(TheNewswire)
Vancouver, BC - TheNewswire - January 2 4 ,2023 - Adamera Minerals Corp. (TSXV:ADZ ) ( OTC:DDNFF) drilling has identified a new gold zone on the VTEM-1 targetat the Buckhorn 2.0 Gold Project in Washington State.
Drill hole BM22-02, an angled hole drilled from west toeast, intersected shallow gold zones on each side of a massivemagnetite skarn. The upper western zone returned 3.8 g/t gold over1.2m from 12.8m to 14m downhole. The lower eastern zone yielded 4.0g/t gold over 1.6m from 22.8m to 24.4m depth. The magnetite unititself has elevated gold values.
Zone | From (m) | To (m) | Interval (m) | Gold (g/t) |
Upper | 12.8 | 14 | 1.2 | 3.8 |
Magnetite | 14 | 22.8 | 8.8 | 0.2 |
Lower | 22.8 | 24.4 | 1.6 | 4.0 |
“ I certainlydon’t under-estimate the significance of this new mineralization.BM22-02 intersected gold zones very close to surface leaving asignificant strike length for follow up drilling. VTEM1 will be rankedwith other targets as we design our follow up program,” says Mark Kolebaba, President and CEO of AdameraMinerals .
In the upper zone, gold is associated with brecciatedskarn containing silica, sulfide and magnetite infill. Both zonesappear to have undergone late-stage gold enrichment. Significantly,the BM22-02 intersections fall within a well defined magnetic targetassociated with VTEM-1 . The magnetic anomaly is traceable for severalhundred metres and is well definerd for follow up drilling.
Geophysical modelling of data associated with VTEM-1generated a conductive steeply-dipping tabular zone suggestive ofsulfides within a magnetite skarn. The Buckhorngold mine, located 700m from VTEM-1, is a gold-rich skarn withmagnetite and sulfides that has a comparable geophysical signature.
The mined out Kinross Buckhorn mine produced 1.3million ounces of gold at a grade of 13 g/t. The nearby Kettle Rivergold mill is currently on care and maintenance.
Trace element geochemistry is pending for drill holeBM22-02. The Company has received results for other targets and iscurrently reviewing the data. Drilling at Lamefoot South is currentlyunderway.
Figure 1. The coloured insert showsa large area of strong magnetics in purple. Inversion of the magneticdata has defined a “U” shaped volume of highly magnetic rockmost probably caused by the mineral magnetite. At the Buckhorn Mine,gold mineralization is associated with magnetite and sulfides. Thisimage shows the Adamera and several historic gold intercepts withinthe highly magnetic target. This target area has been subjected tovery little drilling and remains mostly untested.
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 and uncertainties inherent inresource exploration and development. As a result, actual results mayvary materially from those described in the forward-lookingstatements.
Copyright (c) 2023 TheNewswire - All rights reserved.