News Release: February 11th, 2005
Another Gold-Silver Discovery
in Southern B.C.
Further to its News Release of January 21,
2005, Almaden Minerals Ltd. ("the Company") is pleased
to announce the discovery of another new epithermal gold-silver
prospect in southern British Columbia. The MERIT claim group
comprising about 1,700 hectares (17 sq. km) was staked during
2004 and early 2005 to cover this find, which is 100% owned by
Almaden. The property is easily accessed by road, 30 km west
from the city of Merritt, and is situated in the same volcanic
belt as the Company's adjacent large Prospect Valley project
currently under option to Consolidated Spire Ventures Ltd.
Early reconnaissance work in 2004 located
widespread angular float occurrences of quartz (± calcite)
having characteristics of low-sulphidation type epithermal veins
and breccias. Sixty grab samples of such material returned gold
analyses ranging from <100 ppb to 7,916 ppb (<0.1 - 7.9
g/t Au) and averaging 705 (0.7 g/t Au), along with anomalous
values of silver (Ag) ± molybdenum (Mo) ± arsenic
(As) ± antimony (Sb) ± barium (Ba) ± mercury
(Hg). Subsequent detailed prospecting and follow-up sampling
late in 2004 identified two significant structures which may
represent the sources of some of these float occurrences.
The main or El Gordo structure has been traced
intermittently along a strike length of 2,700 metres and is highlighted
by two segments of exposed alteration and mineralization called
Discovery Hill and Sullivan's Ridge zones. Both of these zones
are characterized by intense iron carbonate-hematitic silica
and clay alteration containing elevated to strongly anomalous
values of one or more of the epithermal suite trace elements
As, Sb, Hg, Ba plus copper (Cu) and manganese (Mn). The more
prominent Sullivan's Ridge consists of a 10- to 50-metre wide
zone that is readily traceable in outcrop and talus over a length
of 750 metres. Locally abundant quartz vein and carbonate-quartz
breccia rubble occurs within the alteration envelope. Seven
grab samples of this material from random sites along the zone
have yielded gold and silver analyses averaging 640 ppb (Au)
and 19 ppm (Ag), with values up to 1,721 ppb and 75 ppm respectively
(1.7 g/t Au, 75 g/t Ag). Initial soil geochemical sampling on
Sullivan's Ridge over an area of 800 metres by 200 metres, at
100-metre line spacing by 25-metre sample intervals, generated
a total of 104 soil samples. The results of this soil survey
show many anomalous multi-element sites including gold values
of 10 ppb to 307 ppb.
A second, parallel northerly trending structure
has been identified 1.5 kilometres to the west of El Gordo.
This structure is characterized by the West Zone quartz vein
and rubble train which has been traced over a 350-metre strike
length. Initial hand trenching across this zone at three closely
spaced intervals has revealed a massive hematitic quartz vein
having true widths of 1.5 to 2.5 metres. Ten continuous chip
samples across the vein have returned gold analyses averaging
105 ppb (0.1 g/t Au) together with anomalous Ag (to 12.9 ppm),
Cu (to 169 ppm), As (to 256 ppm), Sb (to 10.2 ppm), Ba (to 1517
ppm) and Hg (to 11.75 ppm). A single grab sample of vein rubble
located about 135 metres along strike from the trenched exposures
yielded respective gold and silver analyses of 880 ppb (0.8 g/t
Au) and 29.9 ppm (~ 30 g/t Ag).
The nature of the alteration and mineralization
found to date at Discovery Hill, Sullivan's Ridge and West zones,
including the presence of high mercury and barium values, suggest
that these zones may represent the very upper reaches of a significant
epithermal system. Detailed geochemical, mineralogic and fluid
inclusion studies of vein material will be conducted to better
determine the setting of these occurrences. Almaden considers
the initial sampling results to be very encouraging, and a 2005
field program is being planned.
All of the samples taken on the MERIT property
to date have been prepared and analyzed by Acme Analytical Laboratories
in Vancouver, BC, using the conventional ICP-MS technique. The
field programs have been designed and conducted by or under the
supervision of Edward Balon, P. Geo., an employee of Almaden
and the qualified person for this project under the meaning of
National Instrument 43-101.
For additional information, please contact
Duane Poliquin, President (604) 689-7644.
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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