Adamera Completes First Drill Hole at Lamefoot South – Drill Moves to Oversight Prospect to Follow up High Grade Intersection
Vancouver, B.C., October 31, 2018 - Adamera Minerals Corp. (TSX V: ADZ; OTC: DDNFF) announces the first drill hole, LFS18-01, on the Lamefoot South Property in Washington State has been completed. The drill hole was sited 280 metres south of the Lamefoot Gold Mine. Assays are pending.
Drill hole LFS18-01 encountered zones with intense silica alteration and disseminated sulfides at various intervals through the hole (see photo below). The hole was targeted on coincident induced polarization (IP), gold in soil and magnetic anomalies.
The drill is currently moving to the nearby Oversight Property to follow-up on high-grade gold intercepts reported in drill hole OS18-02 (See news release dated September 26, 2018).
Drilling will test the new Oversight target zone that is on trend with the Overlook Gold Mine. The next hole will test for an extension to the 19.4 g/t gold over 1.07 metre intercept at the end of hole OS18-02 and located at the margin of the new target zone. On completion of the Oversight drilling the rig will likely move back to the Lamefoot South and Goodfoot properties.
The Goodfoot and Lamefoot drill targets are supported by IP, ground magnetics, soil geochemistry and geological mapping. The targets are located on the Lamefoot trend within a stratigraphic / structural zone approximately on strike with Kinross' past producing Lamefoot Mine. The Lamefoot South target is approximately 250 metres from the Lamefoot Mine and the Goodfoot target is approximately 2 kilometres from the Lamefoot Mine. To view a short video highlighting these targets please click here.
"The proximity of our targets to former gold deposits makes them compelling for drill testing. In my view this is a rare exploration opportunity," says Mark Kolebaba President and CEO of Adamera Minerals Corp.
Martin St. Pierre P.Geoph, is a Qualified Person as defined by National Instrument 43-101 and has reviewed data associated with the project. Gold analysis was completed by Activation Laboratories using fire assay methods.
Adamera Minerals Corp. is exploring for a stand-alone high-grade gold deposit within hauling distance of an existing mill near Republic Washington. This area has reportedly produced over 6 million ounces of high-grade gold. Adamera is the dominant regional explorer in the area.
On behalf of the Board of Directors,
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.