Vancouver, B.C. - TheNewswire - September 8, 2021 - Adamera Minerals Corp. (“Adamera” or the “Company”) (TSXV:ADZ); (OTC:DDNFF) announces the signing of a data transfer agreement with a wholly owned subsidiary of Kinross Gold Corporation (“Kinross”). The agreement will significantly accelerate Adamera’s exploration program, including drilling on its’ Buckhorn 2.0 Gold Property near Republic, Washington.
Adamera’s Buckhorn 2.0 Gold Property surrounds Kinross’ Buckhorn Gold Mine that was closed in 2017 (see property plan). The mine produced approximately 1.3 million ounces of gold at an average grade of about 12 g/t.
“This dataset represents a multi-million-dollar investment that advances our exploration efforts significantly. Timewise it moves the project forward by two to three years. Furthermore, and very importantly, the transaction allows us to focus our funds on drilling rather than early-stage programs,” says Mark Kolebaba, President and CEO of Adamera.
The Buckhorn data package is comprehensive. It includes multiple airborne geophysical surveys, a large number of soil and surface rock sample analysis, geological maps, ground geophysical surveys and drill hole results. It is known that multiple drill targets were developed by Kinross using this data, the majority were not drilled.
Adamera will deploy geologists and geophysicists to compile and interpret the various datasets to develop targets for drilling. Investors should expect frequent updates as the process progresses.
In exchange for this data, Adamera reserves a 2% royalty for Kinross on claims held on federal lands and a 0.5% royalty on State lease land. Adamera may purchase half of the royalty for $2,000,000.
Jim Ebisch P.Geo, a Qualified Person as defined by National Instrument 43-101, will assist reviewing the data associated with the project.
Adamera Minerals Corp. is exploring for high-grade gold deposits near Republic Washington. This area has reportedly produced 8 million ounces of gold. Adamera is the dominant regional explorer in the area.
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.
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