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Almadex Confirms Porphyry System at Encinal Target, El Cobre Project, Mexico: Hits 1.5 Meters of 109.5 g/t Gold and 0.15% Copper and 13.0 Meters of 0.57 g/t Gold and 0.21% Copper
VANCOUVER, BC--(Marketwired - June 01, 2016) - Almadex Minerals Limited ("Almadex" or the "Company") (TSX VENTURE: AMZ)(OTCQB: AXDDF) is pleased to announce tha
About this update from Mustang Minerals Limited
[{"type":"text","content":"VANCOUVER, BC--(Marketwired - June 01, 2016) - Almadex Minerals Limited (\"Almadex\" or the \"Company\") (TSX VENTURE: AMZ)(OTCQB: AXDDF) is pleased to announce that it has commenced drilling on its El Cobre porphyry copper-gold project located in Veracruz, Mexico and has received the first assays from this program. The approximately 7,500 hectare El Cobre project covers at least four separate porphyry centres. Porphyry mineralisation is exposed at surface in at least four separate zones, and has been intersected in past drilling campaigns, within a roughly 25 square kilometre area of intense argillic and sericitic hydrothermal alteration, interpreted to represent the upper part of the porphyry environment. Since the commencement of drilling this year, three holes have been completed on the southernmost Encinal target (see map attached to news release). The 2016 drill program plan is to test all targets in order to provide geochemical and alteration vectors for future drilling. Assays have been received from the first two holes and part of the third hole (EC-16-008). All holes intersected intense propylitic and/or phyllic alteration associated with quartz-pyrite veining, typical of the outer fringes of a porphyry system. Hole EC-16-008 (the third hole of the program) has intersected the most intense alteration and the highest sulphide contents. Earlier potassic alteration has been overprinted by intense phyllic quartz-sericite-pyrite and argillic alteration, which is consistent with the interpretation that the hole is located in a zone marginal to a potential copper-rich portion of the porphyry system. Copper sulphides are associated with the areas of preserved K-feldspar-magnetite alteration which have returned elevated copper and gold grades. Higher gold grades are associated with stockwork veining and high sulphide contents. A summary of the assay results received to date are shown below, along with plan maps. Highlights from the assays received to date are as follows: Hole EC-16-008 ENCINAL ZONE, 090 Az, -60 dip From 328.00 to 329.50, 1.50 meters @ 109.5 g/t gold and 0.15% copper From 346.00 to 399.00, 53.00 meters @ 0.27 g/t gold and 0.11% copper Including 13.00 meters @ 0.57 g/t gold and 0.21% copper And 5.00 meters @ 0.93 g/t gold and 0.33% copper And 9.00 meters @ 0.31 g/t gold and 0.14% copper Almadex Chairman...