Almaden Hits 29.45 Meters of 3.21 g/t Gold and 136.3 g/t Silver (5.9 g/t AuEq) on Main Ixtaca Zone
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/07/12 -- Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX: AMM)(NYSE Amex: AAU) is pleased to announce further results from the on-going 4 drill exploration program on the Company's 100% owned Tuligtic project, Mexico with holes TU-12-96, TU-12-98 and TU-12-106 to 125. Holes TU-12-98, 109, 113 and 116 were drilled on the Northeast Extension Zone. Holes TU-12-110, 114, 118,119 and 122 were drilled into the Ixtaca North Zone. The remainder of the holes reported in this release were drilled into the Main Ixtaca Zone with holes TU-120, 123 and 124 from infill sections spaced at 25 meters from previous 50 meter spaced sections. Holes TU-12-108, 111, 117 and 121 on sections 10750 and 10800 demonstrate continuity of the Main Ixtaca Zone up-dip and along strike to the northeast. Highlights from the current group of assays include the following intercepts (a more complete list of intercepts is shown in the table below):
Hole TU-12-96 MAIN IXTACA ZONE, SECTION 10600:
97.9 meters @ 0.92 g/t gold and 65.2 g/t silver (2.2 g/t gold equivalent)
Including 7.79 meters @ 4.76 g/t gold and 277.3 g/t silver (10.3 g/t gold
equivalent)
Hole TU-12-98 NE EXTENSION, SECTION 11100:
92.5 meters @ 0.79 g/t gold and 60.2 g/t silver (2.0 g/t gold equivalent)
Including 47.50 meters @ 1.19 g/t gold and 91.7 g/t silver (3.0 g/t gold
equivalent)
Hole TU-12-110 IXTACA NORTH ZONE, SECTION 10250:
32.50 meters @ 1.12 g/t gold and 5.1 g/t silver (1.2 g/t gold equivalent)
and 5.10 meters @ 6.87 g/t gold and 10.9 g/t silver (7.1 g/t gold
equivalent)
Hole TU-12-111 MAIN IXTACA ZONE, SECTION 10800:
195.30 meters @ 0.85 g/t gold and 66.2 g/t silver (2.2 g/t gold equivalent)
Including 23.70 meters @ 2.57 gold and 272.6 g/t silver (8.0 g/t gold
equivalent)
Hole TU-12-119 IXTACA NORTH ZONE, SECTION 10500:
7.08 meters @ 1.29 g/t gold and 269.6 g/t silver (6.7 g/t gold equivalent)
and 39.10 meters @ 1.44 gold and 31.5 g/t silver (2.1 g/t gold equivalent)
Hole TU-12-123 MAIN IXTACA ZONE, SECTION 10525:
241.15 meters @ 1.13 g/t gold and 59.3 g/t silver (2.3 g/t gold equivalent)
Including 29.45 meters @ 3.21 g/t gold and 136.3 g/t silver (5.9 g/t gold
equivalent)
Hole TU-12-124 MAIN IXTACA ZONE, SECTION 10675:
185.00 meters @ 1.00 g/t gold and 60.5 g/t silver (2.2 g/t gold equivalent)
Including 13.90 meters @ 6.04 g/t gold and 179.7 g/t silver (9.6 g/t gold
equivalent)
Hole TU-12-125 IXTACA NORTH ZONE, SECTION 10550:
19.50 meters @ 1.20 g/t gold and 64.1 g/t silver (2.5 g/t gold equivalent)
J.D. Poliquin, Chairman of Almaden commented, "We are very pleased with these new results which continue to confirm and show the Ixtaca zone to be a robust and wide system of veining with sections that carry high gold and silver grades. Including the veining of the newly discovered Ixtaca North zone, the Ixtaca vein system is wider than previously known. The new results reported today from the Ixtaca North and Northeast Extension Zone show that robust mineralisation and high gold grades exist here as well. Drilling to date on the Ixtaca vein system shows good continuity of mineralisation in both horizontal and vertical dimensions." The Company currently has four drills operating on the Tuligtic project. Almaden plans to continue drilling operations throughout 2012. Below is a plan map, relevant sections and table of significant intervals which will be posted to the Company's website (www.almadenminerals.com).
To view the figures associated with this release, please visit the following link: http://file.marketwire.com/release/amm0507figures.pdf.
----------------------------------------------------------------------------
Gold Silver
From To Interval Gold Silver Eq Eq
Hole # Section (m) (m) (m) (g/t) (g/t) (g/t) (g/t)
----------------------------------------------------------------------------
TU-12-096 10600 151.40 249.33 97.93 0.92 65.2 2.2 111
----------------------------------------------------------------------------
TU-12-096 10600 including 197.00 200.86 3.86 1.61 99.3 3.6 180
----------------------------------------------------------------------------
TU-12-096 10600 and 206.15 211.65 5.50 1.69 124.6 4.2 209
----------------------------------------------------------------------------
TU-12-096 10600 and 223.54 229.22 5.68 2.30 191.3 6.1 306
----------------------------------------------------------------------------
TU-12-096 10600 and 238.85 246.64 7.79 4.76 277.3 10.3 515
----------------------------------------------------------------------------
TU-12-096 10600 279.31 288.40 9.09 2.83 23.9 3.3 165
----------------------------------------------------------------------------
TU-12-098 11100 124.50 216.95 92.45 0.79 60.2 2.0 100
----------------------------------------------------------------------------
TU-12-098 11100 including 145.15 192.65 47.50 1.19 91.7 3.0 151
----------------------------------------------------------------------------
TU-12-106 11100 167.70 177.00 9.30 0.32 121.3 2.7 138
----------------------------------------------------------------------------
TU-12-106 11100 191.00 195.00 4.00 0.14 99.9 2.1 107
----------------------------------------------------------------------------
TU-12-106 11100 204.50 223.00 18.50 0.28 47.3 1.2 61
----------------------------------------------------------------------------
TU-12-106 11100 272.00 292.70 20.70 0.59 40.6 1.4 70
----------------------------------------------------------------------------
TU-12-107 10650 189.50 215.80 26.30 0.87 27.7 1.4 71
----------------------------------------------------------------------------
TU-12-107 10650 405.90 412.55 6.65 0.91 91.2 2.7 137
----------------------------------------------------------------------------
TU-12-108 10800 139.00 225.50 86.50 0.48 47.2 1.4 71.04
----------------------------------------------------------------------------
TU-12-109 11100 256.50 280.50 24.00 0.36 28.6 0.9 47
----------------------------------------------------------------------------
TU-12-110 10250 40.50 93.00 52.50 0.79 3.5 0.9 43
----------------------------------------------------------------------------
TU-12-110 10250 including 60.50 93.00 32.50 1.12 5.1 1.2 61
----------------------------------------------------------------------------
TU-12-110 10250 140.50 145.60 5.10 6.87 10.9 7.1 354
----------------------------------------------------------------------------
TU-12-111 10800 99.75 295.05 195.30 0.85 66.2 2.2 109
----------------------------------------------------------------------------
TU-12-111 10800 including 171.50 229.50 58.00 1.68 156.6 4.8 240
----------------------------------------------------------------------------
TU-12-111 10800 and 183.80 207.50 23.70 2.57 272.6 8.0 402
----------------------------------------------------------------------------
TU-12-112 10750 360.50 365.55 5.05 1.89 33.0 2.5 127
----------------------------------------------------------------------------
TU-12-113 11100 91.50 148.15 56.65 0.54 32.4 1.2 59
----------------------------------------------------------------------------
TU-12-114 10250 23.75 118.85 95.10 0.59 4.0 0.7 33
----------------------------------------------------------------------------
TU-12-114 10250 and 111.00 117.65 6.65 2.01 10.3 2.2 111
----------------------------------------------------------------------------
TU-12-114 10250 138.99 157.60 18.61 2.59 3.8 2.7 133
----------------------------------------------------------------------------
TU-12-114 10250 including 138.99 139.50 0.51 85.80 42.2 86.6 4332
----------------------------------------------------------------------------
TU-12-114 10250 203.00 221.10 18.10 0.75 12.2 1.0 50
----------------------------------------------------------------------------
TU-12-115 10800 70.90 85.25 14.35 1.49 55.5 2.6 130
----------------------------------------------------------------------------
TU-12-115 10800 234.90 236.90 2.00 0.82 98.7 2.8 140
----------------------------------------------------------------------------
TU-12-116 11150 77.50 88.50 11.00 1.04 22.4 1.5 74
----------------------------------------------------------------------------
TU-12-117 10750 74.00 221.89 147.89 0.74 59.2 1.9 96
----------------------------------------------------------------------------
TU-12-117 10750 including 131.96 163.70 31.74 1.33 74.0 2.8 140
----------------------------------------------------------------------------
TU-12-117 10750 and 157.40 163.70 6.30 3.22 35.0 3.9 196
----------------------------------------------------------------------------
TU-12-117 10750 and 176.80 180.30 3.50 4.16 460.4 13.4 669
----------------------------------------------------------------------------
TU-12-117 10750 and 186.50 195.40 8.90 0.96 161.0 4.2 209
----------------------------------------------------------------------------
TU-12-118 10250 46.15 63.50 17.35 0.61 4.9 0.7 35
----------------------------------------------------------------------------
TU-12-119 10500 232.50 339.00 106.50 0.46 72.2 1.9 95
----------------------------------------------------------------------------
TU-12-119 10500 including 234.09 237.13 3.04 1.82 446.4 10.8 538
----------------------------------------------------------------------------
TU-12-119 10500 and 261.52 268.60 7.08 1.29 269.6 6.7 334
----------------------------------------------------------------------------
TU-12-119 10500 and 292.40 307.50 15.10 0.84 100.3 2.8 142
----------------------------------------------------------------------------
TU-12-119 10500 394.50 400.85 6.35 1.78 97.9 3.7 187
----------------------------------------------------------------------------
TU-12-119 10500 444.10 483.20 39.10 1.44 31.5 2.1 103
----------------------------------------------------------------------------
TU-12-119 10500 including 456.60 462.70 6.10 5.15 123.4 7.6 381
----------------------------------------------------------------------------
TU-12-120 10675 260.90 290.90 30.00 0.74 96.7 2.7 133
----------------------------------------------------------------------------
TU-12-120 10675 including 260.90 266.10 5.20 2.78 437.0 11.5 576
----------------------------------------------------------------------------
TU-12-121 10750 87.80 199.84 112.04 0.50 40.9 1.3 66
----------------------------------------------------------------------------
TU-12-121 10750 including 153.70 161.45 7.75 3.18 247.8 8.1 407
----------------------------------------------------------------------------
TU-12-122 10200 222.00 241.00 19.00 0.32 40.2 1.1 56
----------------------------------------------------------------------------
TU-12-122 10200 262.05 276.25 14.20 0.71 43.8 1.6 79
----------------------------------------------------------------------------
TU-12-123 10525 52.25 293.40 241.15 1.13 59.3 2.3 116
----------------------------------------------------------------------------
TU-12-123 10525 including 172.90 202.35 29.45 3.21 136.3 5.9 297
----------------------------------------------------------------------------
TU-12-123 10525 and 226.60 240.50 13.90 2.58 132.5 5.2 261
----------------------------------------------------------------------------
TU-12-123 10525 and 264.30 270.18 5.88 3.00 117.1 5.3 267
----------------------------------------------------------------------------
TU-12-124 10675 116.50 301.50 185.00 1.00 60.5 2.2 111
----------------------------------------------------------------------------
TU-12-124 10675 including 167.50 181.40 13.90 6.04 179.7 9.6 482
----------------------------------------------------------------------------
TU-12-125 10550 332.00 351.50 19.50 1.20 64.1 2.5 124
----------------------------------------------------------------------------
About the Ixtaca Property
The 100% owned Ixtaca zone is a blind discovery made by the Company in 2010. The Main Ixtaca and Ixtaca North Zones of veining are thought 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. Based upon observations at surface and of core as drilling progresses, there seems to be a variety of veinlet orientations within the Northeast Extension Zone however overall the zone is currently interpreted to be dipping shallowly to the north and striking at 060 Azimuth. Until this interpretation is confirmed true widths for the Northeast Extension intersections cannot be calculated with confidence at this time.
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 (cash, gold inventory and equity investments totalling approximately $41.2 MM as of March 21, 2012) 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. 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
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.
Neither the Toronto Stock Exchange (TSX) nor the NYSE AMEX have reviewed or accepted responsibility for the adequacy or accuracy of the contents of this news release which has been prepared by management.
Contacts:
Almaden Minerals Ltd.
Morgan J. Poliquin, Ph.D., P.Eng.
President, CEO and Director
604.689.7644
604.689.7645 (FAX)
www.almadenminerals.com