Almaden Minerals Ltd. (TSX:AMM)(NYSE Amex:AAU) has reported results from the remaining unreported holes drilled in 2010 at the Company's 100% owned Elk gold project in southern BC.
The holes were drilled into the resource area where recently a 43-101 compliant resource and the results of a positive Preliminary Economic Assessment ("PEA") of the open pit potential have recently been reported (see Almaden news release of January 24, 2011). The 2010 drill program was designed to increase the confidence level of the resource and expand the known mineralisation. Results include broad intervals of gold mineralisation such as 7.22 meters of 2.39 g/t gold (hole SND-10-59) and 19.9 meters of 1.38 g/t gold (SND-10-87). High-grade intersections were also intersected including 1.1 meters of 26.56 g/t Au (hole SND-10-34), 2.45 meters of 15.36 g/t gold (hole SND-10-64), 0.8 meters of 21 g/t Au (hole SND-10-59) and 0.8 meters of 25.7 g/t gold (hole SND-10-79).
Morgan Poliquin, CEO of Almaden commented, "These final results from our 2010 program are continued confirmation of both the high grade and bulk tonnage potential of the Elk deposit. We are excited about the resource we have developed at Elk and the positive results of the recently released Preliminary Economic Assessment."
Brian Alexander, P.Geo., a qualified person under the meaning of National Instrument 43-101, is supervising the 2010 exploration program at the Elk Project and has reviewed the technical information in this news release. The analyses reported were carried out at ALS Chemex Laboratories of North Vancouver using industry standard aqua regia, ICP and fire assay techniques. 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. Intervals that returned assays below detection were assigned zero values. Composites were calculated using a cut-off grade of 0.25 g/t gold and with a maximum of 5 meters internal dilution (values below 0.25 g/t). Reported widths are intersection and not true widths.