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Almadex Minerals: Davis/Paradise Project Update, Drilling Planned for June
Almadex Minerals Ltd. ("Almadex" or the "Company") (TSX-V: “DEX”) is pleased to provide an update on its exploration program at the Davis/Paradise project in Ne
About this update from Almadex Minerals Ltd.
[{"type":"text","content":" Almadex Minerals Ltd. (\"Almadex\" or the \"Company\") (TSX-V: “DEX”) is pleased to provide an update on its exploration program at the Davis/Paradise project in Nevada. As previously announced, Almadex holds the rights to earn 100% of this property, which covers multiple targets, and is located approximately eight miles southeast of Gabbs, Nevada and five miles northeast of the Paradise Peak gold mine, which was active from 1984 to 1994 (Figure 1). The Davis/Paradise property is fully permitted for drilling. Geological Fieldwork was carried out in early April to better define hole orientations for a diamond drill program planned for June of this year. J Duane Poliquin, Chairman of Almadex commented, “This core holding in Nevada represents an opportunity for discovery in a district that has significant historic production which we know very well. We look forward to getting the drill turning soon.” The Northern Davis portion of the property covers an area of high-level epithermal alteration and veining, including a zone of brecciation and silicification interpreted to be a surficial breccia and sinter, extending over 1.5 km in length running parallel to the Davis zone. The exposed vein hosted gold-silver zones have seen historic mining and various exploration drill programs. The property was held by USSRAM Exploration from 1979 to around 2004, during which time various exploration and drilling programs were carried out on the property, including eleven drill holes to investigate mineralisation in the historic Davis mine area. While this drilling is historic in nature and was not completed in accordance with NI 43- 101 and therefor cannot be relied upon, it provides a clear exploration focus. One of the significant intercepts from this historic drilling program is reported to have returned 40 feet (12.2 metres) of 0.18 oz/t gold (6.2 g/t gold) and 0.62 oz/t silver (21 g/t silver). The strike and dip of the Davis vein was interpreted by the historic operators but cannot be verified by the Company at this time so true widths cannot be estimated or confirmed by the Company. Part of the upcoming drill program will be at the Davis mine area to follow-up and confirm these historic results with the aim of defining a second phase of drilling. The Company also plans to conduct first pass drilling on the sinter zone to test for u...