Within and Outside Amended PEA Pit, Hits 105.00 Meters of 1.20 G/T GOLD, 87.1 G/T Silver and 38.60 Meters of 1.08 G/T GOLD and 106.2 G/T Silver
NEWS RELEASE
January 18 th , 2017
Trading Symbols:
TSX: AMM; NYSE MKT: AAU
www.almadenminerals.com
ALMADEN DRILLS FURTHER NEW HIGH GRADE MINERALISATION
WITHIN AND OUTSIDE AMENDED PEA PIT,
HITS 105.00 METERS OF 1.20 G/T GOLD, 87.1 G/T SILVER AND
38.60 METERS OF 1.08 G/T GOLD AND 106.2 G/T SILVER
Almaden Minerals Ltd. (“Almaden” or “the Company”; AMM: TSX; AAU: NYSE MKT) is pleased to
announce further assay results from Almaden’s ongoing exploration and development program at the
Company’s Tuligtic project, Mexico. Results reported today are from drill holes TU-16-482 to 486, 488, 490 and
492 drilled on sections 10+575, 700, 725 and 750 East. The holes intersected significant mineralisation and
veining inside or immediately outside of the Amended PEA pit including the previously defined subvertical Ixtaca
North vein zone, as well as potential new zones of veining. Highlights from these drillholes include the following
intercepts:
Hole TU-16-482 SECTION 10+700 EAST Az. 330, Dip -20
1.00 meter @ 2.23 g/t Au and 119.5 g/t Ag Ixtaca North Zone?
Hole TU-16-483 SECTION 10+575 EAST Az. 340, Dip -50
8.00 meters @ 1.12 g/t Au and 51.6 g/t Ag Ixtaca North Zone
34.20 meters @ 1.11 g/t Au and 72.5 g/t Ag Ixtaca North Zone
Hole TU-16-484 SECTION 10+725 EAST Az. 330, Dip -30
96.00 meters @ 0.34 g/t Au and 41.5 g/t Ag Ixtaca North Zone?
Including 5.50 meters @ 0.78 g/t Au and 144.0 g/t Ag Ixtaca North Zone?
Hole TU-16-485 SECTION 10+575 EAST Az. 340, Dip -70
38.60 meters @ 1.08 g/t Au and 106.2 g/t Ag Ixtaca North Zone
Including 7.00 meters @ 2.20 g/t Au and 253.3 g/t Ag Ixtaca North Zone
32.60 meters @ 1.39 g/t Au and 44.1 g/t Ag Ixtaca North Zone?
Including 7.50 meters @ 3.26 g/t Au and 59.6 g/t Ag Ixtaca North Zone?
Hole TU-16-486 SECTION 10+725 EAST Az. 330, Dip -70
105.00 meters @ 1.20 g/t Au and 87.1 g/t Ag Ixtaca North Zone
Including 5.00 meters @ 1.89 g/t Au and 382.2 g/t Ag Ixtaca North Zone
And 10.50 meters @ 4.70 g/t Au and 132.3 g/t Ag Ixtaca North Zone
Hole TU-16-488 SECTION 10+725 EAST Az. 330, Dip -85
40.00 meters @ 0.49 g/t Au and 79.0 g/t Ag Ixtaca North Zone?
Including 3.00 meters @ 2.24 g/t Au and 326.5 g/t Ag Ixtaca North Zone?
Hole TU-16-490 SECTION 10+725 EAST Az. 150, Dip -85
6.00 meters @ 0.50 g/t Au and 365.7 g/t Ag New Vein Zone?
Including 2.00 meters @ 1.04 g/t Au and 898.0 g/t Ag Ixtaca North Zone?
Hole TU-16-492 SECTION 10+750 EAST Az. 330, Dip -30
3.00 meters @ 0.19 g/t Au and 132.0 g/t Ag New Vein Zone?
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The mineralisation reported today confirms the presence of additional important zones of veining immediately
adjacent to the Ixtaca Zone and points to the exploration potential of the project in general. The Ixtaca Zone was
discovered in 2010 beneath a large area of largely barren clay alteration which has been confirmed
subsequently to represent the upper portions of a gold and silver bearing epithermal vein system. Since the
discovery Almaden has focussed its efforts on the development of the Ixtaca Zone, however today’s results
clearly show the potential for additional mineralisation, not only proximal to the deposit, but more broadly project
wide beneath the high level clay alteration.
Earlier in 2016 the Company released a positive Preliminary Economic Assessment (“PEA”) on the Ixtaca
deposit (see news release dated January 22, 2016). Approximately 97% of the mineral resources incorporated
into the updated PEA mine plan were in the Measured and Indicated categories.
J.D. Poliquin, chairman of Almaden stated, “Today’s results once again show the presence of the high grade
veins on the Tuligtic project. While we are now focussed on developing the Ixtaca deposit into a significant
precious metals producer in Mexico, and are currently busy with engineering work and studies towards
producing a PFS, this exploration drilling demonstrates additional resource potential both laterally and, because
we are at the top of a fully preserved epithermal system, future exploration drilling will also test for feeder veins
beneath the Ixtaca sheeted vein zone.”
About the Ixtaca Deposit PFS Program
Development related activities are currently underway, including advanced engineering and environmental
baseline studies to meet the requirements of a PFS and the submittal of an environmental permit application
and risk assessment to the Mexican regulatory agency responsible for mine permitting. To date Almaden has
completed or initiated the following studies:
Hydrologic studies including the drilling of water test wells and installation of hydrologic equipment for
baseline monitoring of existing subsurface water flow and quality on the project site (installation
complete, monitoring ongoing);
Baseline surface water quality and flow measurements (monitoring ongoing);
Geochemical characterization of rock materials (complete);
Condemnation drilling of areas where mine infrastructure is planned (complete);
Geotechnical drilling to confirm foundation, footing and subsurface material quality (complete);
Geomechanical drilling to confirm rock strength, hardness and pit slope parameters (complete);
PFS level metallurgical test work (ongoing);
Flora and fauna studies (complete);
Installation of a weather station (complete).
The Company has selected independent engineers Moose Mountain Technical Services and Knight Piesold Ltd.
to prepare a PFS study. 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 provide 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.
KP is an international consulting firm and recognized leader in providing engineering and environmental
services. KP’s expertise has been applied to hundreds of surface and underground mining projects in all stages
of development and a broad range of environmental settings. KP provides industry leading services in water and
waste management, tailings disposal, heap leach pads, rock mechanics and environmental services, and has
been recognized for innovative services that meet high standards of reliability, security and cost effectiveness.
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.
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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 paved road and
is roughly 20 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 education 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 inhabitants 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 evolve from the anticipated PFS 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 for 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.
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 north-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.
Mr. Norm Dircks, P.Geo., a qualified person (“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
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 gravimetric 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-HNO 3-HCLO 4 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 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.
Cautionary Note concerning estimates of Measured, Indicated and Inferred Mineral Resources
This news release uses terms that comply with reporting standards in Canada and certain estimates are made
in accordance with Canadian National Instrument 43-101 (“NI 43-101”). NI 43-101 is a rule developed by the
Canadian Securities Administrators that establishes Canadian standards for all public disclosure an issuer
makes of scientific and technical information concerning mineral projects. These standards differ significantly
from the requirements of the U.S. Securities and Exchange Commission (“SEC”), and mineral resource
information contained herein may not be comparable to similar information disclosed by United States
companies.
This news release uses the terms “measured mineral resources”, “indicated mineral resources” and “inferred
mineral resources” to comply with reporting standards in Canada. We advise United States investors that while
such terms are recognized and required by Canadian regulations, the SEC does not recognize them. United
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States investors are cautioned not to assume that any part or all of the mineral deposits in such categories will
ever be converted into mineral reserves under SEC definitions. These terms have a great amount of uncertainty
as to their existence, and great uncertainty as to their economic and legal feasibility. Therefore, United States
investors are also cautioned not to assume that all or any part of the “measured mineral resources”, “indicated
mineral resources” or “inferred mineral resources” exist. In accordance with Canadian rules, estimates of
“inferred mineral resources” cannot form the basis of pre-feasibility or other economic studies. It cannot be
assumed that all or any part of the “measured mineral resources”, “indicated mineral resources” or “inferred
mineral resources” will ever be upgraded to a higher category.
About Almaden
Almaden Minerals Ltd. is a well-financed company which 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 MKT 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, certain information presented constitutes
"forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. Such
forward-looking statements, including but not limited to, those with respect to potential expansion of mineralization, 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 and 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 by such forward-looking statements. Such factors
include, among others, risks related to international operations and joint ventures, the actual results of current 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 government 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 could 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/
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