Mapping and Soil Sampling Results Outline Potential Porphyry Centre in Lithocap Alteration at the Paradise Project, Nevada

VANCOUVER, British Columbia, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Almadex Minerals Ltd. ("Almadex" or the "Company") (TSX-V: “DEX”) is pleased to provide a summary of recent exploration results from the Company’s wholly owned portion of its Paradise project in Nevada. The wholly owned 1,730 hectare Paradise area covers a roughly 4.5 by 1.8 kilometre area of exposed intense hydrothermal alteration developed in volcanic rocks.

This alteration zone which includes quartz-alunite, pyrophyllite and diaspore is typical of high-sulphidation environments forming above porphyry copper-gold systems. The alteration has been mapped by Almadex using a Terraspec infrared spectrometer. This work, using rock chip spectral data points has defined a well-preserved porphyry lithocap with alunite core zones (with increasing Na-composition) haloed by pyrophyllite, dickite then hypogene kaolinite. Surrounding the acid sulphate zones are halos of sporadic paragonitic illite (grading to dominant muscovitic alteration) with chlorite in peripheral alteration halos (propylitic).

Within this broad area of lithocap alteration there is at least one high temperature core; a 1.2 km by 700 metre area of high temperature porphyry lithocap alteration with Na-alunite, pyrophyllite and diaspore called the Arena Hill Zone. The spectral mapping at Arena Hill resolved clear alteration vectors/temperature gradients representing potential fluid pathways to porphyry mineralisation at depth.

A recently completed soil sampling program over the Arena Hill zone has further augmented this target by defining a roughly 1 by 1 kilometre gold-molybdenum-arsenic-tellurium-vanadium high core zone with low manganese, lead and zinc but generally surrounded by elevated manganese, lead and zinc. This is a classic geochemical pattern seen in many porphyry districts. The core anomaly is spatially coincident with the area mapped as the high temperature mineral vector to a possible underlying porphyry system. Combined, the alteration mineral vector and soil geochemical anomaly define a high priority drill target for a hidden porphyry.

The Company is considering whether further exploration efforts such as geophysical surveys should be carried out prior to drilling to further refine the target.

J. Duane Poliquin, Chairman of Almadex commented, “It is very special to define such a strong coincident alteration mineral and geochemical anomaly. We look forward to advancing this target towards a first pass deep exploratory drill program.”