Vancouver, British Columbia, October 5, 2016 - Adamera Minerals Corp. (TSX-V: ADZ)
announces that it has been granted eight Washington State mineral leases totaling 2080 acres near the Oversight and Lambert Creek properties in Washington State.
As a major expansion of the Oversight and Lambert Creek properties, this land has been acquired along two gold mineralized trends recently recognized by Adamera that are 4 kilometers apart. The two trends have so far produced more than a million ounces of high-grade gold. These trends represent an important regional exploration target for Adamera Minerals and will be referred to as the Cooke Mountain Mining District going forward.
'This is a significant new land position driven by our geological model. The acquisition of this land has been underway for more than a year' says Mark Kolebaba, President and CEO of Adamera Minerals Corp. 'Cooke Mountain is a significant gold camp and not only will we be conducting the first exploration program here in 25 years it will also be the first time it will be explored with modern methods and ideas. The state mineral leases are in addition to, and compliment, BLM claims that were also recently staked by Adamera to cover other prospective land.'
The two trends within the Cooke Mountain Mining District include a western trend that hosts the high-grade Lamefoot gold mine and an eastern trend that hosts the Overlook, Key East, Key West and Belcher mines. The State leased land was acquired within both trends. Portions of the land are contiguous with the Lamefoot gold mine property, the recently staked HLK claims and Lambert Creek property. The Kettle River Mill is located between the two trends and is within 1 to 10 kilometres of all Adamera controlled properties within the Cooke Mountain Mining District.
The immediate exploration plans for these new properties includes detailed geophysical surveying, geological mapping and soil sampling to develop targets for possible drill testing later in the season. Adamera will shortly release details of the new geological model being applied and its exploration implications. Crews are currently on the ground completing mapping and geochemical sampling through the new areas.
Adamera Minerals Corp. is exploring for high-grade gold deposits within hauling distance of the operating Kettle River Mill in Northeastern Washington State. The company's strategy is to fast-track the discovery to production process by exploring close to a mill in need of ore. Adamera is exploring several projects with a goal to become the dominant mining/exploration company in the area through discovery.
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.