Almaden Hits 106.00 Meters of 0.36 g/t Gold and 0.23% Copper on the El Cobre Copper-Gold Project Mexico
May 06 2013 - 4:00PM
Marketwired
Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX:AMM)(NYSE
MKT:AAU) is pleased to announce results from the first two holes of
the 2013 drill program on the Company's 100% owned El Cobre
copper-gold porphyry project, Mexico. This new drilling was
conducted on only one of the four porphyry targets identified over
a 12 square kilometre area on the project. These new results
continue to show the potential of the El Cobre project to host an
economic copper-gold porphyry deposit.
J.D. Poliquin, Chairman of Almaden commented, "This new drilling
at El Cobre further highlights the potential of this project to
host a porphyry deposit. The project has unparalleled
infrastructure that is permissive for a deposit to be developed. At
this time we have only tested one of four known targets. Much more
work is required to fully understand and explore this exciting
copper-gold project. While market conditions require us to focus on
our Tuligtic project in the near-term, we are looking forward to
advancing El Cobre with the aggressive drill program required to
explore this tremendous target."
Highlights from the holes released today include the following
intercepts (a more complete list of intercepts is shown in the
table below):
Hole EC-13-004 El Porvenir Zone
243.00 meters @ 0.25 g/t gold and 0.18% copper
Including 106.00 meters @ 0.36 g/t gold and 0.23% copper
Includes 68.00 meters @ 0.47 g/t gold and 0.29% copper
Includes 32.00 meters @ 0.82 g/t gold and 0.41% copper
And 101.00 meters @ 0.20 g/t gold and 0.18% copper
Drillhole EC-13-004 was drilled at a -50 degree dip towards the
southwest and the intervals reported above and in the table below
represent length down the hole. The Company has yet to collect
sufficient data to determine how the downhole drill intervals might
relate to the actual true thickness of mineralization. Drillhole
EC-13-005 was also drilled to the southwest from the same pad but
at a steeper angle (-72) and largely intersected intensely phyllic
altered and pyrite mineralised monzonite intrusives with minor
copper and gold. Hole EC-13-005 is interpreted to not have gone
deep enough to cross the significant copper-gold intersection in
the shallower EC-13-004. Due to market conditions the Company has
temporarily suspended drilling at El Cobre to focus on the Ixtaca
zone of its flagship gold-silver Tuligtic project, also in Mexico.
Drilling will recommence after the Company has planned a new
program of drilling based on an analysis of the holes reported
today. Below are plan maps and a relevant section which will be
posted to the Company's website (www.almadenminerals.com).
To view accompanying maps, visit the following link:
http://media3.marketwire.com/docs/ElCobre_NRMaps_20130425.pdf
About the El Cobre Project
Almaden's 100% owned El Cobre project, currently subject to a
0.5% NSR, is situated about 75 kilometers north of the port city of
Veracruz, Mexico. The project is located in an area of unparalleled
infrastructure and is located near a power plant and highway.
Almaden's roughly 7,500 hectare claim block covers copper-gold
porphyry mineralization known to exist over a strike length of at
least four kilometers. Drilling by Almaden and past partners along
this strike length has returned significant copper and gold values.
Many of the past drill holes on the El Cobre property are shallow
and end in copper-gold mineralization. Porphyry mineralization is
associated with the exposed portions of diorite stocks which have
intruded intermediate volcanic rocks. Mineralogic and fluid
inclusion studies show conclusively that the gold and copper-gold
porphyry-style mineralization at El Cobre is not deeply eroded and
great potential exists at depth.
---------------------------------------------------------------------------
Hole# From (m) To (m) Interval (m) Cu (%) Au (g/t) Ag (g/t)
---------------------------------------------------------------------------
EC-13-004 10.97 328.00 317.03 0.09 0.12 0.39
---------------------------------------------------------------------------
EC-13-004 346.00 364.00 18.00 0.10 0.12 0.13
---------------------------------------------------------------------------
EC-13-004 382.00 657.00 275.00 0.17 0.23 0.86
---------------------------------------------------------------------------
including 398.00 641.00 243.00 0.18 0.25 0.94
---------------------------------------------------------------------------
including 398.00 504.00 106.00 0.23 0.36 1.04
---------------------------------------------------------------------------
including 412.00 480.00 68.00 0.29 0.47 1.35
---------------------------------------------------------------------------
including 424.00 456.00 32.00 0.41 0.82 1.79
---------------------------------------------------------------------------
including 490.00 498.00 8.00 0.22 0.33 0.95
---------------------------------------------------------------------------
including 534.00 635.00 101.00 0.18 0.20 1.06
---------------------------------------------------------------------------
including 556.00 569.40 13.40 0.20 0.15 1.76
---------------------------------------------------------------------------
including 585.00 631.00 46.00 0.21 0.30 1.10
---------------------------------------------------------------------------
including 601.00 611.00 10.00 0.24 0.38 1.22
---------------------------------------------------------------------------
including 623.00 627.00 4.00 0.23 0.52 0.85
---------------------------------------------------------------------------
TU-13-004 683.00 699.00 16.00 0.05 0.08 0.76
---------------------------------------------------------------------------
EC-13-005 8.00 22.00 14.00 0.13 0.17 0.33
---------------------------------------------------------------------------
EC-13-005 68.00 94.00 26.00 0.07 0.06 0.70
---------------------------------------------------------------------------
EC-13-005 138.00 242.00 104.00 0.08 0.14 0.43
---------------------------------------------------------------------------
including 146.00 152.00 6.00 0.16 0.75 0.77
---------------------------------------------------------------------------
including 218.00 222.00 4.00 0.16 0.27 0.95
---------------------------------------------------------------------------
EC-13-005 310.00 364.00 54.00 0.07 0.13 1.24
---------------------------------------------------------------------------
including 342.00 346.00 4.00 0.04 0.40 5.45
---------------------------------------------------------------------------
EC-13-005 382.00 402.00 20.00 0.06 0.10 1.85
---------------------------------------------------------------------------
including 396.00 400.00 4.00 0.08 0.20 3.95
---------------------------------------------------------------------------
EC-13-005 434.00 460.00 26.00 0.08 0.12 0.15
---------------------------------------------------------------------------
EC-13-005 482.00 566.00 84.00 0.06 0.10 0.22
---------------------------------------------------------------------------
EC-13-005 582.00 592.00 10.00 0.05 0.11 0.10
---------------------------------------------------------------------------
EC-13-005 610.00 656.00 46.00 0.04 0.12 0.07
---------------------------------------------------------------------------
EC-13-005 888.00 896.00 8.00 0.04 0.16 0.28
---------------------------------------------------------------------------
EC-13-005 994.00 1002.00 8.00 0.20 0.47 1.33
---------------------------------------------------------------------------
including 998.00 1000.00 2.00 0.49 1.21 2.40
---------------------------------------------------------------------------
Mr. Norm Dirks, P.Geo., a qualified person ("QP") under the
meaning of NI 43-101, is the QP and project manager of Almaden's El
Cobre drilling program and reviewed the technical information in
this news release. The attached table contains analyses from past
programs conducted by Almaden and former joint venture partners.
Analyses reported from current and past drilling conducted by
Almaden were carried out at ALS Chemex Laboratories of North
Vancouver using industry standard aqua regia, ICP and fire assay
techniques. This sampling also included a quality control program
and the insertion of field duplicates, certified standards and
blanks into the sample stream. Analyses reported from past drilling
conducted by past partners cannot be verified by Almaden but are
believed to have been acquired from exploration programs carried
out under the supervision of qualified persons (under the meaning
for qualified person as defined in NI 43-101) and in accordance
with NI 43-101 requirements.
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.
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 MKT 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
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