Mr. Morgan Poliquin reports
ALMADEN INTERSECTS 232.3 M OF 0.36 G/T AU AND 34 G/T AG (0.9 G/T AUEQ, 58 G/T AUEQ) IN HOLE TU-10-3 AND 32.69 M OF 0.15 G/T AU AND 32 G/T AG (0.6 G/T AUEQ, 41 G/T AUEQ) IN HOLE TU-10-2 AT IXTACA
Almaden Minerals Ltd. has released the assay results from remaining unreported holes, holes TU-10-2 and TU-10-3, from the company's preliminary August, 2010, drill program at the 100-per-cent-owned Ixtaca zone, located in Puebla state, Mexico. Holes TU-10-2 and TU-10-3 were drilled subsequent to discovery hole TU-10-1 (see Stockwatch news dated Aug. 9, 2010) and were designed to help the company understand the orientation of the vein zone. The company ceased drilling to await the results of this preliminary program. Drilling is planned to recommence in the first week of September, 2010.
Hole TU-10-3, from the base of overburden at 21.49 metres to 253.79 metres in depth, intersected a 232.30-metre interval that averaged 0.36 gram per tonne gold and 34 g/t silver (0.9 g/t gold equivalent, 57 g/t silver equivalent). Vein intersections include 0.81 metre of 4.3 g/t gold and 721 g/t silver (15.4 g/t AuEq, 1,002 g/t AgEq) and 0.20 metre of 7.5 g/t gold and 1,190 g/t Ag (25.8 g/t AuEq, 1,678 g/t AgEq). Hole TU-10-2 was drilled away from holes TU-10-1 and TU-10-3 and also intersected vein and zones of veining including 32.69 metres from 172.31 to 205.00 metres in depth of 0.15 g/t gold and 32 g/t silver (0.6 g/t AuEq, 41 g/t AgEq). Vein intersections in hole TU-10-2 include 1.34 metres of 0.1 g/t gold and 440 g/t silver (6.9 g/t AuEq, 448 g/t AgEq). The tables show the broad intervals of gold-silver mineralization and the high-grade gold-silver vein zones, respectively. Subsequent to the receipt of these analytical results it is clear that more complete sampling of holes TU-10-2 and TU-10-3 is required. This sampling will commence as soon as operations resume.
It is now apparent that all the holes were collared within the vein zone and there remains a roughly 50-metre-wide section of untested vein zone in the vicinity of the collars. The vein zone is now thought to have a general northeasterly trend but at this time true widths cannot be calculated with confidence. Additionally, individual veins have several different apparent attitudes and may not be oriented parallel to the strike of the overall vein zone. The previously reported discovery hole (TU-10-1 -- 302.41 m of 1.7 g/t AuEq) was drilled with an azimuth of 110 degrees and a dip of minus-55 degrees and is considered to be oriented oblique to the vein zone. Hole TU-10-2 was drilled away from TU-10-1 with an azimuth of 330 degrees and a dip of minus-55 degrees. Hole TU-10-3 was drilled at an azimuth of 150 degrees with a dip of minus-50 degrees. Of the three holes, TU-10-1 is believed to have most completely crossed the core of the vein zone while holes TU-10-2 and TU-10-3 are thought to have been collared closer to the hangingwall and footwall respectively. Accordingly hole TU-10-3 is interpreted to have intersected the vein system at shallower depths than that at which high grades were intersected in hole TU-10-1.
J.D. Poliquin, chairman of Almaden, commented, "We are pleased with the results of hole TU-10-2 and TU-10-3 which confirm the presence and breadth of the upper reaches of the large epithermal vein system intersected in the discovery hole TU-10-1."
BROAD INTERVALS, IXTACA ZONE, HOLES TU-10-2 AND TU-10-3
Gold Silver
Width Gold Silver Eq Eq
Hole From (m) To (m) (m) (g/t) (g/t) (g/t) (g/t) Ag/Au
TU-10-3 21.49 253.79 232.30 0.36 34 0.9 58 96
TU-10-3 incl-
uding 34.20 222.00 187.80 0.42 41 1.0 68 98
TU-10-3 and 36.75 47.61 10.86 0.61 69 1.7 109 114
TU-10-3 and 78.97 211.04 132.07 0.49 46 1.2 78 95
TU-10-3 and 78.97 101.00 22.03 0.54 80 1.8 115 150
TU-10-3 incl-
uding 78.97 89.00 10.03 0.80 121 2.7 172 151
TU-10-3 and 140.90 154.36 13.46 1.02 60 1.9 126 59
TU-10-3 and 191.95 211.04 19.09 1.12 86 2.4 158 77
TU-10-3 and 191.95 222.00 30.05 0.77 60 1.7 110 78
TU-10-2 172.31 205.00 32.69 0.15 32 0.6 41 211
TU-10-2 incl-
uding 194.20 198.70 4.50 0.18 148 2.5 159 826
HIGH-GRADE GOLD-SILVER INTERVALS, IXTACA ZONE, HOLES TU-10-2 AND
TU-10-3
Gold Silver
Width Gold Silver Eq Eq
Hole From (m) To (m) (m) (g/t) (g/t) (g/t) (g/t) Ag/Au
TU-10-3 78.97 79.3 0.33 3.86 378 9.7 629 98
TU-10-3 84.00 84.81 0.81 4.3 721 15.4 1002 166
TU-10-3 96.58 96.90 0.32 1.6 297 6.2 403 183
TU-10-3 110.16 110.47 0.31 2.2 481 9.6 624 219
TU-10-3 128.89 129.12 0.23 3.0 370 8.7 566 123
TU-10-3 140.90 141.10 0.20 4.1 113 5.8 378 28
TU-10-3 141.55 141.75 0.20 4.0 160 6.5 422 40
TU-10-3 142.94 144.16 1.22 2.5 113 4.3 277 45
TU-10-3 148.40 148.60 0.20 7.5 1190 25.8 1678 158
TU-10-3 152.41 152.99 0.58 5.4 111 7.1 462 21
TU-10-3 162.17 162.38 0.21 7.6 206 10.7 697 27
TU-10-3 163.18 163.44 0.26 3.9 392 10.0 647 100
TU-10-3 204.00 211.04 7.04 2.7 226 6.1 399 85
TU-10-3 incl-
uding 204.00 206.65 2.65 3.6 329 8.7 565 91
TU-10-2 56.33 56.53 0.20 0.6 64 1.6 105 101
TU-10-2 57.58 57.78 0.2 0.96 137 3.1 199 143
TU-10-2 194.46 194.68 0.22 1.1 59 2.0 129 54
TU-10-2 197.36 198.70 1.34 0.1 440 6.9 448 3570
Morgan J. Poliquin, PhD, PEng, the president and chief executive officer 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 quality-control program which complies with National Instrument 43-101 requirements. Gold equivalent and silver equivalent values were calculated using a silver to gold ratio of 65:1. Metallurgical recoveries and net smelter returns are assumed to be 100 per cent for these calculations. Intervals that returned assays below detection were assigned zero values.
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