Adamera’s First Drill Hole Intersects Sulfide Bearing Zone, Second Drill Hole Underway
Vancouver, BC, August 7, 2018 - Adamera Minerals Corp. (TSX V: ADZ; OTC: DDNFF) has completed its first drill hole of the summer program. Drill hole OS18-01intersected 40 metres of predominantly clastic rocks with variable amounts of disseminated to veined sulphides and silica alteration. This mineralization resembles that within adjacent drill holes OS17-01 and OS17-03 that yielded high-grade gold. Samples of the drill core have been sent to the laboratory for analysis.
OS18-01 was drilled westward at an angle of -50o to test an induced polarization (IP) anomaly immediately west of drill holes OS17-01 and OS17-03. Both holes intersected high-grade gold zones associated with disseminated to veined sulfides and silica alteration. Assays of interest include 10 g/t over 1.1 metres, 6.5 g/t over 2.8 metres and 15 g/t over 0.3 metres. (See news release September 07, 2017).
“Induced polarization (IP) data predicted the presence of sulfides in this target. This supports our adoption of IP as an effective exploration tool, particularly when accompanied by positive gold geochemistry in overlying soil. We are prioritizing other IP anomalies identified on our properties. It is important to keep in mind the presence of sulfides and silica alone does not guarantee high concentrations of gold. However, we do know in this area sulfides and silica alteration always accompany significant gold mineralization,” says Mark Kolebaba, President and CEO of Adamera Minerals.
A second hole drilled to the east at an angle of -50 degrees is currently underway. Drill hole OS18-02 will test another IP anomaly immediately east of high-grade gold zones encountered in drill holes OS17-01 and OS17-03.
IP surveying continues at Oversight and is progressing towards the Key West mine area to refine targets where Adamera has intersected encouraging gold values during its winter drill program (see news release dated April 10, 2018). The US Forest Service has recently granted Adamera an extension for continued drilling near Key West.
Reclamation work on roads and drill pads constructed for the past 2017 – 2018 work program is nearly completed and in preparation for final inspection. Adamera progressively rehabilitates its work areas.
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.