Almadex drills six m of 0.15% Cu at New Hope
Almadex’s early-stage porphyry drilling confirms an alteration footprint while delivering sub-commercial grades, with capital preservation remaining the primary metric.
Almadex Minerals Ltd. (DEX) has released final assay results from the second drill hole at its New Hope copper-gold porphyry project in Arizona. Hole 2 intersected 6.00 meters at 0.15% Copper (Cu) and 156 ppm Molybdenum (Mo), including a higher-grade interval of 2.00 meters at 0.34% Cu and 326 ppm Mo. A second interval of 2.00 meters at 0.14% Cu and 5 ppm Mo was also reported.
Induced polarization (IP) geophysics extended the anomaly 1.95 kilometers to the east, confirming the drilling is currently on the western edge of a 2.5 km by 0.75 km alteration zone. The company plans a potential Stage 2 drill program based on current data.
Further mapping, sampling, and IP geophysics are planned at the Rattlesnake project in Arizona. Meanwhile, the Big Sky project in New Mexico will be abandoned as it no longer meets investment criteria.
Almadex Minerals Ltd. (DEX) confirmed the presence of a large copper-bearing alteration system, though the results did not include high-grade intercepts sufficient to materially alter the project's valuation or risk profile. The company also announced the abandonment of the Big Sky project, a move described as a minor portfolio optimization intended to free up capital for the New Hope and Rattlesnake projects. No new financial impact, financing, or strategic partnership was announced.
The stock has declined approximately 47% from its March 2026 high of $0.76 to the current level of $0.40, suggesting the market has already priced in the absence of immediate high-grade results.
Almadex Minerals Ltd. (TSX-V: DEX) is an exploration company focused on early-stage porphyry copper-gold and epithermal gold-silver projects in the Western United States and Canada. Key projects include New Hope in Arizona, Paradise in Nevada, Logan in the Yukon, and several optioned properties in Nevada, including Pilot, Confusion Hills, and Red Ring. The company utilizes in-house portable diamond drill rigs to conduct cost-effective first-pass drilling programs. Its strategy involves generative exploration, staking new properties, and optioning or joint venturing assets to partners such as Azucar Minerals and Coeur Mining.