Adamera Plans to Drill Possible Extension of Overlook Gold Mine
TSX Venture Exchange: ADZ
News Release: 17-13
Adamera Plans to Drill Possible Extension of Overlook Gold Mine
Vancouver, British Columbia, May 24, 2017 - Adamera Minerals Corp. (TSX-V: ADZ, OTC:
DDNFF) reports on modelling of two new VTEM electromagnetic targets on the Cooke Mountain Project
in Washington State. The new targets include a possible extension to the past producing Overlook gold
mine, and an adjacent anomaly referred to as the Oversight target. Both targets are permitted for drilling.
Adamera has defined 10 VTEM targets and one soil geochemical anomaly that warrant exploration
drilling in the upcoming drill program. Data interpretation has now shifted to subtler VTEM and magnetic
features with supportive soil geochemistry.
Mark Kolebaba President and CEO of Adamera Minerals Corp. states “There is little exploration drilling
around the periphery Overlook gold mine. The VTEM and soil data have defined clear targets adjacent to
the mine, targets that could represent extensions to the known mineralization.”
Overlook Mine Extension Target is a modelled 900m x 140m conductor at a depth of about 200 metres
that is spatially associated with the past producing Overlook Gold Mine. The deposit was mined from
1991 to 1996 by Echo Bay Mines and was reported to contain 425,000 ounces of gold at a grade of about
5.5 g/t.
The VTEM conductor is significantly larger than the Overlook deposit, which appears to extend for about
300 metres. The deposit is located on the western end of the conductor with the eastern part remaining
untested (See the “Overlook Extension Target” in Figure 1). As this target also has magnetic and
geochemical support it is a high priority.
Oversight Target is a shallower conductor identified by the VTEM survey and is well supported by soil
geochemistry. It is modelled as a 200m x 50m flat lying body at a depth of 55 to 70 metres that is located
directly above the eastern end of the Overlook Mine Extension anomaly described above.
In 2014, Adamera drilled 9 shallow holes to test an adjacent magnetic anomaly. Drill hole DDH- 8,
intersected about 20 metres of highly altered rock with gold values ranging from 0.2 g/t to 1 g/t near the
Oversight VTEM target. (See Figure 2).
A third target, referred to as the Overeasy Target is an isolated copper-arsenic-gold soil anomaly along a
preferred structure within an area of low conductivity. Adamera interprets this data as possible
mineralization associated with flat lying sheeted silica veins, as observed in the upper levels of the
Overlook mine, 600 metres to the north. Based on topography and the known depths of the sheeted veins
at Overlook, the target is estimated at 70 metres depth.
A modelled plan view and interpreted cross-section of the Overlook and Oversight VTEM anomalies is
shown below.
Martin St. Pierre P.Geoph, a Qualified Person as defined by National Instrument 43-101 is interpreting the
geophysical data from Geotech Ltd. Christine Johnson P.Geol, a Qualified Person as defined by National
Instrument 43-101 is interpreting geological and geochemical data on the project.
About Adamera
Adamera Minerals Corp. is exploring for high-grade gold deposits within hauling distance of the operating
Kettle River Mill in Northeastern Washington State. While management feels the existing third-party mill
and superior logistics allow a smaller resource to be potentially economic, Adamera’s primary goal is the
discovery of a large stand-alone high grade gold resource. Adamera is the dominant regional exploration
company in the area.
On behalf of the Board of Directors,
Mark Kolebaba
President & CEO
For additional information please contact:
Tel: (604) 689-2010
Fax: (604) 484-7143
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.
Figure 1. Plan View of EM targets and
modelled plates and the location of the
Overlook Mine. Note DDH-8 location
Figure 2. Interpretive cross section
showing relative locations of EM
anomalies, Overlook deposit and DDH-8