Adamera Minerals confirms gold in soil at Big Banana
2017-04-27 07:24 PT - News Release
Mr. Mark Kolebaba reports
ADAMERA MINERALS RECEIVES GOLD RESULTS ON BIG BANANA TARGET
Adamera Minerals Corp. has confirmed the presence of gold in soil above parts of the two-kilometre-long Big Banana target, which is located in the Cooke Mountain project, two kilometres south of the Lamefoot gold mine in Washington State.
The Big Banana target is defined by versatile time-domain electromagnetic (VTEM) data, geology, structure, soil analysis using X-ray fluorescence, soil pH and now gold in soil determined by fire assay (see background section below). Anomalous gold values ranging from 20 to 469 parts per billion occur sporadically over Big Banana. Sampling was conducted on a 50-by-50-metre grid.
"While we don't yet know what the Big Banana conductor represents, anomalous gold values in soils above it further validate it as a top-rank target for our coming drill program. The site was permitted for drilling last week and is currently being surveyed for drill access," says Mark Kolebaba, president and chief executive officer of Adamera Minerals.
Many of the higher gold values occur in proximity to the projection of the Anfo fault system and near the projected top of the source of the VTEM anomaly. The anomaly is modelled to be overlain by 15 to 30 metres of rock and thus is a blind or buried target. It is the company's view that the irregular distribution of gold in soil above the Big Banana is the expected result for a blind target.
The 2016, Adamera Minerals exploration program was designed to identify blind deposits which typically exhibit relatively weak geochemistry. Soil sampling on a detailed grid was employed to identify pathfinder element leakage along crosscutting structures. This appears to have been effective on the Big Banana, particularly on the northern lobe where gold and other elements have been detected in soil near structures cutting an otherwise impervious Scatter Creek intrusive sill. As expected, gold in soil is more pronounced on the southern lobe where limestone is exposed.
As reported in an earlier news release, recent geological mapping over the Big Banana target identified brecciated dolomite and altered, iron-stained limestone over the southern portion of the conductor and Scatter Creek intrusive rocks over the northern conductor. Scatter Creek intrusives typically occur as sills above gold-mineralized limestone at the former Key West and Overlook mines in the area.
Around 5,000 soil samples have been submitted to an independent certified laboratory for fire assay. To date, results for approximately 20 per cent have been received. Results for the balance of the analyses will be reported once they are received, compiled and interpreted.
Background information -- Big Banana target
Highlights of the Big Banana from the April 5, 2017, new release have been included below for background information:
- Big Banana includes two strong conductors (CM-W-1A and CM-W-1B) that together form a larger two-kilometre-long curvilinear target. Modelling of these conductors suggests a 10- to 15-metre-wide target starting at a depth of about 15 metres and extending more than 400 metres westerly downdip at an estimated 55 degrees.
- The CM-W-1A and CM-W-1B anomalies straddle the mapped projection of the Anfo fault. This structure is considered a primary ore control at the past-producing Lamefoot gold mine (607,225 ounces grading 7.3 grams per tonne gold,) located two kilometres to the north.
Martin St. Pierre, PGeoph, a qualified person as defined by National Instrument 43-101, is interpreting the geophysical data from Geotech Ltd. Christine Johnson, PGeol, a qualified person as defined by National Instrument 43-101, is interpreting geological and geochemical data on the project.
About Adamera Minerals Corp.
Adamera Minerals is exploring for high-grade gold deposits 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.
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