Tuesday, 15th April 2008 (581 views)

Core hole drilling at the Caballo Blanco project in Veracruz, Mexico, has returned new gold intercepts, it has been announced.

Almaden Minerals, which is developing the site in partnership with Canadian Gold Hunter, said the mineralisation had been intercepted in the second and third diamond drill holes to be completed at the property.

Grades returned from these holes averaged 1.04 g/t gold over 82.30 metres and 0.60 g/t over 216.50 metres.

Higher-grade intersections from these holes had values of 2.63 g/t gold over 16.77 metres for the second hole and 1.12 g/t gold over 13.32 metres, 1.01 g/t gold over 24.39 metres and 0.76 g/t gold over 65.53 metres for the third.

Almaden chairman JD Poliquin said the company was "very encouraged" by the drill results and that he was pleased with the partnership with Canadian Gold Hunter.

"We look forward to the results to come from the aggressive drill program now underway," Mr Poliquin added.

Almaden specialises in the discovery of new mineral deposits. Its exploration programme in Mexico currently covers 15 properties, including the Campanario gold project, the Caldera gold and silver property and the San Carlos gold and copper project.

 

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