Buckhorn-2

 

 

 

 

Adamera Land Ownership Buckhorn 2.0
Adamera Land Ownership

Overview

The Buckhorn 2.0 project is 100% owned by Adamera. The project area located in Northeast Washington state covers 9100 acres (36 square km) and extends more then 10 km to the Canadian-USA border, along the western margin of the Torada Graben.  Buckhorn 2.0 surrounds the Crown/Kinross patented claims on which the past producing Buckhorn Mine is situated. 

The Buckhorn Mine (formerly named Crown Jewel) was discovered by Crown Resources Corp  in 1988. Approximately 1.3 million ounces of gold at an average grade of about 12 g/t gold was produced from Buckhorn between 2008 and 2017 by Kinross Gold Corp who merged with Crown Resources Corp in 2003.

Adamera's strategy is to aquire land around past producing mines. This area is highly prospective and underexplored due to past companies focused heavily on production.  The area has seen very little drilling outside of the deposit. 

In mid June 2020 the company began prospecting and geological mapping on the new Buckhorn 2.0 claims. This work identified several prospects including the Magnetic Mine for follow up exploration.  Late in 2020, historic drill data from within the Buckhorn 2.0 claim block highlighted a drill intercept with 9 g/t gold over 7.5 metres. According to Adamera’s 2020 geological mapping, the drill intercept is located 1.5 kilometres south of Kinross’ Buckhorn Mine and within the same geological block. Adamera has prepared two separate Plan of Operations on the claim block for anticipated drilling in 2021.

 

For some time Adamera has been collating information on the Buckhorn mine area to ascertain how much exploration had been conducted outside of the immediate mine area.  Based on historical information it appears that Kinross had developed more than 100 targets on the claim block that were not drill tested. Furthermore, they had applied for permits to drill 950 holes from 675 drill pads and construct 120 kms of road to access the drill pads. The size and complexity of process stalled timely progress and the company subsequently dropped the bulk of the original land package to focus entirely on the mine site. The regional potential was determined by Adamera to be highly prospective and largely untested by drilling.

In September of 2021 Adamera completed a data aquisition agreement with a subsidary of Kinross Gold Corp. 

The Buckhorn data package is comprehensive. It includes multiple airborne geophysical surveys, a large number of soil and surface rock sample analysis, geological maps, ground geophysical surveys and drill hole results. It is known that multiple drill targets were developed by Kinross using this data, the majority were not drilled. 

Adamera deployed geologists and geophysicists to compile and interpret the various datasets to develop targets for drilling. Over 40 targets have been developed and the permitting process will begin on the top selected targets.

In exchange for this data, Adamera reserves a 2% royaly for Kinross on claims held on federal lands and a 0.5% royalty on State lease land. Adamera may purchase half the royalty for $2,000,000.