Enriched Copper At Raya Tembrillo Area

 

VANCOUVER, BC - Almadex Minerals Limited has received assay results from holes EC-17-036 and 041 from the Raya Tembrillo area which is the very northern part of the large Villa Rica Zone of the El Cobre property, Mexico. This area is located approximately two kilometers south of the Norte Zone where since 2016 most of our drilling on the El Cobre property has been focussed. The holes reported today were drilled from the same pad as holes EC-17-037, 038 and 039 but at different azimuth and dips. Both holes intersected a chalcocite dominant enriched copper zone right from surface as well as hypogene mineralization at depth. At this time the extent and orientation of both the hypogene and enriched mineralization are not understood. Further drilling in the area is currently underway. H

J. Duane Poliquin, Chairman of Almadex commented, "We are very pleased to report additional assays from the very northern part of the large Villa Rica geophysical and geochemical target. We believe that these results further indicate large scale porphyry potential in this part of the project. While we have demonstrated the potential for a significant deposit with our Norte drilling, today's results at Raya Tembrillo clearly show that we are dealing with a large cluster of porphyry systems all of which hold the potential to be important porphyry copper-gold deposits."

The El Cobre Project has a total area of 7,456 hectares and is located adjacent to the Gulf of Mexico, about 75 kilometers 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 and apart from the current drilling has never been drill tested in past programs. 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.