Almaden Extends Ixtaca Zone, Intersects 126.22 m of 0.86 g/t Au and 61.7 g/t Ag Including 19.18 m of 2.84 g/t Au and 160.2 g/t Ag
Wednesday 11/24/2010 5:39 PM ET - Marketwire
Almaden Minerals Ltd. ("Almaden" or "the Company" (TSX: AMM)(NYSE Amex: AAU) is pleased to report the results from hole TU-10-6, located about 110 meters away (northeast) of the recently reported holes TU-10-4 and TU-10-5 from the Company's 100% owned Ixtaca zone, located in Puebla State, Mexico. The attached plan map shows the locations of all holes drilled or underway. Hole TU-10-6 was collared with an azimuth of 150 degrees and dip of -50 degrees and intersected multiple quartz-carbonate-sulphide vein zones over significant widths. The entire zone of veining averaged 0.86 g/t gold and 61.7 g/t silver (2.1 g/t AuEq or 105 g/t AgEq) over 126.22 meters (from 295.58 to 421.80 meters). Multiple higher grade intervals were also intersected within this zone including 19.18 meters (from 317.50 to 336.68 meters) of 2.84 g/t gold and 160.2 g/t silver (6.0 g/t AuEq or 302 g/t AgEq). Both the broad intervals of veining and high grade gold-silver zones are tabularised below.
J.D. Poliquin, Chairman of Almaden commented, "Step out drilling in hole TU-10-6 has confirmed the presence of the broad zone of epithermal veining at Ixtaca 100 meters northeast of the most recently reported section (holes TU-10-4 and TU-10-5; see Almaden news release of November 23, 2010). While further holes are necessary to be confident with the orientation of the veins in this blind discovery, drilling continues to expand this zone of veining and we are very encouraged with the results received to date."
The property lies within the Trans Mexican Volcanic Belt about 120 kilometres southeast of the Pachuca gold/silver deposit which has reported historic production of 1.4 billion ounces of silver and 7 million ounces of gold. The Ixtaca vein zone is a blind discovery with little surface manifestation. Based upon observations at surface and of core as drilling progresses, there is now thought to be at least two major sets of veins; one along bedding striking roughly 150 to 170 degrees and one perpendicular to bedding striking roughly 50 to 70 degrees. Hole TU-10-6, as were the previously reported TU-10-2, 3, 4 and 5, was drilled parallel to bedding at 150 degrees azimuth. While this orientation was deemed best to intersect the 50 degree striking vein set, management now interprets that this drilling azimuth may in fact be parallel to the other major vein set. The overall vein zone is thought to have a north-easterly trend but true widths cannot be calculated with confidence at this time. Drilling has resumed at 100 degrees, an orientation currently thought to best intersect both sets of veining as well as mineralised dikes, the orientation of which is not currently understood.
Morgan J. Poliquin, Ph. D., P. Eng., the President and CEO of Almaden, and a qualified person under the meaning of National Instrument 43-101, reviewed the technical information in this news release. The analyses reported were carried out at ALS Chemex Laboratories of North Vancouver using industry standard aqua regia, ICP and fire assay techniques. 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. Previous news releases used silver to gold ratios of 65 to 1. Intervals that returned assays below detection were assigned zero values. Metallurgical recoveries and net smelter returns are assumed to be 100% for these calculations. Intervals that returned assays below detection were assigned zero values.