| Announcement Date: | 2022-12-12 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | NI43-101 |
| Company name: | Almadex Minerals Ltd. |
| Project name: | San Pedro |
| Location: | Mexico |
| Commodities: | Silver |
| Highlight: | Drilling results incl. 1.3m at 846.00g/t Ag, |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | VANCOUVER, B.C. Almadex Minerals Ltd. (“Almadex” or the “Company”) (TSX-V: “DEX) is pleased to announce that it has received results from the second hole (SP-22-004) drilled in 2022 on its wholly owned San Pedro Project located in Jalisco, Mexico (Figure 1). This hole was drilled from the same pad as hole SP-22-003 which intersected 4.51 metres of 656.8 g/t silver at the collar (see Almadex news release of December 6th, 2022). Hole SP-22-003 was drilled with an inclination of -50 degrees, while SP-22-004 was drilled with -75 degrees. Hole SP-22-004 appears to have intersected an old mining excavation from 1.1 to 3.1 meters, which was not apparent on surface and is filled with mud, broken rock and some wooden pieces. Because of poor recovery before and after, only the 1.3 metres from 4.2 to 5.5 metres depth was sampled which returned 846.0 g/t silver. As noted in the section attached (Figure 3) drilling in this part of the property has intersected long intervals of brecciated and altered rock. The current drilling program has been designed to better understand the orientation and distribution of the breccia zone so that further, more focussed drilling can eventually be carried out. The San Pedro project covers a large area of acid sulphate alteration, including zones previously described as vuggy silica. Recent Terraspec analysis indicates sericitisation superposed on propylitic alteration in the mineralised zones with acid sulphate alteration occurring at the north end of the project. Elevated base metals and silver have been returned from outcrop sampling, and previous soil sampling surveys. Previous RC drilling by past operators, (shown on attached figures) including Cominco, returned anomalous gold, silver and base metals. Including the hole reported here, four holes have now been completed by Almadex in this Phase 2 program, following on the two completed in 2021 (Figure 2 and 3). |
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