Categories: Precious Metals
Topics: General Precious Metals

Almadex Discovery & Gold Standard Hits 126.2 M of 3.95 g/t Au

I've been very critical of companies that call themselves explorers but aren't actually doing anything. So it's only fair when I see good work yield great results to showcase it.

Neither company is currently a sponsor but both news releases deserve attention. Although Gold Standard Ventures (TSX-V: GSV)(NYSE: GSV) has had good drill success in the past and had accumulated a large land package in Nevada, I've felt it was overvalued for a long time.

I still feel the valuation is a bit rich, but today's news release is nothing short of excellent and is important.

Near surface, oxide deposits in Nevada command a premium and the team at Gold Standard Ventures just hit a game changing hole.

I've said before that this stock has traded like it's going to get bought out, if that option was on the table before, that's a conversation that may be had sooner rather than later now. Congratulations to the team at Gold Standard Ventures.

Then we have Almadex Minerals (TSX-V: AMZ)(OTC: AXDDF). Yesterday Almadex announced a new, potentially significant discovery in Veracruz, Mexico. Almadex CEO Morgan Poliquin is one of the most respected explorers in the business with several discoveries under his belt. Although it's early stage, the team at Almadex appears to be on to a significant gold-rich copper porphyry system at the Norte Target on its El Cobre project.

The first hole drilled into that target returned 163.5 meters of 0.68 g/t gold and .29% copper including 43 meters of 1.61 g/t gold and 0.41% copper to 317 meters. Click here for the news release. 

Porphyry style alteration continues to the end of the hole at 776.51 meters and is currently being sampled for analysis.

It's early and there's alot of work to be done to figure out orientation, grades, continuity etc. but these systems can be very big. Drills are turning and more are on the way. That's great news for those of us that enjoy seeing the discovery process play out.

Congrats to the Almadex team.