Campanario Project, Mexico
Optioned to Consolidated Spire Ventures
Almaden Minerals Ltd. (Almaden) is pleased
to announce that it has optioned it's 100% owned Campanario property,
located in Oaxaca State, to Consolidated Spire Ventures Ltd.
("Spire") under terms whereby Spire can earn a 60%
interest in the property from Almaden through exploration spending
and share issuances to Almaden. The Campanario property was identified
and acquired entirely by staking during a reconnaissance program
carried out by Almaden in 2004. The claim staked by Almaden covers
a roughly 10,003 hectare area, free of any other mineral title.
To date only a very preliminary exploration
program has been carried on the Campanario property. The property
covers several ridges where outcrop and subcrop of a breccia
body has been identified. The breccia consists of fragments of
various rocks types but dominated by fine-grained quartz-feldspar
porphyry clasts that are variably sized and shaped. The fragments
are silicified, adularised, clay altered and quartz-veined. The
matrix of the breccia consists of quartz and pyrite and the breccia
itself is extensively crosscut by a stockwork of pyrite-bearing
quartz veining. The breccia body has been traced in outcrop to
be at least 150 by 150 meters in size however, float of breccia
material suggests that the body or bodies of breccia may encompass
a much larger area. The work program has consisted of the collection
of 18 rock-chip samples of subcrop and float that have ranged
from 7 to 3,590 ppb (parts per billion; 1000 parts per billion
is equivalent to 1 parts per million or 1 gram per tonne) gold
and averaged 409 ppb gold. A preliminary four line soil sampling
program was carried on 100 meter spaced lines with samples taken
every 25 meters. The samples have returned gold values from 10
to 525 ppb gold, averaging 65 ppb gold. A greater than 100 ppb
gold anomaly that remains open and appears to be expanding in
size was identified in the southern most two lines of soil samples.
Spire has initiated a further program of rock
and soil sampling and geologic mapping and an induced polarization
(IP) geophysical survey in order to better define the breccia
zone and the soil anomaly. Work will commence before the end
of 2005.
Samples were collected under the supervision
of Morgan Poliquin, P.Eng., a Director of the Company, Greg Thomson,
P.Geo., and Andris Kikauka, the qualified person on the project
under the meaning of National Instrument 43-101. Sampled 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 15 active joint ventures,
including 10 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.
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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