Adamera Intersects High Gold Grades at Oversight - Follow up Drilling Underway
Vancouver, British Columbia, September 7, 2017 - Adamera Minerals Corp. (TSX-V: ADZ) announces that assays from two holes drilled to test the Oversight geophysical/ geochemical anomaly carry gold at grades that warrant immediate follow up drilling. The results in hand to date from holes OS17-01 and OS17-03 (drilled from the same drill pad) support the validity of VTEM conductors as exploration targets. The new gold mineralization is shallow and thus very cost effective to drill test.
|Drill Hole||Azimuth||Dip||From (m)||To (m)||Interval (m)||Gold|
-True width of the gold mineralized interval is not yet determined.
The new drill results have been integrated into a database that includes soil geochemistry, geophysics and historical drilling. The soil geochemistry exhibits several gold anomalies that cover an area significantly larger than the Overlook gold mine and Oversight target. The Company's interpretation suggests mineralization is open in several directions. See the accompanying plan.
The soil data, particularly areas with 0.4 to 0.7 g/t gold are of high interest for additional shallow high-grade mineralization. The follow up drilling will initially test the area immediately southwest of the first drill site, targeting shallow high grade mineralization.
"I am confident that our success in discovering gold on the Oversight VTEM target will translate to many of our targets, a number of which have been described in news releases. Importantly, the flow of assay results seems to be improving," says Mark Kolebaba President and CEO of Adamera.
To date eight holes have been drilled to test six targets. The company is waiting for lab results. Results for drill holes OS17-02, OS17-04, OS17-05, HLK17-01, HLK17-02 and GF17-01 are pending release. Long delays with the laboratory have frustrated the program. Hazardous fire conditions also restricted drilling activities since late July.
Other field work accomplished has included +3000 soil samples, 450 line-kilometres of ground magnetic surveying and prospecting. That work has identified several new target areas have been delineated for drilling. More than 1000 acres of additional lands have been acquired.
Martin St. Pierre P.Geoph, a Qualified Person as defined by National Instrument 43-101 has reviewed the data in this release.
Adamera Minerals Corp. is exploring for high-grade gold within hauling distance of the operating Kettle River Mill in Northeastern Washington State. While the existing third-party mill and superior logistics allow a smaller resource to be potentially economic, Adamera's primary goal is the discovery of a large stand-alone high grade gold deposit. Adamera is the dominant regional exploration company in the area.
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.