overview | geology | past work

Option Agreement with Windstorm Resources Inc.
September 2010: Windstorm has the right to earn up to a 60% interest in the Caldera project by issuing 1,000,000 shares to Almaden and completing $5,000,000 in exploration work over six years. Of the work requirement, $150,000 is a firm commitment to be spent in the first year of the agreement. This agreement is subject to TSX Venture Exchange approval.

 

February 17th, 2011

Windstorm Resources Inc. has commenced a minimum 3,000m core drilling program on Almaden’s wholly owned Caldera gold project located in Puebla State, Mexico. The Caldera property is located 10 km from Almaden’s new Ixtaca Zone discovery on its Tuligtic property. Caldera also has similarities to Almaden’s Caballo Blanco property, located 150 km to the east and under option to Goldgroup Mining Inc., where a 30,000m drill program is currently underway. Windstorm has announced that three high priority target areas have been selected for testing in their initial drill program.
Read more: February 17th, 2011 news release +

 

The 100% Almaden owned Cadera project was discovered in 2007 during Almaden`s ongoing regional exploration program in Mexico. The property covers an 8km by 2km zone of intense acid sulphate alteration, including zones of massive to vuggy silica, quartz-alunite and kaolinite that are interpreted to represent the very top levels of a well-preserved high-sulphidation epithermal precious metal system.

In the spring of 2008 Almaden conducted a program of mapping, rock, soil and stream sediment sampling and test IP geophysics on the more than 60,000 hectare property which covers several areas of hydrothermal alteration. Alteration mapping has confirmed the presence of acid-sulphate alteration including zones of massive to vuggy silica, quartz-alunite and kaolinite over area of the Caldera project.

“It is extremely exciting to see concepts turn into new projects. This new property has the potential to develop into a Caballo Blanco-type gold project. We look forward to assessing its potential and developing it over the coming months.” J. D. Poliquin, Chairman and CEO of Almaden

Exploration completed to date, including geological mapping, rock chip sampling, soil geochemical sampling and Induced Polarization geophysical surveys, have defined drill targets. Stream sediment sampling has returned values from below detection to 90 ppb gold. Rock samples taken to date in areas of acid sulphate alteration have returned values from below detection to 40 ppb gold and 0.6% molybdenum. High values of arsenic and mercury were also returned in this sampling program.

 

high-sulphidation epithermal gold-silver system

Hydrothermal alteration typical of high sulphidation epithermal gold-silver environments, including vuggy silica and extensive areas of acid-sulphate alteration, has been identified at the Caldera prospect. The Caldera property is located 10 km from Almaden’s new Ixtaca Zone discovery on its Tuligtic property. The Caldera's alteration is also comparable Almaden’s Caballo Blanco high-sulphidation gold-silver-copper project in Veracruz State, located less than 150 kilometers away from Caldera, as well

The target at Caldera is a bulk tonnage gold deposit where mineralization is anticipated to most likely occur in association with zones of silica enrichment, which are electrically resistive, and disseminated sulphide mineralization, which typically produces an IP chargeability anomaly. Anomalously enriched values of gold and related pathfinder elements (arsenic – As, bismuth – Bi and antimony – Sb) detected in surface rock and soil samples may be a reflection of more concentrated precious metals mineralization at depth.

 

September 13th, 2010:

Almaden has developed exciting drill targets on the Caldera project. High priority drill target areas are characterized by a combination of intense alteration, anomalous precious metal and pathfinder element geochemistry and high resistivity. Drill permits are already in place. Windstorm reports that it plans to complete a comprehensive data review followed by a Phase I drilling program.
Read more: Septermber 13th, 2010 news release +