Adamera Minerals Receives Gold Results on Big Banana Target
Vancouver, British Columbia, April 27, 2017 - Adamera Minerals Corp. (TSX-V: ADZ) confirms the presence of gold in soil above parts of the 2 kilometre long Big Banana target, which is located in the Cooke Mountain project 2 kilometres south of the Lamefoot Gold Mine in Washington State.
The Big Banana target is defined by VTEM data, geology, structure, soil analysis using XRF, soil pH and now gold in soil determined by fire assay (see Background section and figure below). Anomalous gold values ranging from 20 to 469 ppb occur sporadically over Big Banana. Sampling was conducted on a 50 by 50 metre grid.
"While we don't yet know what the Big Banana conductor represents, anomalous gold values in soils above it further validate it as a top rank target for our coming drill program. The site was permitted for drilling last week and is currently being surveyed for drill access," says Mark Kolebaba, President and CEO of Adamera Minerals Corp.
Many of the higher gold values occur in proximity to the projection of the Anfo Fault system and near the projected top of the source of the VTEM anomaly. The anomaly is modelled to be overlain by 15 to 30 metres of rock and thus is a blind or buried target. It is the Company's view that the irregular distribution of gold in soil above the Big Banana is the expected result for a blind target.
The 2016 Adamera Minerals exploration program was designed to identify blind deposits which typically exhibit relatively weak geochemistry. Soil sampling on a detailed grid was employed to identify "pathfinder element leakage" along crosscutting structures. This appears to have been effective on the Big Banana, particularly on the northern lobe where gold and other elements have been detected in soil near structures cutting an otherwise impervious Scatter Creek intrusive sill. As expected, gold in soil is more pronounced on the southern lobe where limestone is exposed.
As reported in an earlier news release, recent geological mapping over the Big Banana target identified brecciated dolomite and altered, iron stained limestone over the southern portion of the conductor and Scatter Creek intrusive rocks over the northern conductor. Scatter Creek intrusives typically occur as sills above gold mineralized limestone at the former Key West and Overlook mines in the area.
Around 5000 soil samples have been submitted to an independent certified laboratory for fire assay. To date results for approximately 20 percent have been received. Results for the balance of the analyses will be reported once they are received, compiled and interpreted.
Background information - Big Banana Target
Highlights of the Big Banana from the April 5, 2017 new release have been included below for background information. An updated figure including locations of anomalous gold values is also provided below.
- Big Banana includes two strong conductors (CM-W-1A and CM-W-1B) that together form a larger 2-kilometre-long curvilinear target. Modelling of these conductors suggests a 10 to 15 metre wide target starting at a depth of about 15m and extending more than 400 metres westerly down dip at an estimated 55 degrees.
- The CM-W-1A and CM-W-1B anomalies straddle the mapped projection of the Anfo Fault. This structure is considered a primary ore control at the past producing Lamefoot gold mine (607,225ounces grading 7.3 g/t gold,) located two kilometre to the north.
Martin St. Pierre P.Geoph, a Qualified Person as defined by National Instrument 43-101 is interpreting the geophysical data from Geotech Ltd. Christine Johnson P.Geol, a Qualified Person as defined by National Instrument 43-101 is interpreting geological and geochemical data on the project.
Adamera Minerals Corp. is exploring for high-grade gold deposits 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.