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Almadex Minerals Ltd.
Summary
| Project: | El Cobre | |
|---|---|---|
| Deposit: | Norte | |
| Location: | Mexico | |
| Commodities: | Gold-Copper | |
| Date: | 9/6/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 6-9-2017: Almadex Minerals Ltd. announces an Exploration/Drilling Update report for its Norte deposit at the El Cobre project. Drilling results incl. 308.5m @ 0.39g/t Au from 69.0m. VANCOUVER, B.C. Almadex Minerals Limited ("Almadex" or the "Company") (TS | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Larry Segerstrom (Internal) | |
| ABSTRACT: | VANCOUVER, B.C. Almadex Minerals Limited ("Almadex" or the "Company") (TSX-V: AMZ; OTCQX: AXDDF) is pleased to announce it has received assay results from hole EC-17-030 of the 2017 Norte drilling program. EC-17- 030 was drilled to test for the continuation of mineralisation to the northwest and intersected high-grade mineralization and a broad zone of intense stockwork veining and potassic alteration accompanied by significant copper and gold grades. These results trace higher grade mineralisation roughly 200 m northwest from where previously known. The closest hole is historic hole 08-CBCN-022 which was drilled roughly 140 m to the south and 45 m to the east. Hole 08-CBCN-022 intersected a broad zone of low grade mineralisation including 47.24 m of 0.32 g/t gold and 0.21% copper but is interpreted to have only cut the southwest edge of the zone intersected in hole EC-17- 030 announced today. Highlights include the following intercepts all of which are also shown on the attached plan and section: 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 major port city of Veracruz, Mexico and has uniquely excellent infrastructure. The project area is situated 200 meters above sea level with extensive road access and is located less than 10 kilometers from a power plant, highway, gas line and other major infrastructure. Major power lines cross the property area. Almadex has its full drill permits from SEMARNAT and has land access agreements in place. The land ownership is private over most of the project area, has previously been cleared and is used for local agricultural purposes. The four copper-gold porphyry targets currently known within the El Cobre Project, Encinal, El Porvenir, Norte and Villa Rica are defined by distinct Cu-Au soil anomalies, discrete, positive magnetic features and a large 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 Encinal, 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: | |
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