Adamera Identifies Multiple Gold Targets on the Flag Hill Property
Vancouver, BC, February 3, 2015 – Adamera Minerals Corp. announces it has identified at least two new gold bearing vein targets on its' 100 % owned Flag Hill property in Washington State. These targets are parallel to the Flag Hill vein, the primary target on the property. Plans to drill these targets are being finalized.
The Flag Hill vein and the two new vein targets described in this release are all north-south trending. deposits in the district having this orientation produced over 2 million ounces of gold and 11 million ounces of silver. Flag Hill is only 10 kilometres from the Kettle River Mill.
A quartz boulder containing 4.0 g/t gold was found along a 400 metre long geochemical soil anomaly west of the Flag Hill Vein. A similar, less extensive target has been identified 200 metres to the east. It is important to note that these new target areas are predominately covered by overburden with little evidence of previous exploration work. This has prompted a re-evaluation of all geophysical and geochemical data on the property. Additional findings will be reported in due course.
The geochemical anomalies described above are defined primarily by arsenic, a pathfinder element closely associated with gold mineralization on the property. The 400 metre long linear arsenic anomaly is coincident with a magnetic low and a linear topographic low, interpreted to reflect a structural control to the epithermal vein system. This target is on trend with a historically mined vein to the north, and is parallel to the Flag Hill vein located 300 metres to the east on the property. Quartz veins with up to 0.5 g/t gold have been mapped within part of a less extensive soil geochemical anomaly 200 metres to the east. See diagram.
"This is a well defined, and essentially undocumented new target on the Flag Hill property. Our systematic approach continues to identify compelling new opportunities," says Mark Kolebaba, President and CEO of Adamera Minerals. "Defining such targets on both the Flag Hill and Oversight projects puts us in a very good position for a discovery in 2015".
The Flag Hill vein has been the primary exploration target on the property. Approximately 60 metres below the surface a 400 ton historic test sample of the Flag Hill Vein reportedly yielded an average grade of 7 g/t gold and 21 g/t silver.
More importantly, Adamera plans to test the vein at depth to confirm a historic high-grade gold intercept at a depth of approximately 130 metres. The 1957 drill hole reportedly intercepted bonanza grades, which averaged 41 g/t gold and 277 g/t silver over nearly 1 metre. The drill hole does not appear to have been followed up. Both the historic test sample and the drill hole demonstrate potentially significant mineralization at depth, strongly warranting drilling by Adamera. The mineralized intercepts in the historic drill hole are reported below.
|From (m)||To (m)||Interval (m)||Gold (g/t)||Silver (g/t)|
The historic hole was drilled at a -45o, true widths of interval are unknown.
The Flag Hill Property is within the Republic Gold District where approximately 3 million ounces of gold at 20 g/t Au and 15 million ounces of silver at 110 g/t Ag were mined up until 1996. The Flag Hill property is fully road accessable and is approximately 10 kilometres form the operating Kettle River Mill.
B. Kahlert, P.Geol a Qualified Person as defined by National Instrument 43-101 has reviewed the data in this release with the exception of any historical data. 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.
Adamera Minerals Corp. is exploring for high-grade gold deposits within hauling distance of the operating Kettle River Mill in Northeastern Washington State. The company's strategy is to fast-track the discovery to production process by exploring close to a mill in need of ore. Adamera is exploring several projects with a goal to become the dominant mining/exploration company in the area through discovery.
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.