Vancouver, B.C. - TheNewswire - December 15, 2020 - Adamera Minerals Corp. (TSXV:ADZ) (OTC:DDNFF) reports that mapping and prospecting is identifying multiple areas of interest on the 100% owned Buckhorn 2.0 gold project in Washington State. A significant area of interest is the Keystone target (reported December 1, 2020). Another site is the historic Magnetic Mine area where Adamera rock samples have yielded some high copper, silver, bismuth, and tungsten values along with modest to anomalous gold values up to 1.4 g/t over a broad area of skarn that extends laterally for as much as 700 metres.
The Buckhorn 2.0 gold property was acquired in mid 2020 and it is adjacent to the Crown Jewel gold deposit that was mined entirely underground by Kinross Gold from about 2008-2017. It was known to be one of the highest-grade gold deposits in the United States, producing 1.3 million ounces of gold at an average grade of 12 g/t. This mineralization was hosted primarily by skarn.
The Magnetic Mine and adjacent historic prospects lie upon Adamera land immediately north of the Buckhorn Mine and were of interest historically for iron ore, copper, gold and silver. Once the high grade Buckhorn deposit was discovered negligible work was done in the Magnetic Mine area despite the presence of extensive skarn mineralization. Adamera collected 44 grab samples along approximately 700 metres of skarn. Nineteen of the samples contain +1000 ppm copper and five samples range from 1% to 6% copper. Thirty-three of the samples contain silver in the range of 1 g/t to 288 g/t. Copper, silver, gold, bismuth and tungsten appear to be associated with increased sulfide mineralization in the skarns. Many of the samples were collected along road cuts or in historic prospect pits as outcrop exposure is rare.
“Samples from the Magnetic Mine area report significant copper and silver values. Gold values up to 1.4 g/t are also significant as an indicator of the gold potential of the area. Our strategy will be to search for unexposed high-grade gold zones in the vicinity of controlling structures and/or occurrences of different skarn types, including the one characteristic of the Buckhorn deposit. This work should also provide a better understanding of the distribution of high-grade copper and silver mineralization in the area. The copper/silver potential might well be significant considering the current copper/silver prices,” says Mark Kolebaba President and CEO of Adamera Minerals Corp.
Detailed mapping by Adamera, combined with previous drilling by the US Bureau of Mines, indicates that the known surface extent of the skarn zone is up to 500 metres wide (E-W), 600 metres long (N-S) and up to 200 metres thick. The down-dip extent of the skarn body is unknown. The skarn consists primarily of garnet and epidote with locally massive to stockwork and disseminated sulfide/magnetite mineralization. Although copper/silver/gold mineralization is certainly widespread, it may not be ubiquitous. The paucity of outcrop currently precludes any definitive conclusion regarding the overall distribution of sulfide mineralization.
To help identify high-grade gold targets in areas with little outcrop exposure, geophysical and geochemical methods will be deployed. Detailed ground magnetic surveying and soil geochemical sampling is initially planned over a large area that includes the Magnetic Mine.
Historic work at Magnetic Mine area includes some iron ore mining. In 1944 the US Bureau of Mines drilled 7 holes and reported significant iron mineralization within and near the base of a large body of skarn. One drill hole intersected 298 metres of garnet/epidote/magnetite skarn, terminating within skarn. The holes were not tested for gold, silver or copper. Earlier drilling and pitting by companies including Granby Consolidated Mining Smelting and Power Company in 1911 reported up to 4.3% copper over 6 metres and gold grades up to 5 g/t. The high-grade copper intercept occurred within a 34 metres interval that contained a minimum of 0.20% copper. True thickness of any of the preceding mineralization is unknown.
To listen to the latest interview on the company projects with Mark Kolebaba (click here ).
Jim Ebisch, P. Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed data associated with the project. While the drill data is historic in nature and can’t be verified, the work appears to have been conducted in a manner consistent with the quality standards at the time.
Adamera Minerals Corp. is exploring for multiple high-grade gold deposits in northeast Washington State. This area has reportedly produced +7 million ounces of gold. Adamera is the dominant regional explorer in the area.
On behalf of the Board of Directors,
President & CEO
For additional information please contact:
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.