Scottsdale, Arizona 6/17/2010 1:35:13 AM
News / Business

Almaden Minerals Ltd. (AAU) 2010 Exploration Program at Wholly Owned Elk Project Underway

QualityStocks would like to highlight Almaden Minerals Ltd. (NYSE AMEX: AAU). Almaden is an exploration company specializing in the generation of new mineral prospects in the Western half of North America. The company currently has over 40 properties in its portfolio at various stages of exploration and development. This portfolio of exciting projects is the direct result of Almaden's commitment to exploration.

 

In the company’s news yesterday,

 

Almaden Minerals Ltd. announced yesterday that the 2010 exploration program at the Company’s wholly owned Elk project is now underway. Geologist Robert Alexander, P.Geo. will supervise the 2010 exploration program. He has more than 30 years of experience as an exploration geologist. In fact, a major portion of this experience relates to gold deposits globally with geologic similarities to the Elk deposit.

 

The first $C1.5 MM stage of this year’s work program at Elk will include further infill and step-out drilling within the resource area, and a preliminary economic evaluation on the deposit. It will also include exploration of several areas identified on the property where trenching, soil sampling, and drilling have identified significant potential. Overall, Almaden Minerals Ltd. planned 8,000 meters of diamond drilling.

 

The Elk Gold Project is 45 kilometers southeast of Merritt in southern British Columbia, Canada. The property has first-rate infrastructure; a four-lane highway crosses at the northern portion of the claim group and major power lines are within 20 kilometers. The property has undergone extensive exploration by soil geochemical surveys, trenching, and diamond drilling from 1987 to the present.

 

Several zones of gold bearing mesothermal quartz veins have been found to date. The Siwash North Vein system consisting of several veins including the B WD vein zones has had the most work to date and a 43-101 compliant resource has been developed through drilling.

 

J.D. Poliquin, Chairman of Almaden Minerals Ltd. commented, “This year’s exploration program at our Elk has three objectives: to move more resource from inferred to higher confidence categories, expand the resource base and drill test other targets on the property. We also look forward to reporting the results of a Preliminary Economic Assessment of the open pit potential of the current resource shortly.”

 

Headquartered in Vancouver, British Columbia, Almaden Minerals Ltd. is an exploration company specializing in the generation of new mineral prospects in the Western half of North America. The Company currently has exploration programs underway in Mexico, Canada, and the United States.

 

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.