Almaden Exploration Drilling Hits 26.00 Meters of 1.93 g/t Gold Including 1.00 m of 27.50 g/t Gold Approximately 1.2 km Sout...
May 31 2018 - 4:01PM
Almaden Minerals Ltd. (“Almaden” or “the Company”)
(TSX:AMM) (NYSE American:AAU) is pleased to announce further assay
results from Almaden’s ongoing exploration and development program
at the Company’s Ixtaca gold-silver project, Mexico.
Today’s results are from the Tano Zone which is
located about 1.2 kilometres south west, along strike from the Main
Ixtaca Zone and the 2017 Pre-Feasibility Study (“PFS”) pit. The
orientations of the new vein zones intersected in the holes
reported today are not well understood and true widths cannot be
calculated at this time. The Tano zone covers an area of exposed
volcanic and breccia hosted alteration and elevated gold in soil
samples. Previous drilling in this area identified veining and
mineralisation. Further interpretation of these past results led to
the drilling of the holes released today which now confirm
significant mineralisation in this part of the property. There is
no drilling between the holes announced today and the PFS pit area,
along the 060 Azimuth trend of the Main Ixtaca Zone, and this gap
is considered highly prospective. Highlights of today’s results
include the following intercepts:
|
|
|
|
Hole
TU-18-538 |
|
|
Az. 270, Dip
-60 |
28.90
meters @ 0.36 g/t Au and 22.8 g/t Ag |
Including |
|
|
2.60 meters @ 0.29 g/t
Au and 164.5 g/t Ag |
And |
|
|
6.30 meters @ 0.79 g/t
Au and 28.9 g/t Ag |
17.50
meters @ 0.43 g/t Au and 7.5 g/t Ag |
4.60 meters
@ 1.35 g/t Au and 72.5 g/t Ag |
|
|
|
|
Hole
TU-17-541 |
|
|
Az. 180, Dip
-60 |
89.50
meters @ 0.83 g/t Au and 2.3 g/t Ag |
Including |
|
|
40.00 meters @ 1.45 g/t
Au and 3.0 g/t Ag |
And |
|
|
26.00 meters @ 1.93 g/t
Au and 3.7 g/t Ag |
And |
|
|
1.00 meters @ 27.50 g/t
Au and 57.7 g/t Ag |
|
|
|
|
J.D. Poliquin, chairman of Almaden stated,
“These further results demonstrate the potential for an important
new mineralised zone well outside of the PFS pit and resource area.
These results also show the potential for further discoveries
within the project area and for the Ixtaca mine plan to grow with
continued exploration. Ongoing drilling will continue to seek more
such zones even as the engineering work and the Feasibility Study
progress.”
About the Ixtaca Deposit Feasibility
Program
The Company has selected independent engineers
Moose Mountain Technical Services (“MMTS”) and SRK Consulting to
lead the feasibility study. Various feasibility-related programs
are currently underway, including:
- Feasibility-level engineering
design;
- Additional geotechnical evaluations
in areas of infrastructure and pit slope;
- Continued monitoring of water
quality and flow;
- Metallurgical test work to further
refine the process flowsheet;
- The Comisión Federal de
Electricidad (CFE), the state-owned electric utility of Mexico, has
confirmed the availability of power from its substation located 27
km from the Ixtaca Project;
- Assessment of contractors suitable
to complete site access road improvements required for the mine
construction.
About the Ixtaca Drilling Program and
the Ixtaca ZoneThe Ixtaca Zone is a blind discovery made
by the Company in 2010 on claims staked by the Company. The deposit
is an epithermal gold-silver deposit, mostly hosted by veins in
carbonate units and crosscutting dykes (“basement rocks”) with a
minor component of disseminated mineralisation hosted in overlying
volcanic rocks.
The Ixtaca deposit is located in a developed
part of Mexico in Puebla State, the location of significant
manufacturing investments including Volkswagen and Audi plants. The
deposit is accessed by paved road and is roughly 30 kilometres from
an industrial park with rail service where significant
manufacturers such as Kimberly Clarke have facilities. Any
potential mining operation at Ixtaca would be located in an area
previously logged or cleared with negligible to no current land
usage.
The Company has access to the entire project
area and works closely with local officials and residents. The
Company has employed roughly 70 people in its exploration program
who live local to the Ixtaca deposit. For example, local employees
have made up virtually all the drilling staff and have been trained
on the job to operate the drill rigs being used at the project. 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 and
development 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 feasibility study work are
properly understood and communicated throughout the course of the
Company’s exploration and development program. To better explain
the impacts of a mining operation at Ixtaca the Company has
conducted numerous tours for local residents to third party
operated mines in Mexico so that interested individuals can form
their own opinions of mining based on first-hand experience. The
Company invites all interested parties to visit
www.almadenminerals.com to find out more about our community
development, education and outreach programs.
On December 12, 2017 Almaden announced the
completion of a Social Impact Assessment (“SIA”) of the Ixtaca
Project completed by Juan-Pablo Gudiño of GMI Consulting (“GMI”).
GMI is a Mexico City-based group which provides social and
environmental consulting services to government and industry. In
2015 it was recognized by Consulting Magazine as one of the 50 most
important consulting companies in Mexico. The work to complete the
SIA was carried out by an interdisciplinary group of nine
anthropologists, ethnologists and sociologists graduated from
various universities, who lived in community homes within the Focus
Area during the study to allow for ethnographic immersion and an
appreciation for the local customs and way of life. The SIA
sought voluntary participation from broad, diverse population
groups, with specific attention to approximately one thousand
persons in the Focus Area.
Qualified Person and Quality
Assurance/Quality ControlMr. 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. Intervals that returned assays below
detection were assigned zero values.
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.
About AlmadenAlmaden Minerals
Ltd. owns 100% of the Ixtaca project in Puebla State, Mexico,
subject to a 2.0% NSR royalty held by Almadex Minerals Ltd. The
Ixtaca Gold-Silver Deposit was discovered by Almaden in 2010.
On Behalf of the Board of Directors
“Morgan Poliquin”Morgan J. Poliquin, Ph.D.,
P.Eng.President, CEO and DirectorAlmaden Minerals Ltd.
Neither the Toronto Stock Exchange (TSX) nor the
NYSE American 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.
Contact Information:
Almaden Minerals Ltd. Tel. 604.689.7644 Email:
info@almadenminerals.comhttp://www.almadenminerals.com/
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