VANCOUVER, BRITISH COLUMBIA–(Marketwire – June 15, 2011) – Almaden Minerals Ltd. (TSX:AMM)(NYSE Amex:AAU) (“Almaden” or “the Company”) announces that it has received preliminary results from a recently completed Titan 24 deep penetration geophysical survey on its 100% owned Willow project, situated near Yerrington Nevada. The Titan survey results have outlined several large areas of high chargeability, both near to surface and at depth (see attached figures). The chargeability anomalies provide several large target areas for follow-up drill testing.
The Willow project covers an area of hydrothermal alteration interpreted to represent the lithocap to a large preserved porphyry copper-gold system. Geologic and alteration mapping has outlined a roughly 2 by 2 kilometer area of intense hydrothermal alteration characterized by silicification, brecciation and alunite, kaolinite and dickite alteration, all features typical of a high sulphidation system overlying a porphyry intrusion at depth. Supporting fluid inclusion analysis confirms the presence of a porphyry system. Soil stream sediment and rock samples have returned anomalous values of copper, gold, molybdenum, silver and trace elements typical of this geologic environment.
The Titan 24 Deep Earth Imaging system is the most advanced electrical earth imaging technology available. Measuring parameters of DC (resistivity), IP (chargeability) and MT (magnetotelluric resistivity), the Titan 24 measures to depths of 750 meters with IP and to depths of more than 1.5 kilometers with MT data. These depths and multi-parameter data make the system one of the best options available for obtaining subsurface information related to geologic structure and for the direct detection of mineral deposits.
“The results of the Titan deep earth imaging confirm the deep copper-gold porphyry potential of the Willow project. Almaden awaits final interpretation from Quantec prior to planning a diamond drilling program to test these exciting new targets. Drill permits have already been received,” stated Chairman, J. Duane Poliquin.
Almaden is a well-financed (no debt, approximately $C25 MM in working capital) mineral exploration company working in North America. The Company has assembled mineral exploration projects, including Tuligtic, through its grass roots exploration efforts. While the properties are largely at early stages of development they represent exciting opportunities for the discovery of significant gold, silver and copper deposits as evidenced at Ixtaca. Currently six projects (Caldera, Caballo Blanco, Tropico, Nicoamen River, Matehuapil and Merit), are optioned to separate third parties who each have the right to acquire an interest in the respective project from Almaden through making certain payments and exploration expenditures. Four further projects are held in joint ventures. Almaden also holds a 2% NSR interest in 11 projects. Almaden’s business model is to find and acquire mineral properties and develop them by seeking option agreements with others who can acquire an interest in a project by making payments and exploration expenditures. Through this means the Company has been able to expose its shareholders to discovery and capital gain without the funding and consequent share dilution that would be required if the Company were to have developed these projects without a partner. The Company intends to expand this business model, described by some as prospect generation, by more aggressively exploring several of its projects including the Ixtaca Zone.
On Behalf of the Board of Directors
Morgan J. Poliquin, Ph.D., P.Eng.,
President, CEO and Director
Almaden Minerals Ltd.