Almadex Provides New Hope Drilling, Big Sky Project and General Exploration Update
Almadex confirms large alteration system at New Hope but fails to find the copper "smoke" in first-pass drilling.
The most recent news (April 1, 2026) provides a technical update on the New Hope project in Arizona and the Big Sky project in New Mexico. At New Hope, the first-ever drill hole (NH-25-001) reached 384m, successfully identifying a large porphyry-style alteration system characterized by phyllic alteration and significant pyrite (up to 7%). However, the company explicitly stated that "no significant copper mineralization" was observed in this first hole. Assays for a second hole (NH-25-002) are pending. At Big Sky, surface sampling expanded the prospective area with gold values up to 1.8 g/t Au. Additionally, the company is preparing for an IP survey at the Rattlesnake project.
The impact is Routine - Neutral. While confirming a "large alteration system" is a necessary technical step in porphyry exploration, the lack of copper mineralization in the first hole at the flagship New Hope target is a disappointment for investors looking for an immediate discovery. The news confirms the geological model (a porphyry system exists) but fails to locate the economic core. The expansion of surface anomalies at Big Sky and the commencement of geophysics at Rattlesnake are incremental, early-stage developments typical of a prospect generator and do not yet represent a material change in the company's valuation.
Almadex Minerals is a "prospect generator" focused on the Western USA, Canada, and Mexico. It owns 100% of several projects and maintains a portfolio of over 20 NSR royalties. - Flagship Project: Currently the New Hope Porphyry Copper-Gold Project (Arizona), where the company is conducting first-pass drilling. - Secondary Asset: The Logan Zinc-Silver Project (Yukon), which hosts a substantial NI 43-101 resource (2.6Mt Indicated, 16.9Mt Inferred).