Adamera Intersects High-Grade Gold at the Poland China Project
October 16 2013 - 8:45AM
Access Wire
Vancouver, BC, October
16, 2013 - Adamera Minerals
Corp. (TSX V: ADZ) -
announces that it has completed a 404 metre, 12 hole
geological drill program and structural analysis on the Poland
China property in Washington State (See news release dated July 11,
2013). High-grade gold mineralization
appears to occur in plunging silicified shoots within an extensive
shallow dipping graphitic shear zone.
Several short reconnaissance holes
adjacent to the historic Poland China mine were drilled towards the
south to obtain geological information on the local strata and
structures in areas lacking outcrop. The exception, DDH-10, drilled
in an eastward direction at -50o, intersected 29.6 g/t gold over 0.4
meters within a 3.7 metre zone averaging 4.5 g/t gold at a depth of
4.6 metres. Mineralization in DDH-10 is more consistent with the
high-grade gold zones observed in the mine workings. Several of the
geological holes drilled southward along strike of the historic
mine also intersected mineralized zones with gold values ranging
from 1-4.6 g/t over at least a one metre drill interval.
"This initial
exploration program using a low cost, lightweight drill was
successful in defining targets by providing geological information
in an area with little outcrop exposure," says Mark Kolebaba, President and CEO of Adamera Minerals
Corp. "This type of
drilling, coupled with detailed structural analysis, has advanced
our knowledge significantly as shear hosted mineralization has not previously
been recognized on the property. This model provides a viable and sizable exploration
target on the Poland China project."
The high-grade
gold ore shoots and down-dip extensions of the shear zone will be
the principle targets during the next phase of exploration at
Poland China. This model will be tested by step-out drilling around
DDH-10 in an attempt to follow the high-grade gold mineralization
down-dip within the shear zone. A gradient array survey recently
completed over part of the property is being interpreted to target
resistive highly silicified zones with high-grade gold.
A possible
geological analogue to Poland China is the large Macraes gold
deposit in New Zealand where gold occurs in a variably mineralized
shear zone with several stacked graphitic horizons extending
several kilometres. At Macraes, high-grade gold zones assaying up
to approximately 90 g/t occur locally. The Overall deposit is
reported to be over 3 million ounces with an average grade of 1.13
g/t.
Core samples were sent to Acme Analytical Laboratories Ltd. for analysis. Samples
were partially digested using an aqua regia solution. Sample splits
of 15 grams were analyzed for gold using ICP-MS.
The structural analysis and
interpretation including project data review was performed by Scott
Close, P.Geo of Ethos Geological. Scott Close, P.Geo, and Jim Ebisch, P.Geol are the
Qualified Persons as defined by National Instrument 43-101
reviewing the data in this release.
Adamera's strategy in
Washington State is to discover high-grade gold mineralization near
established infrastructure. Specifically, the company is targeting
areas near the Kinross Kettle River Mill. The Kinross mill is
reported to be operating at half capacity with ore shipped 70
kilometres from the 1.3 million ounce Buckhorn mine which has only
2 years mine life remaining. Average grade of the Buckhorn mine is
11.3 g/t gold and production costs are reported to be between $420
and $500 per ounce. The Poland China property is only 80 kilometres
by paved road to the Kinross Mill.
On
behalf of the Board of Directors,
Mark Kolebaba
President & CEO
For additional information please
contact:
Heather Kays
Manager, Corporate Communications
Tel: (604) 689-2010
Fax: (604) 484-7143
Email: info@Adamera.com
Website:
www.Adamera.com
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.
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