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Almadex Minerals: Drilling Underway at the Davis/Paradise Project, Nevada
VANCOUVER, British Columbia, May 24, 2022 (GLOBE NEWSWIRE) -- Almadex Minerals Ltd. ("Almadex" or the "Company") (TSX-V: “DEX”) is pleased to announce that it h
About this update from Almadex Minerals Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, May 24, 2022 (GLOBE NEWSWIRE) -- Almadex Minerals Ltd. (\"Almadex\" or the \"Company\") (TSX-V: “DEX”) is pleased to announce that it has commenced diamond drilling operations 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). J Duane Poliquin, Chairman of Almadex commented, “We are very happy to get the drill turning on our exploration projects. It is especially nice to be exploring in a part of Nevada we know so well. There are multiple styles of mineralisation and targets on the property and we plan to test them in sequence.” Drilling has commenced on the Davis Zone in the northern Davis portion of the property where high level epithermal alteration and veining has been identified. Also in the northern half of the project is an area of alteration interpreted to represent a sinter and breccia system, extending over 1.5 km in length running parallel to the Davis zone (Figure 2). These 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 historic Davis Mine area drilling cannot be verified by the Company, as it was not completed in accordance with NI 43- 101, 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 drill program underway will initially test the area of this historic drilling. 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. The Southern Paradise portion of the property covers high level acid sulphate quartz alunite alteration as well as a zone of phyllic alteration identified...