Mining
Friday, July 26th, 2024 2:46 pm EDT
Key Points
- Commencement of Drilling at Paradise Project: Almadex Minerals Ltd. has started diamond drilling at its Paradise project in Nevada, USA. The drilling is aimed at exploring lithocap targets for potential copper-gold porphyry mineralization, following the identification of a target through mapping and soil geochemistry.
- Current Progress and Future Expectations: The company has completed its first drill hole and is progressing with a second. This drilling program represents a significant step in testing the defined porphyry copper-gold target, with the aim of better understanding the mineral system and locating a potential porphyry center within the lithocap alteration area.
- Company Overview and Technical Approval: Almadex Minerals Ltd. holds a diverse mineral portfolio in Canada, the U.S., and Mexico, supported by in-house drilling capabilities. The scientific and technical content of the news release has been reviewed and approved by Morgan J Poliquin, the company’s President and CEO, who is a Qualified Person under National Instrument 43-101.
VANCOUVER, British Columbia, July 25, 2024 (GLOBE NEWSWIRE) — Almadex Minerals Ltd. (“Almadex” or the “Company”) (TSX-V: “DEX”) is pleased to announce that diamond drilling has commenced at the Company’s Paradise project in Nevada, USA.
The current drill program has been designed to test lithocap targets for potential underlying copper-gold porphyry mineralisation. As described in its news release of February 27th, 2024, Almadex defined a porphyry copper-gold target at Paradise through mapping and soil geochemistry. The company has now completed the first hole and has started a second.
Morgan J Poliquin, President, CEO and a Director of the Company commented, “Testing the lithocap target at Paradise is a milestone for the Company. We hope this initial program will provide a much better understanding of this system and a vector to a porphyry centre within the large area of lithocap alteration our work has defined. We look forward to providing results once received.”
Qualified Persons
Morgan J Poliquin, PhD, PEng, the President and CEO of Almadex and a Qualified Person as defined by National Instrument 43-101 (“NI 43-101”), has reviewed and approved the scientific and technical contents of this news release.
About Almadex
Almadex Minerals Ltd. is an exploration company that holds a large mineral portfolio consisting of projects and NSR royalties in Canada, the U.S., and Mexico. This portfolio is the direct result of many years of prospecting and deal-making by Almadex’s management team. The Company owns several portable diamond drill rigs, enabling it to conduct cost effective first pass exploration drilling in house.
On Behalf of the Board of Directors,
“J. Duane Poliquin”
J. Duane Poliquin, Chairman
Almadex Minerals Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
