Almaden Minerals Ltd. ("Almaden", "the Company") (TSX: AMM)(AMEX: AAU)
is pleased to report that it has received the remaining assay results
from core hole 07CBN-002 and all of 08CBN-003 from operating partner
Canadian Gold Hunter Corp. ("CGH")(TSX: CGH) the second and third
diamond-drill holes CGH have completed at the Caballo Blanco project in
Veracruz, Mexico. Core hole 07CBN-003 intersected 1.04 g/t gold over
82.30 meters in an iron-oxide-cemented silica breccia. The hole was
lost in a fault zone at a depth of 246.9 meters. Drillhole CBN-002 was
completed to a depth of 293.5 meters. The hole assayed 0.60 g/t gold
over a length of 216.41 meters, within which a higher grade section
grades 1.12 g/t gold over 13.32 meters, as previously reported by the
Company in its news release of March 6, 2008.
J.D. Poliquin, Chairman of Almaden, commented, "We at Almaden are
very pleased with the work being conducted by our partner Canadian Gold
Hunter and are very encouraged by these results. We look forward to the
results to come from the aggressive drill program now underway."
Complete assay results for 07CBN-002 and 003 are listed below.
--------------------------------------------------------------------------- Depth Interval Width Au Ag Drill Hole Az/Angle (m) (m) (m) g/t g/t --------------------------------------------------------------------------- 07CBN-002 090 degrees/ 293.5 38.71-255.12 216.41 0.60 3.1 -50 degrees --------------------------------------------------------------------------- including 38.71-104.24 65.53 0.76 3.9 --------------------------------------------------------------------------- and 85.95-99.27 13.32 1.03 4.1 including --------------------------------------------------------------------------- and 230.73-255.12 24.39 1.01 9.5 including ---------------------------------------------------------------------------
Both holes were drilled in the Cerro la Paila target area
(formerly referred to as Cerro la Cruz) within the Northern Zone
high-sulphidation gold system, which covers an area of some 20 square
km. The holes were targeted on a zone of very high resistivity defined
by a detailed I.P. survey carried out in 2007. The high resistivity
target extends over a N-S distance of 800 to 900 meters with widths up
to 450 meters (see attached map) and substantial, but as yet
undetermined, depth extent. In places, the resistivity anomaly is
buried below low-resistivity volcanic rocks. Where the resistivity high
extends to surface, iron-rich silica breccias are exposed and gold soil
and rock geochemical anomalies are extensive.
Two core rigs currently are operating in the Cerro la Paila gold
target. CGH has informed Almaden that in the present phase of the drill
program, CGH plans to test the target with at least 28 core holes
amounting to about 7,000 meters.
Under the terms of a 2007 agreement, CGH has an option to earn a 70%
interest in the Caballo Blanco project from Almaden by issuing 1
Million shares of CGH (completed), making a US$500,000 payment
(completed), spending US$12.0 Million on the project over 6 years (of
which US$1.5 Million is a firm commitment) and funding all ongoing
costs required for the completion of a bankable feasibility study.
The geological data in this news release were verified by qualified
person Jan Christoffersen, P. Eng., Vice President of Canadian Gold
Hunter Corp. Appropriate quality control and quality assurance
protocols are utilized on the program. Standard reference samples and
various duplicates are inserted in each batch of assays. Drill core
samples are cut by saw on site and sample splits are shipped for
preparation to ALS Chemex in Guadalajara, Mexico. Sample pulps are sent
to ALS Chemex in North Vancouver, B.C., Canada and analyzed for gold by
fire assay and for silver and 34 other trace and major elements by
ICP-MS in accordance with standard industry practices.
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 where others are responsible
for ongoing exploration and development. 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., President, COO and Director
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.
Contacts: Almaden Minerals Ltd.
Morgan J. Poliquin, M.Sc., P.Eng.
President, COO and Director
(604) 689-7644
(604) 689-7645 (FAX)
Website: www.almadenminerals.com
