Cory and I had an interesting conversation with the folks from Adamera yesterday at the San Francisco Intestment Conference. The Company came out with this news release today:
Adamera Defines New Targets Near the Poland-China Mine
The survey successfully identified several resistive zones, interpreted to be zones of increased silicification and SP anomalies interpreted to be zones of increased sulfide content. Resulting high priority targets have both resistive and SP anomalies. The gradient array survey supports a north-dipping conductive shear zone which appears to continue at depth.
Drill hole DDH-10, which returned 29g/t Au over 0.40 metres within a 3.7 metre wide zone averaging 4.5 g/t Au, appears to have just penetrated the margin of a resistive zone and nearby SP anomaly. The main portion of this resistive zone remains untested and is a high priority target for further drill testing. Several similar untested targets exist within the survey area.
“The correlation between this survey and our new deposit model is compelling. It has delivered several new targets to test around the mine site and provides increased confidence of a significant down-dip extension,” says Mark Kolebaba, President and CEO of Adamera Minerals Corp.
Two to three shallow drill holes are recommended to test the predictability of the high-grade gold zone intersected in DDH-10 and also the extent of a resistive zone.
The survey was designed by and conducted under the supervision of C. Topping. The data was interpreted by R. Fox of Practical geophysics. Jim Ebisch, P.Geol is the Qualified Person as defined by National Instrument 43-101 reviewing the data in this release.
About Adamera
Adamera’s strategy in Washington State is to discover high-grade gold mineralization near the Kinross Kettle River Mill. The Kinross mill is reported to be operating at half capacity with ore shipped 70 kilometres from the 1.3 million ounce Buckhorn mine. The Buckhorn mine has only 2 years reported mine life remaining. Average grade of the Buckhorn mine is 11.3 g/t gold and production costs are reported to be between $420 and $500 per ounce. Adamera is currently exploring five projects with high-grade gold potential within hauling distance of the Kinross Mill.
On behalf of the Board of Directors,
Mark Kolebaba
President & CEO
For additional information please contact:
Heather Kays
Manager, Corporate Communications
Tel: (604) 689-2010
Fax: (604) 484-7143
Email: info@Adamera.com
Website: www.Adamera.com
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.