Categories: Base Metals / Precious Metals
Topics: General Base Metals / General Precious Metals

Almadex Minerals (TSX-V: DEX)(OTC: AAMMF) CEO Morgan Poliquin on Being Cashed up, Drilling, and Setting up 2025 for Multiple Discoveries

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president and CEO of one of the best speculations in the entire precious metals and base metals complex, especially if you're looking for quality exploration, I leverage that being of course Dr. Morgan Poliquin from Almadex Minerals. Morgan, how are you today?

Morgan Poliquin: I'm doing great, thanks very much. And you?

Gerardo Del Real: I'm well. I'm well. Listen, let's get into it. We talked briefly off-air. We talked about the fact that we're getting into the holidays and you could see it whether you're at the gym or the kids being out of school here for the next week or so, it's starting to slow down. That's also the case as it relates to news flow for companies. Almadex has been busy for the past several years really putting together a quality, quality portfolio of properties in North America, specifically the United States. You drilled on the center zone at the Paradise-Davis Project in Nevada here recently and I wanted to just provide an update there. I have to say, you're trading right around cash and given the quality of the projects and your track record for discovery and the fact that you're in one of the better jurisdictions globally, sooner or later, the market's going to have to recognize the value.

I would encourage everyone out there to really get on the website, go through the presentations and just check out the amount of shots on goal you have for a significant discovery here in 2025 because it's pretty substantial. And again, this isn't one of those situations where the company's going to have to keep diluting its way in order to achieve drilling. It's got the cash, it's got the drills, it's got the technical know-how, so just a matter of time. Let's talk about Almadex and the recent drilling on the center zone. And let's talk about how drilling has gone in 2024.

Morgan Poliquin: Great. Well, thank you very much for that nice introduction and those are all points that I was looking forward to covering. We have spent the last couple of years in Almadex doing a generative program in the western US and we picked up a portfolio of early stage properties. Our modus operandi is to find things that are available for acquisition inexpensively, largely through staking along trends that we've identified that we think perhaps are underexplored, but we're looking for big targets. And the target we are mostly focused on is porphyry copper-gold systems. And we think that there is an opportunity to explore under alteration that we call, technical jargon here, but a lithocap, which is a big pile of clay that is usually above or near an underlying porphyry system. So if you can identify those areas of clay, which is what has been the main focus, and typify them, we've got a machine and we go out in the field, we get hands-on and then if they are the porphyry clay zone that we're looking for, then we go and stake them obviously.

And so the last two years, that's what we've been doing, an aggressive field program with multiple field teams running around, testing these areas that we've identified. And so we've got a nice portfolio of projects, multiple, we've been describing them in our news releases. We're going to be talking about them a lot more as we advance them. And so again, the target is something really big. Copper porphyry systems are the largest real sink of metal out there as a deposit type for both copper, gold and molybdenum and we think they're out there to find. They take deeper drilling, this target, and that's why many, maybe juniors, shy away from that kind of target, but we have our own diamond drills that allow us to go and test them early on and inexpensively compared to say market rates for drilling deep holes. So put all that together and yeah, it's going to be an exciting 2025.

We started this year, you asked about our drilling this year so far, and we've got a property we call Paradise-Davis. There's the Paradise part of it, which is the big porphyry target, and it's defined by, again, one of these areas of clay that we interpret and very clearly is the type of clay you find above a porphyry. So we drilled a couple of holes into what we thought was a hot up kind of center of it, defined by the alteration minerals where they're kind of getting more higher temperature stable, if you like. And we drilled two holes for 1,600 meters. One was a kilometer plus hole. And obviously everyone, when they drill, the purpose is to hit a home run. We didn't in this first program. But what we did do is define it as a porphyry system and we think it's given us some vectors to follow up. We showed it's a big system and we're starting to see the signs we wanted. So we've got to follow up those holes and look for where the porphyry is because we've got the peripheral alteration down to over an nice profile.

So first stage was good. The other part of the property has some epithermal veins, including a center, which is a hot springs deposit, which forms above high-grade epithermal veins. And in Nevada, it's the surface expression sort of exhaust of boiling fluids that deposit gold and silver at depth in veins. So we're drilling not part of the property right now. We just announced that earlier last week, I guess. And so we're underway with that program. And I don't know how many holes we'll drill exactly, but we've got one to start with, which hopefully will tell us where to go with some geology that we'll see out of it. So we're kind of walking the walk, we're doing the early stage exploration, finding the properties and testing them and taking the swings for the fence. And we hope that people will keep following that program as we continue doing that, we hope even more aggressively into 2025.

Gerardo Del Real: What's it been like working in the Western USA after several years of primarily working in Mexico and seeing the various political shifts that at one point were really positive and then at another point were not, right? What's it been like working here in the US?

Morgan Poliquin: Yeah. Well, it's been very refreshing, I guess would be very easy to make answer. I won't say the state, but I was speaking to a state agent and this person said to me, because we're looking at an area that's on state land, and this person said to me, "My job is to help you explore and find a mine because the proceeds of a mine should you find one, go to the state's coffers and specifically the school board," which is common in many states, "and anything you need, please let us know. We want you to succeed." So it's very refreshing. And there's a mining culture and a hope that you'll be successful.

Gerardo Del Real: Well, it's got to be music to your ears. I know the time and the effort and the expense that is made to find economic deposits of the various metals. I absolutely believe 2025 is going to be a year of discovery for Almadex. I know it's got to be somewhat frustrating to look at the fact that you have these drills and you have the knowledge and you have the track record and you have these projects and yet you trade near your current treasury. Again, it changes quick in this space, I encourage everybody to give Almadex a good look. Anything to add to that, Morgan?

Morgan Poliquin: No. You know what? I really appreciate the opportunity to wax about what we're doing in our properties. I think you've read it correctly, 2025 is going to be a good year in terms of what we have planned and aggressive exploration happening. It's been a couple years of accumulating these properties and doing the early stage work. And yeah, I think we'll be describing a lot of hopefully drilling results and talking to you many times next year about how we've tested these properties and what we've found.

Gerardo Del Real: Looking forward to it. As always, take care. Chat again soon, Morgan. Thanks.

Morgan Poliquin: Thank you very much.

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