Washington State has seen substantial historical gold mining dating back to the 1890s, but that doesn’t mean there still isn’t gold to be mined. Mark Kolebaba, CEO of Adamera Minerals, extols the advantages of exploring in Washington and explains why it offers low-cost opportunities.
The Gold Report: Thank you for joining us, Mark. Can you give us a little introduction to Adamera Minerals Corp. (ADZ:TSX.V)?
Mark Kolebaba: Sure. Adamera Minerals is 100% focused on exploring for gold in Washington State. This is an area known for high-grade gold deposits that has been relatively underexplored for 25 years. We have been here for three and half years and have developed a compelling land position. Washington State is a safe and easy jurisdiction to work in. Given our focus solely in Washington State, we have developed an unparalleled understanding of the region from staking, permitting and geology. We are excited to be in Washington.
TGR: Washington was a hub for mining 20-plus years ago. Can you tell us a bit about the history of the area?
MK: This particular area has a long history of mining dating back to the 1890s. The area we are exploring has produced more than 6 million ounces (6 Moz) of high-grade gold from multiple districts. The Republic district operated by Hecla Mining Co. (HL:NYSE), for example, produced 2.8 Moz gold at an average grade of 20 grams per tonne (20 g/t) and 15 Moz silver averaging 110 g/t.
Currently the only operating gold mine in Washington State is the Buckhorn mine, which is owned by Kinross Gold Corp. (K:TSX; KGC:NYSE). Buckhorn is a 1.3 Moz deposit averaging about 12 g/t, making it the third highest-grade operating gold deposit in the U.S. Washington is the fifth largest gold-producing state in the U.S.
TGR: The Buckhorn mine presents …read more