Adamera Intersects Two High-Grade Gold Zones
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Vancouver, British Columbia, October 24, 2017 - Adamera Minerals Corp. (TSX-V: ADZ) announces that drill hole OS17-06 intersected two high-grade gold zones near the former Overlook Gold Mine in Washington State. An upper zone assayed 9.9 g/t gold over 2.1 metres with a deeper interval returning 9.6 g/t gold over 10.9 metres.
The upper zone separates two voids, interpreted to be karst (cave) features or fault zones. The lower intercept is 3 metres below the second void (See the Drill Section). A second hole is currently being drilled northeast of these intersections.
| Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) |
|---|---|---|---|---|
| OS17-06 | 197.8 | 200.0 | 2.1 | 9.9 |
| And | ||||
| OS17-06 | 208.9 | 219.8 | 10.9 | 9.6 |
| incl. | 6.3 | 13.7 | ||
| incl. | 3.9 | 15.3 | ||
| And | ||||
| OS17-06 | 219.8 | 232.4 | 12.64 | 0.5 |
| incl. | 1.55 | 2.1 | ||
OS17-06 was drilled at an angle of about -85o. The true thickness is not yet determined
The objective of drill hole OS17-06 was to test the northwest extension of the 800 metre long VTEM anomaly, referred to as the Overlook Conductor. The central part of the conductor includes 250 metres mined by Echo Bay at the Overlook Mine and the southeast extent includes previously announced shallow zones of high-grade gold in Adamera drill holes OS17-01 and OS17-03. The conductor extends 300 metres to the northwest beyond OS10-06 (See Figure 1).
Drill hole OS17-06 is located 40 to 60 metres northwest of the known extent of the Overlook mine workings and 500 metres northwest of drill holes OS17-01 and OS17-03.
The high-grade gold intercepts in OS17-06 are interpreted to be approximately 30 metres below the majority of ore mined at Overlook. The difference in elevation may be the result of faulting.
As the Overlook Conductor is much larger than the known Overlook Mine it is likely that structural controls focus the high grade mineralization. A detailed anaysis of the geology and geochemistry of OS17-06 may further help our interpretation.
Mark Kolebaba, President and CEO states, "We are very pleased with the high-grade intercepts in drill hole OS17-06. The combination of results from OS17-06, OS17-01 and OS17-03 show that multiple areas of the Overlook conductor are associated with gold mineralization. Importantly, these results increase our confidence in all of our targeting, especially over untested VTEM anomalies located elsewhere on the Cooke Mountain project."
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.
Figure 1
Cross Section 0S-17-06
About Adamera
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,
Mark Kolebaba
President & CEO
For additional information please contact:
Tel: (604) 689-2010
Fax: (604) 484-7143
Email: info@Adamera.com
Website: www.Adamera.com
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.
