(TheNewswire)
Vancouver, B.C - TheNewswire - October 27, 2022 - AdameraMinerals Corp. (TSXV:ADZ ) ; ( OTC:DDNFF) has initiated drilling on a fourthtarget on the Buckhorn 2.0 Gold Project in Washington State. Thetarget, referred to as VTEM7 is located 2 kilometres from the pastproducing Buckhorn Gold Mine. The US Forest Service recently grantedapproval to drill this highly rated target.
VTEM7 is primarily a geophysical target, characterised as a VTEM* electromagnetic (EM) conductor with coincident magnetic, VLF-EM andself-potential (SP) anomalies. Significantly it is supported by goldgeochemistry. A map showing VTEM7 is provided below in this newsrelease.
“ We have been waiting quite sometime for access to drill this target. As far as targets go, VTEM7 issupported by every exploration method we have been able to throw atit. We know for a fact that the Buckhorn Gold Mine was a conductivemagnetic zone, similar to our target. Our recent drilling at bothBuckhorn 2.0 and Lamefoot South has delivered some impressive sulfidezones so I expect VTEM7 will not disappoint in that regard. One alsohas to be encouraged by the presence of gold in the overlying surfacerocks ” says Mark Kolebaba, President and CEO of AdameraMinerals Corp.
Detailed Target Description:
VTEM Survey - This strong EMconductor is modelled as a sizable sub-horizontal shallowly southplunging plate measuring 300 metres by 60 metres at approximately 100metres depth. High concentrations of sulfides may be the source ofthis EM conductor. Buckhorn Gold Mine was a strong EM conductor.
Detailed Ground Magnetics -The magnetic data shows a coincident dipolar anomaly interpretated tobe caused by skarn alteration. The Buckhorn gold deposit wasassociated with skarn alteration.
Surface Geochemistry - Severalsulfide rich rock samples collected immediately above the conductiveplate yielded significant gold values ranging from 1 to 6 g/t (see Mapbelow). These samples confirm the presence of sulfides and gold in theimmediate area further elevating this targets priority ranking.
SP and VLF-EM - The Companyhas identified strong SP and VLF-EM anomalies along the northernextent of the conductive plate model. These anomalies are interpretedto represent sources at shallower depths than the VTEM anomaly.
Historic Drilling - Furthersupport of possible gold bearing mineralization is provided by a 1991vertical drill hole located on the southwestern edge of the EMconductive plate. The hole intersected multiple zones with anomalousgold up to 0.454 g/t gold over 1.5 metres.
The current drill hole is planned to pass through the center of theVTEM EM plate. A second hole may be required to test the northernextent of the target.
Map 1. The map shows the various geophysical anomalies that define theVTEM7 target. The black dots overlying the geophysical anomaliesrepresent gold values in rock samples.
Drilling at Buckhorn 2.0 is subject to weather conditions. Uponcompletion of drilling at Buckhorn, drilling will commence at LamefootSouth property where a 4.5 metre zone with 10.5 g/t gold, including a2.30 metre interval with 17.5 g/t gold awaits follow up. Results forthe three holes drilled previously at Buckhorn 2.0 are pending.
The Buckhorn Mine produced 1.3 million ounces of gold at an average grade of 13 g/t. The Buckhorn property is located 80 kilometres byexisting road to the Kinross’ Kettle River Mill which is currentlyon care and maintenence.
*VTEM is a helicopter-borne geophysical method designed to detectdeeply buried conductive rocks with high concentations of sulfideswhich could be associated with gold and/or base metal mineralization.The VTEM dataset for Buckhorn 2.0 was obtained from Kinross Gold inlate 2021.
Martin St. Pierre P.Geoph, a Qualified Person as defined by NationalInstrument 43-101, has reviewed data associated with the project.
About Adamera
Adamera Minerals Corp. is exploring for a high-gradegold deposit near Republic Washington. TheAdamera projects are located in a prolific gold district which hasreportedly produced over 17 million ounces of high-grade gold. Adamera is the dominant regional explorer in thearea.
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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