Source: Adamera Minerals Corp.
  • Adamera Minerals Corp. (ADZ) has identified a new gold zone on the VTEM-1 target at the Buckhorn 2.0 Gold Project
  • Drill hole BM22-02 intersected shallow gold zones on each side of a massive magnetite skarn
  • Trace element geochemistry is pending for drill hole BM22-02
  • The Adamera projects are located in a gold district which has reportedly produced over 17 million ounces of high-grade gold
  • Adamera Minerals Corp. is exploring a high-grade gold deposit near Republic, Washington
  • Adamera Minerals Corp. (ADZ) opened trading at C$0.055

Adamera Minerals Corp. (ADZ) 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.

ZoneFrom (m)To (m)Interval (m)Gold (g/t)
Upper12.8141.23.8
Magnetite1422.88.80.2
Lower22.824.41.64.0

Mark Kolebaba, President and CEO of Adamera Minerals, commented on the news.

“I certainly don’t underestimate the significance of this new mineralization. BM22-02 intersected gold zones very close to surface, leaving a significant strike length for follow-up drilling. VTEM1 will be ranked with other targets as we design our follow-up program.” 

In the upper zone, gold is associated with brecciated skarn containing silica, sulphide 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 magnetic anomaly is traceable for several hundred metres and is well-defined for follow-up drilling.

Geophysical modelling of data associated with VTEM-1 generated a conductive steeply-dipping tabular zone suggestive of sulphides within a magnetite skarn. The Buckhorn gold mine, located 700m from VTEM-1, is a gold-rich skarn with magnetite and sulphides that has a comparable geophysical signature.

The mined-out Kinross Buckhorn mine produced 1.3 million ounces of gold at a grade of 13 g/t. The nearby Kettle River gold mill is currently under 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. Drilling at Lamefoot South is currently underway.

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 sulphides. This image shows the Adamera and several historic gold intercepts within the highly magnetic target. This target area has been subjected to very little drilling and remains mostly untested.

Adamera Minerals Corp. is exploring 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 Minerals Corp. (ADZ) opened trading at C$0.055.


More From The Market Online

Cloud DX among leading remote patient monitoring suppliers in Canada

Cloud DX (TSXV:CDX) gives an update on its remote patient monitoring deal with the British Columbia Provincial Health Services Authority.

Introducing the newest player in global drone technology

Drone Delivery Canada (TSXV:FLT) and Volatus Aerospace (TSXV:VOL) will merge into a global drone technology and services company.

Aston Bay unearths thick new copper zones in Nunavut

Aston Bay Holdings Ltd. (TSXV:BAY) provides an update on results from drilling activities at its Storm Copper Project.