Drilling Update at Oversight Project in Washington State
Vancouver, BC, Sept 9, 2014 – Adamera Minerals Corp. (TSX V: ADZ) has completed 9 shallow drill holes on the 100 % owned Oversight project in Washington State. Five of the holes intersected the mineralized horizon which ranges from 2.5 to 6 metres in thickness. Gold assays for the intersections are pending.
The Oversight mineralized horizon appears to be an extension of the adjacent Overlook deposit as it is in roughly the same stratigraphic position and exhibits the same style of mineralization. The drill data and assays will be used to help vector towards high-grade gold mineralization within the horizon.
"It appears that this mineralized horizon which hosts the Overlook, Lamefoot and Key West deposits is laterally extensive on the property and we are now focusing on targeting high -grade zones," says Mark Kolebaba, President of Adamera Minerals.
Earlier in the program Adamera intersected a gold bearing magnetite/sulfide horizon. An angled drill hole at a depth of 28.7 metres intersected a 6.8 metre zone of predominantly magnetite with a 0.3 meter zone of massive sulfides containing 2.5 g/t gold. (See News Release July 15, 2014)
The Overlook deposit, located approximately 600 metres to the west of Oversight, reportedly contained 425,000 oz of gold at an average grade of 5g/t in massive sulfide portions of the magnetite / sulfide horizon.
The Oversight property straddles the existing haul road which was used to transport gold ore from the Overlook, Key East and Key West mines to the mill which is currently owned by Kinross Gold. The mill is used primarily to process ore from the Buckhorn Mine which lies nearly 70 km away from the mill. Those three mines produced a total of over one million ounces of gold over the last quarter century. The Oversight Property lies about 5km from the mill.
Jim Ebisch, P.Geol is the Qualified Person as defined by National Instrument 43-101 reviewing the data in this release.
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.
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.