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Almaden Announces Maiden Resource Estimate and Results of Preliminary Metallurgy for the Ixtaca Gold-Silver Zone of the Tuligtic

Almaden Announces Maiden Resource Estimate and Results of Preliminary 
Metallurgy for the Ixtaca Gold-Silver Zone of the Tuligtic Project,
Mexico 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/31/13 -- Almaden
Minerals Ltd. ("Almaden" or "the Company") (TSX:AMM)(NYSE MKT:AAU) is
pleased to announce the results of preliminary scoping-level
metallurgy performed by Blue Coast Research Ltd, and reviewed and
summarised below by Dr. Andrew Bamber, P.Eng., as well as the maiden
National Instrument 43-101 compliant Mineral Resource Estimate on the
Ixtaca Zone of its 100% owned Tuligtic Gold-Silver Project Mexico
performed by Giroux Consultants Ltd. The Ixtaca Zone is a gold (Au)
and silver (Ag) deposit with roughly equal values per tonne of each
metal. The resource is presented in gold equivalent (AuEq) ounces and
cut-offs calculated based on price ratios. The newly received
preliminary metallurgical test results indicate non-optimised gold
and silver recoveries that are roughly equivalent for each geological
domain. The deposit is mostly hosted by carbonate units and
crosscutting dykes ("basement rocks") and overlying volcanic rocks.
In the base case roughly 90% of the deposit's AuEq ounces are hosted
in the basement rocks, the remaining 10% in volcanic rocks. While the
preliminary metallurgical results are considered excellent, further
test work is planned to improve and optimize recoveries for all the
different geologic units. 
Highlights: 


 
--  Indicated Resource of 2,019,000 AuEq ounces using the base case 0.5
    grams per tonne (g/t) AuEq cutoff comprised of 56.99 million tonnes
    grading at 1.10 g/t AuEq (0.52 g/t Au and 29.91 g/t Ag) 
--  Inferred Resource of 1,552,000 AuEq ounces using the base case 0.5 g/t
    AuEq cutoff comprised of 41.53 million tonnes grading at 1.16 g/t AuEq
    (0.56 g/t Au and 31.41 g/t Ag) 
--  Excellent overall Au and Ag recoveries from a combination of flotation,
    gravity concentration and intensive leaching averaging 88% for Au and
    82% for Ag across all geologic domains: In basement rocks average
    recoveries are 93% for Au and 82% for Ag (ranging from 88.6 to 96.8% for
    Au, and 81.8 to 87.0% for Ag); in volcanics 54.1% Au, and 61.9% Ag. 
--  High gravity recoveries of Au in basement rocks averaging 55% (ranging
    from 48% to 59%); 15% for volcanic rocks.
 
----------------------------------------------------------------------------
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  INDICATED RESOURCE                                                        
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                Tonnes             Grade                                    
AuEq      greater than      greater than                                   
Cut-off        Cut-off           Cut-off             Contained Metal        
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                           Au     Ag   AuEq        Au        Ag      AuEq
(g/t)         (tonnes)  (g/t)  (g/t)  (g/t)     (ozs)     (ozs)     (ozs)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
0.3         97,840,000   0.38   21.8    0.8  1,202,000 68,580,000  2,526,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
0.4         73,610,000   0.45  25.87   0.95  1,074,000 61,230,000  2,258,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
0.5         56,990,000   0.52  29.91    1.1    960,000 54,800,000  2,019,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
1           20,920,000   0.85  49.82   1.81    570,000 33,510,000  1,218,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
2            5,740,000   1.31  88.14   3.01    241,000 16,270,000    556,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
   INFERRED RESOURCE                                                        
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                Tonnes             Grade                                    
AuEq      greater than      greater than                                   
Cut-off        Cut-off           Cut-off             Contained Metal        
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                           Au     Ag   AuEq        Au        Ag      AuEq
(g/t)         (tonnes)  (g/t)  (g/t)  (g/t)     (ozs)     (ozs)     (ozs)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
0.3         65,880,000   0.43  22.93   0.88    917,000 48,570,000  1,855,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
0.4         51,800,000    0.5  27.12   1.02    826,000 45,170,000  1,700,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
0.5         41,530,000   0.56  31.41   1.16    741,000 41,940,000  1,552,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
1           17,830,000   0.82   50.6    1.8    469,000 29,010,000  1,030,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
2            5,080,000   1.14  83.18   2.75    186,000 13,590,000    449,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Table 1: Ixtaca Zone NI 43-101 Indicated and Inferred Mineral Resource      
Statement with the Base Case 0.5 g/t AuEq Cut-Off highlighted. Also shown   
are the 0.3 g/t, 0.4, 1 and 2 g/t AuEq cut-off results. AuEq calculation    
based on three year trailing average prices of $1500/oz gold and $29/oz     
silver.                                                                     

 
"The outstanding preliminary metallurgical recoveries and maiden
resource estimate represent a major milestone for Almaden
shareholders underlining the potential and quality of this growing
gold-silver deposit," stated J.D. Poliquin, Chairman of Almaden. "At
a discovery cost of approximately $3.50 per gold equivalent resource
ounce using the 0.5 g/t AuEq cutoff, we have advanced the Ixtaca Zone
from initial discovery to resource in a little more than 2.5 years
with minimal dilution to shareholders. Based on the surface
footprints of currently known gold in soil anomalies, we see
considerable expansion potential along strike from the current
resource and elsewhere on the 14,000 hectare 100% owned Tuligtic
Project. We plan to maintain our aggressive pace of exploration in
2013 and continue metallurgical test work to optimize recoveries for
a planned Preliminary Economic Analysis." 
Resource Estimate 
The data available for the resource estimation consisted of 225 drill
holes assayed for gold and silver. The estimate was constrained by
three dimensional solids representing different lithologic and
mineralized domains. Capping was completed to reduce the effect of
outliers within each domain. Uniform down hole 3 meter (m) composites
were produced for each domain and used to produce semivariograms for
each variable. Grades were interpolated into blocks 10 x 10 x 5 m in
dimension by ordinary kriging. Specific gravities were determined for
each domain from drill core. Estimated blocks were classified as
either Indicated or Inferred based on drill hole density and grade
continuity.  
Metallurgical Gold and Silver Test work 
Metallurgical testwork on Ixtaca commenced with the treatment of a
range of composite samples, comprising half drillcore intersections
from each of the main geologic domains: dyke, limestone,
limestone/dyke high grade (HG), black shale (Northeast Extension
Zone) and volcanic tuff material. Each composite was made up of five
sub composites, each of which was taken from a separate drillhole,
representing a different part of the respective geologic domain.
Samples were shipped from Ixtaca in late August, 2012 and inspected
at the Blue Coast Laboratory in early September 2012 prior to
processing. Grades of composites received for testing are presented
in Table 2.  


 
---------------------------------------------
Zone                     Au (g/t)    Ag (g/t)
---------------------------------------------
Dyke                         0.73        45.6
---------------------------------------------
Limestone                    0.76       49.25
---------------------------------------------
Limestone/Dyke HG            2.01       123.5
---------------------------------------------
Black Shale                  0.93        46.4
---------------------------------------------
Tuff                          0.8       12.95
---------------------------------------------
Table 2 - Ixtaca Metallurgical Domain Sample Grades                         

 
Metallurgical testwork comprising gravity-recoverable gold (GRG)
testwork, leaching of the gravity tailings, as well as stage- and
bulk flotation tests on each of the 5 zone samples was conducted
between October and December 2012. Initial excellent results for GRG
testing as well as flotation on the HG samples indicated good
potential for these process routes. Combinations of gravity, leaching
and flotation indicate excellent potential for gold and silver
recovery from the resource. Individual metallurgical results for the
zones tested are shown in Table 3. 


 
---------------------------------------------------------------------------
                        Gravity Only Recovery       Flotation Only Recovery
---------------------------------------------------------------------------
Zone                     Au (Wt%)    Ag (Wt%)       Au (Wt%)       Ag (Wt%)
---------------------------------------------------------------------------
Dyke                         48.4         N/A           94.4           87.0
---------------------------------------------------------------------------
Limestone                    58.7         N/A           85.7           79.9
---------------------------------------------------------------------------
Limestone/Dyke HG            58.7         N/A           92.0           88.8
---------------------------------------------------------------------------
Black Shale                  54.9         N/A           93.2           83.5
---------------------------------------------------------------------------
Tuff (Volcanic)              15.1         N/A           52.3           63.2
---------------------------------------------------------------------------
Table 3 -Metallurgical Results for Ixtaca Domain Samples                    

 
Initial process results indicate that treatment of Ixtaca material by
a combination of grinding to a p80 of 100-150 micrometre plus gravity
recovery on the cyclone underflow, with recovery of gold and silver
by means of bulk flotation, followed by intensive leaching of the
combined gravity and flotation concentrates is a viable process route
for the Ixtaca resource. A summary of metallurgical parameters for
the main zones tested for this process route is presented in Table 4. 


 
---------------------------------------------------
Zone                        Overall Recovery       
---------------------------------------------------
                              Au Wt%         Ag Wt%
---------------------------------------------------
Dyke                            96.8           85.3
---------------------------------------------------
Limestone                       88.7           78.3
---------------------------------------------------
Limestone HG                    94.9           87.0
---------------------------------------------------
Black Shale                     95.9           81.8
---------------------------------------------------
Tuff (Volcanic)                 54.1           61.9
---------------------------------------------------
Table 4 - Overall Projected Gravity + Flotation + Intensive Leach Recoveries

 
Further metallurgical work, including process optimization of
flotation and leaching responses and investigation of alternate
reagent combinations on existing and fresh domain samples is planned
for 2013. 
QAQC and Reporting 
Almaden is currently in the final stages of preparing the NI 43-101
Tuligtic Project Technical Report, which will contain details of the
mineral resource estimate and the recent metallurgical test work.
This report is required to be announced and filed on SEDAR and the
Almaden website within 45 days of this news release and is authored
by Kris Raffle, P.Geo. of APEX Geoscience Ltd., Gary Giroux, M.A.Sc.,
P.Eng. of Giroux Consultants Ltd. and Dr. Andrew Bamber, P.Eng. of
MineSense Ltd. all of whom act as independent consultants to the
Company, are Qualified Persons as defined by National Instrument
43-101 ("NI 43-101") and have reviewed and approved the contents of
this news release. The metallurgical testing work was conducted by
Blue Coast Group, Parkesville, British Columbia. The metallurgical
testing results were reviewed by independent metallurgical engineer
Dr. Andrew Bamber, P.Eng. who authored the above summary of the
metallurgical test work. 
The analyses used in the preparation of the resource statement were
carried out at ALS Chemex Laboratories of North Vancouver using
industry standard analytical techniques. For gold, samples are first
analysed by fire assay and atomic absorption spectroscopy ("AAS").
Samples that return values greater than 10 g/t gold using this
technique are then re-analysed by fire assay but with a gravimetric
finish. Silver is first analysed by Inductively Coupled Plasma -
Atomic Emission Spectroscopy ("ICP-AES"). Samples that return values
greater than 100 g/t silver by ICP-AES are then re analysed by
HF-HNO3-HCLO4 digestion with HCL leach and ICP-AES finish. Of these
samples those that return silver values greater than 1,500 g/t are
further analysed by fire assay with a gravimetric finish. Blanks,
field duplicates and certified standards were inserted into the
sample stream as part of Almaden's quality assurance and control
program which complies with National Instrument 43-101 requirements.
In addition to in-house QAQC measures employed by Almaden, Kris
Raffle, P.Geo. completed an independent review of Almadens drill hole
and QAQC databases. The review included an audit of approximately 10%
of drill core analyses used in the mineral resource estimate. A total
of 6,826 database gold and silver analyses were verified against
original analytical certificates. Similarly, 10% of the original
drill collar coordinates and downhole orientation survey files were
checked against those recorded in the database; and select drill
sites were verified in the field by Kris Raffle, P.Geo. The QAQC
audit included independent review of blank, field duplicate and
certified standard analyses. All QAQC values falling outside the
limits of expected variability were flagged and followed through to
ensure completion of appropriate reanalyses. No discrepancies were
noted within the drill hole database, and all QAQC failures were
dealt with and handled with appropriate reanalyses. The mineral
resource estimate referenced in this press release was prepared by
Gary Giroux, P.Eng., an independent Qualified Person as defined by NI
43-101.  
Cautionary Note concerning estimates of Indicated and Inferred
Mineral Resources: 
This news release uses terms that comply with reporting standards in
Canada and certain estimates are made in accordance with Canadian
National Instrument NI 43-101 ("NI 43 101"). NI 43 101 is a rule
developed by the Canadian Securities Administrators that establishes
Canadian standards for all public disclosure an issuer makes of
scientific and technical information concerning mineral projects.
These standards differ significantly from the requirements of the
U.S. Securities and Exchange Commission ("SEC"), and mineral resource
information contained herein may not be comparable to similar
information disclosed by United States companies. 
This news release uses the terms "indicated mineral resources" and
"inferred mineral resources" to comply with reporting standards in
Canada. We advise United States investors that while such terms are
recognized and required by Canadian regulations, the SEC does not
recognize them. United States investors are cautioned not to assume
that any part or all of the mineral deposits in such categories will
ever be converted into mineral reserves under SEC definitions. These
terms have a great amount of uncertainty as to their existence, and
great uncertainty as to their economic and legal feasibility.
Therefore, United States investors are also cautioned not to assume
that all or any part of the "indicated mineral resources" or
"inferred mineral resources" exist. In accordance with Canadian
rules, estimates of "inferred mineral resources" cannot form the
basis of feasibility or other economic studies. 
It cannot be assumed that all or any part of the "indicated mineral
resources" or "inferred mineral resources" will ever be upgraded to a
higher category.  
About Almaden 
Almaden is a well-financed (cash, gold inventory and equity
investments totalling approximately $31 MM as of January 15th, 2013)
mineral exploration company working in North America. The company has
assembled mineral exploration projects, including the Ixtaca Zone and
the Tuligtic Project, through its grass roots exploration efforts.
While the properties are largely at early stages of development they
represent exciting opportunities for the discovery of significant
gold, silver and copper deposits as evidenced at Ixtaca. Almaden's
business model is to find and acquire mineral properties and develop
them by seeking option agreements with others who can acquire an
interest in a project by making payments and exploration
expenditures. Through this means the company has been able to expose
its shareholders to discovery and capital gain without the funding
and consequent share dilution that would be required if the company
were to have developed these projects without a partner. The company
intends to expand this business model, described by some as prospect
generation, by more aggressively exploring several of its projects
including the Ixtaca Zone. 
On Behalf of the Board of Directors 
Morgan J. Poliquin, Ph.D., P.Eng., President, CEO and Director 
Almaden Minerals Ltd. 
Except for the statements of historical fact contained herein,
certain information presented constitutes "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and Canadian securities
laws. Such forward-looking statements, including but not limited to,
those with respect to potential expansion of mineralization,
potential size of mineralized zone, and size and timing of
exploration and development programs, estimated project capital and
other project costs and the timing of submission and receipt and
availability of regulatory approvals involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievement of Almaden to be materially different from
any future results, performance or achievements expressed or implied
by such forward-looking statements. Such factors include, among
others, risks related to international operations and joint ventures,
the actual results of current exploration activities, conclusions of
economic evaluations, uncertainty in the estimation of mineral
resources, changes in project parameters as plans continue to be
refined, environmental risks and hazards, increased infrastructure
and/or operating costs, labour and employment matters, and government
regulation and permitting requirements as well as those factors
discussed in the section entitled "Risk Factors" in Almaden's Annual
Information form and Almaden's latest Form 20-F on file with the
United States Securities and Exchange Commission in Washington, D.C.
Although Almaden has attempted to identify important factors that
could cause actual results to differ materially, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate as actual results and future events could differ
materially from those anticipated in such statements. Almaden
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, other than as required pursuant to
applicable securities laws. Accordingly, readers should not place
undue reliance on forward-looking statements. 
Neither the Toronto Stock Exchange (TSX) nor the NYSE MKT have
reviewed or accepted responsibility for the adequacy or accuracy of
the contents of this news release which has been prepared by
management. 
Contacts:
Almaden Minerals Ltd.
604.689.7644
604.689.7645 (FAX)
www.almadenminerals.com
 
 
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