DDNFF - Adamera and Hochschild define Goodfoot Targets for 2021 Drilling
(TheNewswire)
Vancouver, B.C. - TheNewswire - February 11,2021 - Adamera Minerals Corp. (TSXV:ADZ ) ( OTC:DDNFF) announces the completion oftarget development on the Goodfoot gold property, a part of the CookeMountain project in Washington State. Goodfoot is locatedapproximately 2000 metres south of the high grade Lamefoot golddeposit mined by Kinross Gold.
A total of five targetson the Goodfoot property have been identified as candidates fordrilling in 2021. Exploration is being funded by Hochschild Mining Ltd(HOC: LON) under a joint venture (“JV”) agreement (See pressrelease January 22, 2020). Hochschild and Adamera are preparing 2021drill targets on three Cooke Mountain areas, namely the Goodfoot,Lamefoot South and Oversight properties. Discussions with Hochschildto determine the final budget and a drilling commencement date areplanned for February.
In 2020 the JV completeddeep penetrating Induced Polarization (IP) surveys at Goodfootresulting in five significant targets being resolved, GF-T1 to GF-T5.The survey was designed to enable target modelling to a depth ofapproximately 225 metres. Previous geophysics had only had thecapability to model targets to a depth of 70 metres.
“ The relationship between geology,geochemistry, geophysics and proximity to the past producing Lamefootgold mine makes the Goodfoot targets very compelling. The increasedtarget size demonstrated by the 2020 IP survey is particularlysignificant. The targets are now fully developed with permitting inplace for drilling, " says Mark Kolebaba,President and CEO of Adamera Minerals.
The Goodfoot survey was conducted over the entireproperty on 200 metre line spacings with 50 metre dipoles and N =1 to8 array in order to penetrate to approximately 225 metres. The datawas subsequently modelled with inversion software. The original IPsurvey in 2018 was conducted on lines 50 and 100 metres apart with 25metre dipoles and N =1 to 5 array. This provided high resolutioninformation to a depth of approximately 75 metres that covered alimited portion of the GF-T1 target.
Target GF-T1 is thehighest priority target based on the extent of the IP anomaly and thepresence of gold in soil samples above the anomaly. The targetappears to expand at depth. GF-T1 strike length is approximately 300metres north-south at 70 metres depth and expands to 850 metres at adepth of 130 metres. It remains open beyond the maximum depthpenetration of the survey.
Targets GF-T2 and GF-T3are also supported by gold in soils. The targets are north and southextensions of the GF-T1 target respectively. GF-T4 is approximately 1km to the east of GF-T1 and is supported by a single gold in soilsample with 469 ppb gold. GF-T5 is located immediately east of GF-T1and is coincident with a zone of high resistivity with significantgold anomalies in soil ranging from 30 ppb to 1090 ppb.
The Lamefoot Gold Mine to the north contained nearly amillion ounces of gold at a reported grade of 8 to 10 g/t. The depositwas not exposed at surface and occurred at and near a limestone –clastic contact. The GF-T1, GF-T2 and GF-T3 targets at Goodfoot areadjacent to a similar limestone – clastic contact and are supportedby gold values ranging from 30 to 700 ppb in soil samples flanking theeast and west margins of the IP anomaly projected to surface.
Martin St. Pierre P.Geoph, is a Qualified Person asdefined by National Instrument 43-101 has reviewed data associatedwith the project and provided quality control for the IP surveycompleted in 2020.
Adamera Minerals Corp. is exploring for a high-gradegold deposit near Republic Washington. This area has reportedlyproduced 8 million ounces of gold. Adamera is the dominant regionalexplorer in the area.
On behalf of the Boardof Directors,
Mark Kolebaba
President & CEO
For additional information please contact:
Email: info@Adamera.com
Website: www.Adamera.com
The TSX Venture Exchange has notreviewed and does not accept responsibility for the adequacy oraccuracy of this release. Statements in this press release, other thanpurely historical information, including statements relating to theCompany’s future plans and objectives or expected results, mayinclude forward-looking statements. Forward-looking statements arebased on numerous assumptions and are subject to all of the risks anduncertainties inherent in resource exploration and development. As aresult, actual results may vary materially from those described in theforward-looking statements.
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