Adamera Minerals Expands Footprint Around Buckhorn Mine in Washington State
Vancouver, B.C. -- July 22, 2020 -- NewsGenie -- Adamera Minerals Corp. has significantly expanded its land holdings around the past-producing Buckhorn Mine in Washington State, staking 339 claims to form the "Buckhorn 2.0" project. This strategic acquisition surrounds the Crown/Kinross patented claims where the Buckhorn Mine is located and stretches over 10 kilometers to the Canadian-USA border, along the Torada Graben's western edge. Additionally, the company has leased 38 claims from private holders, bringing the total project area to approximately 7,500 acres (30 square km).
The Buckhorn Mine, previously known as Crown Jewel, was discovered in 1988. It produced roughly 1.3 million ounces of gold at an average grade of 12 g/t between 2008 and 2017. Crown Resources Corp. and Kinross Gold Corp. merged in 2003.
Adamera's Buckhorn 2.0 project is 100% owned. The company has strengthened its team with relevant expertise in the area. Mark Jones, a recent addition to Adamera's board, was CEO of Crown Resources during the Buckhorn deposit discovery. Peter Cooper, now an advisor, has over 20 years of exploration experience around the mine with Battle Mountain Gold, Crown Resources, and Kinross. Their involvement is expected to accelerate the project's advancement.
CEO Mark Kolebaba stated, "This land package is large and strategically located. Following our partnership with Hochschild Mining on the Cooke Mountain gold project, we were incentivized to stake the Buckhorn 2.0 area, which is now fully controlled by Adamera. The area is remarkably underexplored, with limited drilling outside the mine area, presenting a rare opportunity."
Mr. Jones added, "The Crown Jewel (Buckhorn deposit) was a significant high-grade gold discovery for Crown Resources... I consider it equally prospective to when Buckhorn was initially discovered."
Mr. Cooper noted, "I am excited by the opportunity to explore this area... Fortunately for Adamera, many of these targets were never drilled due to their focus on mine development and production."
Adamera is currently developing a work program, ranking areas on the new claims, and conducting on-site prospecting and sampling to identify Crown Jewel-style mineralization.
The claims are subject to a 1% royalty, with an option to purchase 0.5% for $500,000.
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 focused on exploring for high-grade gold deposits in northeast Washington State, a region with a history of over 7 million ounces of gold production.