Almaden drills 60.5 m of 2.21 g/t Au at Tuligtic

2013-01-24 09:06 ET - News Release

 

Mr. J.D. Poliquin reports

ALMADEN HITS 60.50 METERS OF 2.9 G/T AUEQ (2.21 G/T AU, 35.8 G/T AG) OUTSIDE RESOURCE SHELL ON MAIN IXTACA ZONE

Almaden Minerals Ltd. has released the remaining results from the 2012 drill program on the Ixtaca zone of the company's 100-per-cent-owned Tuligtic project, Mexico. Drilling confirmed the high-grade intersections previously announced on Section 11+000E (see Almaden news release of Nov. 26, 2012) with a new intersection on this section of 60.50 metres of 2.21 grams per tonne gold and 35.8 grams per tonne silver (2.9 grams per tonne gold equivalent). Mineralization was also traced 50 metres farther to the east with intersections on Section 11+050E, including 100.84 metres of 0.67 gram per tonne gold and 7.5 grams per tonne silver (0.8 gram per tonne gold equivalent). Further drilling is planned to both expand known mineralization and to define the new high-grade zone seen on Section 11+000E, the extent and orientation of which are not presently understood.

J.D. Poliquin, chairman of Almaden, commented: "This new drilling further shows the continued expansion of the overall Ixtaca vein system as well as its potential for high grades. We are excited to be finalizing our maiden resource estimation; however, these new results from outside the resource area show that the resource has potential to grow significantly beyond its current edges. Since the discovery in 2010 of the Main Ixtaca zone we have found the parallel Ixtaca North zone, the perpendicular Northeast extension (Chemalaco) zone and widespread mineralization in the volcanic units. All of these zones remain open and drilling targeted to expand the resource will shortly resume."

Highlights from the holes released today include the following intercepts (a more complete list of intercepts is shown in the table):

 

  • Hole TU-12-229 Northeast extension, Section 49+775 N (azimuth 070, dip minus 40): 35.50 metres at 0.78 gram per tonne gold and 6.5 grams per tonne silver (0.9 gram per tonne gold equivalent), including 13.00 metres at 1.40 grams per tonne gold and 11.0 grams per tonne silver (1.6 grams per tonne gold equivalent);
  • Hole TU-12-231 Main Ixtaca zone, Section 10+950 E (azimuth 150, dip minus 85): 27.00 metres at 0.52 gram per tonne gold and 2.2 grams per tonne silver (0.6 gram per tonne gold equivalent);
  • Hole TU-12-234 Main Ixtaca zone, Section 11+050 E (azimuth 150, dip minus 70): 44.70 metres at 0.65 gram per tonne gold and 4.1 grams per tonne silver (0.7 gram per tonne gold equivalent);
  • Hole TU-12-237 Main Ixtaca zone, Section 11+050 E (azimuth 150, dip minus 40): 100.84 metres at 0.67 gram per tonne gold and 7.5 grams per tonne silver (0.8 gram per tonne gold equivalent);
  • Hole TU-12-238 Main Ixtaca zone, Section 11+000 E (azimuth 330, dip minus 40): 120.50 metres at 1.31 grams per tonne gold and 19.0 grams per tonne silver (1.7 grams per tonne gold equivalent), including 60.50 metres at 2.21 grams per tonne gold and 35.8 grams per tonne silver (2.9 grams per tonne gold equivalent), includes 4.50 metres at 5.56 grams per tonne gold and 121.0 grams per tonne silver (eight grams per tonne gold equivalent), and 5.50 metres at 6.78 grams per tonne gold and 198.8 grams per tonne silver (10.8 grams per tonne gold equivalent);
  • Hole TU-12-246 Northeast extension, Section 49+775 N (azimuth 070, dip minus 80): 51.51 metres at 0.45 gram per tonne gold and 11.9 grams per tonne silver (0.7 gram per tonne gold equivalent), 8.90 metres at 0.43 gram per tonne gold and 99.6 grams per tonne silver (2.4 grams per tonne gold equivalent), and 5.50 metres at 0.79 gram per tonne gold and 112.1 grams per tonne silver (three grams per tonne gold equivalent).

 

 

                         DRILLING RESULTS                            Inter-              From      To     val      Au      Ag    AuEq    AgEqHole No.        (m)     (m)     (m)   (g/t)   (g/t)   (g/t)   (g/t)TU-12-223    88.00  107.00   19.00    0.15     3.8     0.2      11TU-12-223   252.00  263.40   11.40    0.13    30.5     0.7      37TU-12-223   299.40  370.60   71.20    0.10     8.3     0.3      14TU-12-226    29.00   81.05   52.05    0.44     4.3     0.5      26TU-12-226   243.00  250.00    7.00    0.04    21.9     0.5      24TU-12-226   463.50  519.50   56.00    0.17    11.1     0.4      20including   470.00  475.00    5.00    0.20    30.9     0.8      41including   499.25  503.75    4.50    0.59    14.4     0.9      44TU-12-228    97.50  103.00    5.50    0.13     7.8     0.3      14TU-12-228   283.10  292.00    8.90    0.16    35.2     0.9      43including   283.10  286.00    2.90    0.29    59.2     1.5      74TU-12-228   303.10  362.00   58.90    0.34    19.4     0.7      37including   323.00  331.50    8.50    0.90    19.2     1.3      65including   353.50  354.50    1.00    2.36   213.1     6.6     331TU-12-228   370.00  376.10    6.10    0.06    16.2     0.4      19TU-12-229    37.00   72.50   35.50    0.78     6.5     0.9      46including    43.00   56.00   13.00    1.40    11.0     1.6      81including    68.50   72.50    4.00    1.31     4.5     1.4      70TU-12-229   257.00  263.20    6.20    0.09    11.9     0.3      17TU-12-229   325.00  330.30    5.30    0.29     4.7     0.4      19TU-12-229   359.10  365.70    6.60    0.06    43.4     0.9      46TU-12-230   114.00  127.70   13.70    0.11     9.2     0.3      15TU-12-230   365.00  375.00   10.00    0.02    37.0     0.8      38including   366.00  367.00    1.00    0.01   207.1     4.2     208including   370.80  372.00    1.20    0.08    82.6     1.7      87TU-12-231    28.00   35.00    7.00    0.29     3.1     0.4      18TU-12-231    92.50  119.50   27.00    0.52     2.2     0.6      28including   112.50  117.50    5.00    0.93     2.3     1.0      49TU-12-231   176.00  180.00    4.00    0.15     7.5     0.3      15TU-12-232    42.67   54.70   12.03    0.65     8.2     0.8      40TU-12-232    69.70   88.35   18.65    0.28     8.6     0.4      22including    71.70   73.70    2.00    0.78    29.3     1.4      68TU-12-232   298.80  305.90    7.10    0.06    12.6     0.3      16TU-12-233    84.00   92.00    8.00    0.29     1.2     0.3      16TU-12-234    28.30   73.00   44.70    0.65     4.1     0.7      37including    65.40   71.00    5.60    1.00     6.7     1.1      57TU-12-235    61.50   64.50    3.00    0.17     1.8     0.2      11TU-12-235   268.00  302.50   34.50    0.08    15.6     0.4      20including   280.00  283.50    3.50    0.15    47.8     1.1      55TU-12-235   309.00  314.00    5.00    0.29    13.5     0.6      28TU-12-235   336.50  353.00   16.50    0.08    14.6     0.4      18including   339.95  341.50    1.55    0.14    49.9     1.1      57TU-12-236   113.00  141.00   28.00    0.56     1.7     0.6      30TU-12-236   147.00  150.00    3.00    0.70     4.9     0.8      40TU-12-237    49.16  150.00  100.84    0.67     7.5     0.8      41including    57.25   63.25    6.00    1.74     8.5     1.9      96including    81.50   86.50    5.00    1.23     3.7     1.3      65including   114.50  120.50    6.00    1.19    10.0     1.4      70including   130.00  142.00   12.00    0.97    23.5     1.4      72TU-12-238   126.00  246.50  120.50    1.31    19.0     1.7      85including   173.50  234.00   60.50    2.21    35.8     2.9     146including   202.00  206.50    4.50    5.56   121.0     8.0     399including   215.00  217.00    2.00    4.30    90.9     6.1     306including   222.50  228.00    5.50    6.78   198.8    10.8     538TU-12-239    30.48   54.25   23.77    0.50     6.2     0.6      31TU-12-239    88.40  100.40   12.00    0.08     7.9     0.2      12TU-12-241    30.48   67.05   36.57    0.46     4.9     0.6      28including    44.00   51.21    7.21    0.98    11.5     1.2      60TU-12-241    73.60   98.85   25.25    0.26     1.0     0.3      14TU-12-241   107.85  127.41   19.56    0.30     8.9     0.5      24TU-12-241   140.40  162.60   22.20    0.15    21.4     0.6      29TU-12-241   185.50  200.65   15.15    0.11    39.5     0.9      45including   189.00  189.60    0.60    0.50   356.0     7.6     381including   199.15  199.65    0.50    0.94   415.0     9.2     462TU-12-242    62.30   73.00   10.70    1.28     1.0     1.3      65including    63.30   67.00    3.70    2.34     2.8     2.4     120TU-12-243   104.00  128.00   24.00    0.14    11.0     0.4      18including   134.00  138.00    4.00    0.29    17.1     0.6      32TU-12-244    83.00   85.00    2.00    0.28     1.4     0.3      15TU-12-244   335.50  344.00    8.50    0.03    45.5     0.9      47including   337.72  341.00    3.28    0.04    84.3     1.7      86TU-12-245    29.50   38.00    8.50    0.25     4.1     0.3      17TU-12-245   102.00  156.00   54.00    0.27     2.6     0.3      16TU-12-245   177.00  183.00    6.00    0.28     3.1     0.3      17TU-12-246    12.19   63.70   51.51    0.45    11.9     0.7      34including    12.19   19.50    7.31    1.03    20.1     1.4      72TU-12-246    97.40  106.30    8.90    0.43    99.6     2.4     121including    97.40   98.00    0.60    4.47   988.0    24.2    1212TU-12-246   208.50  214.00    5.50    0.79   112.1     3.0     152including   211.00  213.00    2.00    1.72   225.0     6.2     311TU-12-247    38.00   48.00   10.00    0.27     1.6     0.3      15TU-12-247    62.00   70.00    8.00    0.18     2.6     0.2      12TU-12-247   119.00  148.74   29.74    1.16     3.0     1.2      61

 

The company has mobilized crews back to the Tuligtic project and plans to resume drilling operations shortly.

About the Ixtaca property

The 100-per-cent-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 northeasterly trend. Holes to date suggest that the Main Ixtaca and Ixtaca North zones are subvertical with local variations. This interpretation suggests that true widths range from approximately 35 per cent of intersected widths for a minus-70-degree hole to 94 per cent of intersected widths for a minus-20-degree hole. The drilling completed to date has traced mineralization over 1,000 metres 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, over all the zone is currently interpreted to be dipping shallowly to the west and striking roughly north to south.

Norm Dircks, PGeo, a qualified person under the meaning of National Instrument 43-101, is the qualified person and project manager of Almaden's Ixtaca program, and has reviewed the technical information in this news release. The analyses reported were carried out at ALS Chemex Laboratories of North Vancouver, B.C., using industry-standard analytical techniques. For gold, samples are first analyzed by fire assay and atomic absorption spectroscopy. Samples that return values greater than 10 grams per tonne gold using this technique are then reanalyzed by fire assay but with a gravimetric finish. Silver is first analyzed by inductively coupled plasma-atomic emission spectroscopy. Samples that return values greater than 100 grams per tonne silver by ICP-AES are then reanalyzed by HF-HNO3-HCLO4 digestion with HCL leach and ICP-AES finish. Of these samples those that return silver values greater than 1,500 grams per tonne are further analyzed 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 and silver equivalent 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 per cent for these calculations.

We seek Safe Harbor.