Adamera Starts Drilling on the Oversight Property
Vancouver, BC, July 19, 2018 - Adamera Minerals Corp. (TSX V: ADZ) has started drilling on the Cooke Mountain project near the historic high-grade Overlook Mine in Washington State. The first drill hole, OS18-01 tests an induced polarization (IP) target immediately west of the previously drilled high-grade gold assays from drill holes OS17-01 and OS17-03. The assays of interest include 10 g/t over 1.1 m, 6.5 g/t over 2.8 m and 15 g/t over 0.3 m (see news release September 07, 2017). A second similar IP anomaly located immediately east of drill holes OS17-01 and OS17-03 is also scheduled for drilling.
The target has not yet been reached, however, preliminary observation of drill core shows a notable increase in sulfide content as the drill approaches the IP anomaly (See photo of core below). Once drilling, logging and sampling is complete, core samples will be submitted to a lab for gold analysis by fire assay. The target identified by the IP is estimated to be 25 metres wide.
Photo: Box of core showing increasing sulfides in clastic rocks
This drilling is part of a program designed to test existing permitted targets as well as high priority developing targets as permits are granted on the Overlook and Lamefoot trends.
“This hole is following up high-grade gold intercepted from 2017 near the past producing Overlook mine. Considering the past explorers focus on airborne magnetics as their primary exploration tool, we are left to believe there may be much more to be found in the area. With the deployment of VTEM, IP, high-density soil sampling and high-resolution ground magnetic surveying we have identified a new generation of targets defined by multiple layers of data. We will patiently and systematically continue testing these targets to find more high-grade gold mineralization,” says Mark Kolebaba, President and CEO of Adamera Minerals.
The two IP anomalies flanking the east and west side of the high-grade gold intercepts in previously drilled holes OS17-01 and OS17-03 extend for 600 metres in a north-south direction. (See video and figure below).
IP surveying is still underway on the property and several new high interest IP anomalies have been identified. Targets are being better defined with 50 metre infill line spacing and larger station separation for deeper penetrating data. Recent surveying shows stronger IP chargeability amplitudes 50 metres south of the current drill hole. New targets will be permitted for drilling as they develop. More detail on these developing targets will be released in the coming weeks.
Adamera has numerous targets scheduled for drilling. The current drill plan will remain flexible to incorporate any new high priority targets that require testing.
Martin St. Pierre P.Geoph, is a Qualified Person as defined by National Instrument 43-101 and has reviewed data associated with the project.
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.