NEw Hope

Geology

Almadex has completed a surface alteration and geologic mapping program. Remnants of an advanced argillic altered lithocap with Na-alunite, pyrophyllite and dickite along with a phyllic alteration signature including high crystallinity muscovite at surface have been mapped with a Terraspec mineral spectrometer. The observed hydrothermal alteration is characteristic of the upper levels of a porphyry system. Since the project was acquired in 2023, broad scale mapping of the lithocap has been carried out.

More detailed mapping has been conducted over a portion of the alteration zone in the central area of the project. Previously defined muscovitic (phyllic) alteration to the northwest remains to be mapped in detail. Within the area mapped, exposed advanced argillic alteration was identified to the northeast, and to the southwest an exposed set of porphyry-related veinlets was defined in limonitic alteration.

This zone of quartz veining is currently interpreted to represent a potential centre to the porphyry system at New Hope. The observed zone of veining is an approximately 600 m in diameter semi-circular area. The veins and veinlets are sheeted light to dark grey, semi-translucent quartz and magnetite with banded textures. Fluid inclusion petrography on these veinlets indicate that they were formed by vapour rich fluids. These types of veinlets are interpreted to be typical of shallow-level emplaced porphyry systems and above the level at which main stage porphyry-style copper-gold mineralisation is to be expected. Within this broader area, two inner zones about 200 metres and 100 metres in diameter were mapped where veinlet densities of greater than 10 per metre were observed. To date 78 rock grab samples have been taken on the property from outcrop, subcrop and float in the alteration zone. While the area is weathered and the level of erosion is above that of where main stage porphyry mineralisation would be expected, elevated gold and molybdenum results were returned. Several orientation lines of soil samples were also taken to determine amenability of the area for a more detailed soil sampling program. This included four lines over the area of veining and one line over the area of advanced argillic alteration to the northeast. Anomalous Ag-Mo-Cu-Au and Bi results were returned for these test lines, aiding the interpretation that the mapped zone of veining represents a porphyry centre within the alteration footprint.

Almadex plans to continue detailed mapping and further soil sampling to better define the entirety of the lithocap and to develop a complete set of targets for a future exploration drill program.