and 26.2 g/t silver (2.0 g/t gold equivalent) And: 12.75
meters @ 2.66 g/t gold and 36.7 g/t silver (3.4 g/t gold
equivalent)
Hole TU-13-373: MAIN ZONE SECTION 10+475 EAST, 150 Az, -57 dip
65.50 meters @ 0.35 g/t gold and 32.9 g/t silver (1.0 g/t gold
equivalent) 92.50 meters @ 1.48 g/t gold and 91.1 g/t silver (3.3
g/t gold equivalent) Including: 12.00 meters @ 2.82 g/t gold and
156.9 g/t silver (6.0 g/t gold equivalent) And: 11.70 meters @ 2.97
g/t gold and 212.1 g/t silver (7.2 g/t gold equivalent) 56.00
meters @ 1.07 g/t gold and 51.6 g/t silver (2.1 g/t gold
equivalent) Including: 6.10 meters @ 3.82 g/t gold and 201.6 g/t
silver (7.9 g/t gold equivalent)
Hole TU-13-378: MAIN ZONE SECTION 10+475 EAST, 150 Az, -37 dip
124.50 meters @ 1.04 g/t gold and 73.5 g/t silver (2.5 g/t gold
equivalent) Including: 4.50 meters @ 11.51 g/t gold and 950.2 g/t
silver (30.5 g/t gold equivalent) And: 14.75 meters @ 2.38 g/t gold
and 162.5 g/t silver (5.6 g/t gold equivalent)
Hole TU-13-388: MAIN ZONE SECTION 10+675 EAST, 330 Az, -60 dip
30.50 meters @ 0.67 g/t gold and 23.9 g/t silver (1.1 g/t gold
equivalent) 9.00 meters @ 1.35 g/t gold and 287.5 g/t silver (7.1
g/t gold equivalent) 52.50 meters @ 0.58 g/t and 50.3 g/t silver
(1.6 g/t gold equivalent) Including: 14.90 meters @ 0.74 g/t gold
and 87.0 g/t silver (2.5 g/t gold equivalent) And: 13.90 meters @
1.11 g/t gold and 82.9 g/t silver (2.8 g/t gold equivalent)
Hole TU-13-399: MAIN ZONE SECTION 10+750 EAST, 330 Az, -60 dip
47.52 meters @ 0.64 g/t gold and 27.1 g/t silver (1.2 g/t gold
equivalent) Including: 19.60 meters @ 1.10 g/t gold and 43.1 g/t
silver (2.0 g/t gold equivalent)
Hole TU-13-409: MAIN ZONE SECTION 10+800 EAST, 330 Az, -88 dip
92.28 meters @ 0.53 g/t gold and 17.5 g/t silver (0.9 g/t gold
equivalent) Including: 18.80 meters @ 1.07 g/t gold and 13.1 g/t
silver (1.3 g/t gold equivalent)
Hole # |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Ag (g/t) |
AuEq (g/t) |
AgEq (g/t) |
SECTION |
TU-13-370 |
67.50 |
80.50 |
13.00 |
0.17 |
64.4 |
1.5 |
73 |
10475E |
including |
75.00 |
76.50 |
1.50 |
0.63 |
439.0 |
9.4 |
470 |
TU-13-370 |
87.50 |
93.00 |
5.50 |
0.16 |
16.1 |
0.5 |
24 |
TU-13-370 |
99.00 |
108.00 |
9.00 |
1.99 |
139.5 |
4.8 |
239 |
including |
102.00 |
106.00 |
4.00 |
4.36 |
303.6 |
10.4 |
522 |
TU-13-370 |
195.00 |
207.00 |
12.00 |
2.19 |
126.1 |
4.7 |
236 |
including |
196.00 |
202.00 |
6.00 |
3.91 |
212.3 |
8.2 |
408 |
including |
196.00 |
199.00 |
3.00 |
6.30 |
403.7 |
14.4 |
719 |
TU-13-370 |
237.50 |
296.75 |
59.25 |
1.26 |
21.2 |
1.7 |
84 |
including |
247.50 |
270.00 |
22.50 |
1.51 |
26.2 |
2.0 |
102 |
including |
247.50 |
254.00 |
6.50 |
2.41 |
25.3 |
2.9 |
146 |
including |
260.00 |
270.00 |
10.00 |
1.68 |
35.2 |
2.4 |
119 |
including |
280.00 |
292.75 |
12.75 |
2.66 |
36.7 |
3.4 |
170 |
including |
288.75 |
292.75 |
4.00 |
4.14 |
46.7 |
5.1 |
254 |
TU-13-373 |
34.50 |
48.50 |
14.00 |
0.08 |
9.2 |
0.3 |
13 |
10475E |
TU-13-373 |
54.50 |
58.50 |
4.00 |
1.69 |
239.0 |
6.5 |
324 |
including |
55.00 |
56.00 |
1.00 |
5.65 |
822.0 |
22.1 |
1105 |
TU-13-373 |
69.50 |
135.00 |
65.50 |
0.35 |
32.9 |
1.0 |
51 |
including |
90.00 |
100.00 |
10.00 |
0.70 |
64.8 |
2.0 |
100 |
including |
111.00 |
135.00 |
24.00 |
0.51 |
49.2 |
1.5 |
75 |
TU-13-373 |
143.50 |
236.00 |
92.50 |
1.48 |
91.1 |
3.3 |
165 |
including |
143.50 |
161.00 |
17.50 |
2.49 |
141.7 |
5.3 |
266 |
including |
180.00 |
222.50 |
42.50 |
1.96 |
120.4 |
4.4 |
218 |
including |
184.00 |
196.00 |
12.00 |
2.82 |
156.9 |
6.0 |
298 |
including |
205.50 |
217.20 |
11.70 |
2.97 |
212.1 |
7.2 |
361 |
including |
210.50 |
217.20 |
6.70 |
4.36 |
287.0 |
10.1 |
505 |
TU-13-373 |
249.50 |
305.50 |
56.00 |
1.07 |
51.6 |
2.1 |
105 |
including |
267.00 |
279.70 |
12.70 |
1.72 |
70.7 |
3.1 |
157 |
including |
275.00 |
276.00 |
1.00 |
17.04 |
580.5 |
28.7 |
1433 |
including |
289.50 |
295.60 |
6.10 |
3.82 |
201.6 |
7.9 |
393 |
including |
290.00 |
292.50 |
2.50 |
8.54 |
464.7 |
17.8 |
892 |
TU-13-378 |
20.50 |
145.00 |
124.50 |
1.04 |
73.5 |
2.5 |
125 |
10475E |
including |
26.00 |
27.50 |
1.50 |
2.18 |
102.3 |
4.2 |
211 |
including |
56.50 |
61.00 |
4.50 |
11.51 |
950.2 |
30.5 |
1526 |
including |
116.00 |
130.75 |
14.75 |
2.38 |
162.5 |
5.6 |
281 |
TU-13-378 |
162.00 |
181.00 |
19.00 |
0.51 |
81.7 |
2.1 |
107 |
including |
163.25 |
166.00 |
2.75 |
2.25 |
448.8 |
11.2 |
562 |
TU-13-388 |
199.00 |
229.50 |
30.50 |
0.67 |
23.9 |
1.1 |
57 |
10675E |
TU-13-388 |
337.50 |
346.50 |
9.00 |
1.35 |
287.5 |
7.1 |
355 |
including |
339.25 |
340.35 |
1.10 |
6.54 |
1982.7 |
46.2 |
2310 |
TU-13-388 |
363.50 |
416.00 |
52.50 |
0.58 |
50.3 |
1.6 |
79 |
including |
363.50 |
378.40 |
14.90 |
0.74 |
87.0 |
2.5 |
124 |
including |
372.00 |
378.40 |
6.40 |
1.19 |
138.9 |
4.0 |
198 |
including |
390.00 |
403.90 |
13.90 |
1.11 |
82.9 |
2.8 |
139 |
including |
398.60 |
401.10 |
2.50 |
1.78 |
173.0 |
5.2 |
262 |
TU-13-399 |
214.00 |
261.52 |
47.52 |
0.64 |
27.1 |
1.2 |
59 |
10750E |
including |
228.00 |
247.60 |
19.60 |
1.10 |
43.1 |
2.0 |
98 |
including |
240.00 |
245.60 |
5.60 |
1.54 |
77.9 |
3.1 |
155 |
TU-13-406 |
140.00 |
146.00 |
6.00 |
0.52 |
1.7 |
0.6 |
28 |
10800E |
TU-13-406 |
154.00 |
189.00 |
35.00 |
0.30 |
18.2 |
0.7 |
33 |
including |
182.00 |
186.00 |
4.00 |
0.44 |
88.0 |
2.2 |
110 |
TU-13-408 |
188.00 |
191.05 |
3.05 |
0.39 |
1.1 |
0.4 |
21 |
10925E |
TU-13-409 |
154.00 |
246.28 |
92.28 |
0.53 |
17.5 |
0.9 |
44 |
10800E |
including |
173.70 |
192.50 |
18.80 |
1.07 |
13.1 |
1.3 |
67 |
including |
211.50 |
216.10 |
4.60 |
1.31 |
128.6 |
3.9 |
194 |
including |
212.50 |
215.50 |
3.00 |
1.58 |
182.7 |
5.2 |
262 |
including |
239.50 |
242.00 |
2.50 |
0.83 |
66.2 |
2.2 |
108 |
TU-13-411 |
134.00 |
219.00 |
85.00 |
0.50 |
16.5 |
0.8 |
42 |
10725E |
including |
169.00 |
184.00 |
15.00 |
1.40 |
28.1 |
2.0 |
98 |
including |
175.00 |
180.00 |
5.00 |
2.06 |
38.8 |
2.8 |
142 |
J.D. Poliquin, chairman of Almaden, stated, "Today's holes once
again show the continuity of this part of the Main Ixtaca Zone and
highlight the high grades that core it. The infill drilling program
completed in 2013 was designed to upgrade the confidence of our
resource base. We look forward to reporting a new resource estimate
which is now underway." Below is a plan map and relevant sections
which will be posted to the Company's website
(www.almadenminerals.com).
To view the maps accompanying this press release, please visit
the following link:
http://media3.marketwire.com/docs/923345.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 in early
2014 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.
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. Poliquin, Ph.D., P.Eng.President,
CEO and Director604.689.7644604.689.7645www.almadenminerals.com
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