Adamera Stakes Lands Around Buckhorn Gold Mine in Washington State
Vancouver, B.C. - TheNewswire - July 22, 2020 - Adamera Minerals Corp. (TSXV:ADZ) (OTC:DDNFF) announces it has staked 339 claims around the Buckhorn Mine in Washington State. This land (“Buckhorn 2.0”) surrounds the Crown/Kinross patented claims on which the past producing Buckhorn Mine is situated. The area acquired extends more then 10 kilometres to the Canadian-USA border, along the western margin of the Torada Graben. The Company has also leased an additional 38 claims from private claim holders within the project area for a total of about 7,500 acres (30 square km). (see map)
The Buckhorn Mine (formerly named Crown Jewel) was discovered by Crown Resources Corp in 1988. Approximately 1.3 million ounces of gold at an average grade of about 12 g/t gold was produced from Buckhorn between 2008 and 2017. Crown Resources Corp. and Kinross Gold Corp. merged in 2003.
The Buckhorn 2.0 project is 100% owned by Adamera. Importantly, Adamera recently enhanced its management team to include very relevant experience on the area. Mark Jones, who was recently appointed to the Adamera board, was the CEO of Crown Resources at the time Crown discovered the Buckhorn deposit. Peter Cooper, who has been appointed as an advisor to Adamera, was involved in exploration on and around the Buckhorn Mine for more than 20 years under the employ of Battle Mountain Gold Company, Crown Resources and Kinross. The involvement of Mark Jones and Peter Cooper will greatly help Adamera rapidly advance the project.
“This land package is large and very strategically located. Early this year Adamera teamed up with Hochschild Mining to advance the Cooke Mountain gold project. This move incentivised us to stake the Buckhorn 2.0 area, a project now 100% controlled by Adamera. The area is remarkably under explored with little drilling outside of the immediate mine area. Opportunities like this are rare,” says Mark Kolebaba President and CEO of Adamera Minerals.
Mr. Jones, Adamera director and former CEO of Crown Resources states “The Crown Jewel (Buckhorn deposit) was a significant high-grade gold discovery for Crown Resources. Except for the minesite itself the claim block is essentially the same land package that Crown and Battle Mountain held originally. Due to the under explored nature of the area I consider it equally prospective to when Buckhorn was initially discovered.”
Mr. Peter Cooper, Adamera advisor states “I am excited by the opportunity to explore this area. Previous explorers conducted extensive programs and developed numerous high-priority drill targets. Fortunately for Adamera, many of these targets were never drilled due to their focus on mine development and production.”
Details of a work program for these claims are developing. The Company is currently working on ranking areas on the new claims. Adamera geologists are currently on-site prospecting and sampling for Crown Jewel style meralization to assist in the program design. Details of this work will be reported as results become available. To keep up to date on Buckhorn 2.0 and other news please subscribe to our mailing list here.
The claims staked and recorded by Adamera and are subject to final status determination by the BLM. The claims are subject to a 1% royalty, of which 0.5% may be purchased for $500,000 at anytime.
The Buckhorn 2.0 project is located approximately 80 km from the Company’s Cooke Mountain project that is currently funded for exploration under an earn-in agreement with Hochschild Mining LLC (LON:HOC).
Martin St. Pierre P.Geoph, is a Qualified Person as defined by National Instrument 43-101 and will assist in reviewing data associated with the project.
Adamera Minerals Corp. is exploring for multiple high-grade gold deposits in northeast Washington State. This area has reported produced of +7 million ounces of gold. Adamera is the dominant regional explorer in the area.
On behalf of the Board of Directors,
President & CEO
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.