Vancouver —
The calculation by Giroux Consultants shows a measured and indicated resource of 636,300 tonnes grading 8.78 grams gold per tonne, equivalent to 177,000 contained ounces, and is compliant under NI 43-101. There is also an inferred resource of 1,243,200 tonnes grading 4.32 grams gold (172,900 contained ounces) in the global resource estimate.
In this latest resource estimate, it was recognized that adjacent to the main B and WD vein systems are parallel, less-continuous mineralized veins. Including this material in the estimate allows for the possibility of bulk mining.
Additionally, the high-grade mineralization in the B vein is now interpreted as having a different trend than previously thought, resulting in a shift in exploration focus. Almaden plans additional drilling on the property later this year. Both the bulk-tonnage and the high-grade vein resources remain open to depth.
Historically, the Siwash mine has produced high-grade gold. In the 1990s, 51,750 oz. gold were produced from 16,690 tonnes of ore. Gold mineralization is predominantly hosted in pyritic quartz veins within granites.
Almaden Minerals has 29.8 million shares issued and outstanding.
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