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Almadex Minerals Provides Exploration Update and 2016 Program Details
VANCOUVER, BC--(Marketwired - February 01, 2016) - Almadex Minerals Limited ("Almadex" or the "Company") (TSX VENTURE: AMZ) (OTCQB: AXDDF) is pleased to announc
About this update from Mustang Minerals Limited
[{"type":"text","content":" VANCOUVER, BC--(Marketwired - February 01, 2016) - Almadex Minerals Limited (\"Almadex\" or the \"Company\") (TSX VENTURE: AMZ) (OTCQB: AXDDF) is pleased to announce that since listing on the TSX-V in August 2015, it has commenced exploration activities on several of its projects and work programs are currently underway. The focus of work to date has been the Company's El Cobre and Los Venados prospects in Mexico. Some regional exploration work has also been initiated. Details of the work programs and plans for 2016 are highlighted below.Almadex Chairman, J. Duane Poliquin commented, \"We have an outstanding portfolio of mineral projects and we are pleased to commence drilling on the most advanced, El Cobre. At the same time, we also anticipate defining drill targets on other projects so that we can position ourselves to make the next discovery with our in-house exploration and drilling team.\" El Cobre, Mexico In September Almadex received full drill permits for its El Cobre gold-copper porphyry project, located in Veracruz State, Mexico. Past work has defined a large multi-stage and phase porphyry system with at least four centres located along more than four kilometers of strike extent. Almadex has completed surface mapping and sampling and anticipates commencing diamond drilling in the month of February. The El Cobre Project has a total area of 7,456 hectares and is located adjacent to the Gulf of Mexico, about 75 kilometres northwest of the city of Veracruz, Mexico and has excellent infrastructure. The four copper-gold porphyry targets currently known within the El Cobre Project include Los Banos, El Porvenir, Norte and Villa Rica, and are defined by distinct Cu-Au soil anomalies, discrete positive magnetic features and an extensive IP chargeability anomaly. The largest target area is the Villa Rica zone which has not been drill tested. Limited past RC and diamond drill testing at Los Banos, El Porvenir, and Norte has returned wide intercepts of porphyry copper-gold and narrow zones of intermediate sulphidation epithermal gold-silver vein mineralization, with selected intercepts as follows: El Porvenir: Drilling has demonstrated that the system persists at least to 400 m depth. Significant copper and gold grades were intersected such as 0.16% Cu and 0.39 g/t Au over 290 m in hole DDH04CB1. In addition, hole ...