Adamera Intersects Sulfide Zone Near Overlook Deposit Target Development Continues
Vancouver, British Columbia, October 17, 2017 - Adamera Minerals Corp. (TSX-V: ADZ) provides an update on its 2017 drill program in Washington State.
New Sulphide Zone Discovered Near the Overlook Mine:
Core samples from OS17-06, the latest hole drilled to date have been submitted to the lab for analysis on a rush basis. OS17-06 intersected sulfide mineralization below an unexpected mine working within the Overlook Gold Mine. The intercept is below the depth of a nearby historic drill hole and is interpreted as a possible new zone of mineralization.
Separately, the Company continues to await drill results for previous holes. The assay lab has assured the Company that sample turn around times will be quicker but the backlog is still being processed. Current plans drilling include infill drilling at Oversight / Overlook.
Update on SE-01 Target:
Target development on the SE-01 target has advanced significantly. The target is 20 to 30 metres deep over a strike length of 500 metres based on the VTEM, ground magnetic and soil geochemical data.
SE-01 was originally defined as a shallow conductor by an airborne VTEM and magnetic data. A recent ground magnetic survey over the target enhanced our confidence in the provisional model, reinforcing the strong coincidence of the EM and magnetic signatures.
Recent soil sampling over the target has shown anomalous pathfinder geochemistry, using a handheld XRF unit. Gold analyses of the soil samples are expected shortly. Such short lab turnaround times are possible on soils as this material requires litle sample preparation (see figures below).
A permit to drill SE-01 is also expected shortly, the first such permit to be received for US Forest Service lands.
Mark Kolebaba President and CEO states, "SE-01 is a high priority target as it is the strongest VTEM conductor within the entire survey area. Receiving the drilling permit is obviously a top priority for us and as such we are working closely with the US Forest Service to complete the process."
Martin St. Pierre P.Geoph, a Qualified Person as defined by National Instrument 43-101 has reviewed the data in this release. Soil samples are analysized for gold pathfinder elements using a handheld XRF analizer operated by trained Adamera personell. Analysis of soil for gold is complete by Activation Laboritories Using Fire Assay methods.
Figures show VTEM EM, ground magnetics and soil geochemistry associated with the SE-01 Target. Note the strong correlation between the various survey datasets making this a priority exploration target.
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.