New Mexican Ag-Pb-Zn Project
Acquired by Staking
Almaden Minerals Ltd. (Almaden) is pleased
to announce that it has acquired by staking a 100% interest in
the Santa Isabela property. The property covers a roughly 14,000
hectare area and is located in Coahuila State, Mexico. The project
was identified in a regional helicopter-borne prospecting program
and covers an a low-lying ridge located within 50 kilometers
of the large Penasquito Ag-Pb-Zn deposit owned by Western Silver
Corporation and the historic Concepcion del Oro polymetallic
mining camp.
The Santa Isabela property is road accessible
and covers an area of structurally controlled jasperoid replacement
silicification and calcite veining traceable over 700 meters
in outcrop and developed within a package of limestones. To date
twenty four samples have been taken of oxidized jasperoid and
calcite veined limestone returning zinc values up to 11.95% and
averaging 4.68%, lead values up to 7.33% and averaging 1.94%
and silver values up to 172 g/t and averaging 34.8 g/t.
Preliminary soil geochemical and induced polarization
(IP) geophysical surveys were conducted along three lines, approximately
1 km long established at roughly 500 m intervals perpendicular
to the ridge. Seventy-four soil samples were collected along
the lines at 25 m spacings within the arc of the ridge and at
50 m intervals along the flats at its base. The strongest response
for lead, zinc and silver was obtained from the central line.
A continuous series of samples representing a width of 150 m
yielded lead values >250 ppm (to 1.78%), zinc values >300
ppm (to 2.10%) and silver values >1 g/t (to 17.1 g/t). The
preliminary pole-dipole IP survey identified a broad chargeability
high that was most prominent on one line with chargeability values
over 40 mV/V. This response likely indicates the presence of
significant sulphides at depth.
Silver-lead-zinc mineralization at the Santa
Isabela property is thought to represent the upper levels of
a potentially much larger mineralized carbonate replacement (CRD)
system at depth, likely identified by the IP survey described
above. Although the work at the Santa Isabela property to date
is preliminary in nature, it has identified an interesting and
prospective CRD style target. Grades associated with the mineralization
sampled are consistent with CRD style mineralization from the
districts within the Mexican CRD Belt. The most notable of which
is the nearby Conception del Oro mining district which is thought
to have produced in excess of 40 Mt reportedly grading 12.8%
Zn, 5.8% Pb, 275 g/t Ag, up to 1.5 g/t Au and up to 1.5% Cu.
Western Silver Corporation has recently released a new resource
estimate for its Penasquito deposit, located immediately west
of the Concepcion del Oro camp, with a total measured and indicated
sulphide resource of 309.75 Million tonnes grading 31.56 g/t
Ag, 0.31% Pb and 0.78% Zn.
Samples were collected under the supervision
of Bill Wengzynowsi, P.Eng., president of the consulting firm
Archer Cathro and Associates (1981) Ltd., and Morgan Poliquin,
M.Sc., P.Eng., a director of Almaden, and the qualified person
on the project under the meaning of National Instrument 43-101.
Samples were analysed at ALS Chemex Labs of North Vancouver,
B.C., using conventional fire assay, and inductively coupled
plasma atomic emission spectroscopy (ICP).
Almaden currently has 11 active joint ventures,
including 7 in which other companies are carrying all costs in
order to earn an interest in the projects. Almaden will continue
with its successful business model of identifying exciting new
projects through early stage grass roots exploration and managing
risk by forming joint ventures in which partner companies explore
and develop our projects in return for the right to earn an interest
in them. Almaden is seeking a joint venture partner to advance
the Santa Isabela property under similar terms to those of its
present joint venture agreements.
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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