New High-Grade Gold Zone Identified Near Overlook Gold Mine
TSX Venture Exchange: ADZ
News Release: 17-24
New High-Grade Gold Zone Identified Near Overlook Gold Mine
Vancouver, British Columbia, Novemebr 28, 2017 - Adamera Minerals Corp. (TSX-V: ADZ)
announces the discovery of high-grade gold in outcrop near the Overlook Gold Mine in Washigton State.
Rock samples collected from the area assayed 64 g\t, 37 g\t, 30 g\t, 7.8 g/t and 2.1 g/t gold. This new
prospect, called Outlook Ridge, is located on the Cooke Mountain project halfway between the historic
Overlook and Key West gold mines.
Outlook Ridge and the high-grade samples are located on northeast trending linear features that pass
through both the Overlook and Key West deposits. The linears are interpreted to be important
mineralizing structures with +1000 metres of strike length potentially mineralized (see Figure 1 below).
To provide some context to this high-grade discovery, similar shallow clastic rocks above the Overlook
and Key West mines are known to host significant gold mineralization. Such mineralization reportedly
accounted for about half of the gold mined at Overlook. Both mines extend on to Adamera’s property.
The high-grade gold samples are silicified and brecciated clastic sediments with quartz-sulfide veining.
The samples were collected from 3 historic prospect pits within a 150 metres trend. The clastic sediments
exposed in the pits are immediately below a felsic sill, a flat lying younger intrusive body that is extensive
across the property. Any underlying mineralization would be concealed at surface.
“It has become clear through this years work that gold mineralization is more widespread in the
Overlook-Key West area. Our drilling has identified high-grade massive sulfide hosted gold at depth and,
separately, shallow clastic hosted high grade gold. Now, through detailed prospecting we have identified
near-surface mineralization immediately below younger intrusive rocks. This adds another new element
of prospectivity to the property and provides support for more continuous mineralization in a large and
untested area between the Overlook and Key West Mines,” Says Mark Kolebaba President and CEO of
Adamera.
As the sill is extensive in the area, focused mapping and denser soil sampling recently completed over the
immediate area of Outlook Ridge will be used to target beneath it. This will be supplemented by more
detailed ground magnetic surveying. Prior to drilling, the Company is also planning an induced
polorization (IP) survey, which to the Company’s knowledge, has not been conducted over the property in
the past. There appears to be a strong correlation between high gold grades and silica flooding in the
clastics, which should manifest in an IP survey.
Historic drill holes from a portion of the Overlook Mine that extended on to Adamera’s property
intersected several zones of impressively mineralized clastic sediments, including a zone with 5.1 g/t gold
over 45.7 metres (see news release dated January 14, 2015). Also Adamera’s recent grab sample of quartz
veins in similar clastic rocks in the Key West open pit mine, above the massive sulfide zone, assayed up
to 43.8 g/t gold.
Adamera recently released drill intersections with 9.6g/t gold over 11 metres and 9.9g/t over 2 metres
near the Overlook Mine (see news release dated October 24th, 2017). The Company has also developed
several high priority drill targets near the Key West Mine that are awaiting permits from the US Forest
service. These permits are expected shortly.
several high priority drill targets near the Key West Mine that are awaiting permits from the US Forest
service. These permits are expected shortly.
Martin St. Pierre P.Geoph, a Qualified Person as defined by National Instrument 43-101 has reviewed the
data in this release. Gold analysis is completed by Activation Laboritories using fire assay methods. The
historical drill data is from private reports and has not been verified by Mr. St. Pierre or the Company,
however, it appears to have been completed under standard best practices consistent with the time and
appears to be of reasonable quality. Drilling was completed by Echo Bay Mines in the late 1980s to early
1990's.
About Adamera
Adamera Minerals Corp. is exploring for high-grade gold within hauling distance of the operating Kettle
River Mill in Northeastern Washington State. While 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 deposit. 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.