VANCOUVER: Almadex Minerals Ltd. has acquired full ownership of the Ruby Hill early-stage exploration project in central Nevada through staking, the company announced Thursday.
The Vancouver-based mineral exploration company said the gold-silver project was identified as part of its regional exploration program in the western U.S. Ruby Hill features a large area of argillic alteration and silicification within rhyolite volcanics, with sporadic outcrops of quartz veinlets. Historic mine workings, including trenches and shafts, indicate past exploration targeting veining and silicified zones.
Initial sampling at the site yielded promising results. Of 59 rock samples collected, 12 contained more than 25 grams of silver per ton, with seven exceeding 100 grams (peaking at 992 grams). Gold was also detected, with 17 samples assaying above 0.1 grams per ton.
A geophysical survey revealed a chargeability anomaly linked to a resistivity low, suggesting potential sulfide mineralization at depth. Almadex plans further prospecting, sampling and mapping to guide future drilling.
“This preliminary work at Ruby Hill has returned exciting silver and gold results at the earliest stages, which is very encouraging,” said J. Duane Poliquin, chairman of Almadex. The company expects 2025 to be a pivotal year as it advances both early-stage and more advanced projects.
Almadex trades on the TSX Venture Exchange under the symbol “DEX.”