Sep 15 2022Reviewed by Mila Perera
Almadex Minerals has reported the drilling results from the last three holes of its drilling project, which commenced in May/June 2022, at its Davis/Paradise project located in Nevada.
The drilling occurred at two holes (DP22-003 and 4) in the sinter target area of the project. The sinter target encompasses a zone of silicification deduced to signify an ancient hot spring deposit and paleo water table setting. The silica deposits are locally crosscut by banded epithermal veins, which dip to the west and strike approximately N-NE.
Two holes were drilled from permitted pads before comprehensive mapping was performed. This comprehensive mapping shows that the veins could dip away from the drilling; therefore, future drilling is scheduled to be performed from pads that can better enable holes to drill deep beneath the sinter area and crosscut veins at right angles to the structural measurements carried out on the surface.
A summary of the findings is given below:
- DP-22-003 hole can be seen to intersect a 0.5 m interval from 269.0 m that returned 0.32 g/t gold in a banded vein and a 2.0 m interval from 304.3 averaging 0.19 g/t gold at the bottom of the hole in altered rock and veined volcanic rock.
- DP-22-004 hole can be seen to intersect a 2 m interval from 59.50 m averaging 1.16 g/ton gold in a crustiform vein.
- As mentioned above, mapping recommends that these holes were not collared ideally to intersect the banded veins charted on the surface in the sinter zone.
- Both the sinter holes were related to elevated epithermal pathfinder elements, backing the analysis that the altered zones and veins intersected at high levels in the epithermal system that created them.
The drilling of the last hole, DP-22-005, was carried out in the Butler area. This first hole into this area did not intersect veining and delivered nothing of importance. The map illustrates the location of all drilling finished by Almadex thus far.
Before drilling, a surface prospecting, mapping, and sampling program was introduced in this massive multi-target project. This work is currently underway, and Almadex hopes to be able to report on the findings of surface sampling and alteration mapping shortly once the data has been collected.
These new results from the ‘sinter zone’ are the first known drillholes in this area. Banded veins seen on surface crosscutting paleo water table alteration are indicative of a dynamic hydrothermal system. These results show the presence of gold at high levels in this system.
J. Duane Poliquin, Chairman, Almadex Minerals
“Veins are mapped at surface dipping away from the collars of these holes. Future drilling is planned to test for high-grade gold at depth beneath the sinter and with azimuths and collars better designed to crosscut the structures identified on surface,” J. Duane Poliquin added.