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VANCOUVER, British Columbia, Oct. 07, 2021 (GLOBE NEWSWIRE) — Almaden Minerals Ltd. (“Almaden” or “the Firm”; TSX: AMM; NYSE American: AAU) is happy to report preliminary outcomes from the primary gap drilled in 2021 within the Southeast Alteration Zone (“SE Alteration Zone”) of the Ixtaca property in Puebla State, Mexico. Drilling at Ixtaca has been deliberate to take a phased strategy and can initially concentrate on targets established on the SE Alteration Zone which is situated roughly one kilometre from the Ixtaca deposit space (See Determine 1).
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After the primary gap was deserted in altered volcanic at 75.59m depth, the second gap of this system, TU-21-552 was drilled to a depth of 785.77 m. This gap encountered a extremely altered volcanic unit overlying basement shaley carbonate sedimentary rocks, the transition to which is marked by a basal conglomerate breccia. This geologic succession can be seen within the Ixtaca deposit space. Anomalous pathfinder components in addition to some brief intervals of elevated gold values had been returned from the extremely altered volcanic rocks. Instantly beneath the volcanic unit a number of dykes had been intersected crossing the shale. These dykes are altered, veined and pyritised and are interpreted to be much like the altered dykes seen within the Ixtaca deposit space. Extremely altered and pyritised dykes had been additionally intersected close to the top of the outlet. Gap TU-21-552 is interpreted to have reduce the higher reaches of a big excessive stage epithermal alteration zone. Additional drilling is deliberate and ongoing elsewhere within the SE alteration as exploration continues for brand spanking new as but undiscovered vein programs. An interpreted part for gap TU-21-552 is supplied within the information launch together with a plan exhibiting the SE Alteration Zone and drillhole places. Further extra detailed sampling is being deliberate on as but unsampled intervals from gap TU-21-552.
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Concerning the SE Alteration Zone
Work over the previous a number of months on the SE Alteration Zone has included geophysics and geological mapping. As reported within the Fall of 2020, this space measures about 1.5 kilometres (km) east-west by 1 km north-south and is centred roughly 1 km southeast of the Ixtaca deposit.
The SE Alteration Zone contains argillic (clay-altered) volcanics together with clusters of anomalies recognized from a hyperspectral survey that embody the spectral signatures of essential epithermal alteration minerals corresponding to kaolinite, alunite and buddingtonite.
In November, 2020, the Firm introduced the invention of a number of areas of veining cropping out inside the SE Alteration Zone, and seventeen samples of the veining had been collected and submitted for evaluation to ALS World in Zacatecas, Mexico. All however one pattern returned beneath detection gold and silver, with the exception returning a price of 62 ppb gold. Nevertheless, although the outcrops are leached and weathered, lots of the samples additionally returned elevated values of epithermal pathfinder components that are generally discovered within the greater components of epithermal alteration zones. The presence of pathfinder components in these samples could be very encouraging because it corroborates the Firm view that the SE Alteration Zone may characterize the upper ranges of a possible underlying epithermal system. It’s fairly typical that the upper components of those programs comprise negligible treasured metals values.
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The SE Alteration Zone lies exterior of the present Ixtaca deposit useful resource space, which was the main target of a Feasibility Research (outcomes of which had been introduced by the Firm in December, 2018). A report titled “Ixtaca Gold-Silver Mission, Puebla State, Mexico NI 43-101 Technical Report on the Feasibility Research”, which was ready in accordance with NI 43-101, is offered underneath the Firm’s profile on SEDAR and on the Firm’s web site.
J. Duane Poliquin, Chairman of Almaden, acknowledged, “This primary gap has confirmed the massive scale of the alteration within the SE Alteration and supplied concentrating on for follow-up work which was the target. The unique Ixtaca discovery was made via intelligent geologic meeting of revealed info and on-the-ground statement of subject information. This has resulted within the discovery of an financial gold-silver deposit as outlined within the Feasibility Research, with proof (geologic, geochemical, geophysical) for the opportunity of the same deposit, in addition to the opportunity of deeper treasured/base metallic deposit(s). It is extremely thrilling to return to prospect drilling of a number of the blue sky targets which were recognized on this property.”
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All work performed as a part of this program is being performed in strict accordance with COVID-19 security protocols, and employs native individuals wherever potential.
Norm Dircks, P.Geo., is a Certified Particular person as outlined by Nationwide Instrument 43-101 (“NI 43-101”) and has reviewed and accredited the technical contents of this information launch.
About Almaden
Almaden Minerals Ltd. owns 100% of the Ixtaca venture in Puebla State, Mexico, topic to a 2.0% NSR royalty held by Almadex Minerals Ltd. The Ixtaca deposit hosts a confirmed and possible reserve containing 1.38 million ounces of gold and 85.1 million ounces of silver (73.1 million tonnes grading 0.59 g/t Au and 36.3 g/t Ag). A report titled “Ixtaca Gold-Silver Mission, Puebla State, Mexico NI 43-101 Technical Report on the Feasibility Research”, which was ready in accordance with NI 43-101, is offered underneath the Firm’s profile on SEDAR and on the Firm’s web site. The Ixtaca Gold-Silver Deposit was found by Almaden in 2010.
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On Behalf of the Board of Administrators,
“J. Duane Poliquin”
J. Duane Poliquin, P. Eng
Chairman
Almaden Minerals Ltd.
Ahead Wanting Statements
Sure of the statements and data on this information launch represent “forward-looking statements” inside the that means of the US Personal Securities Litigation Reform Act of 1995 and “forward-looking info” inside the that means of relevant Canadian provincial securities legal guidelines. All statements, apart from statements of historic reality, are forward-looking statements or info. Ahead-looking statements or info on this information launch relate to, amongst different issues: the result or nature of any exploration applications at Ixtaca, and the power of the Firm to adjust to COVID-19 associated well being protocols.
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These forward-looking statements and data mirror the Firm’s present views with respect to future occasions and are essentially based mostly upon various assumptions, together with assumptions in respect of each Almaden’s and the relevant Mexican Authorities’ authorized positions, that, whereas thought of affordable by the Firm, are inherently topic to vital authorized, regulatory, enterprise, operational and financial uncertainties and contingencies, and such uncertainty usually will increase with longer-term forecasts and outlook. These assumptions embody: stability and predictability in Mexico’s mineral tenure, mining, environmental and agrarian legal guidelines and laws, in addition to their utility and judicial selections thereon; continued respect for the rule of legislation in Mexico; costs for gold, silver and base metals remaining as estimated; forex alternate charges remaining as estimated; availability of funds; capital, decommissioning and reclamation estimates; mineral reserve and useful resource estimates; costs for power inputs, labour, supplies, provides and companies (together with transportation); no labour-related disruptions; all essential permits, licenses and regulatory approvals being acquired in a well timed method; the power to safe and preserve title and possession to properties and the floor rights essential for operations; neighborhood assist within the Ixtaca Mission; and the power to adjust to environmental, well being and security legal guidelines. The foregoing checklist of assumptions isn’t exhaustive.
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The Firm cautions the reader that forward-looking statements and data contain identified and unknown dangers, uncertainties and different components which will trigger precise outcomes and developments to vary materially from these expressed or implied by such forward-looking statements or info contained on this information launch. Such dangers and different components embody, amongst others, dangers associated to: political danger in Mexico; crime and violence in Mexico; corruption; environmental dangers, together with environmental issues underneath Mexican legal guidelines and laws; influence of environmental influence evaluation necessities on the Firm’s deliberate exploration and growth actions on the Ixtaca Mission; certainty of mineral title and the result of litigation; neighborhood relations; governmental laws and the power to acquire essential licences and permits; dangers associated to mineral properties being topic to prior unregistered agreements, transfers or claims and different defects in title; modifications in mining, environmental or agrarian legal guidelines and laws and modifications within the utility of requirements pursuant to current legal guidelines and laws which can improve prices of doing enterprise and prohibit operations; in addition to these components mentioned the part entitled “Threat Elements” in Almaden’s Annual Info Kind and Almaden’s newest Kind 20-F on file with the US Securities and Alternate Fee in Washington, D.C. Though the Firm has tried to establish essential components that would have an effect on the Firm and will trigger precise actions, occasions or outcomes to vary materially from these described in forward-looking statements or info, there could also be different components that trigger actions, occasions or outcomes to not be as anticipated, estimated or meant. There might be no assurance that our forward-looking statements or info will show to be correct. Accordingly, readers shouldn’t place undue reliance on forward-looking statements or info. Besides as required by legislation, the Firm doesn’t assume any obligation to launch publicly any revisions to on forward-looking statements or info contained on this information launch to mirror occasions or circumstances after the date hereof or to mirror the incidence of unanticipated occasions.
Contact Info:
Almaden Minerals Ltd.
Tel. 604.689.7644
E mail: information@almadenminerals.com
http://www.almadenminerals.com/
A photograph accompanying this announcement is offered at https://www.globenewswire.com/NewsRoom/AttachmentNg/7bfa026b-9ad7-4d33-bd2b-914c398c0e37
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