Joint Ventured with Yukon Zinc Corporation.

overview | geology

Almaden has a 40% interest, carried to a positive production decision by 60% partner Yukon Zinc Corporation (“Yukon Zinc”), in the Logan silver-zinc property is located 108 kilometers northwest of Watson Lake and 38 kilometers north of the Alaska Highway in the Watson Lake Mining District, Southern Yukon. Between 1979 and 1988 a considerable amount of work was done on the property, including mapping, geochemistry, geophysical surveys, road and airstrip construction, and 103 diamond drill holes.

 

Exploration work has delineated an 8000-meter long northeast trending fault-related structure containing the Main, West and East zones.

During the period 1979 through 1998 a total of 103 diamond drill holes were completed, defining an historic and non 43-101 compliant mineral resource of 12,300,000 tonnes grading 6.17% zinc and 26.4 g/t silver. Sphalerite with lesser pyrite, arsenopyrite, chalcopyrite, pyrrhotite, silver-bearing lead sulfo-salts and cassiterite occurs within quartz veins, breccia bodies, stockworks and silicified zones in highly altered granodiorite and andesite dyke rocks. Results of metallurgical testing are very encouraging and include zinc and silver recoveries in the mid 90% and mid 80% range respectively, with zinc concentrates assaying in the mid 50% range.

This resource estimate was based on prior data and prepared by previous operators. Almaden has not completed the work necessary to verify the classification of the mineral resource estimates. Almaden is not treating the mineral resource estimates as NI 43-101 defined resources verified by a qualified person and the historical estimates should not be relied upon.

In their March 29th, 2004 news release, Expatriate Resources (the predecessor company of Yukon Zinc Limited) referred to a Hatch Associates Limited news release from November 12th, 2003, which reported the re-estimation of the Logan deposit's resources. Please visit Yukon Zinc's news archive at http://www.yukonzinc.com/news_archive.cfm to download the PDF.