Adamera and Hochschild Provide Update on the Cooke Mountain Project
Vancouver, B.C., March 31, 2020 - Adamera Minerals Corp. (TSX V: ADZ; OTC: DDNFF) provides an update on its upcoming exploration program. Plans to start deeper penetrating induced polarization (IP) surveying at the beginning of April will be pushed back temporarily due to concerns related to the Covid-19 pandemic. Hochschild Mining PLC (LON: HOC) and Adamera will use this time to refine existing drill targets and to review bids from drilling contractors.
Our primary concern is the health and safety of our employees, contractors and the surrounding communities such as Republic. The Company is looking at various options on how we will best operate in northeast Washington State and will not initiate field activities without prior consultation with state authorities.
“In Washington, our strategy has always been to hire and train local personnel within the community whenever possible. Our employees carry out surveys using Adamera owned equipment as opposed to importing contractors. This commitment to hiring locally will continue and in doing so will eliminate the need for extended periods of isolation and or quarantine. Also, the majority of work we do on our properties naturally promotes physical distancing of employees and therefore, I am confident we will be able conduct our work safely soon after COVID-19 related restrictions subside,” says Mark Kolebaba, President and CEO of Adamera Minerals Corp.
As part of this update, please watch the recent video presentation by Adamera’s President and CEO Mark Kolebaba. The presentation discusses:
- Adamera’s systematic approach to developing targets
- the number of targets now available for testing
- The benefits of local infrastructure, including a mill within the region
- the possible impact on Adamera as we start to definitively drill test these targets under our agreement with Hochschild.
To view more videos and our full corporate presentation please visit our website. To stay informed on our current activities, please sign up for our email list.
Adamera will provide further updates on its program in the coming weeks. We will release information on specific targets relating to the data review. To communicate with our company during these times please email us at email@example.com.
The Earn in agreement between Adamera and Hochschild was announced on January 22, 2020. Under the terms of the agreement, Hochschild can earn a 60% interest in the projects by spending US$8 million (approximately CAN$ 10.5million) on the project over 5 years. Hochschild can opt to earn an additional 15% of the project by sole funding a feasibility study over an additional 3 years subject to various conditions further outlined in the January 22 release.
Adamera Minerals Corp. is exploring for a high-grade gold deposit near Republic Washington. This area has reportedly produced over 7 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.