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Almadex Reports Successful Site Visit and Sampling Program, Describes Historic Drilling Results from Logan Zinc/Silver Project in Yukon Territory, Canadian Business Journal

VANCOUVER, British Columbia, September 13, 2022 (GLOBE NEWSWIRE) — Almadex Minerals Ltd. (“Almadex” or the “Company”) (TSX-V: “DEX”) welcomes a site visit by an independent geologist. will be announced at The team has completed joining the 100% owned Logan Zinc, Silver project (“Logan” or “Project”). Also discussed below are early findings from the ongoing compilation of historical exploration data for projects located in the traditional territory of the Ross River Dena Council and Liard Indigenous Peoples in the Yukon Territory, Canada. (Figure 1).

Almadex Chairman J. Duane Poliquin commented: Now that we have begun a detailed review of datasets from our past work on real estate, we can begin planning for future explorations.This summer we will be reviewing editorial work, completed his QP site visits, and stakeholder Emphasis was placed on contacting We look forward to reporting on the progress of these efforts in the coming months. “

Historic cores were identified at the site, selected intervals were resampled, and specific gravity (density ) were collected for a series of samples. A total of 232 validation samples, including 231-meter half-drilled cores from three separate holes from the historic drills of 1986, 1987 and 1998, were geographically separated and representative across the deposit. collected from typical mineralized interceptions (including 15% QA/QC duplicates, standard and blank samples) campaigns. We continue to review technical information from past work programs to plan future exploration programs. As shown in Figure 1, key historical drill intercepts included in historical resource estimates include:

hole from (m) up to (m) Spacing (m) Zinc (%) Silver (g/t)
86-L-6 (-60/144az) 3.05 70.35 67.30 7.2 36.3
include 3.05 13.75 10.70 12.8 72.8
include 50.75 70.35 19.60 14.2 57.7
87-L-25 (-60/144az) 88.00 209.00 121.00 4.4 12.7
include 196.00 209.00 13.00 11.4 17.8
87-L-33 (-60/144az) 30.00 72.00 42.00 6.9 45.8
87-L-49 (-60/144az) 23.00 148.00 125.00 4.6 21.4
include 112.00 148.00 36.00 8.0 24.4
87-L-51 (-60/140az) 41.00 118.00 77.00 5.9 25.0
include 41.00 69.00 28.00 9.0 43.3
88-L-100 (-60/150az) 201.00 252.00 51.00 7.1 14.1

The true width of historical drilling results quoted in this release is approximately 80-90% of the reported interval.

Logan Project Details and Historical Mineral Resource Estimates

The Logan Project is located 108 km northwest of Lake Watson in the south central Yukon. The project comprises 156 contiguous quartz concessions located in the Watson Lake Mining District, covering over 3,200 hectares. The project is located on the traditional territory of the Ross River Dena Council and Liard First Nation, 38 km north of the Alaska Highway. Access to past major work programs was facilitated by his 52 km long winter road off the Alaska Highway. In 1987, a 700m long and 20m wide gravel runway was installed on the site. Future use of the runway will require surface releveling, but smaller, shorter runway aircraft may be able to land at this time. Winter road permits have not been renewed since 2009 and further permits are required to reopen the road. The project is currently accessible by helicopter.

Historical reports indicate that Logan contains zinc-silver deposits consisting of zinc-silver mineralization hosted by fissures and veins within granite intrusions. The main zone occurs along an 8,000 m long NE-trending fault-related structure. The main zone is platy, dips 70 degrees to the northwest, along the strike he extends 1,100 m, varies in width from 50 m to 150 m, tracks to a depth of 275 m and remains open. Mineralization is up to 90 meters thick on relatively flat terrain and minimal overburden makes it attractive for open pit mining. Limited historical sampling has shown the presence of tin enrichments associated with zinc mineralization. Collected samples are analyzed for the full suite of elements.

Wardrop (Tetra Tech), a Tetra Tech company, was hired by a former operator at the Logan property in 2012 to produce a technical report containing historical mineral resource estimates. The 2012 Tetra Tech Technical Report is treated as a historical mineral resource. Qualified Persons have not performed sufficient work to classify the Historical Estimates as Current Mineral Resources, and Almadex has not treated this Historical Estimates as Current Mineral Resources.

Table 1: Historical Probable Resource Estimates for the Logan Main Zone Deposit – (Tetra Tech 2012)

zinc cutoff Volume (m3) > cutoff ton > cutoff Grade > Cutoff
Zinc grade (%) Ag grade (PM)
0.5 19,369,095 57,138,829 2.25 10.6
1 14,462,266 42,663,685 2.76 12.89
2 7,830,622 23,100,336 3.88 17.45
3 4,832,848 14,256,903 4.77 20.82
Four 2,882,300 8,502,785 5.65 23.76
Five 1,575,225 4,646,915 6.64 25.7
7 457,511 1,349,657 8.74 31.52

At a zinc cutoff grade of 1%, the Logan main zone was estimated to contain 42.7 Mt with an average grade of 2.76% zinc and 12.89 ppm silver.1,2.

Table 1 above shows the sensitivity of historical Mineral Resource estimates to different cut-off grades for surface mining scenarios where the economic prospects for mining may be reasonable. Readers are cautioned that, except as they relate to a base case cutoff of 1.0%, the figures presented in the table above should not be interpreted as statements of historical or current Mineral Resources. Different cutoff grade abundances and estimated grades are presented for the sole purpose of demonstrating the sensitivity of historical stock models to the choice of specific cutoff grades.

next step

Almadex is currently focused on preparing updated mineral resource estimates and ongoing data review. As noted above, Almadex recognizes and respects the Ross River Dena Council and the Liard First Nation as traditional owners of the area where the project is located.

Methodology and QA/QC

Drill cores from the 1986-1988 Logan drill campaign were submitted to the Bonder Clegg Analytical Laboratory in Vancouver (Bonder Clegg was acquired in 2001 by ALS-Chemex, now ALS Canada Ltd. ). It is assumed that sample preparation for assay included crushing, milling, and micronization to produce pulp for analysis by thermal aqua regia digestion and atomic absorption (AA) determination of zinc and silver values. . Drilling and QA/QC programs prior to the implementation of NI 43-101 were not common at the time, but a selected independent check sampling conducted by Wardrop in 2012 allowed Tetra Tech to replace the original drill core and A good agreement between the sampled drill cores was revealed.

Technical Details of Qualified Persons and Historical Resources

Scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) and Alfonso Rodriquez, M.Sc. P. Gio. (BC), Edmonton, AB. He is a Principal and Consultant and Senior Geologist at APEX Geoscience Ltd. and an independent “Qualified Person” as defined in National Instrument 43-101 – Disclosure Standards for Mineral Projects. Mr. Raffle and Mr. Rodriguez have verified the data disclosed, including reviewing the analytical and test data underlying the information and opinions contained therein.

About Almadex

Almadex Minerals Ltd. is an exploration company with a large minerals portfolio of exploration projects and NSR royalties in Canada, the United States and Mexico. This portfolio is a direct result of years of prospects and transactions by Almadex management. We undertake grassroots exploration, acquisition and drilling mineral projects, either alone or in partnership with other companies, with the goal of generating new mineral resources and royalty holdings. The company owns several portable diamond drill rigs, allowing it to conduct cost-effective first-pass exploration drilling in-house.

On behalf of the Board of Directors,

“J. Duane Polikin”

J. Duane Poliquin, Chairman
Almadex Minerals Limited

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

This news release contains forward-looking statements that involve risks and uncertainties. All statements therein, except statements of historical fact, are considered forward-looking. Forward-looking statements about the Company in this news release include, among other things, planned data reviews, preparation of updated mineral resource estimates, stakeholder mapping and stakeholder development. Although we believe that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or Developments may differ materially from forward-looking statements. Factors that could cause actual results to differ materially from forward-looking statements include market prices, development and exploration successes, permits, continued availability of capital and funding, and availability of facilities. , relationships with third-party customers, and our willingness or ability to continue. Using company drills for exploration and general economic, market, or business conditions. There can be no assurance that such statements are accurate and readers are advised to rely on their own assessment of such uncertainties. We undertake no obligation to update any forward-looking statements, except as required under applicable securities laws.

contact address:

Almadex Minerals Limited
Phone number 604.689.7644
Email: [email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ce6b69a3-7037-4033-80a7-21f57121add2.

1 More difficult, MPGeo. and O’Brien, M. Msc., Pr.Sci.Nat., FGSSA, FAusIMM, MSAIMM (2012) NI 43-101 Technical Report on the Logan Property, prepared by Yukon for Yukon Zinc Corp., effective date 2012 May 30, Wardrop, Tetra Tech, pp. 95
2 See Almadex Minerals Ltd. News Release dated May 26, 2022.

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Almadex Reports Successful Site Visit and Sampling Program, Describes Historic Drilling Results from Logan Zinc/Silver Project in Yukon Territory, Canadian Business Journal

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