Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX:
AMM; NYSE American: AAU) is pleased to announce assay
results from infill drilling that has been part of Almaden’s
feasibility study field work program carried out over the last 12
months within the resource and mine plan area at the Company’s
Ixtaca project, Mexico. Results herein are from infill holes
targeting high grade volcanic units at the southeast end of the
deposit within the Pre-Feasibility Study (“PFS”) pit. The
drill holes confirmed the continuation of the high-grade zone of
mineralization. Highlights include the following intercepts:
Hole
TU-18-543
SECTION 11025 EAST Az. 150, Dip -45127.40 meters @ 1.15
g/t Au and 17.6 g/t
AgIncluding
34.50 meters @ 2.08 g/t Au and 47.4 g/t Ag
Hole
TU-18-544
SECTION 11025 EAST Az. 150, Dip -35145.50 meters @ 1.83
g/t Au and 14.4 g/t
AgIncluding
40.00 meters @ 4.00 g/t Au and 35.1 g/t
AgIncluding
5.10 meters @ 11.63 g/t Au and 86.8 g/t Ag
Hole
TU-18-545
SECTION 11025 EAST Az. 150, Dip -9015.00 meters @ 0.79 g/t
Au and 6.1 g/t Ag
Hole
TU-18-546
SECTION 10975 EAST Az. 150, Dip -3099.50 meters @ 0.68 g/t
Au and 5.4 g/t
AgIncluding
44.00 meters @ 1.12 g/t Au and 6.3 g/t Ag
Hole
TU-18-547
SECTION 10975 EAST Az. 150, Dip -30174.50 meters @ 0.77
g/t Au and 7.8 g/t
AgIncluding
35.85 meters @ 1.17 g/t Au and 14.1 g/t
AgIncluding
18.00 meters @ 1.46 g/t Au and 7.0 g/t Ag
Hole
TU-18-548
SECTION 10975 EAST Az. 150, Dip -53139.08 meters @ 1.58
g/t Au and 16.8 g/t
AgIncluding
60.58 meters @ 2.75 g/t Au and 23.4 g/t
AgIncluding
28.50 meters @ 4.33 g/t Au and
33.6 g/t Ag
Hole
TU-18-549
SECTION 10975 EAST Az. 150, Dip -90111.50 meters @ 0.55
g/t Au and 14.8 g/t
AgIncluding
37.00 meters @ 0.89 g/t Au and 11.8 g/t Ag
Hole
TU-18-550
SECTION 10975 EAST Az. 330, Dip -60131.50 meters @ 1.51
g/t Au and 49.1 g/t
AgIncluding
21.00 meters @ 7.50 g/t Au and 57.0 g/t
AgIncluding
9.70 meters @ 15.18 g/t Au and 103.8 g/t
AgIncluding
11.50 meters @ 1.07 g/t Au and 89.4 g/t Ag
J.D. Poliquin, chairman of Almaden stated, “The
infill results further confirm the continuity of the Ixtaca
resource within the PFS pit and the significant grades that can be
associated with mineralisation in the volcanics. Our current
focus is the completion of the feasibility study which we
anticipate in 2018.”
About the Ixtaca Deposit Feasibility
ProgramThe Company has selected independent engineers
Moose Mountain Technical Services (“MMTS”) and SRK Consulting to
lead the feasibility study (“FS”). The FS is nearly complete and is
anticipated in 2018. The FS will incorporate the positive results
of ore sorting tests that were reported on July 16, 2018, as well
as several other opportunities that were identified in the FS work
program. As reported previously, Almaden is also in the final stage
of preparing an Environmental Impact Assessment (Manifiesto de
Impacto Ambiental or “MIA”) for Ixtaca, and is incorporating the
most recent updates contained in the FS, into the MIA. Almaden
expects to submit the MIA this year.
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.
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. 604.689.7644Email:
info@almadenminerals.comhttp://www.almadenminerals.com/
Photos accompanying this announcement are available
athttp://www.globenewswire.com/NewsRoom/AttachmentNg/d171de56-20b3-423a-bc8b-ee3a73faef47http://www.globenewswire.com/NewsRoom/AttachmentNg/6e787317-e046-4ea1-afec-a6a4b54b4bf5http://www.globenewswire.com/NewsRoom/AttachmentNg/95b088a9-f8a5-4697-9958-fc95ba63e672