Adamera Identifies New Targets Assaying up to 12.5 g/t Gold on Flag Hill Property
Vancouver, BC, February 12, 2014 - Adamera Minerals Corp. (TSX V: ADZ) -- announces that several important new gold-bearing targets have been defined on the northern part of the 100% owned Flag Hill Property located near Republic, Washington State. Surface grab samples from several recently mapped vein sets have yielded gold results as high as 9.5 and 12.5 g/t gold. The definition of these additional targets has significantly enhanced the potential of the Flag Hill Property.
Six veins or vein systems were identified on the property by geological mapping and prospecting in 2013. Four new exploration targets on the property are summarized below. These targets are in addition to the Flag Hill Vein that is exposed on the southern part of the property (see news release dated January 29, 2014).
Numerous poorly-exposed northeasterly trending epithermal veins that commonly contain 2-3 g/t gold in grab samples occur within a 100 meter wide northeasterly trending linear topographic depression or corridor likely caused by a shear zone or faulting. Although bedrock exposure in the corridor is quite poor due to the subdued topography, it was noted that some samples contained disseminated sulfide mineralization which also extended into the wall rock adjacent to the veins. A ground magnetic survey completed by Adamera indicates that this corridor extends northeast towards the Quilp Mine and to the southwest towards the Morning Glory Mine. The Quilp Mine was documented to have an average grade of about 13 g/t gold and 170 g/t silver from a silica vein averaging 2.3 meters width. Historic production from the Morning Glory Mine is not well known. No evidence of previous drilling or historic production along this corridor has been identified on the Adamera property.
The northern margin of the above mentioned corridor is flanked by a historically mined vein system. Preliminary surface rock samples taken from this vein system assayed between 0.38 and 9.52 g/t gold. With the exception of the old mine workings, there is no evidence of drilling or modern exploration along this vein, making it an excellent exploration target. No historic production has been documented on this target.
Thirty metres north of the vein corridor is a northwesterly trending vein or vein set which is exposed intermittently for about 50 metres. Three grab samples collected along this vein yielded 12.5, 5.9 and 2.2 g/t gold. This vein represents a new target on the property. Of particular interest is the portion of this vein that intersects the corridor where there is no bedrock exposure. No evidence of previous drilling along this vein has been identified. No historic production has been documented on this target.
A north trending vein set in the northern part of the property is roughly parallel to the Flag Hill Vein. Surface grab samples from this vein commonly contain 2-3 g/t gold. Washington State geologists reported about 4 g/t gold and 4 g/t silver over about a 2.5 metre width at surface from this vein. A poorly-documented drill hole completed in the 1980s reportedly intercepted about one meter of about 8 g/t gold at shallow depth. Recent cross-sections created by Adamera suggest the Flag Hill Mine workings ended about 30 meters short of the down-dip projection of this vein, roughly 100 meters down-dip from the surface. The southern extension of this vein is considered a high priority target, especially where it intercepts the corridor described above. No historic production has been documented on this target.
The company is currently planning an exploration program for the Flag Hill Property which will include drill testing these northern targets. Most of the new targets defined at Flag Hill are underexplored compared to most parts the Republic Mining District. In addition to the 4 targets described above, plans to test other veins such as the Flag Hill vein and its projected intersection with the corridor are also being considered. (See news release dated January 29, 2014)
"The textures we see in the northern veins are similar to those of the Flag Hill Vein and are typical of the uppermost parts of an epithermal vein system. Work completed so far indicates that the gold grades increase with depth on the Flag Hill Vein. We hope to see the same trend on the newly-defined targets. The new targets are of particular interest because we are already seeing up to 12.5g/t gold at the surface, not the approximate average of 0.25 g/t gold that we see on surface exposures of the Flag Hill Vein" says Mark Kolebaba president and CEO
The Republic gold district produced about 3 million ounces of gold at an average grade of 20 g/t and 15 million ounces of silver at an average grade of 110 g/t. Mining operations in the Republic District ceased in 1996.
Adamera is exploring for high-grade gold near an operating mill in Washington State owned by Kinross Gold Corp. The mill is reported to be operating at half capacity with ore shipped 70 kilometres from the 1.3 million ounce Buckhorn mine. The Buckhorn mine is a high-grade, low cost producer with only 2 years mine life remaining. Adamera is currently exploring five projects with high-grade gold potential within hauling distance of the Mill.
Jim Ebisch, P.Geol is the Qualified Person as defined by National Instrument 43-101 reviewing the data in this release. The historical information in this release is from private reports and has not been verified by the Company, however, it appears to have been completed under standard best practices consistent with the time and appears to be of reasonable quality. All samples taken by Adamera and reported in this news release are grab samples which were analyzed by Acme Analytical Laboratories Ltd. Samples were partially digested using an aqua regia solution and analyzed for gold using ICP-MS.
On behalf of the Board of Directors,
President & CEO
For additional information please contact:
Manager, Corporate Communications
Tel: (604) 689-2010
Fax: (604) 484-7143
Email: [email protected]
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.