Adamera Minerals Receives Approval to drill targets at Goodfoot
TSX VENTURE: ADZ
Vancouver, B.C. / TheNewswire / June 4, 2019 - Adamera Minerals Corp. (TSX V: ADZ; OTC: DDNFF) announces the Washington State Department of Natural Resources (DNR) has granted approval for 16 drill sites on the Goodfoot property on the Lamefoot Trend in Northeast Washington State (See map below). These sites are in addition to the sites approved at the Lamefoot South property announced May 28th.
The Goodfoot property is 2000 m south of the Lamefoot Mine and appears to be located along strike of the Anfo fault that is believed to control the high-grade gold mineralization at the Lamefoot Mine.
The Lamefoot Gold Mine was the largest and highest grade mine in the Cooke Mountain District. The ore from this mine occurred as magnetite sulfide rich mineralization at the limestone-clastic contact and as silica-sulfide veins in the clastic rocks near limestone. The silica-sulfide veined ore was reportedly the dominant form of mineralization in the mine.
Several targets have been delineated on the Goodfoot property. The top targets are defined by moderate magnetic anomalies associated with coincident induced polarization (IP) and VLF-EM anomalies located along the same or similar limestone geological contact as the Lamefoot Mine to the north. Coincident gold and arsenic soil anomalies further support these targets as possible mineralized zones. Click above for Video
NE Washington has produced 6 million ounces of high-grade gold historically. Adamera has estimated that more than 2 million ounce of known gold mineralization remains in the district on Kinross Gold Corp, Fiore Gold and Hecla owned land. The Adamera targets represent potential discoveries in area. Goodfoot is approximately 7 km from the Kettle River Mill.
"The Goodfoot targets have been significantly de-risked as exploration targets using various exploration methods. The Goodfoot targets are compelling and offers good speculative discovery potential." Says Mark Kolebaba, President and CEO of Adamera.
The targets are defined by geophysical and soil geochemical data and are subject to change as new information is obtained.
Martin St. Pierre, P.Geoph, is a Qualified Person as defined by National Instrument 43-101 and has reviewed certain 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.