Almaden Hits 16.40 M of 2.25 G/T GOLD and 25.3 G/T Silver and 10.50 M of 2.45 G/T GOLD and 24.4 G/T Silver IN Upper Portion of PFS Pit
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NEWS RELEASE
December 20th, 2017
Trading Symbols:
TSX: AMM; NYSE American: AAU
www.almadenminerals.com
ALMADEN HITS 16.40 M OF 2.25 G/T GOLD AND 25.3 G/T SILVER
AND 10.50 M OF 2.45 G/T GOLD AND 24.4 G/T SILVER IN UPPER PORTION OF PFS PIT
Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX : AMM ; NYSE American: AAU) is pleased to
announce new assay results from Almaden’s ongoing exploration and development program at the Company’s
Tuligtic project, Mexico. Today’s results are from holes TU-17-508, 517, 521, 522, 524, 525, 526 and 528 which
were drilled to follow -up h ole TU-17-504 (announced August 23, 2017) that intersected new and significant
mineralisation in an upper portion of the Pre-Feasibility Study (“PFS”) pit which was modelled as waste material
in the Company’s PFS. These latest results confirm th e discovery of a new zone of mineralisation in the
volcanic and limestone lithologies. Highlights include the following intercepts:
Hole TU-17-508 SECTION 10+700 EAST Az. 150, Dip -48
46.00 meters @ 0.74 g/t Au and 26.2 g/t Ag
Including 27.50 meters @ 1.02 g/t Au and 38.6 g/t Ag
16.40 meters @ 2.25 g/t Au and 25.3 g/t Ag
Hole TU-17-517 SECTION 10+650 EAST Az. 150, Dip -70
24.00 meters @ 0.62 g/t Au and 15.1 g/t Ag
Including 6.00 meters @ 1.86 g/t Au and 15.1 g/t Ag
Hole TU-17-521 SECTION 10+675 EAST Az. 150, Dip -60
16.50 meters @ 0.56 g/t Au and 9.8 g/t Ag
Including 4.00 meters @ 1.02 g/t Au and 21.6 g/t Ag
Hole TU-17-522 SECTION 10+675 EAST Az. 150, Dip -50
50.50 meters @ 0.73 g/t Au and 11.4 g/t Ag
Including 10.50 meters @ 2.45 g/t Au and 24.4 g/t Ag
Hole TU-17-524 SECTION 10+675 EAST Az. 150, Dip -82
13.15 meters @ 0.70 g/t Au and 8.3 g/t Ag
Including 4.00 meters @ 1.31 g/t Au and 18.9 g/t Ag
Hole TU-17-525 SECTION 10+700 EAST Az. 150, Dip -62
32.00 meters @ 0.82 g/t Au and 25.0 g/t Ag
Including 9.35 meters @ 2.01 g/t Au and 42.9 g/t Ag
Hole TU-17-526 SECTION 10+700 EAST Az. 150, Dip -75
14.70 meters @ 0.91 g/t Au and 26.6 g/t Ag
Hole TU-17-528 SECTION 10+700 EAST Az. 150, Dip -87
10.25 meters @ 1.16 g/t Au and 25.6 g/t Ag
And 2.00 meters @ 1.21 g/t Au and 375.8 g/t Ag
J.D. Poliquin, chairman of Almaden stated, “We are very encouraged to be outlining this new mineralized zone
in an area modelled as waste for stripping within our PFS pit, and look forward to the inclusion of this new zone
in future mine plans. Ongoing drilling will continue to seek more such zones even as the engineering work and
feasibility study progress.”
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About the Ixtaca Deposit Feasibility Program
The Company has selected independent engineers Moose Mountain Technical Services (“MMTS”) to lead the
feasibility study. Various feasibility-related programs are currently underway, including:
Feasibility-level engineering design;
Additional geotechnical evaluations in areas of infrastructure and pit slope;
Continued monitoring of water quality and flow;
Metallurgical test work to further refine the process flowsheet;
The Comisión Federal de Electricidad (CFE) , the state -owned electric utility of Mexico , has confirmed
the availability of power from its substation located 27 km from the Ixtaca Project ;
Assessment of contractors suitable to complete site access road improvements required for the mine
construction.
MMTS is an association of Geologists, Engineers and Technicians providing experienced knowledge in Geology,
Mine Engineering, and Metallurgical Services and Support to the mining industry for over 15 years. Through
their network of associates , they provid e an integrated team of experts and QP s. Services range from early
grassroots exploration and development, block model builds, resource and reserve estimates, advanced
planning and studies for mine proposals (including operational support), process design and permitting process
guidance and support. MMTS has experience working on coal, gold, silver, copper, molybdenum, and tungsten
deposits throughout North and South America and around the world. A list of specific projects worked on by
MMTS can be found at www.moosemmc.com.
About the Ixtaca Drilling Program and the Ixtaca Zone
The Ixtaca Zone is a blind discovery made by the Company in 2010 on claims staked by the Company. The
deposit is an epithermal gold -silver deposit, mostly hosted by veins in carbonate units and crosscutting dykes
(“basement rocks”) with a minor component of disseminated mineralisation hosted in overlying volcanic rocks.
The Ixtaca deposit is located in a developed part of Mexico in Puebla State, the location of significant
manufacturing investments including Volkswagen and Audi plants. The deposit is accessed by pav ed road and
is roughly 30 kilometres from an industrial park with rail service where significant manufacturers such as
Kimberly Clarke have facilities. Any potential mining operation at Ixtaca would be located in an area previously
logged or cleared with negligible to no current land usage.
The Company has access to the entire project area and works closely with local officials and residents. The
Company has employed roughly 70 people in its exploration program who live local to the Ixtaca deposit. For
example, local employees have made up virtually all the drilling staff and have been trained on the job to
operate the drill rigs being used at the project . The Company has implemented a comprehensive science based
and objective community relations and educat ion program for employees and all local stakeholders to
transparently explain the exploration and development program underway as well as the potential impacts and
benefits of any possible future mining operation at Ixtaca. The Company regards the local in habitants to be
major stakeholders in the Ixtaca deposit’s future along with the Company’s shareholders. Every effort is being
made to create an open and clear dialogue with our stakeholders to ensure that any possible development
scenarios that could evol ve from the feasibility study work are properly understood and communicated
throughout the course of the Company’s exploration and development program. To better explain the impacts of
a mining operation at Ixtaca the Company has conducted numerous tours f or local residents to third party
operated mines in Mexico so that interested individuals can form their own opinions of mining based on first -
hand experience. The Company invites all interested parties to visit www.almadenminerals.com to find out more
about our community development, education and outreach programs.
On December 12, 2017 Almaden announced the completion of a Social Impact Assessment (“SIA”) of the Ixtaca
Project completed by Juan -Pablo Gudiño of GMI Consulting (“GMI”). GMI is a Mexico City -based group which
provides social and environmental consulting services to government and industry. In 2015 it wa s recognized by
Consulting Magazine as one of the 50 most important consulting companies in Mexico. The work to complete
the SIA was carried ou t by an interdisciplinary group of nine anthropologists, ethnologists and sociologists
graduated from various universities, who lived in community homes within the Focus Area during the study to
allow for ethnographic immersion and an appreciation for the local customs and way of life . The SIA sought
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voluntary participation from broad, diverse population groups, with specific attention to approximately one
thousand persons in the Focus Area. Key points regarding the study include the following:
GMI found t hat Almaden Minerals’ consultation process complies with the Equator Principles and
International Best Practices;
All the fieldwork is backed up by audio, privacy notices, and photographs which demonstrate the
voluntary participation of the interviewees, and their consent to be included in the study;
The SIA included the participation of men, women, the elderly, boys and girls;
The SIA concluded that Almaden Minerals had consulted widely with the Focus Area communities, the
Ixtaca project was well understoo d, and that the SIA itself was successful in providing people with an
opportunity to clearly express their views on the impacts of Ixtaca project development.
Technical Details of the Ixtaca Drilling Program
The Main Ixtaca and Ixtaca North Zones of veining are interpreted to have a north -easterly trend. Holes to date
suggest that the Main Ixtaca and Ixtaca North Zones are sub vertical with local variations. This interpretation
suggests that true widths range from approximately 35% of intersected widths for a -70 degree hole to 94% of
intersected widths for a -20 degree hole. The drilling completed to date has traced mineralisation over 1,000
meters along this northeast trend. The Chemalaco (Northeast Extension) Zone strikes roughly nor th-south (340
azimuth) and dips at 55 degrees to the west. This interpretation suggests that true widths range from
approximately 82% of intersected widths for a -70 degree hole to 99% of intersected widths for a -40 degree
hole. The orientations of the new vein zones intersected in the holes reported today are not well understood and
true widths cannot be calculated at this time.
The Ixtaca gold-silver deposit is largely comprised of zones of abundant high grade epithermal veins with low
base metals hos ted in barren limestone. Gold and silver in these veins occurs largely as electrum (an alloy of
gold and silver) and other leachable sulphides. The boundaries of these vein zones, or swarms, with un -
mineralised limestone are well defined both visually and by assay results and are therefore readily modelled for
geologic and resource purposes. The many individual veins and veinlets within the vein swarms branch and re -
connect, as well as locally change strike and dip, pinch and swell. The wireframe models con structed to define
the overall vein zones therefore contain interspersed irregular zones of barren limestone wallrock. This inclusion
of limestone dilution in the vein zone wireframes results in average reserve grades of 1.17 g/t AuEq (80.5 g/t
AgEq), as reported in the Company’s Pre-Feasibility Study which was filed on SEDAR in May, 2017 (the “PFS”).
Nevertheless, the actual occurrence of gold and silver in the limestone hosted Main Ixtaca Zone is in the form of
high grade veins and veinlets, not, for exam ple, as widespread low grade disseminated mineralisation. These
geologic and mineralogic observations have very positive mining and recovery implications as defined in the
PFS released by the Company:
The near surface occurrence and broad nature of the I xtaca gold-silver deposit vein zones allow for low-
cost bulk open pit mining as opposed to expensive underground methods often required for narrow
individual veins. At the time of future mining, the exposure of the vein system on mine benches may
allow for the visual definition between limestone waste and epithermal veining and improvement to the
geologic model from that generated from exploration drill holes. An improved mine bench scale geologic
model, along with appropriate ore control systems, may allow for more selective mining and waste
definition of the vein swarms;
The contrast between barren limestone and the non -refractory gold and silver ore and vein mineralogy
allows for simple bulk gravity and flotation to remove the barren limestone to create low mass pull and
volume concentrates. The PFS demonstrates that a bulk flotation concentrate of gravity tails over the
mine life will average approximately 4.3 g/t gold and 390 g/t silver with a mass pull of ~8%;
Leaching these limestone domain concentra tes results in very high overall gold and silver recoveries
(both average approximately 90%) into doré on site without the need for expensive smelting as is the
case for many base metal rich precious metal deposits.
Mr. Norm Dircks, P.Geo., a qualified p erson (“QP”) under the meaning of NI 43 -101, is the QP and project
manager of Almaden’s Ixtaca program and reviewed the technical information in this news release . The
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analyses reported were carried out at ALS Chemex Laboratories of North Vancouver using industry standard
analytical techniques. For gold, samples are first analysed by fire assay and atomic absorption spectroscopy
(“AAS”). Samples that return values greater than 10 g/t gold using this technique are then re -analysed by fire
assay but with a g ravimetric finish. Silver is first analysed by Inductively Coupled Plasma - Atomic Emission
Spectroscopy (“ICP -AES”). Samples that return values greater than 100 g/t silver by ICP -AES are then re
analysed by HF-HNO3-HCLO4 digestion with HCL leach and ICP -AES finish. Of these samples those that return
silver values greater than 1,500 g/t are further analysed by fire assay with a gravimetric finish. Intervals that
returned assays below detection were assigned zero values.
Blanks, field duplicates and certifi ed 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.
About Almaden
Almaden Minerals Ltd. owns 100% of the Tuligtic project in Puebla State, Mexico, subject to a 2.0% NSR royalty
held by Almadex Minerals Limited . Tuligtic covers the Ixtaca Gold -Silver Deposit, which was discovered by
Almaden in 2010.
On Behalf of the Board of Directors
“Morgan Poliquin”
Morgan J. Poliquin, Ph.D., P.Eng.
President, CEO and Director
Almaden Minerals Ltd.
Neither the Toronto Stock Exchange (TSX) nor the NYSE American have reviewed or accepted responsibility for the adequacy or accuracy of the contents of
this news release which has been prepared by management. Except for the statements of historical fact contained herein, certa in information presented
constitutes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian sec urities laws.
Such forward-looking statements, including but not limited to, those with respect to potential expansion of miner alization, potential size of mineralized zone, and
size and timing of exploration and development programs, estimated project capital and other project costs and the timing of submission and receipt and
availability of regulatory approvals involve known an d unknown risks, uncertainties and other factors which may cause the actual results, performance or
achievement of Almaden to be materially different from any future results, performance or achievements expressed or implied b y such forward -looking
statements. Such factors include, among others, risks related to international operations and joint ventures, the actual results of c urrent exploration activities,
conclusions of economic evaluations, uncertainty in the estimation of mineral resources, changes in project parameters as plans continue to be refined,
environmental risks and hazards, increased infrastructure and/or operating costs, labour and employment matters, and governme nt regulation and permitting
requirements as well as those factors discussed in the section entitled "Risk Factors" in Almaden's Annual Information form and Almaden's latest Form 20 -F on
file with the United States Securities and Exchange Commission in Washington, D.C. Although Almaden has attempted to identify important factors that could
cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate as actual results and future events co uld differ materially from those anticipated in such statements. Almaden
disclaims any intention or obligation to update or revise any forward -looking statements, whether as a result of new information, future events or otherwise, other
than as required pursuant to applicable securities laws. Accordingly, readers should not place undue reliance on forward -looking statements.
Contact Information:
Almaden Minerals Ltd.
Tel. 604.689.7644
Email: [email protected]
http://www.almadenminerals.com/