VANCOUVER, British Columbia, June 04, 2025 (GLOBE NEWSWIRE) -- Almadex Minerals Ltd. ("Almadex" or the "Company") (TSX-V: “DEX”) is pleased to announce that it has acquired a 100% interest in the Ruby Hill early-stage exploration project by staking. The project is located in central Nevada and was identified as part of Almadex’s ongoing regional exploration program in the western USA.
The Ruby Hill epithermal gold-silver project covers a large area of argillic alteration and silicification hosted in rhyolite volcanics. Zones of silicification and clay alteration have been identified within which outcrops hosting quartz veinlets occur. Limited outcrop make it difficult to map any potential widths or orientation to the zone of veining and the sporadic outcrops of veined rock occur over a broad area. Some historic mine workings have also been identified which appear very old. These trenches and shafts clearly targeted zones of veining and silicification. To date 59 grab rock samples have been taken from outcrop and float of veining and silicified rhyolite (grab samples are selected samples and may not represent true underlying mineralisation). These preliminary results are very encouraging as 12 of these samples returned over 25 g/t silver with 7 returning more than 100 g/t silver (up to 992 g/t silver and averaging 45 g/t silver for all 59). Important gold values were also returned as 17 of these samples returned over 0.1 g/t gold (up to 0.94 g/t gold and averaging 0.10 g/t gold for all 59).
A one-line IP geophysical survey was carried out across the area of alteration. This survey identified a significant chargeability anomaly associated with a resistivity low. This feature is interpreted to represent a potential zone of alteration and sulphide development extending to depth. Almadex plans follow-up prospecting, sampling and geological mapping on the project, focussing on the area above the high IP chargeability, in order to provide targeting for a future drill program.
J Duane Poliquin, Chairman of Almadex commented, “Our regional exploration program continues to identify new targets for acquisition. This preliminary work at Ruby Slope has returned exciting silver and gold results in the earliest stages of sampling which is very encouraging. We will continue to move our early-stage projects forward this year along with our plans for drilling our more advanced properties. We fully expect 2025 to be an important year for our Company.”
Qualified Persons and Technical Details 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, Tucson, and North Vancouver 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.
The IP line was surveyed using the Company’s highly experienced in-house team and equipment (GDD transmitter and Iris Elrec-6 receivers using a 100 m dipole in a pole-dipole array). Pseudo sections were prepared, and the data was inverted using RES2DINV software. Geophysical surveys are not definitive, and the results are still at an early stage of interpretation, with no guarantee of a mineral discovery.
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 Ruby Hill project. 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 availabilityand 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.
