News Release: September 3rd, 2003
Progress Report
on the El Pulpo Project, Mexico
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 has provided Almaden with the latest
analytical results from sampling of both the Papaya and La Trucha
zones of veining which follow in tabular form.
Ross River has reported that sample widths
on the Papaya target are predominantly within veins, and that
vein widths have yet to be delineated but range from at least
6 metres to over 10 metres. The complete gold, silver and copper
assays reported by Ross River from La Papaya vein, measured from
north to south are shown in the following table:
Ross River has also reported that two additional
veins to the west and within 400 metres of the Papaya vein (Juana
and Cerro Blanco veins) have been traced over the same strike
length as the Papaya vein, and that four additional parallel
veins in the same area have been discovered but have yet to be
sampled. This system is open along strike both to the north and
south and the full widths of all the veins remain to be delineated.
Widths of these veins have not been fully delineated but range
from at least 5 metres to over 10 metres. Assays received from
the Juana vein range from 0.13 g/t gold, 98.4 g/t silver to 7.08
g/t gold, 206.9 g/t silver and range from 0.02 g/t gold, 145.2
g/t silver to 3.3 g/t gold, 154.1 g/t silver for the Cerro Blanco
vein. Copper values from the Juana vein range from 0.01% to 2.6%
and from 0.01% to 0.5% for the Cerro Blanco vein.
Ross River has also reported results from
the La Trucha target located 2 kilometres northeast of the Papaya
target.
The samples reported by Ross River from the La Trucha zone are
preliminary reconnaissance samples from at least 6 sub-parallel
veins, whose combined exposed width is at least 16 metres, within
a zone of 100 metres in width. The exposed strike length of these
veins, within a 'window', through overburden cover, is 140 metres.
The full widths of these veins remain to be delineated. Complete
gold, silver and copper assays from La Trucha quartz-tourmaline
veins are shown in the following table:
Approximately one kilometre along strike to
the southwest another area of sub-outcropping quartz-tourmaline
veins exposed through overburden cover and Ross River has reported
the following results of sampling from this zone:
Ross River has reported that the veins whose
assays are reported above on La Trucha and its southwest extension
are open along strike to the southwest and northeast. Paul Kallock
B.Sc., P.Geo, of Ross River verified the sampling techniques
at these locations and is a qualified person under the meaning
of National Instrument 43-101. Assays were completed by Acme
Analytical Laboratories, Vancouver.
Ross River has informed Almaden that it is
planning to return as soon as possible to the property to carry
out detailed geological mapping, trenching, sampling and geochemical
and geophysical surveys to more precisely determine the location
and width of the veins which will be followed by an extensive
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
Duane 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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