Mr. Mark Kolebaba reports
INITIAL IP DATA DELINEATES SIGNIFICANT GOLD TARGETS ON THE OVERLOOK TREND
Adamera Minerals Corp.has provided initial results of an induced polarization (IP) survey on the Overlook gold trend, 200 metres southeast of the historic Overlook mine in Washington State. The survey covers an area drilled earlier by Adamera where drill holes OS17-01 and OS17-03 intersected zones of high-grade gold including 6.5 grams per tonne gold over three metres and 10 g/t gold over 1.2 metres (see news release dated Sept. 7, 2017).
Drill holes OS17-01 and OS17-03 were collared from the same location and drilled to the southeast to test a VTEM (versatile time domain electromagnetic) conductor at a depth of 80 metres. In addition to intersecting the conductor at depth, sulphide veining was intersected within shallower zones of intense silica alteration. These zones yielded high-grade gold assays for Adamera.
Shallow vein-type stockwork mineralization accounted for a significant portion of the historical gold produced from the Overlook and Lamefoot mines. Adamera interprets the mineralization intersected in the recently drilled holes as stockwork style.Furthermore, the mineralization wasnot detected with Adamera's magnetic or electromagnetic surveys. To test an alternative exploration methodology the company initiated IP surveying over the area.
The IP survey has delineated an area of anomalous chargeability on seven consecutive 100-metre-spaced lines. The data are interpreted as representing two subvertical targets estimated to be 25 to 50 metres wide. Adamera drill holes OS17-01 and OS17-03 tested the area between the subvertical targets. To effectively drill test the new geophysical targets, follow-up drill holes will be oriented westerly rather than southeasterly.
"Having a means of targeting the upper-vein-type mineralization could be a very effective exploration tool in this district,"says Mark Kolebaba, president and chief executive officer of Adamera Minerals.
"This style of mineralization is undetectable by magnetic and electromagnetic methods. Based on our geophysics, the distribution of gold and trace elements in soils, and drilling our new targets have significant potential."
A second IP anomaly is developing in the northern part of the area being surveyed. The northernmost survey line is near historic drill sites that reportedly intersected zones with quartz-sulphide stockwork veining that assayed up to five g/t gold over 45 metres. Surveying is continuing.
Martin St. Pierre, PGeo, a qualified person as defined by National Instrument 43-101, has reviewed the data associated with the projects.
About Adamera Minerals Corp.
Adamera Minerals is exploring for a stand-alone high-grade gold deposit within hauling distance of an existing mill near Republic, Wash. This area has reportedly produced over six million ounces of high-grade gold. Adamera is the dominant regional explorer in the area.
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