Adamera Identifies Geophysical Targets on State Leases
Vancouver, British Columbia, November 8, 2016 - Adamera Minerals Corp. (TSX-V: ADZ) announces the identification of geophysical targets on recently acquired state leased land in Washington State, part of the Company's Cooke Mountain project. The four targets are Stargate II geophysical anomalies (see below for system commentary) and are located 5 to 8 km from the Kettle River Gold Mill.
One target is assigned a high priority given its location adjacent to the Lamefoot Mine, formerly a high-grade gold deposit developed by Echo Bay Mines. Three similar targets along trend are currently under follow up exploration.
Detailed mapping on the targets has demonstrated the structural controls, alteration and favourable stratigraphy that are common to the Lamefoot, Key East, Key West and Overlook mines. Significantly, mineralization has been identified during surface mapping near one of the targets.
Mark Kolebaba President and CEO of Adamera states "The new Stargate II targets either flank past producing deposits, or are located along a mineralizing trend recently recognized by Adamera. With the presence of these anomalies combined with favourable geological features recently identified by Adamera, I strongly believe the prospectivity of these state leases has been significantly enhanced. These targets are now covered by soil sampling to better delineate drill targets."
Results of soil samples and other survey data will be used to determine drill targets. On the Cooke Mountain project, drilling can be conducted all year-round.
The Stargate II geophysical survey system is an airborne audio magnetotelluric (AMT)
technology developed and deployed by Earth Science Services Corporation of Oshawa, Ontario. As reported by Adamera on June 9, 2016, the survey was conducted over Adamera's Oversight property and surrounding area.
A total of six geophysical anomalies have been identified by Mr. Glenn Galata of Earth Science Services. The survey identified an AMT target coincident with the known Overlook gold deposit and a second target approximately 100 metres from the deposit. That target is in part coincident with a significant gold, arsenic and copper soil geochemical anomaly developed by Adamera.
The Stargate II, system is in the developmental (pre-commercial) stage and as such the effectiveness of this technique is not fully known to the Company. Nevertheless the fact that one anomaly is coincident with the Overlook gold deposit and that others are near the Overlook and Lamefoot deposits is highly encouraging. Incidentally, Adamera did not provide Earth Science Services any geological or geochemical location data prior to the survey.
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 an existing mill in need of ore. Adamera is exploring several projects and is the dominant exploration company in the area.
C. Johnson, P.Geol a Qualified Person as defined by National Instrument 43-101 has reviewed the geological data in this release with the exception of data from the Stargate II geophysical system.
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.