Adamera Advances the Poland-China Gold Project in Washington State
Vancouver, BC, May 24, 2013 - Adamera Minerals Corp. (TSX V: ADZ) announces that it has completed detailed mapping and sampling of the historic accessible mine workings on the 100% owned Poland China gold project in Washington State. The data from the geological mapping considerably modifies and advances the company's exploration model for the property. During the program two additional historic workings have been identified suggesting that gold mineralization is more widespread. Assay results are pending.
This new mapping information provides a geological relationship between the 2012 trench results and the historic mine 55 metres to the northeast. Trenching in 2012 uncovered a zone assaying 5 g/t gold over 10 metres including a 1.5 metre sample that assayed 20 g/t gold. In addition to mapping, work progress includes:
- More than 60 rock samples collected and submitted for assay and multi-element analysis;
- More than 650 surface sediment "soil" samples collected, analysis underway
- Detailed VLF-EM survey has been initiated and is currently underway
"The work recently completed by our geological team provides considerable insight to the structural and stratigraphic controls of gold mineralization on the property and as a result the size potential increases significantly. This refined geological model now provides clear targets for drilling," says Mark Kolebaba, President and CEO of Adamera Minerals Corp.
Field crews have identified additional historic mine workings in two locations on the property not previously known to the company. The workings at a site nearly 2 kilometres north of the Poland China Mine are the most extensive on the property with the exception of the Poland China Mine and include at least 30 metres of tunnels into graphitic argillite similar to rocks at the Poland China Mine. An adit located 500 metres west along strike of the Poland China mine has also been identified. Samples from these old exploration adits and mine workings will provide valuable information and will be assayed for gold.
Adamera's strategy is to delineate a high-grade gold deposit near the Kinross Kettle River gold mill, located only 80 km from the property. The mill is currently operating at half capacity with ore shipped 70 kilometres from their 1.3 million ounce Buckhorn mine. Average grade of the Buckhorn mine is 11.3 g/t gold and production costs are reported to be between $400 and $500 per ounce. With the Buckhorn mine having only 3-4 years mine life remaining, Adamera is determined to discover a high grade gold deposit close to the Kinross infrastructure.
Poland China Mine
The Historic Poland China Gold Mine is located approximately 10 kilometres from the Kinross Buckhorn gold mine and less than 80 kilometres, by existing road, to the Kinross Kettle River mill. Poland China is considered to be a sedimentary hosted gold deposit.
The vein mined at Poland China is hosted within brecciated graphitic argillite and has a reported grade of 8.2 g/t to 12.7g/t gold over an average mining width of 2.1 metres. Graphite is considered important at Poland China as it may have formed a reducing chemical environment causing gold to precipitate.
A VLF-EM survey carried out by Adamera identified numerous conductors that appear to be related to graphite rich beds. Trenching across a VLF-EM anomaly with a coincident gold anomaly in soil exposed a graphite rich zone with quartz veining and pyrite. Within this zone, gold assayed 5 g/t over 10 metres including a 1.5 metres sample that assayed 20 g/t gold*. Old workings in the Poland China mine with similar north-south orientations suggest further evidence for north-south oriented mineralization possibly related to the graphite beds.
The 2013 program is designed to assess the company's current geological model as well as identify and test targets to demonstrate size potential for the property.
*The excavator could not reach bedrock over a 1.5 metre zone adjacent to the 20 g/t sample. This un-sampled portion was arbitrarily assigned a gold value of zero as it could not be assayed.
Graham Gill P.Geo and Bruce Kienlen P.Geol are the Qualified Persons as defined by National Instrument 43-101 and are responsible for overseeing exploration activity and reviewing data collected on the project. The historical data is from private reports and has not been verified by the Company, however, it appears to have been completed under standard best practices consistent with the time and appears to be of reasonable quality.
Please join us May 26-27 at the World Resource Investment Conference and also follow us on twitter @ADZ_Adamera for updates and information.
On behalf of the Board of Directors,
President & CEO
For additional information please contact:
Manager, Corporate Communications
Tel: (604) 689-2010
Fax: (604) 484-7143
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.