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News Release: February 27th, 2006
Almaden Minerals Ltd. (Almaden) is pleased
to announce that it has completed a program of geologic mapping,
rock and soil sampling and induced polarization ("IP")
and magnetics geophysical surveys on the company's wholly owned
Tuligtic porphyry copper-gold and epithermal gold-silver project,
Puebla State, Mexico. The property, was recognised during a helicopter
reconnaissance program and an undivided 100% interest was acquired
through staking. The Tuligtic project covers an area of intensely
altered rocks roughly 5 by 5 kilometers in size. Within this
area a field program carried out by Almaden identified both a
porphyry copper and an epithermal gold target.
The copper porphyry
target occurs within K-silicate altered intrusive rocks that
intrude deformed limestone which is overlain by intensely altered
volcanic rocks and geologically recent, post-mineralisation ash
deposits. Calc-silicate altered limestone occurs in proximity
to the intrusive contacts and is associated with skarn-type copper
mineralization, identified as boulders. Multiple phases make
up the intrusive body which has been altered and veined. Stockwork
quartz pyrite veining dominates the alteration and is associated
with minor copper mineralization. This alteration is observed
to overprint earlier potassic alteration.
An IP geophysical survey
was carried out on eight lines, three kilometres in length, spaced
200 meters apart, and centred over the gullies which have cut
through the unmineralised ash deposits and exposed the stockwork
veined and copper-gold mineralised intrusive rocks. This survey
indicated that the exposed mineralization represents a portion
of a much larger intrusive hosted system characterised by an
elevated chargeability response anomaly which is open in three
directions and increasing in tenor with depth. Soil sampling
has returned highly anomalous copper, molybdenum, silver and
gold in soil samples over areas where the altered and mineralised
intrusive rocks are exposed, and elevated chargeability responses
have been recorded at surface. On one line, 78050 north, 7 samples,
spaced at 50 meter intervals averaged 310 ppm copper over 350
meters, and included 3 samples taken over 150 meters that averaged
636 ppm copper. These samples were taken over the only area of
exposure of the intrusive complex along the line, in an area
of erosion beneath overlying ash deposits where high chargeability
responses (greater than 30 mV/V) have been recorded at surface.
To date 198 chip and grab rock samples have been taken from surface
exposures over the entire property, including both the porphyry
copper-gold and epithermal gold-silver target areas. Of these
samples, 12 returned copper values greater than 0.1 %, with a
high of 0.8%, and averaging 0.3% copper.The epithermal gold-silver target area, which
is exposed roughly one kilometre to the south of the outcropping
intrusive is characterised by also extensively clay altered and
silicified volcanic rocks. The alteration is indicative of the
upper parts of an epithermal system and includes replacement
silicification and sinter, the precipitate or sediment that was
deposited from a hot spring. Quartz-calcite veins with textural
evidence of boiling have been identified outcropping in limestone
roughly 100 meters beneath the exposed sinter. Initial sampling
of these veins and from float boulders of breccia containing
quartz vein fragments have returned
anomalous values in gold and silver as high as 600 g/t Ag and
6.1 g/t Au. The sinter and the overlying altered volcanic rocks
are highly anomalous in Hg, As and Sb.
Almaden's management feels that the Tuligtic
project has the potential for both a porphyry copper gold system
and an epithermal gold silver vein system. Such mineralising
environments are commonly closely associated with one another,
particularly in the geologic environment identified on the Tuligtic
project. Epithermal gold deposits that are spatially associated
with copper porphyry mineralization including the world class
Porgera and Lihir deposits, both located in Papua New Guinea
and the FSE-Lepanto-Victoria porphyry copper-gold and epithermal
vein system in the Philippines.
Maps and sections of the illustrating
the results of the geological mapping, rock and soil sampling
and geophysical survey results will be posted to Almaden's website.Morgan Poliquin, M.Sc., P.Eng., a director
of the company, is the qualified person reviewing the technical
information in this news release and supervising Almaden's exploration
programs in Mexico, under the meaning of National Instrument
43-101. Samples were analysed at ALS Chemex laboratories in Vancouver,
B.C., using fire assay, atomic absorption, and ICP-MS methodologies.
Almaden currently has 13 active joint ventures,
including 9 in which other companies are carrying all costs and
making significant exploration expenditures 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 partner with the suitable business and geological resources
to explore to advance the Tuligtic property and assess its potential
through drilling.
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. |
