IP Survey Defines Target Under High-Grade Gold Samples at Outlook Ridge
Vancouver, BC, June 26, 2018 - Adamera Minerals Corp. (TSX V: ADZ) announces the development of a well defined induced polarization (IP) anomaly immediately under the Outlook Ridge prospect on the Cooke Mountain Project in Washington State. The site is where Adamera collected grab samples with assays ranging from 2 to 64 g/t gold (See figure below and November 28, 2017 news release). Outlook Ridge has become a high priority drill target for inclusion in the drilling program to begin imminently.
The “classic” IP anomaly is defined by moderate chargeability and moderate to low resistivity, which corroborates the presence of a zone with sulfide-bearing quartz veins and silica alteration. The zone is interpreted to be subvertical and approximately 15 metres wide near surface. Increasing chargeability with depth may suggest an increased sulfide content and/or a widening. The IP data indicates the target extends to the south for over 300 metres. Click here to see automated slide show video.
Figure shows IP pseudo-section over Outlook Ridge. The classic anomaly highlighted within the circle is coincident with high-grade gold samples at Outlook Ridge. Initial grab samples assayed 2.1 g/t Au, 7.8 g/t Au, 30 g/t Au, 37 g/t Au and 64 g/t Au. Insert map shows location of Outlook Ridge in relation to local mines shown in orange and other Adamera high-grade gold discoveries shown as red stars.
“The level of coincidence between the IP and the rock samples with high-grade gold is quite compelling. Having a possible strike length of more than 300 metres and being located between the Overlook and Key West Mines makes it that much more significant,” says Mark Kolebaba, President and CEO of Adamera Minerals Corp.
Shallow vein-type “stockwork” mineralization accounted for a significant portion of the historical gold produced from the Overlook Mine. Outlook Ridge is located between the Overlook and Key West Mines, which are 2 kilometres apart. Surface exposure of the veins at Outlook Ridge appears to be hindered by overlying intrusive rocks.
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.