Adamera Minerals Begins Drilling at Lamefoot South Gold Property
Adamera Minerals Corp. (TSXV:ADZ), (OTC:DDNFF) announces drilling has started on the Lamefoot South Gold property in Washington State. A series of drill holes have been planned to follow-up a gold occurrence discovered in drill hole PL-6 in 2021. PL-6 intercepted 4.7 g/t gold over 2.7 metres including 0.76 metres at 10.7 g/t gold at a depth of 24 metres. Adamera is targetting multiple pods of mineralization along a limestone-clastic contact, analogous to the past producing Lamefoot Gold Mine 1 km to the north. The Lamefoot Mine contained nearly a million ounces of gold grading at 8 to 10 g/t. The mine reportedly developed 7 pods of ore.
The first target is within a visually recognizable envelope of lower grade semi-massive sulfides near the favourable limestone-clastic contact. Based on previous drilling, the zone is expected to form a pod plunging steeply to the northwest. The surface expression of the target is coincident soil geochemistry with coicident magnetic and self potential anomalies. Depending on the results of this program, other similar features will be tested.
Separately, on July 18, 2022, Hochschild Mining provided notice of termination of the Cooke Mountain Option Agreement. Hochschild's $1.8 million expenditure significantly advanced the project through geophysical surveys and drilling. Adamera now holds an unconditional 100% interest in the Cooke Mountain Project.
"We are grateful for the work completed by Hochschild. We will now advance the project independently, drilling targets that have been prioritized over the past two years. Lamefoot South is in a complex geological setting and as such warrants this strategic drilling to pin down specific geological controls. Drilling on our Buckhorn project is scheduled to begin in August," says Mark Kolebaba, President and CEO of Adamera Minerals Corp.
M. St. Pierre P.Geo, a Qualified Person as defined by National Instrument 43-101, assists in reviewing the data associated with the project.
About Adamera
Adamera Minerals Corp. is exploring for high-grade gold deposits near Republic Washington. This area has reportedly produced 8 million ounces of 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:
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Website: www.Adamera.com
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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.
