Adamera and Hochschild Drilling Hits Shallow High-Grade Gold Zone on the Lamefoot South Property
TSX V: ADZ; OTC: DDNFF
News Release: 21-16
Adamera and Hochschild Drilling Hits Shallow High-Grade Gold Zone on the Lamefoot
South Property
Vancouver, B.C., November 9, 2021 - Adamera Minerals Corp. (TSX V: ADZ; OTC: DDNFF)
announces the discovery of high-grade gold on the Lamefoot South property in Washington
State. This past season as part of a larger drill program, one hole was drilled on this property,
DDH PL-6 (“PL-6”). It intersected a shallow zone yielding 4.7 g/t gold over 2.7 metres,
including 0.76 metres at 10.7 g/t gold (see table below).
The Lamefoot South gold property forms part of Adamera’s Cooke Mountain venture with
Hochschild Mining Corp (LON: HOC). The property is located approximately 1,300 metres
south of the Lamefoot Mine reported to contain nearly one million ounces of gold at a grade of 8
to 10 g/t.
The high-grade gold interval in PL-6 occurs in limestone from 24.08 to 26.78 metres depth and
coincides with a limestone-clastic contact. That position is interpreted to be the same contact as
the Lamefoot Mine to the north. A second zone from 17.23 to 19.8 metres reports elevated gold,
including a section from 17.8 to 18.5 metres that assayed 1.6 g/t gold (see table below).
Hole From (m) To (m) Interval Au (g/t)
PL-6 17.23 19.83 2.6 0.63
incl. 17.84 18.45 0.61 1.6
PL-6 24.08 26.78 2.7 4.7
incl. 24.08 24.84 0.76 10.7
PL-6 was drilled to test a strong induced polarization (IP) anomaly coincident with soil
geochemistry. It is apparent that the gold intersection is coincident with a more subtle IP
anomaly situated immediately west of the stronger IP anomaly targeted by the drill hole. This
more subtle anomaly extends south along a limestone-clastic contact for approximately 700
metres. It is in part coincident with VLF-EM, soil geochemistry and ground magnetic anomalies
(see attached map). At the Lamefoot Gold Mine the limestone-clastic contact is considered an
important mineralizing control.
“This intercept is very meaningful given that it coincides with what is considered a key ore
control at the nearby Lamefoot Mine. A single hole drilled into a target several hundred metres
long requires significant follow up. This gold intercept confirms our targeting methodology and
validates other untested targets on the property,” says Mark Kolebaba, President and CEO of
Adamera.
An elevated magnetic response is closely associated with the high-grade gold mineralization
intersected in PL-6. This discrete magnetic anomaly extends to the north and south supporting
additional drill targeting along strike. In addition, other similar magnetic features exist elsewhere
along the contact in areas not yet tested. The inversion of the magnetic data suggests potential for
a significant down dip extent.
Maps show IP anomalies in relation to drill hole PL-6. The 700+ metre long target follows the limestone-clastic
contact. PL-6 essentially collared in the IP anomaly and intersected gold values at 15m depth. The figure on the
right shows the IP data with gold in soil values ( ppb). Note coincidence between elevated and anomalous gold in
soil values with the IP anomaly along the limestone-clastic contact.
Plans for follow up drilling at PL-6 will be discussed with partner Hochschild Mining. Results
from approximately 700 samples are pending.
Select core photos from 24-27 metres from DDH PL-6 showing high-grade gold zone with 10.7 g/t Au associated
with sulfides in fractured limestone near the limestone-clastic contact.
The earn-in agreement between Adamera and Hochschild was announced on January 22, 2020.
Under the terms of the agreement, Hochschild can earn a 60% interest in the projects by
spending US$8 million (approximately CAN$10.5 million) on the project over 5 years.
Hochschild can opt to earn an additional 15% of the project by sole funding a feasibility study
over an additional 3 years subject to various conditions outlined in the January 22 release.
Martin St. Pierre P. Geoph., a Qualified Person as defined by National Instrument 43-101, has
reviewed the techinical information contained in this news release.
About Adamera
Adamera Minerals Corp. is exploring for high-grade gold deposits near Republic Washington.
This area has reportedly produced 8 million ounces of gold. Adamera’s Buckhorn 2.0 Gold
Property surrounds the Kinross’ Buckhorn Gold Mine that was closed in 2017. The mine
produced approximately 1.3 million ounces of gold at an average grade of about 12 g/t. 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: [email protected]
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.