{"id":1161614,"date":"2020-01-23T18:19:25","date_gmt":"2020-01-24T00:19:25","guid":{"rendered":"https:\/\/www.mining.com\/?p=1011933"},"modified":"2020-01-23T18:19:25","modified_gmt":"2020-01-24T00:19:25","slug":"adamera-partners-with-hochschild-mining-at-cooke-mountain","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1161614","title":{"rendered":"Adamera partners with Hochschild Mining at Cooke Mountain"},"content":{"rendered":"<p>Junior Adamera Minerals has found a partner in Hochschild Mining to help advance its Cooke Mountain gold project in Washington state.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The two have signed an option agreement under which Hochschild can earn a 60% stake in the project by spending $8 million on exploration over five years. Adamera will be project operator during this earn-in phase.<\/p>\n<p>Hochschild can then earn another 15% interest by funding a feasibility within three years (the company can also extend the feasibility period for another three years with further payments to Adamera of between $200,000 and $500,000 per year).<\/p>\n<p>After this phase is completed, a 75\/25 joint venture will be formed (or 60\/40 if the phase 2 option isn\u2019t exercised) with each company funding its pro rata share of project funding, and Hochschild becoming the operator of the JV.<\/p>\n<p>\u201cWe are looking forward to working with Hochschild on the Cooke Mountain gold project; they bring very relevant expertise in high-grade gold deposits as well as the funding required to aggressively advance this project from the discovery stage through to production.\u201d said Adamera president and CEO Mark Kolebaba, in a release. \u201cWe look forward to the excitement and rewards that accompany well funded exploration.\u201d<\/p>\n<p>Kolebaba added: \u201cDue to limited funding over the past several years, Adamera has not been able to effectively test the many high-quality targets developed through its exploration programs. Also, new zones with mineralization discovered by Adamera simply have not been drilled enough to realize their potential. This partnership provides a means to fully test these targets.\u201d<\/p>\n<p>The project lies in a high-grade gold mining district that has seen more than 7 million oz. mined at a grade of 14.5 g\/t gold, but hasn\u2019t seen much modern exploration. A 2,000 t\/d nearby mill is on care and maintance.<\/p>\n<p>Adamera has defined two multi-kilometre, gold-producing trends at Cooke Mountain: the Overlook trend on the east side of the project, which contains several historic high-grade gold mines, and the Lamefoot trend, 6 km to the west, which hosts the Lamefoot mine. The company has more than 50 permits to targets on both trends. Discussions with Hochschild on the 2020 exploration program are underway.<\/p>\n<p><em>(This article first appeared in the <\/em><a href=\"http:\/\/www.canadianminingjournal.com\/\"  rel=\"noreferrer noopener\"><em>Canadian Mining Journal<\/em><\/a><em>)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Companies have signed an option agreement under which Hochschild can earn a 60% stake in the project.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1161614"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1161614"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1161614\/revisions"}],"predecessor-version":[{"id":1161615,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1161614\/revisions\/1161615"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1161614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1161614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1161614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}