03:20:24 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Adamera Minerals Corp
Symbol ADZ
Shares Issued 47,629,652
Close 2014-07-22 C$ 0.075
Market Cap C$ 3,572,224
Recent Sedar Documents

Adamera resumes drilling at Oversight, completes survey

2014-07-23 09:36 ET - News Release

Mr. Mark Kolebaba reports

GEOPHYSICAL SURVEY COMPLETED AT OVERSIGHT, TARGETS DEFINED, DRILLING RESUMES

Adamera Minerals Corp. has completed a spontaneous potential (SP) and gradient array survey over part of its 100-per-cent-owned Oversight property in Washington state to target gold-bearing massive sulphide units associated with magnetite. This survey was conducted in response to Adamera intersecting a gold-bearing magnetite/sulphide horizon (see news release dated July 15, 2014).

The survey defines several high-priority targets interpreted to be sulphide-rich horizons. Drilling resumed today to test these targets.

"This survey has identified a series of targets that are interpreted to be sulphide zones with significant strike and width. We are excited by the potential on Oversight because this type of mineralized horizon has been discovered historically in three locations in the area and all occurrences have been mined," said Mark Kolebaba, president of Adamera Minerals.

The Overlook deposit, located approximately 600 metres to the west of Oversight, reportedly contained 425,000 ounces of gold at an average grade of five grams per tonne (g/t) in massive sulphide portions of the magnetite/sulphide horizon.

The Oversight property straddles the existing haul road which was used to transport gold ore from the Overlook, Key East and Key West mines to the mill which is currently owned by Kinross Gold. The mill is used primarily to process ore from the Buckhorn mine which lies nearly 70 kilometres away from the mill. Those three mines produced a total of over one million ounces of gold over the last quarter century. The Oversight property lies about five km from the mill.

Jim Ebisch, PGeol, is the qualified person as defined by National Instrument 43-101 reviewing the data in this release.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.