Vancouver, British Columbia, June 13, 2017 - Adamera Minerals Corp. (TSX-V: ADZ)
announce that it has intersected a massive magnetite zone with significant sulfides in the first drill hole on the Oversight property in Washington State. This zone is distinctly similar to the ore zones described in the Overlook Gold Mine. Assays are pending.
Drill hole OS17-1, intersected 8 metres of massive magnetite with sulfide mineralization between 87.5 metres and 95.5 metres. The stratigraphy overlying and underlying the Oversight magnetite-sulfide zone is also similar to the described stratigraphy at Overlook and includes zones with sulfide and quartz veining. Overlook is located 300 metres west and approximately 100 metres deeper than the Oversight target.
"It is impressive that our first hole intersected the modelled target, a magnetite sulfide horizon. It is this horizon that typically but not always carries high-grade gold values in the Overlook Mine. Whether this intersection yields high grade gold values or not, it is solid proof of concept that our exploration methodology is working. By targeting conductors with a magnetic response and supportive soil chemistry we are capable of finding new sulfide zones at depth,"
states Mark Kolebaba, President and CEO of Adamera Minerals Corp.
Drill hole OS17-1 was drilled at an angle of -75o to intersect the Oversight VTEM conductor at a modelled depth of 70 metres, the actual intersection was at 84 metres vertical depth.
The Oversight VTEM anomaly is a larger target that will require more then one drill hole to be fully testd. A downhole electromagnetic survey will be completed on drill hole OS17-01 to define the lateral and depth extent of the mineralization prior to additional drilling.
The next drill hole is testing the eastern extent of a VTEM conductor associated with the Overlook deposit which appears to be under explored.
Christine Johnson P.Geol, a Qualified Person as defined by National Instrument 43-101 is interpreting geological and geochemical data on the project.Martin St. Pierre P.Geoph, a Qualified Person as defined by National Instrument 43-101 is interpreting the geophysical data for the project.
Adamera Minerals Corp. is exploring for high-grade gold within hauling distance of the operating Kettle River Mill in Northeastern Washington State. While the existing third-party mill and superior logistics allow a smaller resource to be potentially economic, Adamera's primary goal is the discovery of a large stand-alone high grade gold deposit. Adamera is the dominant regional exploration company in the area.
On behalf of the Board of Directors,
President & CEO
For additional information please contact:
Tel: (604) 689-2010
Fax: (604) 484-7143
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.