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Almaden Minerals Ltd.
Summary
| Project: | Tuligtic | |
|---|---|---|
| Deposit: | Tuligtic | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 10/12/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 12-10-2016: Almaden Minerals Ltd. announces an Exploration/Drilling Update report for its Tuligtic deposit at the Tuligtic project. Drilling results incl. 24.20m @ 2.37g/t Au, 98.1g/t Ag from 137m. Vancouver, B.C. Almaden Minerals Ltd. (“Almaden” or “the | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Norm Dircks (Internal) | |
| ABSTRACT: | Vancouver, B.C. Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX: AMM; NYSE MKT: AAU) is pleased to announce further assay results from Almaden’s ongoing exploration and development program at the Company’s Tuligtic project, Mexico. Results from drill holes TU-16-467, 468 and 469, all drilled on section 10+625 East have been received. Hole TU-16-465 intersected what is likely a new zone of high grade veining within the Amended PEA pit, while all three holes intersected significant mineralisation and veining immediately outside of the Amended PEA pit. The holes were all drilled from the same pad and intersected the previously defined subvertical Ixtaca North vein zone as well as the new zones of veining. 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. Currently, geotechnical drilling relating to ongoing pre-feasibility work is nearing completion while exploration drilling is ongoing and further exploration results will be reported once received. Recently the Company released a positive Preliminary Economic Assessment (“PEA”) on the Ixtaca deposit (see news release dated December 9th, 2015). Approximately 97% of the mineral resources incorporated into the updated PEA mine plan were in the Measured and Indicated categories. | |
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