Vancouver, B.C. - TheNewswire - May 6, 2021 - Adamera Minerals Corp. (“Adamera” or the “Company”) (TSXV:ADZ) (OTC:DDNFF) announces the start of its 2021 drilling program on the Cooke Mountain Gold Project near Republic, Washington. The drill is sited on the Lamefoot South property, the first of three properties to be drilled. The program is being funded by Hochschild Mining Ltd.
The first target, HA-1, is defined by an Induced Polarization (IP) anomaly with gold in soils and a geological setting (limestone-clastic contact) that appears to be similar to that of the past producing Lamefoot gold mine 1,300 metres to the north. The Lamefoot deposit is reported to contain nearly 1 million ounces gold at a grade of 8-10 g/t.
“We are excited to begin our 2021 drilling program. These are well developed multi-discipline targets in close proximity to known deposits. In addition to discovery, our top priority will be to ensure our employees and contractors adhere to Washington state Covid-19 protocols,” says Mark Kolebaba, President and CEO of Adamera.
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 3,000 metres testing a minimum of 4 targets.
Martin St. Pierre P.Geoph, a Qualified Person as defined by National Instrument 43-101, has reviewed data associated with the project.
Adamera Minerals Corp. is exploring for a high-grade gold deposit 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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