Almadex Minerals: Junior Explorer Targets Blind Copper Gold Porphyries Across Western U.S

• Almadex Minerals is an exploration company focused on copper-gold porphyries in the Western U.S.
• In 2024, Almadex assembled a portfolio of six early-stage porphyry projects in Nevada, Arizona, Colorado and New Mexico
• Almadex uses exploration techniques to identify clay alteration zones that can overlie blind porphyry deposits
• The company owns its own diamond drills which reduces drilling costs and provides flexibility
• Almadex plans to drill 1-2 projects itself in 2025 while also seeking JV partners to advance other projects

Almadex Minerals (TSXV:DEX) is a junior exploration company seeking to discover large-scale copper-gold porphyry deposits in stable jurisdictions. Under the leadership of President & CEO Morgan Poliquin, Almadex has assembled a portfolio of promising porphyry exploration projects in the Western United States and is poised to create value through drilling and partnerships in 2025.

Pivot to the Western U.S. 

In 2024, Almadex made a strategic decision to focus its exploration efforts on the Western U.S. after 25 years of working primarily in Mexico. The move was driven by a recognition of the favorable geology, underexplored nature, and attractive geopolitical backdrop of the region for porphyry exploration. As Poliquin explains:

I really think that it should be the number one layer, before you look at a world map if you're going to start a junior exploration company and decide where you think the next 10 years would be [with] the least amount of risk.

By staking projects in Nevada, Arizona, Colorado, and New Mexico, Almadex is working to secure a foothold in prolific mineral belts with a long history of major copper-gold porphyry discoveries. The Western U.S. provides an ideal combination of geological potential and relatively stable political jurisdiction compared to other parts of the world.

Applying a Proven Exploration Methodology 

Almadex is applying exploration concepts and techniques honed over decades of experience to quickly identify and advance prospective porphyry systems in this new terrane. The company's approach focuses on detecting large zones of clay alteration that can overlie buried porphyry deposits. As Poliquin describes:

They [porphyry deposits/systems] put out an enormous amount of fluid and change the rock above and around them over tens of kilometers to clay minerals and so we're able to identify those clay minerals from space and once we have the line then we find these piles of clay.

By integrating regional studies, age dating, remote sensing, and field work, Almadex has already delineated clay alteration zones, also known as lithocaps, at six key projects. These lithocaps represent high-priority porphyry targets that will be further refined with systematic exploration in 2025.

Unique In-House Drilling Capability 

A key differentiator for Almadex is its in-house diamond drilling capability. The company owns its own drills and has an experienced team, providing both cost savings and flexibility compared to relying on contractors. Poliquin asserts that the resulting all-in cost of drilling will be much lower than what it would be otherwise.

Owning drills allows Almadex to test early-stage targets with less expense and adapt plans on the fly, based on results. The company can complete short, proof-of-concept drill programs without locking into longer campaigns. It's a fit-for-purpose approach aligned with the realities of greenfields exploration.

Interview with CEO Morgan Poliquin

Plans for Porphyry Discovery in 2025 

Almadex is entering 2025 with a strong treasury of over $13 million in working capital, a seasoned team, and a drill-ready portfolio of porphyry projects. The company plans to drill at least one, and possibly two, projects itself this year. Priority targets will be defined through ongoing mapping, sampling, and geophysical surveys in the first half of the year.

Almadex will also be open to joint venture partnerships to advance projects in tandem with its own drilling. The company has a track record of attracting major miners to its projects and monetizing discoveries through sales and spin-outs. With copper and gold prices on the rise and a scarcity of new porphyry discoveries globally, Almadex's portfolio is well-timed to draw interest.

The Investment Thesis for Almadex Minerals:

• Exposure to the discovery of world-class copper-gold porphyry deposits in the Western U.S.
• Led by renowned exploration geologist Morgan Poliquin, Ph.D. with multi-decade track record
• Portfolio of 6 drill-ready porphyry targets defined by advanced exploration methodology
• Owns in-house diamond drills enabling low-cost, flexible approach to early-stage drilling
• Well-funded with $13M to advance projects, with additional upside from drilling and JVs in 2025
• Scarcity of new copper and gold discoveries globally makes Almadex's portfolio highly prospective
• Position for potential re-rating on porphyry discovery in a Tier 1 jurisdiction as drilling ramps up

Macro Thematic Analysis:

The outlook for copper and gold exploration is underpinned by robust macro fundamentals. Copper is essential for the global transition to clean energy and electrification, with limited new mine supply on the horizon. Gold provides a safe haven in times of geopolitical and economic uncertainty. The lack of major discoveries in recent years has left the pipeline for new large-scale copper and gold mines looking thin.

In this context, Almadex's President Morgan Poliquin sees an opportunity for the company's porphyry exploration projects in the Western U.S. to help fill the gap:

...despite the markets and how difficult they've been, we're starting to see a little change in that and I think there's a little bit more confidence in this sector and an increasing recognition of its necessity and the fact that we're in the United States and that we have a verifiable portfolio of copper gold targets which are real, I think we're going to [see] interest in it and it [will] create more flexibility.

As the world grapples with the challenges of decarbonization, resource security, and economic resilience, the strategic value of copper and gold deposits in stable jurisdictions like the United States is likely to continue rising. Almadex's focus on making new porphyry discoveries in this environment positions it to benefit from these macro tailwinds in the years to come.