Adamera Completes Re-drill of High Grade Drill Hole at Oversight Property - Follow up Drill Hole Now Underway
Vancouver, B.C., December 4, 2018 - Adamera Minerals Corp. (TSX V: ADZ; OTC: DDNFF) announces the completion of drill hole OS18-02B, drilled to test the extension of hole OS18-02 that intersected 19.4 g/t gold over 1.07 metres at the bottom of the hole. That hole terminated at 79.3 meters depth.
Hole OS18-02B twinned hole OS18-02 and was drilled to a total depth of 138.87 metres. Split drill core samples from this hole have been submitted to the laboratory for fire assay.
The new drill hole OS18-02B intersected multiple zones of sulfides and/or sulphide rich magnetite close to the predicted depth of 78.76 down to 108.5 metres. A 4 metre zone of massive to semi-massive sulfides was intersected from 117.56 to 121.52 metres. The gold content of the mineralized zones is unknown.
“The top of the new drill intercept that is visually similar to the interval with 19.4 g/t gold over 1.07 metres in hole OS18-02, measures approximately 3 metres. Below this zone the drill core is mineralogically quite different from anything the Company has previously intersected on the property. At this juncture all that can be said is that the core looks promising. We are now drilling a follow up hole further north along the presumed strike,” says Mark Kolebaba, President and CEO of Adamera Minerals Corp.
Drill holes OS18-02 and OS18-02B are the northern most drill holes in a cluster of holes that were designed to test a strong magnetic high anomaly southeast of the Overlook Mine. Drilling results from the cluster indicates an increase in gold grades and intercept frequency towards the north.
3D modelling and numeric interpolation of grade data from approximately 94 drill holes on or near the Overlook Mine has predicted a priority area immediately east and northeast of drill hole OS18-02.
Martin St. Pierre P.Geoph, is a Qualified Person as defined by National Instrument 43-101 and has reviewed data associated with the project. Gold analysis was completed by Activation Laboratories using fire assay methods.
Adamera Minerals Corp. is exploring for a stand-alone high-grade gold deposit within hauling distance of an existing mill near Republic, Washington. This area has reportedly produced over 6 million ounces of high-grade gold. Adamera is the dominant regional explorer in the area.
On behalf of the Board of Directors,
President & CEO
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.