Vancouver, B.C. - TheNewswire - July 27, 2021 - Adamera Minerals Corp. (“Adamera” or the “Company”) (TSXV:ADZ); (OTC:DDNFF) provides an update on the 2021 drilling program with joint venture partner Hochschild Mining LLC (LON: HOC) on the Cooke Mountain project near Republic Washington.
Due to extremely dry and hot weather conditions, fire threats in the area have continued to escalate and drilling operations have been suspended temporarily until the fire threat subsides. Up until the suspension drilling had progressed well with a total of 8 holes completing just under 3000 metres. Drilling tested a number of targets as follows:
--2 holes on the Lamefoot South property
--2 holes on the Goodfoot property
--2 holes north of the Overlook Mine
--2 holes near the Oversight Prospect south east of the Overlook Mine.
An estimated 800 samples are to be submitted for gold and multi-element analysis. So far, only gold results for 153 samples have been received. The samples returned have identified gold, however have not yet identified areas with significant high-grade gold intervals. Adamera has yet to receive results for the entire length of any drill hole.
“We are encouraged by what we are seeing in the drill core and anxiously await lab results. As with the rest of the industry assay delays are frustrating to us all. During this drill shut down the company will evaluate results as they come in and prioritize targets using all the data from the drill holes,” says Mark Kolebaba, President and CEO of Adamera.
In addition to drilling, Adamera is completing a ground magnetic survey over the Iron Mountain claims, part of the Cooke Mountain JV with Hochschild.
The program is operated by Adamera and funded by Hochschild Mining Ltd (HOC: LON) under a joint venture (“JV”) agreement (see press release dated January 22, 2020). The 2021 exploration budget is approximately $1.0 million and will include a Phase 1 drilling program of about 3000 metres testing a minimum of four targets.
Jim Ebisch P.Geo, a Qualified Person as defined by National Instrument 43-101, has reviewed 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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