News Release: June 11th, 2008
Almaden Initiates Work Program at
the Munro Molybdenum-Copper Project, Canada
Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX:AMM; AMEX: AAU) is pleased to announce that it will conduct a detailed stream sediment sampling program on its 100% owned, road accessible Munro Lake porphyry molybdenum-copper-silver project located near Summerland, B.C. The property was acquired in 1986 by the company through staking. Since that time ground geophysics (induced polarization and magnetics), soil geochemistry and diamond drilling programs have been carried out. In 1996 and 1997 Almaden completed12 diamond drill holes spaced over roughly 6 kilometers. These holes were designed to test a high chargeability feature interpreted to represent sulphides emplaced within equigranular to porphyritic intrusive rocks. Most of these holes intersected anomalous copper, molybdenum and silver values, the most important of which are tabularized below. These intersections include a 14.8 meter interval in hole 96-3 that averaged 0.10% Molybdenum (Mo), 0.05% copper and 15.1 g/t silver. The Munro Lake project is located roughly 20 kilometers south of the Brenda molybdenum-copper porphyry deposit. Almaden believes that the mineralization at Munro Lake to be genetically similar to that mined at Brenda where production began in early 1970 with reserves of 160,556,700 tonnes grading 0.183 per cent copper and 0.049 per cent molybdenum. The Brenda mine officially closed June 8, 1990.
|
Hole #
|
From
|
To
|
Interval
(meters) |
Mo %
|
MoS2 %
|
Cu %
|
Ag g/t
|
Zn %
|
96-1 |
208.2 |
228.5 |
23.0 |
0.01 |
0.02 |
0.23 |
15.3 |
0.07 |
Including |
208.2 |
212.1 |
4.3 |
NSS |
NSS |
0.84 |
34.6 |
0.18 |
96-3 |
11.3 |
250.2 |
236.9 |
0.02 |
0.03 |
0.05 |
5.5 |
0.13 |
Including |
79.8 |
100.8 |
21.0 |
0.03 |
0.05 |
0.07 |
2.3 |
NSS |
Including |
119.9 |
134.7 |
14.8 |
0.10 |
0.16 |
0.05 |
15.1 |
0.27 |
96-5 |
152.0 |
170.0 |
18.0 |
NSS |
NSS |
0.09 |
6.3 |
0.06 |
Including |
210.0 |
218.0 |
8.0 |
NSS |
NSS |
0.68 |
28.6 |
1.88 |
Including |
210.0 |
212.0 |
2.0 |
NSS |
NSS |
2.24 |
94.9 |
6.73 |
Note: NSS denotes no significant values for this intersection. g/t signifies grams per tonne
There is little exposure of outcrop on the property which has hindered geologic mapping and past exploration efforts. A new interpretation of the available data has identified possible extensions to the mineralization. Almaden is planning a field program to investigate this potential and to design further diamond drilling. Almaden has initiated the current program to test the potential of the targets identified. Almaden is also seeking a suitable partner with the requisite technical abilities to advance this exciting molybdenum project. The samples quoted in this news release were collected by Almaden staff as part of drill programs carried out in 1996 and 1997. A quality control program was not instituted by the company at that time and the analytical work carried out did not include what is now considered to be quality control field insertion, but relied upon the laboratory quality control. The samples were analyzed by Eco Tech Laboratory Ltd. of Kamloops British Columbia at the time of sampling using industry standard analytical techniques.
Almaden will continue with its successful business model of identifying new projects through grass roots exploration and managing risk by forming joint ventures with partner companies that explore and develop our projects. Almaden’s grass roots exploration programs are designed to identify new mineral exploration projects in mineral terrains geologically permissive for world-class ore deposits. Morgan Poliquin, M.Sc., P. Eng., the president, COO and a director of the Company, is the qualified person reviewing the technical information in this news release under the meaning of National Instrument 43-101.
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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