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Gold/Mining/Energy : ALMADEN
AMH 31.60-1.5%Oct 31 9:30 AM EDT
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To: Thomas Boychuk who wrote (103)4/15/1998 7:59:00 AM
From: Frank Sauer  Read Replies (1) of 119
 
Caballo Blanco drilling under way

Almaden Resources Corporation AMH
Shares issued 10,262,617 Apr 13 close $1.60
Tue 14 Apr 98 News Release
Mr Duane Poliquin reports
Phase I drilling has started at Almaden's Caballo Blanco project, near
Veracruz, Mexico. A buggy mounted reverse circulation drill (for minimum
land disturbance) started drilling on April 7. A total of 2500 metres of
drilling in 14 holes is planned. The first group of holes will test a large
porphyry copper-gold target with coincident induced polarization, magnetic
and copper-gold soil anomalies.
The district has experienced a prolonged drought and as most of the surface
area is used for cattle pasture, it has been grazed down more cleanly than
normally seen. As a result, much more mineralized float rock has been found
in recent days. Patches of vuggy silica float, often cut by vuggy
quartz-barite-sulphide veins, have been found from line 14 through to line
36, a distance of 2.2km. These coincide with anomalous gold-copper-lead
soil geochemistry and anomalous IP and resistivity readings. Several of
these targets will be tested by drilling.
The company plans to release all drill results together rather than from
individual holes. A quality control program designed in consultation with
Dr Barry Smee is in place to assure confidence in assay results.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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