Vancouver, BC - TheNewswire - June 8, 2023 - Adamera Minerals Corp. (TSX V:ADZ) (OTC:DDNFF) has commenced its 2023 exploration program on the Buckhorn 2.0 Gold Project in Washington State. A field crew is currently collecting additional geochemical and geophysical data to better resolve targets.
Plans for drilling at Buckhorn include follow-up drilling at the VTEM1 target and initial testing of the new VTEM30 target. Both targets are drill permitted.
At VTEM1, gold values of interest were intersected in 2022 in 2 zones associated with skarn altered rocks on either side of a magnetite unit located 700 metres from the Buckhorn mine (See News Release dated January 24, 2023). Follow-up drilling is designed to further test the mineralization laterally and at depth.
The new VTEM30 target is a large scale target in the Keystone area, approximately 1.5 kilomteres from the Buckhorn mine. The target has been developed from changed parameters for modelling various Buckhorn mine datasets. As a result a “blind” large scale feature that was never tested in the past is now a priority. The estimated depth of the target is approximately 300 metres.
The VTEM30 target is defined by several geophysical datasets and is supported by gold in soil anomalies. It is located in an area with prospective geology similar to the Buckhorn Mine. The attached video describes the target and various datasets used.
“The geophysical expression of VTEM30 resembles that associated with the Buckhorn orebody but at a slightly greater depth. The correlation between separate and independent datasets is strong. Importantly, this target has the dimensions to represent impressive tonnage potential.” says Mark Kolebaba President and CEO of Adamera.
The past producing Buckhorn Mine was operated by Kinross Gold. It produced approximately 1.3 million ounces of gold at a grade of about 13 g/t.
Separately, the Company reports drill results for the last 3 drill holes on the Lamefoot South Property in Washington State. These holes were designed to test the possible extension of a gold bearing zone that yielded 10.5 g/t gold over 4.5 metres. No significant gold results were reported for the three holes. The Company will continue to review the potential of this property but this particular target is downgraded as the tonnage potential has been detetmined to be limited.
Martin St. Pierre P.Geo, a Qualified Person as defined by National Instrument 43-101, has reviewed various 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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