Almadex Discusses Exploration Plans for 2026
Strong Balance Sheet Funds 2026 Porphyry Hunt, But Discovery Success Remains Elusive
Almadex Minerals has released an operational roadmap for 2026, summarizing activities from 2025 and outlining immediate exploration goals. The company confirmed that generative work in 2025 led to new project acquisitions and that scout drilling was conducted at the Paradise project (Nevada). For 2026, the primary focus is executing first-pass drilling on multiple projects, starting with the New Hope copper-gold porphyry prospect in Arizona, where drilling commenced in mid-December 2025.
Additionally, the company plans to advance permitting and surface exploration (geophysics/soil sampling) at its portfolio of US-based assets, including Ruby Hill, Red Antler, King, Big Sky, and Rattlesnake. The release highlights the company currently owns six drills, providing operational flexibility and cost control.
This news release is Non-Material in terms of immediate valuation change but Positive for sentiment as it confirms the exploration pipeline is active. - Operational Continuity: The release serves as a "state of the union" confirming that the pivot from the paused Paradise drilling (November 2025) to New Hope is proceeding. - Drill Availability: Owning six drills is a distinct advantage for a junior explorer, insulating Almadex from contractor shortages and high mobilization costs, though it adds maintenance overhead. - Lack of Results: The release notably lacks assay results from the initial New Hope drilling that began Dec 15, 2025. The absence of immediate assays implies work is ongoing or results are in the lab queue, but no visual mineralization was significant enough to warrant an expedited release.
Almadex is a project generator and exploration company spun out from Almaden Minerals. It focuses on identifying early-stage prospects using in-house geological teams and drilling equipment, then either drilling them or optioning them to partners.
- Flagship Project (Current Focus): New Hope (Arizona). A copper-gold porphyry prospect. Drilling is underway to test a large lithocap alteration zone.
- Secondary Projects:
- Paradise (Nevada): Porphyry target. Drilling in 2025 encountered alteration but no economic discovery yet; program paused.
- Project Portfolio: Includes Ruby Hill, Red Antler, and extensive royalty holdings (NSRs) on projects spin-out or sold (e.g., Ixtaca royalty, though value is tied to arbitration).