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Exploration Program Update from Almadex on the Davis/Paradise Project

Almadex Minerals presents an exploration program update on its Davis/Paradise project in Nevada.

Exploration Program Update from Almadex on the Davis/Paradise Project.
Davis Paradise Valley Location Map. Image Credit: Almadex Minerals

As announced beforehand, Almadex owns the rights to earn 100% of this property, which encompasses numerous targets, and is situated about 8 miles southeast of Gabbs, Nevada and 5 miles northeast of the Paradise Peak gold mine, which was functional between 1984 and 1994.

Drilling at Davis/Paradise property is entirely permitted. Geological Fieldwork was performed in early April to properly outline hole locations for a diamond drill program scheduled for June of this year.

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.

J Duane Poliquin, Chairman, Almadex Minerals

The Northern Davis region of the property encompasses an area of high-level epithermal alteration and veining, including a zone of brecciation and silicification understood to be a surficial breccia and sinter, spreading over 1.5 km in length and running alongside the Davis zone.

The exposed vein-hosted gold-silver zones have witnessed historic mining and numerous exploration drill programs. The property was owned by USSRAM Exploration from 1979 to about 2004, during which time numerous exploration and drilling programs were performed on the property, including 11 drill holes to explore mineralization in the historic Davis mine location.

Although this drilling program is historic in nature, it was not concluded as per NI 43- 101 and thus cannot be depended upon, but it does offer a distinct exploration focus. One of the important intercepts from this historic drilling program is said to have yielded 40 ft. (12.2 m) of 0.18 oz/ton gold (6.2 g/ton gold) and 0.62 oz/ton silver (21 g/ton silver).

The strike and dip of the Davis vein were inferred by the historic operators but cannot be confirmed by Almadex at this time so true widths cannot be projected or verified by the company.

Part of the imminent drill program will be at the Davis mine location to investigate and verify these historic findings to outline a second phase of drilling. Almadex also aims to perform first-pass drilling on the sinter zone to confirm underlying vein mineralization. The latest fieldwork on the sinter zone has detected banded opaline quartz veining up to 3 m in width which were sampled for investigation.

The Southern Paradise region of the property encompasses high-level acid sulfate quartz alunite alteration in addition to a zone of phyllic alteration detected by earlier alteration mapping and a fresh WorldView remote sensing study carried out by Almadex in 2020 with results procured in 2021.

This new data proposes that the Paradise region signifies a huge lithocap with a possibility for both gold-silver high sulfidation mineralization and porphyry mineralization at depth, similar to that seen at the neighboring Paradise Peak gold deposit where both forms of mineralization were detected. There is proof of historic drilling on the Paradise property with unidentified results.

In early 2022, a claim internal to the Almaden claim package was optioned under regulations to purchase a 100% interest via a series of payments. Fieldwork performed in April on the claim charted an area of robust phyllic alteration related to numerous styles of quartz veining with pyrite and chalcopyrite evident, signifying a porphyry-style of mineralization.

Samples were gathered for assay and fluid inclusion petrography to verify this analysis. Almadex aims to carry out first pass drilling on the high sulfidation as well as the porphyry target areas in the forthcoming drill program.


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