Tickers: XTSX:ADZ, PINX:DDNFF
Vancouver, B.C. - TheNewswire - July 13, 2020 - Adamera Minerals Corp. (TSXV:ADZ); (OTC:DDNFF) announces an induced polarization (IP) orientation survey is underway on the Cooke Mountain gold project in Washington State. The survey is part of the Adamera Minerals / Hochschild Mining (LON:HOC) targeting program to precede drilling. This particular survey is designed to penetrate deeper to evaluate the depth extent of existing drill intercepts and IP anomalies defined by Adamera in 2018 and identify new targets below detection depth of the previous IP survey.
Assuming the results of the orientation survey over the Overlook mine are positive, surveying will continue over the Oversight project where 2018 drilling by Adamera intersected high-grade gold mineralization approximately 300 metres southeast and on strike of the past producing Overlook Gold Mine. Drill Hole OS18-02 tested a strong IP anomaly and intersected 19.4 g/t gold in the last metre of the hole at a depth of 80 metres. Another hole drilled to the northeast from the same site interescted 2.5 g/t gold over 10 metres at a similar depth including 2 intervals with up to 10 g/t gold (See news release dated September 28, 2018). That drilling was conducted using Adamera's in-house small diameter core drill. The planned 2020 drilling will utilize larger capacity drills to obtain larger samples at greater depths.
"The objective of this survey is to determine the possible depth extent of previously defined drill targets. The Oversight prospect represents a significant target for the joint venture as our previous high-grade drill intercepts are on strike and within 300 metres of the Overlook Gold Mine. I would find it hard to accept that a discovery in the area is not possible given the limited amount of historic exploration beyond the actual site of the Overlook orebody," says Mark Kolebaba, President and CEO of Adamera Minerals Corp.
Once IP surveying is complete at Oversight it is anticipated that the crew would move to the Goodfoot and Lamefoot South properties where Adamera has gold targets. The nearby Lamefoot gold deposit was the largest of the Kinross mines in the Cooke Mountain area. The IP data will estimate the possible depth extent of several existing targets, information that will be used to better rank the targets for drill testing later in the season.
Martin St. Pierre P.Geoph, is a Qualified Person as defined by National Instrument 43-101 and has reviewed data associated with the project. Gold analysis was completed by Activation Laboratories using fire assay methods.
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.
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