Almaden Minerals Ltd. (TSX: AMM) announces further assay results from its ongoing exploration and development program at the Company's Tuligtic project in Mexico.
Results reported are from drill holes TU-16-477 to 481 drilled on sections 10+525 and 675 East. All holes intersected significant mineralisation and veining inside or immediately outside of the Amended PEA pit. The holes drilled to the north intersected the previously defined subvertical Ixtaca North vein zone as well as the new zones of veining. Highlights from these drillholes include the following intercepts:
| Hole TU-16-477 | SECTION 10+525 EAST Az. 330, Dip -80 |
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| 4.70 meters @ 3.13 g/t Au and 737.9 g/t Ag | Ixtaca North Zone |
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| 3.95 meters @ 3.66 g/t Au and 379.0 g/t Ag | Ixtaca North Zone |
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| Hole TU-16-478 | SECTION 10+675 EAST Az. 330, Dip -35 |
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| 10.08 meters @ 1.26 g/t Au and 24.3 g/t Ag | Ixtaca North Zone |
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| Hole TU-16-479 | SECTION 10+525 EAST Az. 330, Dip -70 |
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| 8.50 meters @ 2.56 g/t Au and 357.0 g/t Ag | Ixtaca North Zone |
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| 30.35 meters @ 1.92 g/t Au and 62.1 g/t Ag | Ixtaca North Zone? |
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| 13.60 meters @ 3.62 g/t Au and 83.2 g/t Ag | Ixtaca North Zone? |
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| Including 4.00 meters @ 10.24 g/t Au and 215.8 g/t Ag | Ixtaca North Zone? | ||||
| Hole TU-16-480 | SECTION 10+675 EAST Az. 330, Dip -27 |
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| 0.50 meters @ 5.97 g/t Au and 617.0 g/t Ag | New Vein Zone? |
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| 11.50 meters @ 0.41 g/t Au and 39.5 g/t Ag | New Vein Zone? |
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| Hole TU-16-481 | SECTION 10+525 EAST Az. 330, Dip -30 |
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| 2.00 meters @ 1.55 g/t Au and 30.4 g/t Ag | Ixtaca North Zone? |
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| Including 0.70 meters @ 1.11 g/t Au and 148.0 g/t Ag | Ixtaca North Zone? | ||||
The mineralisation reported today confirms the presence of additional important zones of veining immediately adjacent to the Ixtaca Zone and points to the exploration potential of the project in general. The Ixtaca Zone was discovered in 2010 beneath a large area of largely barren clay alteration which has been confirmed subsequently to represent the upper portions of a gold and silver bearing epithermal vein system. Since the discovery Almaden has focussed its efforts on the development of the Ixtaca Zone, however today's results clearly show the potential for additional mineralisation, not only proximal to the deposit, but more broadly project wide beneath the high level clay alteration.
Earlier in 2016 the Company released a positive Preliminary Economic Assessment ("PEA") on the Ixtaca deposit (see news release dated January 22, 2016). Approximately 97% of the mineral resources incorporated into the updated PEA mine plan were in the Measured and Indicated categories.
J.D. Poliquin, chairman of Almaden stated, "Today's results once again show the presence of the high grade veins on the Tuligtic project. While we are now focussed on developing the Ixtaca deposit into a significant precious metals producer in Mexico, and are currently busy with engineering work and studies towards producing a PFS, this exploration drilling demonstrates additional resource potential both laterally and, because we are at the top of a fully preserved epithermal system, future exploration drilling will also test for feeder veins beneath the Ixtaca sheeted vein zone."
About the Ixtaca Zone
The Ixtaca Zone is a blind discovery made by the Company in 2010 on claims staked by the Company. The deposit is an epithermal gold-silver deposit, mostly hosted by veins in carbonate units and crosscutting dykes ("basement rocks") with a minor component of disseminated mineralisation hosted in overlying volcanic rocks.
The Ixtaca deposit is located in a developed part of Mexico in Puebla State, the location of significant manufacturing investments including Volkswagen and Audi plants. The deposit is accessed by paved road and is roughly 20 kilometres from an industrial park with rail service where significant manufacturers such as Kimberly Clarke have facilities. Any potential mining operation at Ixtaca would be located in an area previously logged or cleared with negligible to no current land usage.
Source: Almaden Minerals
