Vancouver, March 30, 2021 - Adamera Minerals Corp.
(TSXV:ADZ); (OTC:DDNFF) ("Adamera" or the "Company") announces the start of 2021exploration at its' Buckhorn 2.0 and Cooke Mountain gold projects in Washington State, USA. The next announcement from the Company is expected to be the commencement of drilling at Cooke Mountain.
Exploration at Cooke Mountain is being funded by Hochschild Mining Ltd (HOC: LON) under a joint venture ("JV") agreement (see press release January 22, 2020). The 2021 exploration budget is anticipated to be $1.0 million and will include a Phase 1 drilling program of about 3,000 metres to test a minimum of 4 targets.
Exploration at Buckhorn 2.0 will ramp up as snow melts. Geophysics, sampling and mapping on the Keystone prospect, immediately south of the Buckhorn gold mine landholding (Kinross Gold) is the first target. Exploration will be extended to other parts of the property that Adamera considers the most prospective later in the spring. Permits are in process and an initial drill program is anticipated later in the year.
"Despite the challenges and multiple restrictions associated with COVID-19, Adamera is proud to have achieved so much over the past year. Among other things, we completed a $1,600,000 financing at twice the price of our previous financing and strengthened our Board and Management teams. Additionally, the partnership with Hochschild and the acquisition of the Buckhorn 2.0 lands are clearly exciting developments in 2020. I am looking forward to a discovery in 2021," says Mark Kolebaba, President and CEO of Adamera.
The Washington exploration team will begin with 5 Adamera personnel and will increase as our program ramps up. Protocols for COVID-19 will continue to be a priority for the Company.
Martin St. Pierre P.Geoph, a Qualified Person as defined by National Instrument 43-101, has reviewed data associated with the project and provided quality control for the IP survey completed in 2020.
Adamera Minerals Corp. is exploring for a high-grade gold deposit near Republic, Washington. This area has reportedly produced 8 million ounces of gold. Adamera is the dominant regional explorer in the area.
On behalf of the Board of Directors,
President & CEO
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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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