Adamera Identifies Third High-Grade Gold Target on the Poland-China Property
Vancouver, BC, November 5, 2013 - Adamera Minerals Corp. (TSX V: ADZ) has identified a third high priority gold target area on the Poland-China property in Washington State. Grab samples from outcrop located 1.6 kilometres north of the historic Poland-China mine yielded high-grade gold values including a volcanic rock with quartz veining and pyrite that assayed 21.17 g/t gold, and a nearby quartz vein containing semi-massive pyrite that assayed 56.5 g/t gold.
The company considers these high-grade samples important because of their association with other coincident features such as:
- Proximity to a regional geological contact between sedimentary and volcanic rocks. The Poland-China Mine and numerous geochemical soil anomalies occur along this contact.
- A 300 metre long intense soil geochemical anomaly centered on the high grade samples.
- A magnetic low anomaly.
In addition, a prominent VLF-EM conductor extends south of the anomaly for 650 metres towards the historic Poland-China Mine.
"We are quite pleased with the work we have conducted on the property. It clearly identifies strong high-grade targets around the known historic mine and also delineates several emerging targets that continue to expand the potential of this property," Says Mark Kolebaba, President and CEO of Adamera Minerals.
This third area is 700 metres west of a new high priority gold target area announced October 22, 2013. Both of these new target areas are within volcanic rocks, a different geological environment then the sedimentary rocks that host the Poland-China Mine.
Adamera is in the process of collecting follow up data over the new priority target areas.
Jim Ebisch, P.Geol is a Qualified Person as defined by National Instrument 43-101 reviewing the data in this release. Samples were sent to Acme Analytical Laboratories Ltd. for analysis using ICP-MS.
Adamera's strategy in Washington State is to discover high-grade gold mineralization near established infrastructure. Specifically, the company is targeting areas near the Kinross Kettle River Mill. The Kinross mill is reported to be operating at half capacity with ore shipped 70 kilometres from the 1.3 million ounce Buckhorn mine. The Buckhorn mine has only 2 years mine life remaining. Average grade of the Buckhorn mine is 11.3 g/t gold and production costs are reported to be between $420 and $500 per ounce. Adamera is currently exploring five projects with high-grade gold potential within hauling distance of the Kinross Mill.
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.