Initial IP Data Delineates Significant Gold Targets on the Overlook Trend
Vancouver, BC, June 07, 2018 - Adamera Minerals Corp. (TSX V: ADZ) announces initial results of an induced polarization (IP) survey on the Overlook Gold Trend, 200 metres southeast of the historic Overlook Mine in Washington State. The survey covers an area drilled earlier by Adamera where drill holes OS17-01 and OS17-03 intersected zones of high-grade gold including 6.5 g/t gold over 3 metres and 10 g/t gold over 1.2 metres (see news release dated September 7, 2017).
Drill holes OS17-01 and OS17-03 were collared from the same location and drilled to the SE to test a VTEM conductor at a depth of 80 metres. In addition to intersecting the conductor at depth, sulfide veining was intersected within shallower zones of intense silica alteration. These zones yielded high-grade gold assays for Adamera.
Shallow vein-type “stockwork” mineralization accounted for a significant portion of the historical gold produced from the Overlook and Lamefoot mines. Adamera interprets the mineralization intersected in the recently drilled holes as stockwork style. Furthermore, the mineralization was not detected with Adamera’s magnetic or electromagnetic surveys. To test an alternative exploration methodology the Company initiated IP surveying over the area.
The IP survey has delineated an area of anomalous chargeability on seven consecutive 100 metre spaced lines. The data is interpreted as representing two sub-vertical targets estimated to be 25 to 50 metres wide. Adamera drill holes OS17-01 and OS17-03 tested the area between the sub-vertical targets. To effectively drill test the new geophysical targets, follow-up drill holes will be oriented westerly rather than southeasterly. (See figures below and click to enlarge)
“Having a means of targeting the upper vein-type mineralization could be a very effective exploration tool in this district,” says Mark Kolebaba, President and CEO of Adamera Minerals Corp. “This style of mineralization is undetectable by magnetic and electromagnetic methods. Based on our geophysics, the distribution of gold and trace elements in soils, and drilling our new targets have significant potential.”
A second IP anomaly is developing in the northern part of the area being surveyed. The northern-most survey line is near historic drill sites that reportedly intersected zones with quartz-sulfide stockwork veining that assayed up to 5 g/t gold over 45 metres. Surveying is continuing.
Martin St. Pierre P.Geophysics, a Qualified Person as defined by National Instrument 43-101 has reviewed the data associated with the projects.
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.