News Release:January 17th, 2008
ALMADEN intersects 3.16 m of 45.2 g/t at the Elk Project, B.C.
During 2007 Almaden Minerals Ltd. (“Almaden”) carried out a diamond drill program on its wholly owned Elk Gold Deposit. The program consisted of 2,469 meters of drilling in 9 holes (SND07504 to SND07512). Hole SND07506 intersected 1.06 meters grading 131 grams per tonne gold (3.82 ounces per ton) within an interval of 3.16 meters (from 191.00 to 194.16 meters) grading 45.2 grams per tonne gold (1.32 ounces per ton). Highlights of the 2007 program are tabularised below.
Hole |
From (m) |
To (m) |
Interval (m) |
Gold (g/t) |
Gold (opt) |
SND07504 |
36.27 |
36.63 |
0.36 |
2.80 |
0.08 |
SND07505 |
151.65 |
152.23 |
0.58 |
14.60 |
0.43 |
SND07506 |
191.00 |
194.16 |
3.16 |
45.20 |
1.32 |
Including |
192.10 |
193.16 |
1.06 |
131.00 |
3.82 |
SND0707 |
207.60 |
207.98 |
0.38 |
3.80 |
0.11 |
SND0708 |
157.16 |
159.66 |
2.50 |
10.30 |
0.30 |
Including |
158.01 |
158.66 |
0.65 |
39.30 |
1.15 |
SND0708 |
399.51 |
402.01 |
2.50 |
26.20 |
0.76 |
Including |
400.40 |
401.12 |
0.72 |
90.00 |
2.63 |
SND07509 |
31.70 |
31.98 |
0.28 |
30.30 |
0.88 |
SND07509 |
42.66 |
42.88 |
0.22 |
28.10 |
0.82 |
SND07509 |
212.29 |
214.40 |
2.11 |
22.50 |
0.66 |
SND07509 |
219.69 |
220.76 |
1.07 |
8.40 |
0.25 |
SND07510 |
218.95 |
219.36 |
0.41 |
38.60 |
1.13 |
SND07511 |
143.28 |
143.57 |
0.29 |
15.10 |
0.44 |
SND07511 |
178.70 |
179.22 |
0.52 |
27.70 |
0.81 |
SND07512 |
52.84 |
53.14 |
0.30 |
9.42 |
0.27 |
Note: m signifies meters; g/t signifies grams per tonne, opt ounces per ton. True widths are not known at this time
The Elk Gold deposit is located two kilometres south of Highway 97C and 45 kilometres southeast of Merritt in the Okanagan area of Southern British Columbia. The property is known for its very high gold grades and in the 1990’s, 51,750 ounces of gold were produced from 18,400 tons of quartz vein ore extracted from open pit and underground operations.
J. D. Poliquin, Chairman of Almaden stated: “The Elk gold deposit represents a growing gold resource that can add significant value to our company apart from that created through our generative exploration efforts, particularly in light of the recent increase in gold’s valuation with respect to fiat currencies. Almaden’s management is excited about the project and will continue to move it towards production.”
The qualified person and supervisor for the 2007 exploration drill program is Mr. Jim Hylands, Ph.D., P. Eng., an independent consultant. Mr. Hylands has reviewed the contents of this news release. Samples were analyzed at G & T Metallurgical Services Ltd., of Kamloops, B.C. and Acme Analytical Laboratories using industry standard fire assay and ICP techniques. G & T Metallurgical Services Ltd. is an ISO 17025:2000 accredited laboratory. Blanks and standards were inserted into the sample stream as part of Almaden’s ongoing quality control program at the Elk Deposit.
Samples collected during 2007 will undergo further testing to determine metallurgical recovery parameters which may be used in further studies being considered by Almaden.
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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