Vancouver, Jan. 11, 2024 -
Adamera Minerals Corp. (TSXV:ADZ) (OTC:DDNFF) announces it has received assay results from two drill holes that tested the VTEM-30 target on the Buckhorn 2.0 Gold Property in Washington State. No significant gold values were reported.
While these results are disappointing, the fact that we drilled such impressive sulfide intercepts on a "blind target" means our methodology is effective. The VTEM-30 target is large, measuring approximately 1050m x 650m. The nearby Buckhorn gold deposit is contained within a significantly larger geophysical anomaly, similar in size to the VTEM 30. This implies that drilling from a single site on VTEM-30 may not have fully tested the gold potential of the anomaly.
"We have many impressive geophysical targets in close proximity to the Buckhorn mine that have yet to be tested. To this extent, I am frustrated that market conditions are such that we only got to drill one feature in 2023. Our geophysical targeting has proven effective in identifying sulfide bodies so we must persist towards a discovery. The proximity to a high-grade ore body certainly strengthens our commitment to test these targets. " says Mark Kolebaba, President and CEO of Adamera.
Adamera has essentially tested 4 separate targets on the Buckhorn 2.0 property and will continue to evaluate more than 30 untested targets for exploration drilling. The company is considering the application of new geochemical techniques to assist in target prioritization.
The Buckhorn Gold Mine is located 1.5 kilometers from the VTEM-30 target and is within a similar geological setting. The Buckhorn mine produced 1.3 million ounces of gold at a grade of about 13g/t.
Martin St. Pierre (P. Geo.), has reviewed data associated with the project.
About Adamera
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,
Mark Kolebaba
President & CEO
For additional information please contact:
Email: info@Adamera.com
Website: www.Adamera.com
Phone: (604) 689-2010
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.
