Vancouver, B.C – TheNewswire – August 19, 2020 – Adamera Minerals Corp. (TSXV:ADZ) (OTC:DDNFF) announces that deeper penetrating Induced Polarization (IP) on the Cooke Mountain Gold project in Washington State is underway. The survey was recommended by JV partner Hochschild Mining PLC (LON:HOC) to preceed deeper drilling of high-grade gold targets/intercepts from Adamera’s previous drilling.
The survey parameters for the IP survey have been tested on east-west and north-south lines over the former Overlook Gold Mine. The survey demonstates that sulfide mineralization related to the deposit appears to extend below 200 metres depth. It is at about that depth where Adamera drilling intersected high-grade mineralization (10 g/t gold @ 11 metres) in drill hole OS17-06 (See news release October 24, 2017). In addition to detecting the known mineralization at Overlook, several new anomalies have been identified. (See Figure 1).
“The use of IP on the Cooke Mountain Gold project continues to prove useful for detecting mineralization. The relationship between the known Overlook deposit and the anomalous chargeability relating to suspected remnant mineralization is compelling. It should be noted that the known Overlook deposit was mined out in the 1990’s. It is assumed that an “unmined” deposit would produce a similar or far stronger anomaly. These results increase our confidence in defining entirely new targets with this exploration tool,” says Mark Kolebaba, President and CEO of Adamera Minerals.
Figure 1.Cross sectional data from modelled IP test lines over the Overlook Mine appear to detect mineralization at 200 metres depth.
The Cooke Mountain Gold Project is funded under the terms of an earn-in agreement with Hochschild Mining (LON: HOC) (See news release dated January 22, 2020).
Property wide IP surveying under the current survey parameters are being conducted on the Oversight, Goodfoot and Lamefoot South properties. This new data will be modelled and used to further prioritize current drill targets as well as identify new targets for drilling 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.
Adamera Minerals Corp. is exploring for multiple high-grade gold deposits in northeast Washington State. This area has reported produced of +7 million ounces of gold. Adamera is the dominant regional explorer in the area.
The Company recently announced the acquisition of Buckhorn 2.0 and changes to its’ Board of Directors and Advsors.
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.
Copyright (c) 2020 TheNewswire – All rights reserved.