VANCOUVER, British Columbia, April 09, 2025 (GLOBE NEWSWIRE) — Almadex Minerals Ltd. (“Almadex” or the “Company”) (TSX-V: “DEX”) is pleased to announce that it has acquired three new gold-silver early-stage exploration projects by staking. The projects are located in Nevada and New Mexico. Summaries of the work and results returned to date are as follows.
Big Sky Project, New Mexico
The Big Sky high sulphidation epithermal gold-silver project is located in western New Mexico and covers a large area of advanced argillic alteration and silicification hosted in rhyolite volcanics. Zones of hydrothermal brecciation occur along with quartz-alunite and dickite alteration. To date 57 grab rock samples have been taken from outcrop and subcrop (grab samples are selected samples and may not represent true underlying mineralisation). These preliminary results are very encouraging as 19 of these samples returned over 0.1 g/t gold with 4 returning more than 1 g/t gold (up to 3.5 g/t gold and averaging 0.26 g/t gold for all 57). The better values were returned from zones of brecciation that are part of several parallel quartz-alunite ridges that have been identified in the preliminary work. Results have now also been returned from a small preliminary soil grid which showed elevated gold and epithermal suite elements in proximity to the gold in rock results. Together these results help define a broad area of prospectivity surrounding the outcrops mapped to date. Almadex has initiated further soil sampling, geological work and a preliminary geophysical IP survey over the project area to help define potential targets to drill test this high sulphidation gold system in the future.
Bald Valley and White Plains Projects, Nevada
The Bald Valley and White Plains projects are located in eastern Nevada. At both projects large alteration zones have been mapped. The alteration mineralogy is consistent with a high-sulphidation/porphyry lithocap environment, including the presence of advanced argillic alteration. At both projects, the areas of advanced argillic alteration mapped to date cover roughly 2 km x 1 km, within which are observed silicified hematite-rich alunite ridges. While no significant assays were returned from the preliminary sampling undertaken prior to staking (9 samples from Bald Valley and 13 samples from White Plains) the alteration suggests the potential for both concealed high sulphidation epithermal and porphyry mineralisation. Further sampling and mapping has recently been completed, and geophysical surveys are planned.
J Duane Poliquin, Chairman of Almadex commented, “We are pleased to further confirm our regional exploration thesis by identifying and staking these new projects. Preliminary work at Big Sky has returned exciting gold results in the earliest stages of sampling which is very encouraging. We will continue to move these projects forward this year along with the others in our emerging portfolio and look forward to the day when we can initiate drilling.”
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.
The analyses reported were carried out at ALS Chemex Laboratories of Reno, Nevada using industry standard analytical techniques. For gold, samples are first analysed by fire assay and atomic absorption spectroscopy (“AAS”). Samples that return values greater than 10 g/t gold using this technique are then re analysed by fire assay but with a gravimetric finish. Silver is first analysed by Inductively Coupled Plasma – Atomic Emission Spectroscopy (“ICP-AES”). Samples that return values greater than 100 g/t silver by ICP-AES are then re analysed by HF-HNO3-HCLO4 digestion with HCL leach and ICP-AES finish. Of these samples those that return silver values greater than 1,500 g/t are further analysed by fire assay with a gravimetric finish.
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. The Almadex team have significant porphyry lithocap exploration experience and have made three discoveries of mineral deposits under advanced argillic alteration. Our success comes from our audacity, in house exploration capacity and most importantly our ability to drill with our company owned drilling unit. We have assembled a portfolio of lithocap targets that have the potential to be concealing large porphyry systems at depth as well as high sulphidation epithermal gold-silver systems in the best jurisdiction we know: the United States of America. We have the cash and drills to advance and test these targets and will begin to do so in 2025.
On behalf of the Board of Directors,
“Morgan J. Poliquin, Ph.D., P.Eng.”
President and CEO
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.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within it, other than statements of historical fact, are to be considered forward looking. Forward-looking statements in this news release include, among other things, any further work to advance exploration targets at the Big Sky, Bald Valley and White Plains projects. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, permitting, continued availability of capital and financing, equipment availability and general economic, market or business conditions. The foregoing list of assumptions is not exhaustive. There can be no assurances that forward-looking statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking statements, other than as required pursuant to applicable securities laws.
Contact Information:
Almadex Minerals Ltd.
Tel. 604.689.7644
Email: info@almadexminerals.com
http://www.almadexminerals.com/
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