DDNFF - Adamera Completes Five Drill Holes on the Cooke Mountain Gold Project - Drilling Continues
(TheNewswire)
Vancouver, B.C., / TheNewswire / June 9, 2021 - Adamera MineralsCorp. (“Adamera” or the “Company”) (TSXV: ADZ; OTC: DDNFF) provides an update on the2021 drill program with joint venture partner Hochschild Mining LLC(LON: HOC) on the Cooke Mountain project near Republic Washington.
Adamera has completed five drill holes to date forapproximately 1500 metres of a 3000 metre program. Drilling has tested targets on three prospects within theGoodfoot, Lamefoot South and Oversight properties. Zones with sulfideshave been intercepted on all three properties. Analytical results arepending.
Below is a drill hole summary with an emphasis onvisual sulfide mineralization.
Lamefoot South Property –Approximately 0.5 to 1 km south of the Lamefoot gold mine
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1) HA-1: 26 metres of shearedrocks with up to 5% sulfides. The hole was drilled to a depth of 202metres.
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2) L-6: 14 metres of limestonewith up to 60 % sulfides at shallow depths. This hole was drilled to adepth of 297 metres.
Goodfoot Property – Approximately 2km from the Lamefoot gold mine
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3) GF-9: 35 metre interval ofaltered clastic sediments with up to 2% sulfides. This hole wasdrilled to a depth of 316 metres.
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4) GF-16: 50 metres of clasticsediments with up to 15% sulfides. The sulfides occur as veins anddisseminations throughout. This hole was drilled to a depth of 349metres.
Oversight Property – Approximately0.5 km from Overlook gold mine
5) OVL-6: Intersected clastic rocks withup to 20% sulfides. The hole contained significant sulfidesthroughout. A 60 metre zone overlying a limestone unit is highlighted.Sulfides present as disseminations and veins throughout the zone.Sulfides include pyrite, pyrrhotite, chalcopyrite and sphalerite. Thishole was drilled to a depth of 513 metres.
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6) OVL-7: Drilling isunderway.
The Oversight property surrounds the Overlook and KeyWest gold mines which are about one kilometre apart. Mineralization inthe mines is associated with sulfides at the clastic - limestonecontact. Drill hole OVL-6 was collared midway between the twodeposits. The sulfide zone intersected in the drill hole is similarlyat a clastic - limestone clastic contact. The target was intersected at 365.5 metres depth as predicted. A ‘mise a la masse’ geophysical survey on hole OVL-6 isto being completed to determine the geometry and continuity of themineralized horizon.
“ We haveintersected several zones of mineralization that are visuallyencouraging. Intersecting a regional horizon between the Overlookand Key West mines would be significant for the company and labresults will certainly help confirm this concept, ” says Mark Kolebaba, President and CEO of Adamera.
The past producing Lamefoot Mine was host to ~1 millionozs 8-10 g/t Au and the Overlook Mine produced ~ 450,000 ozs at 5.5g/t Au.
The program is operated by Adamera and funded by Hochschild Mining Ltd (LON: HOC) under a jointventure (“JV”) agreement (see press release dated January 22,2020). The 2021 exploration budget is approximately $1.0 million andincludes this Phase 1 drilling program of ~ 3,000 metres testing a minimum offour targets.
The company also announces 6,875,000 warrants grantedon June 22, 2020, with the exercise price of $0.10 and original expirydate of June 22, 2021, and 4,525,000 warrants with an exercise priceof $0.10 granted on July 2, 2020, with an expiry date of July 2, 2021will be extended for a period of 6 months to a date of December 22,2021 and January 2, 2022.
Jim Ebisch P.Geo, a Qualified Person as defined byNational Instrument 43-101, has reviewed data associated with theproject.
Adamera Minerals Corp. is exploring for high-grade golddeposits near Republic Washington. This area has reportedly produced 8million ounces of gold. Adamera is the dominant regional explorer inthe 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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