Almadex intersects 1.3 metres of 846.0 g/t Silver at the San Pedro Silver-Gold Project, Mexico
NEWS RELEASE
December 12, 2022
Trading Symbols:
TSX-V: DEX
www.almadexminerals.com
Almadex intersects 1.3 metres of 846.0 g/t Silver at the San Pedro Silver-Gold Project, Mexico
VANCOUVER, B.C. Almadex Minerals Ltd. ("Almadex" or the "Company") (TSX-V: “DEX) is pleased to
announce that it has received results from the second hole (SP-22-004) drilled in 2022 on its wholly owned
San Pedro Project located in Jalisco, Mexico (Figure 1). This hole was drilled from the same pad as hole
SP-22-003 which intersected 4.51 metres of 656.8 g/t silver at the collar (see Almadex news release of
December 6 th , 2022).
Hole SP-22-003 was drilled with an inclination of -50 degrees, while SP-22-004 was drilled with -75 degrees.
Hole SP-22-004 appears to have intersected an old mining excavation from 1.1 to 3.1 meters, which was
not apparent on surface and is filled with mud, broken rock and some wooden pieces. Because of poor
recovery before and after, only the 1.3 metres from 4.2 to 5.5 metres depth was sampled which returned
846.0 g/t silver. As noted in the section attached (Figure 3) drilling in this part of the property has intersected
long intervals of brecciated and altered rock. The current drilling program has been designed to better
understand the orientation and distribution of the breccia zone so that further, more focussed drilling can
eventually be carried out.
The San Pedro project covers a large area of acid sulphate alteration, including zones previously described
as vuggy silica. Recent Terraspec analysis indicates sericitisation superposed on propylitic alteration in the
mineralised zones with acid sulphate alteration occurring at the north end of the project. Elevated base
metals and silver have been returned from outcrop sampling, and previous soil sampling surveys. Previous
RC drilling by past operators, (shown on attached figures) including Cominco, returned anomalous gold,
silver and base metals. Including the hole reported here, four holes have now been completed by Almadex
in this Phase 2 program, following on the two completed in 2021 (Figure 2 and 3).
Qualified Persons
Jocelyn Pelletier, P.Geo, a qualified person as defined by 43-101 reviewed and approved the scientific and
technical contents of this news release. The analyses reported were carried out at ALS Chemex
Laboratories of Guadalajara, Mexico using industry standard analytical techniques. For gold, samples are
first analysed by fire assay and atomic absorption spectroscopy (“AAS”). Samples that return values greater
than 10 g/t gold using this technique are then re-analysed by fire assay but with a gravimetric finish. Silver
is first analysed by Inductively Coupled Plasma - Atomic Emission Spectroscopy (“ICP-AES”). Samples that
return values greater than 100 g/t silver by ICP-AES are then re-analysed by HF-HNO3-HCLO4 digestion
with HCL leach and ICP-AES finish. Of these samples those that return silver values greater than 1,000 g/t
are further analysed by fire assay with a gravimetric finish.
About Almadex
Almadex Minerals Ltd. is an exploration company that holds a large mineral portfolio consisting of projects
and NSR royalties in Canada, the U.S., and Mexico. This portfolio is the direct result of many years of
prospecting and deal-making by Almadex's management team. The Company owns a number of portable
diamond drill rigs, enabling it to conduct cost effective first pass exploration drilling in house.
About the San Pedro Project
Almadex acquired the San Pedro project by staking. The property comprises approximately 1,000 hectares
with multiple targets, located approximately 18 kilometers southeast from Juchitlan, 93 kilometers
southwest of Guadalajara and 85km from the Barqueño project (Guachinango) of Agnico-Eagle.
On behalf of the Board of Directors,
“J. Duane Poliquin”
J. Duane Poliquin, Chairman
Almadex Minerals Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within it, other than
statements of historical fact, are to be considered forward looking. Forward-looking statements in this news release relating to the
Company include, among other things, the planned drilling activities at the San Pedro. Although the Company believes 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 those in forward-looking statements.
Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation
and exploration successes, permitting, continued availability of capital and financing, equipment availability, relationships with third-
party clientele and their willingness or ability to continue to use the Company’s drills for exploration, and general economic, market or
business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely
on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking
statements, other than as required pursuant to applicable securities laws.
Contact Information:
Almadex Minerals Ltd.
Tel. 604.689.7644
Email: [email protected]
http://www.almadexminerals.com/