Message #5 From:
NewsBot Date: February 27, 2008 07:38:59 AM
Apex Silver Commences Drilling at Almaden's Viky Project, Mexico
Almaden Minerals Ltd. (TSX: AMM)(AMEX: AAU stock message board forums) ("Almaden", "the Company")
is pleased to announce that Apex Silver Mines Ltd. ("Apex Silver") has
commenced a diamond drilling program on Almaden's wholly owned Viky
silver lead zinc project located in western Coahuila State, Mexico.
Under the terms of a February, 2007 option agreement between the
companies, Apex Silver can earn a 60% interest in the property by
making expenditures totaling US$5.6 Million and cash payments of
$US1.35 Million over 5 years from the date of signing. J. Duane
Poliquin, chairman and CEO of Almaden commented, "We are very pleased
to have Apex Silver drilling our Viky project, one of the most exciting
in our portfolio and we look forward to the results of this program."
Almaden has received a 43-101 compliant technical report from Apex
Silver outlining the first year of work and its plans for the current
drill program. The drilling program will consist of a minimum of 2,000
meters designed to target IP chargeability and resistivity responses at
depth and significant silver, lead and zinc values in rock chip and
soil samples taken at surface. Further holes have been laid out
contingent on results of the first phase of drilling.
During 2007 Apex Silver took 363 samples, mostly of rock from
outcrop and float, and alluvium. Of these 71 were rock channel samples
taken over an average width of 2.21 meters (ranging from 0.4 to 7
meters), the analyses of which returned an average of 9.4 g/t silver
(ranging from less than 0.2 to 153 g/t silver), 0.42% lead (ranging
from less than 0.0002 to 11.4 % lead) and 0.38% zinc (ranging from less
than 0.0002 to 5.79 % zinc). In addition 195 rock-chip samples were
taken over an average width of 2.90 meters (ranging from 0.4 to 11.6
meters), the analyses of which returned an average of 16.5 g/t silver
(ranging from less than 0.2 to 776 g/t silver), 1.22% lead (ranging
from less than 0.0002 to 30.00% lead) and 0.53% zinc (ranging from less
than 0.0002 to 14.35% zinc). These significant results, along with the
geophysical survey results from the past work carried by Almaden, are
interpreted by Almaden to be indicative of a high potential mineralized
environment which is presently being drill tested.
The 2007 Apex Silver work program was reviewed by Mr. Bob Blakestad,
Vice President of Exploration for Apex Silver and a qualified person
under the meaning of National Instrument 43-101. Apex Silver employed a
quality control program which included the analysis of duplicates
samples of coarse reject material at a separate laboratory. The samples
were analysed at ALS Chemex labs of Vancouver, BC using industry
standard fire assay, atomic absorption, aqua regia and ICP
methodologies.
About Almaden
Almaden is a mineral exploration and development company with a
track record of making new discoveries in Canada and Mexico. Almaden
currently has an interest in 22 properties that are under active
exploration. Almaden will continue with its successful business model
of identifying new projects through grass roots exploration and
managing risk by forming joint ventures with partner companies which
then carry the cost of exploring and developing our projects. Almaden's
grass roots exploration programs are designed to identify new mineral
exploration projects in mineral terrains geologically permissive for
world-class ore deposits. Almaden is seeking partners with the suitable
business and geological resources to explore and assess the potential
of these projects through drilling.
On Behalf of the Board of Directors
Morgan J. Poliquin, M.Sc., P.Eng.
Statements contained in this news release that are not historical
facts are forward looking statements as that term is defined in the
private securities litigation reform act of 1995. Such forward -looking
statements are subject to risks and uncertainties which could cause
actual results to differ materially from estimated results. Such risks
and uncertainties are detailed in the Company's filing with the
Securities and Exchange Commission.
The Toronto Stock Exchange and American Stock Exchanges have not
reviewed nor accepted responsibility for the adequacy or accuracy of
the contents of this news release which has been prepared by
management.
