Vancouver, British Columbia, September 25, 2017 - Adamera Minerals Corp. (TSX-V: ADZ)
Adamera Minerals provides an update on its 2017 drill program. The drill crew is back on site on the Oversight /Overlook targets for follow up drilling. Due to cooler temperatures and recent precipitation, restrictions on our drilling activities have now been lifted.
Holes OS17-01and OS17-03 which tested the Oversight conductor contained shallow zones with high-grade gold (see news dated Sept 07, 2017). Follow up drilling of this mineralization is our immediate priority.
Drill hole OS17-02 tested a portion of a separate conductor extending from the former Overlook gold mine. The drill hole intersected a late stage intrusive and only minor gold mineralization without adequately testing the VTEM target. Overlook/Oversight drilling will also test gold in soil anomalies where parts of the Overlook conductor extend beyond the limits of the mine workings.
Several of the highest priority VTEM anomalies await drilling as they are located on US Forest Service lands. Drilling permits progressed more slowly than anticipated but are expected shortly.
Mark Kolebaba, President and CEO states, "Our news flow has been poor due to laboratory delays, fire restrictions and US Forest Service permitting. I assure shareholders that we will see more timely news flow going forward. Mark Kolebaba further states, "We have been continuously working throughout these delays. The combination of our VTEM survey and ongoing surface exploration is continuing to define high quality targets."
Mr. Yale Simpson, Chairman of Adamera stated, "I have invested heavily in Adamera because I think this play is a superb discovery opportunity. Adamera's VTEM survey generated discreet anomalies on all of the former gold deposits. As our survey identified many significant targets, of which only a few have been tested to date, the play continues to be exceptional in my view."
Apart from Oversight/Overlook, additional three conductors were tested by drill holes HLK17-01, HLK17-02 and GF17-01 (Big Banana). All intersected zones with graphite and sulfides at the target depth. Results for HLK17-02 and GF17-01 are pending. Results received for HLK17-01 showed no significant gold.
Four shallow holes were drilled to test strong gold soil anomalies on the Oversight and Good Foot property. Assays are pending.
Martin St. Pierre P.Geoph, a Qualified Person as defined by National Instrument 43-101 has reviewed the data in this release.
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.