Adamera Provides Update on Golden Reward Propertyadmin
Vancouver, BC, November 21, 2013 – Adamera Minerals Corp. (TSX V: ADZ) – has received airborne magnetic and radiometric data for the Golden Reward Property in Washington State. The data was recently collected by Kinross Gold Corporation as part of a survey that covered their Toroda Creek Project as well as surrounding land including Adamera’s Golden Reward property. It was provided to Adamera at no cost to the Company.
The Golden Reward property covers the southern portion of a low sulphidation gold bearing epithermal system comprising some 1300 acres (526 hectares) of private land. Since Adamera secured the project, Kinross acquired public land that covers a northern extension of the epithermal system. The project area is located 59 kilometres from the Kinross Mill.
The airborne magnetic data appears to better define local disruptions of linear trends that were not clearly defined by the earlier ground magnetic survey completed by Adamera. Local disruptions of known gold bearing structures constitute priority exploration targets that are considered favourable for wider zones of gold mineralization.
The new radiometric data shows elevated potassium along part of the main structure. Potassium is a common alteration product associated with epithermal gold systems. Importantly, the potassium anomaly is coincident with soil pathfinder elements, particularly arsenic. Other airborne potassium anomalies in areas not yet covered by soil samples exist on the property. These anomalies may represent new exploration targets on parallel structures.
Alteration systems surrounding epithermal gold deposits are often destructive to magnetite and may therefore result in magnetic lows anomalies. A magnetic low is coincident with a potassium high in an area of anomalous gold and trace elements.
"This is a classic gold bearing epithermal structure that is essentially untested at depth. Previous intercepts from limited drilling at less than 100 metres depth intercepted about 1.0 g/t gold over 20 metres. The identification of structural disruptions and alteration that may represent high-grade gold targets is a significant breakthrough for the property," says Mark Kolebaba, President and CEO of Adamera.
Jim Ebisch, P.Geol is the Qualified Person as defined by National Instrument 43-101 reviewing the data in this release.
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 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,
President & CEO
For additional information please contact:
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.
Posted: November 21st, 2013 under ACCESSWIRE.