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,
President & CEO
For additional information please contact:
Manager, Corporate Communications
Tel: (604) 689-2010
Fax: (604) 484-7143
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.
Leave a comment...