Adamera Minerals Corporation - 2015 Year End Update
Vancouver, BC, December 30, 2015 - Adamera Minerals Corp. (TSX V: ADZ, "Adamera" or "The Company") wraps up 2015 with a very positive outlook on its properties and exploration strategies. Even though 2015 was an incredibly tough year for the mining sector and Adamera, it was definitely a milestone year for the Company with respect to exploration target development.
Although exploration budgets were essentially non-existent, over the course of the year the Company focused efforts on low-cost research and information gathering. These efforts ultimately led to the development of modern deposit and exploration models for our various projects. Field related activities included geological mapping, investigative site visits to confirm geological characteristics, and detailed examinations of known deposits in the area.
"While significant exploration budgets are essential for new discoveries, it is years like 2015 that prepare a company for success. Our big luxury this year was to have the time to seriously think about our projects, bravely contest old ideas, and develop new exciting deposit targets that offer significant size and grade potential," Says Mark Kolebaba, President and CEO of Adamera.
Going into 2016, Adamera has simplified its deposit targets into two main categories: a younger Cenozoic deposit type (volcanic epithermal) and an older Mesozoic deposit type (sediment hosted). Adamera has identified features specific to each deposit category and has developed a simple exploration methodology to rapidly search large regions at a very low cost. New deposit models developed by the Company open up the region for larger deposits.
"Based on our recent work, we believe we know what controls the mineralization on our property and how to find it. This will be crucial for our next exploration campaign, "says Mark Kolebaba.
Our proposed deposit model and exploration methodology has never been applied in Washington State in the past and it is this that has given Adamera the ability to attract other companies as possible joint venture partners. Through the summer and fall several interested companies visited Adamera's projects.
Exploring for high-grade gold deposits to feed the nearby Kettle River mill continues to be a central strategy for Adamera. It is anticipated that having a mill in place will lower mine construction costs and significantly reduce permitting time. Kinross' Buckhorn mine is currently the only source of ore for the mill and it is rapidly approaching the end of its mine life. We are particularly pleased that Kinross recently reported they will extend the Buckhorn mine life by yet another year, a further reminder that there is much more to find in the region.
Over the past year, volatile gold prices have demonstrated the importance of high-grade deposits as opposed to price sensitive low-grade mineralization. This has instilled a great deal of confidence in the Company's commitment to pursuing high-grade gold in Washington State, a proven area for high-grade gold deposits.
Getting through the year was a constant struggle due to a lack of funding, work bans triggered by massive forest fires and failing financial markets. Adamera is approaching 2016 with a positive outlook thanks to the contribution of many people.
For their hard work and selfless dedication to the Company I personally and sincerely thank Pat Tanaka, Heather Kays, Zoe Pratt, and Daniel Faure. I also thank the Board of directors: Yale Simpson, Bernie Kahlert and Geir Liland for their tireless guidance and belief in the Company. Adamera thanks Maynard Brown, who has retired as a director after many years of service. I also express my gratitude to our most recent contributor Christine Johnson for her effective and contemporary approach to geology and field work.
In particular, I understand how tough this year has been on shareholders, so to fellow investors, I thank you immensely for your patience and continued belief in the Company.
On behalf of the Board of Directors,
President & CEO
For additional information please contact:
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.