Adamera Defines New Targets Near the Poland-China Mineadmin
Vancouver, BC, November 27, 2013 – Adamera Minerals Corp. (TSX V: ADZ) – announces that a recently completed geophysical survey over and around the historic Poland-China Mine in Washington State has defined new targets and corroborates the new shear hosted gold model (See release dated October 16, 2014) for mineralization on the property.
At the Poland-China Mine, a highly conductive 30-40 metre thick graphitic shear zone dipping shallowly to the north is variably mineralized with gold. Higher-grade gold (3-44 g/t Au) is associated with zones of intense silica alteration and increased sulphides while lower gold grades (0.5-2 g/t Au) occur within a graphitic shear matrix. An electrical gradient array survey was completed to identify resistive silica rich high-grade gold zones within the highly conductive graphitic shear zone, and spontaneous potential (SP) values were recorded at each site to identify possible sulphide-rich zones.
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.
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,
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 27th, 2013 under ACCESSWIRE.