Tickers: XTSX:ADZ, PINX:DDNFF
Tags: Mining
Vancouver, B.C. / TheNewswire / February 14, 2019 - Adamera Minerals Corp. (TSX V: ADZ; OTC: DDNFF) announces drill hole OS18-04 intersected significant gold values on the Oversight target in Washington State. The hole confirms the presence of an emerging zone extending northward from previously intersected high-grade mineralization.
Drill hole OS18-04 intersected a 10.57 metre zone with 2.5 g/t gold including 2 intervals with 10.2 g/t and 11.2 g/t gold (see Table 1 below). The intersection is approximately 20 metres north of the 19.4 g/t gold intersection encountered at the bottom of drill hole OS18-02 (see news release September 26, 2018).
These new results suggest increasing gold values and thickness northward. The gold mineralization in hole OS18-04 is in clastic sedimentary rocks. A significant amount of gold was mined from clastic sedimentary rocks at the Overlook Mine which is located approximately 250 metres to the west. This new gold trend falls within north-northeast trending induced polarization (IP) anomalies.
Table 1.
Hole | From (m) | To (m) | Interval (m) | Au (g/t) |
OS18-04 | 73.44 | 84.01 | 10.57 | 2.53 |
incl. | 80.2 | 84.01 | 3.81 | 5.34 |
incl. | 80.5 | 81.2 | 0.7 | 11.2 |
incl. | 82.32 | 83.24 | 0.92 | 10.2 |
True widths of the drill intercepts are not yet known.
"This is a significant result. The information from our last three drill holes confirms a new north-northeast trending gold zone situated east of the Overlook Mine in an area untested by drilling. Based on this information, we will now set out a drilling plan to test the extent of the zone," states Mark Kolebaba, President and CEO of Adamera.
The presence of high-grade gold in drill hole OS18-02 and the subsequent absence of significant gold in Hole OS18-02B is difficult to explain without additional drilling in the area. Three-dimensional computer modeling of the drill data continues to define an interpreted grade shell that is open to the north. It also indicates that the rocks appear to be dipping to the north.
In summary, OS18-04 which returned the most consistent gold mineralization related to this target is the most northerly drill hole in the area. Also, OS18-04 was drilled to the northeast. Other nearby drill holes which were drilled with azimuths directed more to the north or south have also returned better gold results in the past then E-W azimuths. Therefore, to further test this target, future drilling will be conducted with southern azimuths from drill sites located to the north since the rock are dipping to the north.
In addition to the gold zone described above, other zones with anomalous to elevated gold were encountered in the drill hole. Two 5-metre-long zones with 0.4 g/t gold were intersected at 12.74 m and 25.11m. At 93.9m, a 2-metre zone with 1.5 g/t was intersected and at 117.8 metres a 1 metre zone with 1.6 g/t gold was intersected.
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.
About Adamera
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,
Mark Kolebaba
President & CEO
For additional information please contact:
Tel: (604) 689-2010 Fax: (604) 484-7143
Email: info@Adamera.com
Website: www.Adamera.com
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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