- Almadex Minerals Ltd. (DEX) has acquired 100 per cent ownership of the Logan Zinc, Silver project located in Yukon
- Almadex acquired the Logan project legally through a bankruptcy receivership, which has made it possible for the project to be reactivated
- The Logan Project consists of 156 contiguous quartz mining claims located in the Watson Lake Mining District, covering over 3,200 hectares
- Logan has been explored by multiple parties over the past forty years
- Almadex Minerals Ltd is an exploration company with exploration projects and NSR royalties in Canada, the U.S., and Mexico
- The share price of Almadex Minerals Ltd. was unchanged at $0.27 at 11:26 AM ET
Almadex Minerals Ltd. (DEX) has acquired 100 per cent ownership of the Logan Zinc, Silver project located in Yukon.
Almadex has been able to acquire 100 per cent of the Logan project legally through a bankruptcy receivership, which has made it possible for the project to be reactivated.
“We have long been pushing to advance the Logan project but have been constrained by the joint venture agreement and the unresponsive nature of the prior majority owners,” said Duane Poliquin, Chairman of Almadex.
“With this transaction we are now finally able to start the work necessary to surface the tremendous potential which exists at this project,” he added.
The Logan Project is located 108 km northwest of Watson Lake in south central Yukon. The Project consists of 156 contiguous quartz mining claims located in the Watson Lake Mining District, covering over 3,200 hectares.
The project is located on the traditional territory of the Ross River Dena Council and Liard First Nation, 38 km north of the Alaska Highway. Access for past major work programs was facilitated with a 52 km long winter road from the Alaska Highway.
According to historic reports, Logan contains a zinc-silver deposit consisting of fracture and vein hosted zinc-silver mineralization within a granitic intrusion. The Main Zone occurs along an 8,000m long NE-trending fault-related structure.
The mineralization is up to 90 metres thick in relatively gentle terrain and minimal overburden, making it attractive for open pit mining.
Subject to permitting and stakeholder engagement, Almadex plans to commence an Independent QP review of the previous work towards the preparation of a new technical report and a QP site visit in the summer of 2022 after snow melt.
Logan has been explored by multiple parties over the past forty years.
Almadex Minerals Ltd. is an exploration company that holds a large mineral portfolio consisting of exploration projects and NSR royalties in Canada, the U.S., and Mexico.
The share price of Almadex Minerals Ltd. was unchanged at $0.27 at 11:26 AM ET.