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Production / Operations

Almadex Minerals talks Spences Bridge projects

By The Northwire Desk — AI Analysis Aug 20, 2025 · 19:41 DEX · 0.41 Almadex Minerals Ltd.
DEX · Price

Executive Summary

  • Almadex Minerals provided a detailed overview of its wholly‑owned Nicoamen and Merit projects located in the Spences Bridge gold belt, highlighting historic exploration results and future drilling potential.
  • Both properties contain multiple low‑sulphidation epithermal quartz vein zones with historic grades up to 4.46 g/t Au (Nicoamen) and 9.5 g/t Au (Merit), supporting their status as compelling exploration targets.
  • The company reiterated its focus on U.S. projects while indicating intent to seek a qualified partner to further develop the Canadian assets.

Key Details

  • Project Locations: Nicoamen – 3,332 ha (9 claims) ~17 km SE of Lytton; Merit – 1,900 ha (4 claims) ~22 km W of Merritt.
  • Historical Exploration – Nicoamen:
  • IGO option (60% earn‑in) terminated early 2022.
  • 41 rock samples, 245 soil samples, half‑property magnetic survey.
  • Magnetic low corridor identified with gold up to 4.46 g/t Au.
  • ~100 m wide zone containing five vertical chalcedonic veins grading 1.05–3.91 g/t Au.
  • Historical Exploration – Merit:
  • Prior work documented in BC assessment report (May 27 2015).
  • Sullivan Ridge quartz vein zone: trenching returned 7.24 g/t Au over 1.8 m and 15 g/t Au over 0.6 m.
  • 2014 diamond drill program intersected narrow zones: 0.5 m @ 0.439 g/t Au, 0.49 m @ 0.246 g/t Au.
  • IGO option (60% earn‑in) terminated early 2022; magnetic survey, mapping, rock geochemistry completed.
  • Oct 8 2020 sampling: up to 9.5 g/t Au & 341 g/t Ag in low‑sulphidation veins; central zone samples 7.69 g/t Au & 447 g/t Ag.
  • Future Plans: No drilling has been conducted since IGO’s termination; Almadex plans to pursue a partner for further development of both projects.
  • Royalties in SBGB: Three NSR royalties (2% each) on Westhaven Gold’s Prospect Valley & Skoonka projects and Au Gold Corp.’s Ponderosa property.

Notable Quotes

“The Merit and Nicoamen projects represent compelling exploration opportunities within the highly prospective Spences Bridge gold belt, located in a mining‑friendly jurisdiction… we intend to seek a qualified partner to further develop these promising assets.” – Morgan Poliquin, President & CEO, Almadex Minerals Ltd.

Read the original news release →

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