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From: heinz44	6/18/2014 10:05:06 PM
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ADZ hra report coffin Adamera Minerals is a company that fashioned itself for the times. The company moved from working on extremely expensive projects in Canada’s far north to much more reasonable targets in infrastructure rich NE Washington state. In the process it went from targeting diamond and uranium to gold. Management has worked hard to make the exploration process as prudent and fiscally efficient as is possible with an early stage explorer. Five projects have been acquired in and around the Republic Graben area and all of the projects received work programs last year to set up drill targets for the upcoming season. ADZ plans to be back out in the field as soon as the snow melts next month. There is still a bit of targeting work to do but, basically, there are five drill targets in the project set and Adamera plans to hit them all. One of the cost saving measures being employed by ADZ is the use of a Winkie drill. These are portable and very cheap but do have the drawback of much smaller core and therefor sample size. Adamera is targeting high grade epithermal gold in most cases. The Republic Graben is home to several high grade gold deposits including Kinross Gold’s Buckhorn operation that mines material grading over 10 g/t in a highly profitable underground operation. Buckhorn is operating at half capacity and has a couple of years of ore left. Adamera views Kinross as the obvious buyer of a discovery and it probably is. Obviously what we really want is a discovery large enough to be developed independently but a small discovery, say a few hundred thousand ounces, would be of interest to Kinross. REPUBLIC/TORODA GRABEN AREA NE WASHINGTON STATE: Adamera’s project set is concentrated in NE Washington, predominantly within or adjacent to the Republic and neighboring Toroda grabens. Grabens are recessed or down dropped blocks of rock bordered by steep normal faults (“graben” is a German word for “ditch”). They are formed in extensional terrains where stretching of the crust opens parallel faults which allows the block composing the graben to slide down, or the bordering masses of rock to rise. The faulting opens up pathways for later fluid flows that can deposit gold/silver mineralization as the faults heal. Eocene aged (34-56 million year old) grabens are a common host terrain for epithermal gold silver deposits and Republic is no exception. The Republic area including the graben and skarns related to nearby intrusions has accounted for over 10 million ounces of gold production on both sides of the Canada/US border. The flagship for the region is Kinross’s Republic division which is mining the Buckhorn and developing the K2 deposits, shipping ore to its Kettle River mill

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