VANCOUVER, BC / ACCESSWIRE / May 20, 2015 / Adamera Minerals Corp. (TSX V: ADZ) has initiated a ground magnetic survey over the northern portion of the Oversight gold property in Washington state, USA. Of particular interest is a specific area with historic drill holes that interestected high grade mineralization, including 8.5 metres at 32.2 g/t gold.
The mineralized area is part of the past producing Overlook Mine which extends onto Adamera's Oversight property. A list of selected high-grade historic intercepts in the NW part of the Overlook deposit that now fall within the area to be surveyed are listed in the table below.
The historic drill intercepts occur at a depth of approximately 200m.
The survey data will be used to determine if the mineralized trend extends northwards on the property into areas untested by drilling. In addition, the magnetic data could provide a target signature to apply elsewhere on the property and in the region.
"With the discovery of mineralization during our 2014 Oversight exploration program and the model we have developed, this low-cost program could lead Adamera closer to a significant discovery. It is important to consider the number of high-grade gold deposits that are known in the immediate vicinity of Oversight, and the fact that the property is only 5 kilometres from a functioning mill, " says Mark Kolebaba, President and CEO of Adamera Minerals Corp.
Adamera has already defined several high-priority drill targets based on geophysics, soil geochemistry and a geological fold model (See animated video). The Company anticipates drilling these targets later in the summer.
The Oversight Property is located in the Cook Mountain Mining Camp in Washington State where 1 million ounces of gold was mined in the 1990s. The property is 5 kilometres from the operating Kettle River Mill.
B. Kahlert, P.Geol a Qualified Person as defined by National Instrument 43-101 has reviewed the data in this release with the exception of any historical data. The historical data is from private reports and has not been verified by the Company, however, it appears to have been completed under standard best practices consistent with the time and appears to be of reasonable quality.
Adamera Minerals Corp. is exploring for high-grade gold deposits within hauling distance of the operating Kettle River Mill in northeastern Washington State. The Company's strategy is to fast-track the discovery to production process by exploring close to a mill in need of ore. Adamera is exploring several projects with a goal to become the dominant exploration company in the area and to be positioned for M&A activity.
On behalf of the Board of Directors,
President & CEO
Manager, Corporate Communications
Tel: (604) 689-2010
Fax: (604) 484-7143
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.
SOURCE: Adamera Minerals Corp.