Adamera Intersects Gold on the Buckhorn 2.0 Gold Property
TSX V: ADZ; OTC: DDNFF
News Release: 23-01
Adamera Intersects Gold on the Buckhorn 2.0 Gold Property
Vancouver, B.C., January 24, 2023 - Adamera Minerals Corp. (TSX V: ADZ; OTC:
DDNFF) Adamera Minerals Corp drilling has identified a new gold zone on the VTEM-1 target
at the Buckhorn 2.0 Gold Project in Washington State.
Drill hole BM22-02, an angled hole drilled from west to east, intersected shallow gold zones on
each side of a massive magnetite skarn. The upper western zone returned 3.8 g/t gold over 1.2m
from 12.8m to 14m downhole. The lower eastern zone yielded 4.0 g/t gold over 1.6m from
22.8m to 24.4m depth. The magnetite unit itself has elevated gold values.
”VTEM-1 is a straightforward target for follow up drilling. BM22-02 intersected the gold zones
very close to surface leaving us a significant strike length for follow up. This target will be
ranked with other targets as we design our follow up program,” says Mark Kolebaba, President
and CEO of Adamera Minerals.
In the upper zone gold is associated with brecciated skarn containing silica, sulfide and
magnetite infill. Both zones appear to have undergone late-stage gold enrichment. Significantly,
the BM22-02 intersections fall within a well defined magnetic target associated with VTEM-1 .
The magnetie anomaly is traceable for several hundred metres and is a straightforward target for
follow up drilling.
Geophysical modelling of data associated with VTEM-1 generated a conductive steeply-dipping
tabular zone suggestive of sulfides within a magnetite skarn. The Buckhorn gold mine, located
700m from VTEM-1, is a gold-rich skarn with magnetite and sulfides. It likely would have had a
comparable geophysical signature.
Buckhorn is still held by Kinross Gold although the deposit is mined out. It produced 1.3 million
ounces of gold at a grade of 13 g/t. The nearby Kettle River gold mill is currently on care and
maintenance.
Trace element geochemistry is pending for drill hole BM22-02. The Company has received
results for other targets and is currently reviewing the data.
Zone From (m) To (m) Interval (m) Gold (g/t)
Upper 12.8 14 1.2 3.8
Magnetite 14 22.8 8.8 0.2
Lower 22.8 24.4 1.6 4.0
Figure 1. The coloured insert shows a large area of strong magnetics in purple. Inversion of the
magnetic data has defined a “U” shaped volume of highly magnetic rock most probably caused
by the mineral magnetite. At the Buckhorn Mine, gold mineralization is associated with
magnetite and sulfides. This image shows several gold intercepts within the highly magnetic
target. This target area has been subjected to very little drilling and remains mostly untested.
Gordon Gibson P.Geo, a Qualified Person as defined by National Instrument 43-101, has
reviewed data associated with the project.
About Adamera
Adamera Minerals Corp. is exploring for a high-grade gold deposit near Republic Washington.
The Adamera projects are located in a prolific gold district which has reportedly produced over
17 million ounces of high-grade 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: [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.