Adamera Minerals Provides Video Update on Key West Discovery Follow Up
TSX VENTURE: ADZ
Vancouver, B.C., / TheNewswire / April 30, 2019 - Adamera Minerals Corp. (TSX V: ADZ; OTC: DDNFF) has completed a review of its 2018 gold discovery at the past producing Key West Mine property on the Cooke Mountain project in Washington State. The video featured below shows the discovery holes along with data used to predict additional discovery success.
In 2018 Adamera drilled two holes in the Key West target area. The first drill hole, KWN18-01, tested a VTEM anomaly located 300 metres north of the past producing Key West Mine intersecting upper and lower gold bearing zones. The upper zone from 33.2 metres to 37.6 metres yielded 2.32 g/t gold over 4.4 metres, including 3.8 g/t gold over 2.34 metres. The lower zone from 122 metres to 139 metres yielded 0.6 g/t gold over 17 metres, including higher grade intervals of 2.8 g/t gold over 1.8 metres and 4.5 g/t gold over 1.0 metre. This early discovery requires follow up drilling.
"It is quite remarkable that with our targeting, we were able to step out 300 metres north of the past producing Key West Mine and intersect significant gold mineralization with one drill hole. Since that time, we have refined our targeting around the discovery hole and are planning a series of follow up drill holes to determine the extent of the mineralization and attempt to locate higher grade gold zones," says Mark Kolebaba, President and CEO of Adamera Minerals Corp.
The second hole, KWC18-01, was collared approximately 30 metres from the north end of the Key West Mine. The hole intersected 3.8 g/t gold over 1.2 metres at a down hole depth of 8 metres. In addition, elevated gold values of 0.9 and 0.7 g/t gold were intersected at depths of 48 metres to 52 metres and 84 metres to 88 metres respectively. (See news release dated April 10, 2018)
"These targets are part of a larger target area extending more than 650 metres north of the Key West gold mine and 300 metres south. Although we are exploring for higher grades, the discovery of previously unknown mineralization in two widely spaced holes is encouraging and supportive of our exploration approach," states Mark Kolebaba, President and CEO of Adamera Minerals Corp.
The higher-grade gold zones appear to be dominated by magnetite and sulfides, suggesting detailed ground magnetic data is important for follow up drill hole selection. In addition, magnetic low features near the discovery hole are similar to magnetic low features at the Oversight project where high-grade gold mineralization was recently discovered during the 2018 drill program. (See news release dated February 14, 2019)
Adamera is currently planning a 10 to 15 hole follow up drill program to further test the Key West discovery area.
Key West is part of the Overlook Trend area within the Cooke Mountain project and is situated along the existing haul road approximately 7.5 kilometres from the Kettle River Mill.
Martin St. Pierre P.Geoph, are Qualified Persons as defined by National Instrument 43-101 that have supervised the collection of data and reviewed data associated with the project.
Adamera Minerals Corp. is exploring for a stand-alone high-grade gold deposit within hauling distance of an existing mill near Republic Washington. This area has reportedly produced over 6 million ounces of high-grade gold. Adamera is the dominant regional explorer in the area.
On behalf of the Board of Directors,
President & CEO
For additional information please contact:
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.