(TheNewswire)
Vancouver, B.C. - TheNewswire - October 20, 2022 - Adamera MineralsCorp. (TSXV:ADZ ) ; ( OTC:DDNFF) announces theintersection of sulfide zones in three separate targets on theBuckhorn 2.0 gold property in Washington State. Drilling continues onone hole and will move to other targets while the Company awaitsassays. The three targets are located within 1500 metres of the formerBuckhorn Gold Mine.
“Our systematic explorationapproach is clearly working as we have hit previously unknown sulfide bodies on all three targets. It is well established thatgold in the nearby Buckhorn mine occurs with sulfides, so I amencouraged that our methodology is significantly enhancing our odds ofdiscovery, ” says Mark Kolebaba, President and CEO ofAdamera Minerals Corp. Mark added ,“We are using the same approach we employed at our Lamefoot Southproject where we recently discovered a high-grade gold zone. We willresume drilling on that property as winter conditions develop atBuckhorn.”
A brief summary of each drill hole is provided below:
Drill h ole BM22-01 tested a coincident magnetic, VTEM,self-potential and VLF-EM anomaly. Several anomalous soil samples withgold values ranging from 300 to 7000 ppb gold were recovered near thedrill collar.
Intersected: From 92mto 161.5m - 69.5m of sulfide bearing rock
Drill hole BM22-03 tested acoincident magnetic self-potential anomaly that extends 65 metres tothe east and 350 metres to the west to an untested target calledVTEM-13. A rock sample collected from outcrop near the drill collaryielded 12.1 g/t gold.
Intersected: From175.11m to 215.8m – 40.69 m of sulfides with magnetite
Drill hole BM22-02 iscurrently being drilled. It is testing a strongly magnetic VTEMconductor that was modelled to be 250 metres long by 40 metres wide,extending to a depth of 250 metres. A historic drill hole that appearsto have intersected this anomaly approximately 100 metres to the eastyielded 5.2 g/t gold over 6.1 metres.
Intersected: From 0to13.87m – 13.87m of skarn with sulfides
13.87m to 42.5m – 28.63m of magnetite withsulfides
42.5m to 48.4m – 5.9m of skarn with sulfides
108.8m to 111.4m – 2.6m of skarn with sulfides
111.4m to +152m – Drilling inprogress - 41m of skarn with magnetite and sulfides (still drilling inzone).
The Buckhorn Mine, a gold-rich skarn with magnetite and sulfides,produced 1.3 million ounces of gold at a grade of 13 g/t. The Buckhornproperty is located 80 kilometres by existing road to the Kinross’Kettle River Mill which is currently on care and maintenence.
Assay results for the drill core are pending. Drilling is planned tocontinue at Buckhorn while favourable weather conditions persist. Uponcompletion of drilling at Buckhorn, the drill will move back to theLamefoot South property where a 4.5m zone with 10.5 g/t gold,including 2.30 metre zone with 17.5 g/t gold awaits follow up. Thedrill performing this work is operated by Adamera, a very costeffective way to undertake such a program.
Gordon Gibson P.Geo, 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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