Confusion Hills

Location : Nevada, U.S.A.
Mineral : Gold & Copper

The Confusion Hills Prospect was identified by Almadex Minerals as part of U.S. generative program in 2023.

The prospect covers a large hydrothermal alteration zone developed in volcanic rocks. Mapping in 2024 defined a porphyry lithocap over an area of 1.6 km x 0.5 km.

Mustang has entered into an Option-Joint Venture agreement with Almadex to acquire 60% interest in the Property. A 43-101 technical report on the project was filed on SEDAR in October 2025.

Map of northern Nevada showing locations of Confusion Hill Property, Red Ring Property, and nearby towns including Tonopah, Warm Springs, and Ely. The map includes highways 6 and 375, and features an inset of Nevada with Reno, Las Vegas, and the properties marked.

Location

The Property lies within Nye County, Nevada, on federal lands managed by the Bureau of Land Management (BLM), roughly 118 kilometres northeast of Tonopah and 80 kilometres east of Kinross’s Round Mountain gold mine.

Geology

The Confusion Hills high sulphidation / porphyry lithocap is a northeast trending 1.6 km by 0.5 km zone of complex alteration characterized by alunite and massive zones of pyrophyllite, with central zones of vuggy quartz and hydrothermal breccias developed in volcanic rocks.  The breccias may represent feeder structures to underlying porphyry mineralization.

A geological map showing soil anomalies and mineral concentrations. Features include contour lines, a scale bar, and a legend with symbols for anomalous rock samples, mineral types such as gold, copper, and molybdenum, and different map zones marked by colors and patterns. The map area is outlined in red.

Exploration

Exploration activities carried out on the Property by Almadex personnel commenced in 2023 and have included rock and soil sampling, induced polarization (IP) geophysical surveys, an airborne magnetic survey by unmanned aerial vehicle (UAV), geological mapping, and alteration mapping utilizing a Terraspec® instrument.

The rock sample assay results are very encouraging, with six samples returning over 0.1 g/t gold including three samples exceeding 0.5 g/t gold (up to 7.1 g/t gold in a grab sample of subcrop and averaging 1.6 g/t gold for all 6 samples).    Soil sampling completed in 2024 returned anomalous gold, molybdenum, and copper values, with gold enrichment centered within the main alteration zone and a molybdenum anomaly defined along its margin.

Two IP survey lines crosscutting the northeast-trending lithocap identified a strong chargeability anomaly interpreted to reflect subsurface sulphide development.  The chargeability anomaly is coincident with areas of vuggy quartz-alunite alteration, anomalous soil and rock samples and hydrothermal breccia on surface.  The alignment of these geophysical, geochemical, geological and alteration indicators highlight this area as a compelling target for further exploration.

A scientific diagram of the Confusion Hills Chargeability Section showing color-coded resistivity values, with labels indicating anomalies of gold, copper, and other elements, along with a rock sample with gold content and zones of pyrophyllite and vuggy quartz.

MAPS

Geological map of Confusion Hills Property in Nye County, Nevada showing alteration zones, sample locations, and mineral deposits with legend and contour lines.
Map of Confusion Hills Property in Nye County, Nevada showing UAV magnetic survey data with SWIR alteration mapping. The map includes contour lines, zones of anomalous gold, copper, molybdenum, and other mineralizations, various lithologies such as Muscovitic Illite, Chlorite, and others, and locations of anomalous rock samples. Scale bar indicates 0 to 1 kilometer, with latitude and longitude grid lines.

ROCKS

Close-up of a pile of rocks and gravel with a blue plastic object partially visible in the bottom right corner.

Sample 227863 || Au: 7.08 ppm*

Close-up of reddish-brown rocks with cracks and some white lichen growth, with a metallic rock hammer partially visible at the top left corner.
Close-up view of dirt and rocks with a small orange plastic tool or part partially buried among the stones.

Sample 227864 || Au: 0.445 ppm*

Close-up of rugged rocks with patches of light green and yellow lichen, surrounded by snow.

Sample 227865 || Au: 0.992 ppm*

Sample 227938 ||

* See April 15th, 2025 Almadex News Release