Adamera Continues Target Development on Buckhorn 2.0 Gold Project
Vancouver, B.C., October 20, 2021 - Adamera Minerals Corp. (“Adamera” or the “Company”) (TSX V: ADZ; OTC: DDNFF) reports on progress at the Buckhorn 2.0 project in Washington State. The Buckhorn gold mine was operated by Kinross Gold until it closed in 2017. Adamera acquired a large dataset that covers over 30 square kilometres outside of the Buckhorn mine property located on lands where Adamera holds minerals rights. The dataset includes some 280 drill holes, multiple geophysical surveys, both airborne and ground, soil and rock sample results, geological maps, and LIDAR.
Adamera has been ground truthing the Kinross datasets, and has conducted a ground magnetic survey consisting of 1141 line kilometres with line spacing of 50 metres to cover 95% of the Buckhorn 2.0 property. Figure 1 shown below demonstrates the high resolution provided by ground magnetic data compared to airborne magnetic data.
Figure 1. These two maps show a comparison of the 2021 ground magnetic data and the historical airborne magnetic data. The ground magnetic data increase in detail is significant and is assisting our interpretation of geology, geochemistry and structure to define high quality drill targets.
“The ground magnetic survey over the Buckhorn property is highly responsive to geological features that may be related to gold mineralization. Generally, gold mineralization at Buckhorn is associated with magnetite which is readily detected by magnetics. The high level of detail in this survey allows the company to identify new features and structures in close proximity to high gold values in soil. Merging this data with the Kinross datasets is in progress and will help generate high priority targets,” says Mark Kolebaba President and CEO of Adamera Minerals Corp.
Of significance, the geophysical technicians recorded 140 historic mine workings during the survey operation. Many of these workings are undocumented and provide important information to aid exploration. Recently acquired LIDAR data has been used to identify more than 200 additional features that are similar. Such features are currently being prospected and sampled.
Martin St-Pierre P.Geoph, a Qualified Person as defined by National Instrument 43-101, will assist reviewing the data associated with the project.
Adamera Minerals Corp. is exploring for high-grade gold deposits near Republic Washington. This area has reportedly produced 8 million ounces of gold. Adamera’s Buckhorn 2.0 Gold Property surrounds the Kinross’ Buckhorn Gold Mine that was closed in 2017. The mine produced approximately 1.3 million ounces of gold at an average grade of about 12 g/t. 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.