03:10 PM EDT, 07/25/2024 (MT Newswires) -- Almadex Minerals Ltd. ( AAMMF ) was at last look down 6.5% and nearer 52 week lows after announcing Thursday that diamond drilling has commenced at their Paradise project in Nevada.

According to a statement, the current drill program has been designed to test lithocap targets for potential underlying copper-gold porphyry mineralisation. As described in its news release of February 27th, 2024, Almadex defined a porphyry copper-gold target at Paradise through mapping and soil geochemistry. The company has now completed the first hole and has started a second.

Morgan J Poliquin, President, CEO and a Director of the Company said in the statement: "Testing the lithocap target at Paradise is a milestone for the company. We hope this initial program will provide a much better understanding of this system and a vector to a porphyry centre within the large area of lithocap alteration our work has defined."

Price: 0.22, Change: -0.02, Percent Change: -6.52