I believe that the most semantic way to do this is to use as <article> AND <blockquote> , in combination with <h1> :
<article> <h1>Post title here</h1> <div class="meta">author, date, categories, tags, whatever</div> <blockquote> Excerpt </blockquote> <a href="/full/article">Read full Post</a> </article>
The article here consists of what you can expect: headline, content, and some meta. I think this part is pretty straight forward.
However, he also refers to the article, so the content is wrapped in a sample block. He quotes the part of the article to which he cites references. An excerpt is part of the article. A piece that just happens at the beginning.
This method is what I was able to infer from all the documentation and specifications, anyway.
And yes, you can use multiple <h1> tags on the same page if that makes sense. Take a look at http://html5doctor.com/html5-seo-search-engine-optimisation/ :
A new HTML5 algorithm that allows you to select multiple <h1> pages per page. We ask a lot of questions about whether developers will be punished by Google, which, according to the myth, forbade it.
I say βmythβ because Google has always allowed multiple <h1> per page, provided that it is organic, and not an attempt to play the system.
Patrik Alienus Aug 10 '13 at 10:48
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