Adamera's Flag Hill Vein Targeted for Drilling
29 Janeiro 2014 - 12:15PM
Access Wire
Vancouver, BC, January 29, 2014
- Adamera
Minerals Corp. (TSX V: ADZ) - reports that data acquisition
and 2013 exploration results establish the 100% owned Flag Hill
Property as a prominent and significant epithermal gold target
within Washington States' most prolific gold mining region, the
Republic Graben. Adamera has upgraded the Flag Hill vein to a high
priority drill target.
It is well documented
that epithermal gold systems typically contain low-grade gold
values in the uppermost part of the system and that gold grades
tend to increase dramatically deeper in the system. Current work
and historic data clearly demonstrate this fact at the Flag Hill
property. The following summary demonstrates this
zonation:
-
1)Gold values at
surface along the Flag Hill vein generally range from 0.1 to 0.25
g/t gold. Surface sampling at the lowest elevation exposure along
the trend yielded a gold grade of 1.88 g/t gold.
-
2)At a depth of
approximately 60 metres below the surface apex of the vein, within
the Flag Hill mine workings, the average grade from historic
production reportedly increases to 7 g/t gold and 21 g/t
silver.
-
3)At a depth of
approximately 130 meters below the Flag Hill mine workings, a 1957
drill hole reportedly intercepted bonanza grades averaging 41 g/t
gold and 277 g/t silver over about 1 metre.
"The increase of grade with depth at Flag Hill
is almost a perfect blueprint for an epithermal deposit and the
property lies only 12 kilometres from the operating Kettle River
Mill. The strategic location of Flag Hill creates a significant
opportunity for Adamera," says Mark Kolebaba,
President and CEO of Adamera Minerals Corp.
Permit application for drilling on
the Flag Hill property has been submitted to The Bureau of Land
Management. Planning is underway to drill test the Flag Hill vein
at various levels and along strike. Detailed mapping and sampling
of the vein from old mine workings is also anticipated.
Between 1930 and 1940
the Flag Hill Mine adit was collared to gain accesses to the down
dip extension of the vein. Test mining of approximately 100 metres
of the Flag Hill Vein yielded an average recovered gold grade of
about 7 g/t and 21 g/t silver. At the time, the nearby Knob Hill
mine was in production with an average grade of around 47 g/t gold
and 140 g/t silver from a similar epithermal vein
deposit.
"A direct comparison of gold and silver grades
at Knob Hill at the time obviously made Flag Hill less attractive.
However, with today's elevated gold prices, Flag Hill becomes a
very attractive target," says Mark Kolebaba,
President and CEO of Adamera Minerals. "Further, the potential of finding gold grades
of over 40 g/t, similar to Knob Hill, clearly exist at Flag Hill as
indicated by the 1957 drill hole that reported intersecting 41 g/t
gold with 277 g/t silver over about 1 metre."
The reported
mineralized zones intercepted in the 1957 drill hole are listed
below.
Interval (ft) g/t gold g/t silver
667-6696.70N/A
676-6780.346.51
701-7031.7117.48
734-73741.14277.67
The
hole was drilled at a -45o,
true widths of interval are unknown.
Cross-sections using
current and historic data show that the 1957 intercepts are located
roughly where the projected down-dip extension of the Flag Hill
vein system would be expected. A second parallel hole was drilled
in 1972 immediately adjacent to the 1957 drill hole; however no
information is currently available for that hole.
In 2013, the Flag
Hill Vein was traced for 250 metres on surface and is presumed to
continue under cover to the north. Mapping also identified a
parallel vein 25 to 30 metres west of the Flag Hill Vein. In
addition, 6 other exposed veins or vein systems of various
orientations have been identified on other parts of the property.
Details of these veins will be released shortly.
The Republic Gold
District produced about 3 million ounces of gold at an average
grade of 20 g/t and 15 million ounces of silver at an average grade
of 110 g/t. Mining operations in the Republic District ceased in
1996.
Jim Ebisch, P.Geol is
the Qualified Person as defined by National Instrument 43-101
reviewing the data in this release. The historical information in
this release is from private reports and has not been verified by
the Company, however, it appears to have been completed under
standard best practices consistent with the time and appears to be
of reasonable quality.
Adamera
is exploring for high-grade gold near an operating
mill in Washington State owned by Kinross Gold Corp. The mill is
reported to be operating at half capacity with ore shipped 70
kilometres from the 1.3 million ounce Buckhorn Mine. The Buckhorn
Mine is a high-grade, low-cost producer with only 2 years mine life
remaining. Adamera is currently exploring 5 projects with
high-grade gold potential within hauling distance of the
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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