Adventure Gold and Mazorro Resources Intersect High Grades at Shallow Depths on Lapaska Bulk Tonnage Gold Property Including 7.2 g/t Au Over 9 Metres at a Depth of 31 Metres
MONTREAL, QUEBEC -- (Marketwire) -- 02/08/12 -- Adventure Gold (TSX VENTURE: AGE) ('AGE', the 'Company') and Mazorro Resources Inc. (TSX VENTURE: MZO)(FRANKFURT: JAM) ('MZO') are pleased to announce a second set of results from the Phase 2 surface diamond drilling program on the Lapaska Gold Property (the 'Property') located in the prolific Abitibi Greenstone Belt, 20 km east of Val-d'Or, Quebec. The Property, totalling 352 hectares, is wholly-owned by AGE and under option to MZO (see agreement in press release dated December 15, 2010). The second set of results comes from eight (8) holes drilled in the Lapaska Central zone ('LC Zone'), the West zone and two exploration targets. The best intercepts, in core length, are summarized as follows:
In the LC Zone
-- Hole LP-11-35: 1.3 g/t Au over 124.7 metres, including sections grading
7.2 g/t Au over 9.0 metres and 5.2 g/t Au over 8.6 metres at depths of
30.9 and 70.0 metres respectively;
-- Hole LP-11-34: 0.8 g/t Au over 215.1 metres, including a section grading
4.9 g/t Au over 13.1 metres at a depth of 234.9 metres;
-- Hole LP-11-30: 0.5 g/t Au over 100.3 metres, including a section grading
3.2 g/t Au over 5.0 metres at a depth of 75.8 metres; and
-- Hole LP-11-28: 0.6 g/t Au over 15.6 metres at a depth of 191.4 metres.
In the West Zone
-- Hole LP-11-33: 0.5 g/t Au over 25.6 metres, at a depth of 277.5 metres;
and
-- Hole LP-11-32: 0.7 g/t Au over 10.9 metres, at a depth of 67.1 metres.
Marco Gagnon, President and CEO of Adventure Gold Inc., stated: 'We are pleased to release this successful set of drill results which include very significant near-surface new high-grade gold zones grading up to 7.2 g/t Au over 9.0 metres inside larger gold intercepts. We are also excited that the Phase 3 drill program is ongoing and is designed to test the LC Zone near surface extensions and to highlight the bulk tonnage potential of the deposit. In addition, Phase 3 drilling will help us to better define the high-grade gold zones extensions, which have a very positive impact on the increase of the overall grade of the deposit.'
Gold mineralization intersected in Phase 2 drill holes is typical of the Lapaska geological environment. In the drill core, visible gold was locally observed but generally the mineralization consists of disseminated pyrite in quartz-tourmaline veins and in altered dacite typical of the LC Zone. For the West zone, the gold intercepts are associated with disseminated pyrite in quartz-sericite and calcite veinlets and in diorite and feldspar porphyry dykes. Table 1 shows all the significant results from the eight (8) drill holes. A surface map view (Figure 1) shows the location of drill holes at the Property and at the LC Zone scale. Assay results are pending for four holes (LP-11-36 to 39) of Phase 2 and final results will be released as soon as possible. The LC Zone remains open laterally and at depth.
Figure 1 is available at:
http://www.adventure-gold.com/common/documents/Lapaska_Figure1_SurfaceMap_7fev2012_finale.pdf
Table 1: Second set of results from the Phase 2 Lapaska drilling program.
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Core Au
Drill UTM UTM Length From To length (ii)
hole East North Azimuth Dip (m) (m) (m) (i) (m) (g/t)
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LC Zone
LP-11-28 312164 5325999 278 -54 207 191.4 207.0 15.6 0.6
Inc. 194.2 197.4 3.2 2.1
LP-11-30 312038 5326050 278 -55 210 75.8 176.1 100.3 0.5
Inc. 75.8 80.8 5.0 3.2
Inc. 108.7 111.7 3.0 3.4
LP-11-34 312054 5326026 279 -53 294 29.7 244.8 215.1 0.8
Inc. 37.4 40.3 2.9 5.0
Inc. 234.9 248.0 13.1 4.9
LP-11-35 312023 5326040 278 -55 213 21.6 146.3 124.7 1.3
Inc. 30.9 39.9 9.0 7.2
Inc. 70.0 78.6 8.6 5.2
West Zone
LP-11-32 310315 5326336 40 -65 438 67.1 78.0 10.9 0.7
LP-11-33 310270 5326330 360 -60 309 277.5 303.1 25.6 0.5
Exploration
Targets
LP-11-29 311541 5326050 360 -75 552 No significant values
LP-11-31 312860 5326128 360 -75 452 No significant values
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(i) The length of the gold intervals mentioned above refers to the length
in the axis of drilling. The veins are usually cross referenced with a
strong angle by the holes for drilling. This indicates that the length
of the mineralized intervals is close to the actual thickness of the
zones. However, additional drilling will be necessary to assess their
lateral extensions.
(ii) Uncut gold value.
The Lapaska Property
The Property is favourably located between the past producing gold deposit Sigma II to the east (161,300 ounces at 2.7 g/t Au: MRNF - SIGEOM Database) which was operated by open pit method and the Simkar gold deposit to the west (NI 43-101 inferred resource of 105,000 oz at 5.3 g/t Au: Megastar, September 2008). The Property contains three significant gold-bearing zones: the Lapaska Central, West and Lourmet zones and is also strategically located along the prolific Cadillac Larder Lake Gold Break, a regionally extensive structure that is spatially related to numerous gold mines. Five drill holes completed last year in the Lapaska Central zone have shown widths of up to 200 metres and grades ranging between 0.5 g/t and 1.2 g/t. An update of the 2010 43-101 resource calculation is scheduled for early 2013.
Quality control
Jules Riopel, P.Geo., Vice-President Exploration and Acquisitions, acting as the Company's 'Qualified Person' as defined by NI 43-101, has reviewed this press release and has supervised the Phase 2 drilling program and is supervising the on-going Phase 3 drilling program. Assay samples were taken from NQ core sawed in half, with one half sent to Agat Laboratories, a commercial laboratory in Mississauga, Ontario, and the other half retained for future reference. A strict QA/QC program was applied to all samples, which includes mineralized standards and blank samples for each batch of 25 samples. The gold analyses were completed by fire assay with an atomic absorption finish on 50 grams of material. Repeats were carried out by fire assay followed by gravimetric testing on each sample containing 3.0 g/t gold or more. Total gold analyses (Metallic Sieve) were carried out on samples that showed a great variation in gold content or the presence of visible gold.
Profile:
Adventure Gold Inc. is a mineral exploration company focused on discovering high-quality gold deposits in the Abitibi Greenstone Belt located in northwestern Quebec and northeastern Ontario - one of the richest gold deposit areas in the world. Adventure Gold holds quality assets in the Val-d'Or, Rouyn-Noranda and Timmins areas and is led by determined management and technical teams with extensive exploration and mine production experience. Adventure Gold is proud to count on highly regarded partners such as Agnico-Eagle Mines Limited and Lake Shore Gold Corp. to explore its advanced-stage gold properties. For more information, please contact:
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LinkedIn: http://www.linkedin.com/company/2253943
The foregoing information may contain forward-looking statements and events relating to the future performance of the Company. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate regulatory authorities. We seek safe harbour.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Adventure Gold Inc.
Marco Gagnon
President & CEO
450.743.5527
marco@adventure-gold.com
Adventure Gold Inc.
Jules Riopel
Vice-President Exploration and Acquisitions
819.797.9770
jules@adventure-gold.com
www.adventure-gold.com