Adamera's Flag Hill Vein Targeted for Drilling
Vancouver, BC, January 29, 2014 - Adamera Minerals Corp. (TSX V: ADZ) - reports that data acquisition and 2013 exploration results establish the 100% owned Flag Hill Property as a prominent and significant epithermal gold target within Washington States' most prolific gold mining region, the Republic Graben. Adamera has upgraded the Flag Hill vein to a high priority drill target.
It is well documented that epithermal gold systems typically contain low-grade gold values in the uppermost part of the system and that gold grades tend to increase dramatically deeper in the system. Current work and historic data clearly demonstrate this fact at the Flag Hill property. The following summary demonstrates this zonation:
- Gold values at surface along the Flag Hill vein generally range from 0.1 to 0.25 g/t gold. Surface sampling at the lowest elevation exposure along the trend yielded a gold grade of 1.88 g/t gold.
- At a depth of approximately 60 metres below the surface apex of the vein, within the Flag Hill mine workings, the average grade from historic production reportedly increases to 7 g/t gold and 21 g/t silver.
- At a depth of approximately 130 meters below the Flag Hill mine workings, a 1957 drill hole reportedly intercepted bonanza grades averaging 41 g/t gold and 277 g/t silver over about 1 metre.
"The increase of grade with depth at Flag Hill is almost a perfect blueprint for an epithermal deposit and the property lies only 12 kilometres from the operating Kettle River Mill. The strategic location of Flag Hill creates a significant opportunity for Adamera," says Mark Kolebaba, President and CEO of Adamera Minerals Corp.
Permit application for drilling on the Flag Hill property has been submitted to The Bureau of Land Management. Planning is underway to drill test the Flag Hill vein at various levels and along strike. Detailed mapping and sampling of the vein from old mine workings is also anticipated.
Between 1930 and 1940 the Flag Hill Mine adit was collared to gain accesses to the down dip extension of the vein. Test mining of approximately 100 metres of the Flag Hill Vein yielded an average recovered gold grade of about 7 g/t and 21 g/t silver. At the time, the nearby Knob Hill mine was in production with an average grade of around 47 g/t gold and 140 g/t silver from a similar epithermal vein deposit.
"A direct comparison of gold and silver grades at Knob Hill at the time obviously made Flag Hill less attractive. However, with today's elevated gold prices, Flag Hill becomes a very attractive target," says Mark Kolebaba, President and CEO of Adamera Minerals. "Further, the potential of finding gold grades of over 40 g/t, similar to Knob Hill, clearly exist at Flag Hill as indicated by the 1957 drill hole that reported intersecting 41 g/t gold with 277 g/t silver over about 1 metre."
The reported mineralized zones intercepted in the 1957 drill hole are listed below.
|Interval (ft)||g/t gold||g/t silver|
The hole was drilled at a -45o, true widths of interval are unknown.
Cross-sections using current and historic data show that the 1957 intercepts are located roughly where the projected down-dip extension of the Flag Hill vein system would be expected. A second parallel hole was drilled in 1972 immediately adjacent to the 1957 drill hole; however no information is currently available for that hole.
In 2013, the Flag Hill Vein was traced for 250 metres on surface and is presumed to continue under cover to the north. Mapping also identified a parallel vein 25 to 30 metres west of the Flag Hill Vein. In addition, 6 other exposed veins or vein systems of various orientations have been identified on other parts of the property. Details of these veins will be released shortly.
The Republic Gold District produced about 3 million ounces of gold at an average grade of 20 g/t and 15 million ounces of silver at an average grade of 110 g/t. Mining operations in the Republic District ceased in 1996.
Jim Ebisch, P.Geol is the Qualified Person as defined by National Instrument 43-101 reviewing the data in this release. The historical information in this release 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.
Adamera is exploring for high-grade gold near an operating mill in Washington State owned by Kinross Gold Corp. The 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 is a high-grade, low-cost producer with only 2 years mine life remaining. Adamera is currently exploring 5 projects with high-grade gold potential within hauling distance of the 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.