Almaden Hits 33.78 Meters of 4.4 G/T AuEq at Ixtaca, Mexico
September 09 2013 - 4:30PM
Marketwired
Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX:AMM)(NYSE
MKT:AAU) is pleased to announce the results from Almaden's ongoing
2013 Ixtaca Zone drill program at the Company's 100% owned Tuligtic
project, Mexico. The 2013 drill program to date has been focussed
on expanding the known resource immediately along strike to known
mineralisation, adjacent to the current resource shell and within
what is considered a potential pit shell. Highlights from the holes
released today include the following intercepts (a more complete
list of intercepts is shown in the table below):
Hole TU-13-287 CHEMALACO ZONE
25.50 meters @ 0.66 g/t gold and 102.3 g/t silver (2.7 g/t gold equivalent)
Including 2.08 meters @ 4.35 g/t gold and 975.0 g/t silver (23.9
g/t gold equivalent)
Hole TU-13-289 CHEMALACO ZONE
19.00 meters @ 0.22 g/t gold and 48.4 g/t silver (1.2 g/t gold equivalent)
Including 7.30 meters @ 0.40 g/t gold and 82.8 g/t silver (2.1 g/t
gold equivalent)
Hole TU-13-291 CHEMALACO ZONE
53.52 meters @ 0.56 g/t gold and 82.3 g/t silver (2.2 g/t gold equivalent)
Including 6.10 meters @ 0.86 g/t gold and 313.5 g/t silver (7.1
g/t gold equivalent)
Hole TU-13-294 CHEMALACO ZONE
90.75 meters @ 0.35 g/t gold and 31.1 g/t silver (1.0 g/t gold equivalent)
Including 24.36 meters @ 0.67 g/t gold and 71.9 g/t silver (2.1
g/t gold equivalent)
Hole TU-13-295 CHEMALACO ZONE
98.00 meters @ 0.24 g/t gold and 41.4 g/t silver (1.1 g/t gold equivalent)
Including 22.65 meters @ 0.44 g/t gold and 103.2 g/t silver (2.5
g/t gold equivalent)
33.78 meters @ 0.23 g/t gold and 208.4 g/t silver (4.4 g/t gold equivalent)
Hole TU-13-307 CHEMALACO ZONE
126.18 meters @ 0.33 g/t gold and 35.3 g/t silver (1.0 g/t gold equivalent)
Including 13.50 meters @ 0.86 g/t gold and 92.4 g/t silver (2.7
g/t gold equivalent)
Below is a plan map and relevant sections which will be posted
to the Company's website (www.almadenminerals.com). To view
accompanying map, visit the following link:
http://media3.marketwire.com/docs/Ixtaca_NRMaps_Sept2013.pdf
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 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. Based upon observations at
surface and of core as drilling progresses, there seems to be a
variety of veinlet orientations within the Chemalaco Zone however
overall the zone is currently interpreted to be dipping to the west
and striking roughly north-south.
----------------------------------------------------------------------------
From To Interval Au Ag AuEq AgEq
Hole # (m) (m) (m) (g/t) (g/t) (g/t) (g/t) SECTION
----------------------------------------------------------------------------
TU-13-287 106.00 131.00 25.00 0.11 15.2 0.4 21 50050N
-------------------------------------------------------------------
including 122.00 125.00 3.00 0.30 50.3 1.3 65
-------------------------------------------------------------------
TU-13-287 156.50 182.00 25.50 0.66 102.3 2.7 135
-------------------------------------------------------------------
including 168.00 170.08 2.08 4.35 975.0 23.9 1193
----------------------------------------------------------------------------
TU-13-289 134.00 153.00 19.00 0.22 48.4 1.2 59 50050N
-------------------------------------------------------------------
including 144.50 151.80 7.30 0.40 82.8 2.1 103
-------------------------------------------------------------------
TU-13-289 160.00 188.00 28.00 0.21 10.8 0.4 22
----------------------------------------------------------------------------
TU-13-290 73.00 79.00 6.00 0.22 0.0 0.2 11 10350E
----------------------------------------------------------------------------
TU-13-291 46.45 99.97 53.52 0.56 82.3 2.2 110 50150N
-------------------------------------------------------------------
including 54.25 60.35 6.10 0.86 313.5 7.1 357
-------------------------------------------------------------------
TU-13-291 151.00 167.00 16.00 0.13 18.9 0.5 25
----------------------------------------------------------------------------
TU-13-292 271.00 275.00 4.00 0.05 11.8 0.3 15
-------------------------------------------------------------------
TU-13-292 303.50 305.50 2.00 0.12 54.9 1.2 61
-------------------------------------------------------------------
TU-13-292 337.50 340.50 3.00 0.04 12.9 0.3 15
----------------------------------------------------------------------------
TU-13-293 75.59 87.78 12.19 0.36 7.6 0.5 26 50150N
----------------------------------------------------------------------------
TU-13-294 56.00 146.75 90.75 0.35 31.1 1.0 49 50150N
-------------------------------------------------------------------
including 100.00 124.36 24.36 0.67 71.9 2.1 105
----------------------------------------------------------------------------
TU-13-295 63.40 76.00 12.60 0.16 18.0 0.5 26 50150N
-------------------------------------------------------------------
TU-13-295 101.00 111.00 10.00 0.20 4.0 0.3 14
-------------------------------------------------------------------
TU-13-295 143.00 241.00 98.00 0.24 41.4 1.1 53
-------------------------------------------------------------------
including 168.70 171.20 2.50 0.94 121.8 3.4 169
-------------------------------------------------------------------
including 193.00 196.50 3.50 0.48 152.0 3.5 176
-------------------------------------------------------------------
including 212.00 234.65 22.65 0.44 103.2 2.5 125
-------------------------------------------------------------------
including 225.05 232.30 7.25 0.64 183.4 4.3 215
-------------------------------------------------------------------
TU-13-295 257.00 290.78 33.78 0.23 208.4 4.4 220
-------------------------------------------------------------------
including 277.00 279.80 2.80 0.62 2291.1 46.4 2322
----------------------------------------------------------------------------
TU-13-296 62.70 200.56 137.86 0.43 21.4 0.9 43 50150N
-------------------------------------------------------------------
including 81.69 118.20 36.51 0.83 31.3 1.5 73
-------------------------------------------------------------------
including 136.00 148.74 12.74 0.56 55.6 1.7 84
----------------------------------------------------------------------------
TU-13-298 117.00 127.00 10.00 0.05 8.6 0.2 11 50150N
-------------------------------------------------------------------
TU-13-298 145.00 157.00 12.00 0.09 30.8 0.7 35
-------------------------------------------------------------------
including 151.00 153.00 2.00 0.13 148.1 3.1 155
-------------------------------------------------------------------
TU-13-298 179.00 183.00 4.00 0.05 11.3 0.3 14
-------------------------------------------------------------------
TU-13-298 193.00 218.00 25.00 0.29 9.5 0.5 24
-------------------------------------------------------------------
including 211.00 212.50 1.50 1.06 19.7 1.5 73
----------------------------------------------------------------------------
TU-13-299 45.11 51.00 5.89 0.29 12.1 0.5 26 50200N
-------------------------------------------------------------------
TU-13-299 87.00 90.00 3.00 0.19 6.5 0.3 16
-------------------------------------------------------------------
TU-13-299 100.00 124.00 24.00 0.33 19.5 0.7 36
-------------------------------------------------------------------
including 111.50 113.00 1.50 0.25 52.1 1.3 65
----------------------------------------------------------------------------
TU-13-302 66.45 170.08 103.63 0.29 14.4 0.6 29 50200N
-------------------------------------------------------------------
including 103.00 125.00 22.00 0.83 35.9 1.5 78
----------------------------------------------------------------------------
TU-13-304 78.54 96.93 18.39 0.47 34.7 1.2 58 50200N
----------------------------------------------------------------------------
TU-13-305 20.73 29.00 8.27 0.15 5.9 0.3 13 50200N
-------------------------------------------------------------------
TU-13-305 43.66 51.06 7.40 0.41 8.7 0.6 29
----------------------------------------------------------------------------
TU-13-307 57.50 238.00 180.50 0.31 20.1 0.7 36 50200N
-------------------------------------------------------------------
including 60.50 75.50 15.00 0.53 34.1 1.2 61
-------------------------------------------------------------------
including 143.50 152.70 9.20 0.48 27.3 1.0 51
-------------------------------------------------------------------
including 164.00 166.00 2.00 0.41 186.7 4.1 207
-------------------------------------------------------------------
including 227.50 237.00 9.50 0.60 54.2 1.7 84
-------------------------------------------------------------------
TU-13-307 247.50 253.70 6.20 0.27 10.3 0.5 24
-------------------------------------------------------------------
TU-13-307 272.50 398.68 126.18 0.33 35.3 1.0 52
-------------------------------------------------------------------
including 272.50 273.50 1.00 1.38 370.5 8.8 439
-------------------------------------------------------------------
including 296.50 310.00 13.50 0.86 92.4 2.7 135
-------------------------------------------------------------------
including 304.50 310.00 5.50 1.56 171.9 5.0 250
-------------------------------------------------------------------
including 317.50 321.00 3.50 0.28 83.9 2.0 98
-------------------------------------------------------------------
including 330.00 342.60 12.60 0.45 62.5 1.7 85
-------------------------------------------------------------------
including 358.00 370.00 12.00 0.38 45.2 1.3 64
----------------------------------------------------------------------------
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 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. 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.
Contacts: Almaden Minerals Ltd. 604-689-7644 604-689-7645 (FAX)
www.almadenminerals.com
Almaden Minerals (TSX:AMM)
Historical Stock Chart
From Sep 2024 to Oct 2024
Almaden Minerals (TSX:AMM)
Historical Stock Chart
From Oct 2023 to Oct 2024