News Release: November 21st, 2003
Progress Report
on the El Pulpo Project
The El Pulpo property is located north-east
of Mazatlan and covers an area of approximately 200 square kilometres.
Almaden Minerals Ltd. (Almaden) has optioned this property to
Ross River Minerals Ltd. (Ross River) who can earn a 60% interest
by spending US$3,000,000 and issuing 425,000 shares to Almaden.
The property was staked by Almaden to cover two known copper-gold
porphyry targets and three high grade gold vein targets including
the Papaya and La Trucha zones. Work to date by Ross River has
focussed on the high grade gold vein targets and has expanded
mineralisation previously known and identified by Almaden over
a surface area in excess of 12 square kilometres.
Ross River recently has informed Almaden that
is has discovered a new area of porphyry style alteration and
mineralization. Ross River has released the results of the initial
findings of this work in a news release, an excerpt from which
follows:
"Ross River Minerals has discovered a
new copper porphyry zone and extended the known mineralized zones
of both the Papaya and La Trucha targets on its El Pulpo property
in Mexico. To date, the company has identified three copper porphyry
targets and four gold-silver-copper vein targets on the 200-square-kilometre
property.
A new area, named the Langosta target, consisting of strong quartz-sericite-pyrite
(phyllic) alteration with stockwork quartz veining, has been
identified extending southward along a tributary creek (Quebrada
Magistral) 2,000 metres east of the Papaya target, approximately
2,500 metres southwest of La Cetolla copper porphyry target and
600 metres northeast from the El Bagre copper target on Rio Los
Frailes. Phyllic alteration is observed, to date, on the north
side of Rio Los Frailes over a distance of 100 metres and over
a distance of 150 metres on the south side of Rio Los Frailes.
This alteration extends outward from a core of potassic alteration
consisting of secondary biotite and potassium feldspar and minor
magnetite over a distance of 210 metres in a southerly direction.
These two styles of alteration characteristic of porphyry systems
are hosted within an altered granodiorite to quartz-diorite intrusive
complex.
Copper mineralization observed along Quebrada
Magistral, within the altered granodiorite to quartz-diorite,
consists of veinlets, disseminations and clusters of chalcopyrite
(approximately 5 to 10 per cent). At higher elevations within
this mineralized area, clusters of arsenopyrite mineralization
(approximately 1 to 5 per cent) have also been identified. Secondary
copper oxides within this area consist of malachite and black
copper oxides. The extent of the mineralized area mapped so far
measures approximately 100 metres (north to south direction)
and 75 metres (east to west direction) and remains open in all
directions. A total of 25 panel and chip samples have been taken
from this area and analytical results are pending. Geologic mapping
and sampling are continuing to determine the dimension and grade
of this altered and mineralized porphyry system. Samples are
being prepared at GM-Lacme Laboratories in Guadalajara, Mexico,
with final analyses being carried out by Acme Analytical Laboratories
Ltd. in Vancouver, B.C. Victor Jaramillo, P.Geo, is the qualified
person supervising the work in this area."
Ross River has also informed Almaden that
it is has commenced a program of trenching on the El Pulpo Property
to better define targets for a drilling program.
Almaden currently has ten active joint ventures
covering 12 properties, including six properties in which partners
are spending to earn an interest in the project and a regional
exploration program with partner BHP Billiton underway to explore
for copper-gold deposits in Mexico.
ON BEHALF OF THE BOARD
OF DIRECTORS
Morgan Poliquin
The Toronto Stock Exchange
has not reviewed nor accepted responsibility for the adequacy
or accuracy of the contents of this news release which has been
prepared by management. Statements contained in this news release
that are not historical facts are forward looking statements
as that term is defined in the private securities litigation
reform act of 1995. Such forward -looking statements are subject
to risks and uncertainties which could cause actual results to
differ materially from estimated results. Such risks and uncertainties
are detailed in the Company's filing with the Securities and
Exchange Commission.
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