Adamera Increases Land Holdings Near Kettle River Gold Mill in Washington State
Vancouver, BC, April 7, 2015. Adamera Minerals Corp. announces it has increased its land holdings in Washington State. The new Lambert Creek property is in the Cooke Mountain mining district and approximately 6 kilometres from the Kettle River gold mill.
The Cooke Mountain district reportedly produced about a million ounces of gold from high-grade mines including the Lamefoot, Overlook, Key West and Key East mines in the period 1990 to 2000. The new property is situated 250 metres north of the Key East mine and 1 kilometre northeast of Adamera's 100% owned Oversight gold property. The exploration target at Lambert Creek is an analogous to Oversight property.
"This acquisition was driven by the concept developed by the Company on its Oversight property. Lambert Creek is similarly prospective for high-grade gold deposits. Importantly, it significantly strengthens Adamera's land holdings in the district, especially with the nearby Kinross gold mill scheduled for care and maintenance later in 2015 due to an absence of ore" says Mark Kolebaba, President and CEO of Adamera.
The Lambert Creek property was staked by the Company to secure approximately 350 acres of prospective land, including several mine workings related to the historic Belcher Mine. Gold at Belcher occurs in a near surface massive sulfide - magnetite horizon similar to the Overlook deposit. Historic reports describe high-grade zones hosted in a 1-2 g/t gold horizon. Surface grab samples of the mineralized horizon collected by Adamera yielded gold values up to 2.1 g/t gold, confirming the horizon is gold-bearing.
Initial mapping of the property verifies the presence of a massive magnetite and sulfide horizon at the base of a limestone unit. The same or a similar horizon at the adjacent Overlook, Key East and Key West mines occurs above limestone. Based on a regional model developed by the Company (see fold model video), Adamera anticipates that mineralization related to those mines may extend beneath the Lambert Creek property (see diagram). Both the upper and lower mineralized horizons are being tested on the property.
Adamera is planning a series of drill holes to test for high-grade gold enriched zones in the mineralized horizons. Prior to drilling, a structural analysis, a magnetic survey and soil sampling will be completed.
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 exploration company in the area and to be positioned for M&A activity.
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.