Adamera Continues to Intersect Gold Mineralization at Oversight
Vancouver, B.C., October 25, 2018 - Adamera Minerals Corp. (TSX V: ADZ; OTC: DDNFF) announces drill hole OS18-03 on the Cooke Mountain project in Washington State intersected two gold bearing zones. The hole was drilled 50 metres south of OS18-02 along the same north-south trending induced polarization (IP) anomaly.
The upper intercept assayed 1.6 g/t gold over 0.45 metres at a depth of 12.2 metres. The lower intercept was 1.1 g/t gold over 2.35 metres at a downhole depth of 29.75 metres, including two narrow intervals with 3.0 g/t gold (see table below). The hole did not intersect the high grade mineralization seen at the bottom of drill hole OS18-02 to the north (19.4 g/t gold over 1.07 metres - see news release dated September 26, 2017).
The high-grade intercept in OS18-02 will be redrilled as soon as the current drill hole at Lamefoot South is finished. The Lamefoot South hole was positioned on a separate target area pending assay results from the OS18-02 and OS18-03. The rationale for redrilling the hole is twofold: firstly, to determine the full width of the high grade zone and secondly, to better define the structural controls to that mineralization.
The Company continues to support the application of IP to define broad target zones for drilling. Drill hole OS18–03 intersected a significant semi-massive sulphide-magnetite zone that unfortunately was low in gold. Similar mineralization is however gold-bearing elsewhere at Oversight-Overlook. (To view a short video please click below)
“Our data has identified a large untested area southeast of the Overlook Gold Mine that begins immediately north and east of drill hole OS18-02. It appears the potential of this area was missed because historic exploration drilling focused on testing magnetic anomalies, not non-magnetic sulphides as was intersected in OS18-02”, says President and CEO Mark Kolebaba.
Table 1. Gold Assays for drill holes OS18-03
|Drill hole||From||To||Interval (m)||g/t Au|
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,
President & CEO
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.