There are several drill programs worth keeping an eye on over the next few months, notes junior mining expert Gerardo del Real, editor of the Resource Stock Digest Premium.
One miner that could deliver big gains over the traditionally slow summer months is Almadex Minerals (Vancouver: AMZ), which is exploring El Cobre, an exciting copper-gold project in Veracruz, Mexico.
The El Cobre Project has a total area of 7,456 hectares and is located adjacent to the Gulf of Mexico, about 75 kilometers northwest of the major port city of Veracruz, Mexico, and has uniquely excellent infrastructure.
The project area is situated 200 meters above sea level with extensive road access and is located less than 10 kilometers from a power plant, highway, gas line, and other major infrastructure.
Critics of El Cobre highlight that thus far the copper-gold grades have been lower grade than many producing copper-gold projects.
It’s important to know that the excellent infrastructure in place will go a long way towards making future economics favorable for the project but it is still early-stage and Almadex CEO Morgan Poliquin and the team appear to be zeroing in on the orientation of the deposit.
I don’t believe it’s a coincidence that the company reported its best hole to date at the project on April 5, 2017, hitting 342 meters of 0.60 g/t Au and 0.27% Cu, including 193.3 meters of 0.93 g/t Au and 0.38% Cu. These results are from the Norte Zone where there are currently two drills turning.
Almadex is also preparing to drill the Villa Rica zone, which is a bigger target than El Norte and a target that recently confirmed another copper-gold porphyry though channel sampling.
With a strong cash position of nearly C$5.5 million, six 100%-owned drills, and a market cap of less than C$55 million, Almadex has a lot of upside if the truth machine proves up a significant and economic resource at El Cobre.
It’s early, but this is a team that knows this part of Mexico better than anyone in the world and few companies in the junior space execute the exploration process better than the team at Almadex.
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