ALMADEN MINERALS LTD.
TSX SYMBOL: AMM
JANUARY 7, 2004 - 14:05 ET
Almaden Minerals Ltd.: Discovery and Acquisition of New
Gold Projects, in B.C., Canada
VANCOUVER, BRITISH COLUMBIA--Regional exploration work over the
last two years in southwest British Columbia has identified three
significant new low-sulphidation epithermal gold-silver vein
systems. The area where the three prospects are located was
recognized during an initial reconnaissance program in 2001. Two
of the three properties were identified and acquired in a 2003
field program. A 100% interest was acquired in all three projects
by staking. All three prospects, known as the PV, NIC and SAM are
accessible from nearby towns with excellent infrastructure, yet
they represent new discoveries as there are no previously
documented mineral occurrences or work histories in the area.
The initial area discovered in 2001 is the 1,650 hectare PV
property which covers an area of quartz vein float occurrences.
In 2001 and 2002 sampling of banded quartz-adularia vein and vein
breccia in float returned values up to 43.34 g/t Au with
anomalous silver (Ag), arsenic (As), antimony (Sb), and mercury
(Hg). 117 rock samples of vein and mineralized float taken in
2001 and 2002 ranged from less than 0.5 g/t Au to 43.34 g/t Au
and averaged 0.98 g/t Au. In 2003 a further area of vein float
was discovered from which 15 analyses from fifteen samples of
vein float ranged from 0.12 g/t Au to 3.95 g/t Au. A preliminary
five line induced polarization (IP) program was carried in 2003
and identified several prominent linear high resistivity features
thought to represent quartz veining in the area of anomalous vein
float.
The 300 hectare NIC property was staked in 2003 and covers an
area of mineralized quartz vein occurrences. A total of 40
reconnaissance grab and chip samples collected from float and
outcrop have returned gold analyses averaging 1.63 g/t Au. These
samples include 20 samples with gold values ranging from 0.10 g/t
Au to 23.60 g/t Au and from 1 g/t Ag to 180 g/t Ag. An
outcropping quartz vein and breccia system was identified. Ten
channel samples were taken at various intervals along the across
the strike of the vein system which is exposed in outcrop over a
20 meter strike length. These results include 6.15 g/t over 0.5
meters, 3.72 g/t over 0.7 meters and 2.70 g/t over 1.4 meters.
The 1,075 hectare SAM property was also staked in 2003. Twenty
two reconnaissance samples taken from both float and outcrop have
returned gold analyses averaging 0.82 g/t gold. These samples
include 13 gold values that range from 0.19 g/t Au to 8.68 g/t
Au. An outcropping vein system has been identified on the SAM
property as well. A six meter wide zone of veining, and
brecciation in an altered host rock has returned a weighted
average value from three samples of 0.47 g/t Au.
The work carried out on all three properties has resulted in the
discovery of previously unknown epithermal quartz vein systems.
The anomalous gold values are generally associated with elevated
As, Sb, Hg and high Ag values. Initial fluid inclusion studies
and alteration mineralogic and petrographic studies suggest that
there has been very little erosion of the vein systems. This data
compares well with the geochemistry which also suggests shallow
erosion. The initial sampling is very encouraging and has
resulted in the definition of several gold bearing vein systems.
A work program for 2004 is currently being planned to better
define targets for drilling.
Edward Balon, P.Geo. was the qualified person, under the meaning
of National Instrument 43-101, supervising work on these
projects. Analyses were carried out by Acme Analytical
Laboratories of Vancouver.
Almaden currently has ten active joint ventures covering 12
properties, including seven properties in which partners are
spending to earn an interest in the project and a regional
exploration program with partner BHP Billiton underway to explore
for copper-gold deposits in Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
Morgan J. Poliquin, M.Sc., P.Eng., Director
Statements contained in this news release that are not historical
facts are forward looking statements as that term is defined in
the private securities litigation reform act of 1995. Such
forward -looking statements are subject to risks and
uncertainties which could cause actual results to differ
materially from estimated results. Such risks and uncertainties
are detailed in the Company's filing with the Securities and
Exchange Commission.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Almaden Minerals Ltd.
Morgan J. Poliquin, M.SC., P.Eng.
Director
(604) 689-7644
(604) 689-7645 (FAX)
Website: www.almadenminerals.com
The Toronto Stock Exchange has not reviewed nor accepted
responsibility for the adequacy or accuracy of the contents of
this news release which has been prepared by management.
