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Almadex Minerals Ltd.
Summary
| Project: | El Chato | |
|---|---|---|
| Deposit: | El Chato | |
| Location: | Mexico | |
| Commodities: | Gold-Copper-Silver | |
| Date: | 5/18/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 18-5-2018: Almadex Minerals Ltd. announces an Exploration/Drilling Update report for its El Chato deposit at the El Chato project. Amended technical report summarising exploration mentions 2018 asset transfer agreement. This Technical Report (the “Report” | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Kristopher Raffle (APEX Geoscience Ltd.) | |
| ABSTRACT: | This Technical Report (the “Report”) is written for the El Chato property (the “Property” or “El Chato”), which is held 100 percent (%) by Minera Gavilán S.A. de C.V. (“Minera Gavilán”), a wholly-owned subsidiary of 1154229 B.C. Ltd. (“Spinco”). In 2018, Almadex Minerals Limited (“Almadex”) and 1154229 B.C. Ltd. (“Spinco”) entered into an asset transfer agreement, pursuant to which Almadex transferred, among other things, a 100% interest in the Property to Spinco. Subsequent to the asset transfer agreement, Almadex and Spinco entered into an arrangement agreement to conduct a plan of arrangement (“Plan of Arrangement”) under Section 288 of the Business Corporations Act (British Columbia). As part of the Plan of Arrangement, Almadex would change its name to “Azucar Minerals Ltd.” and Spinco will change its name to “Almadex Minerals Ltd.” The Property has a total area of 5,332 hectares (“ha”) and is located in Puebla State, 10 kilometres (“km”) east of Libres Town, 70 km northeast of Puebla city, 165 km east of Mexico City and 160 km northwest-west of Veracruz City. During 2017, Almadex retained APEX Geoscience Ltd. (“APEX”) to complete an independent Canadian National Instrument 43-101 (“NI 43-101”) Technical Report specific to the Property. The author of the Report, Mr. Kristopher J. Raffle, P.Geo., principal of APEX and an independent Qualified Person as defined by NI 43-101, conducted property visits on September 23rd and 24th, 2012, and September 19th, 2017. | |
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