Almadex Samples 0.59% copper and 0.18 g/t gold in Outcrop at Newly-Acquired Porphyry Target in Nevada, USA

VANCOUVER, British Columbia, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Almadex Minerals Ltd. ("Almadex" or the "Company") (TSX-V: “DEX”) is pleased to announce that, further to its news releases of July 11^th and December 14^th 2023 describing the identification of new targets, it has acquired by staking a 100% interest in the Radio porphyry copper-molybdenum-gold exploration target in Mineral County Nevada, USA.

The Radio project covers a roughly 2.8 by 1.3 kilometre area of hydrothermal alteration developed in volcanic and intrusive rocks and crosscut by mafic intrusive dykes. The observed hydrothermal alteration and zoning is characteristic of porphyry copper systems. To date Almadex has completed a preliminary surface alteration and geologic mapping program along with surface outcrop rock sampling.

First pass surface rock chip sampling has returned important values of copper, molybdenum and gold. A total of 32 samples were collected and assayed during this field campaign, including 31 outcrop samples and 1 talus sample. Of 31 outcrop samples, a total of 5 samples returned greater than 0.05% Cu, and up to 0.59% Cu and 0.18 g/t Au, and three samples returned higher than 100 ppm Mo, and up to 276 ppm Mo (Table 1). The base and precious metal values occur within malachite-stained mafic dykes and magnetite veined intrusive rocks. Fluid inclusion petrography was carried out on select samples of vein material. This work confirmed the fluid inclusion signature of a porphyry system with one sample displaying the distinctive characteristics of A-type porphyry veins.

Table 1. Significant assays from 32 samples collected at Radio Project 2023.

Sample ID	Material	Lithology	Cu (%)	Au (g/t)	Mo (ppm)
869212	Outcrop	Mafic Dyke	0.59	0.18	-
781207	Outcrop	Mafic Dyke	0.44	-	-
23ARP022	Outcrop	Mafic Dyke	0.33	-	-
869213	Outcrop	Quartz vein	0.02	-	276
869214	Outcrop	Rhyolite Porphyry	-	-	149.5
23ARP025	Outcrop	Rhyolite	-	-	129

The alteration mapping has identified minor zones of pyrophyllite and kaolinite alteration considered representative of an advanced argillic altered zone interpreted to be the remnants of an eroded lithocap. Importantly a 2.8 km phyllic alteration trend was also defined which is characterised by high crystallinity muscovite and paragonite. The phyllic zone is bordered by propylitic chlorite and epidote alteration. These alteration minerals were identified using a Terraspec mineral spectrometer. This interpretation suggests that a potential porphyry deposit could be located at shallow depths from the current surface.