Adventure Gold and Mazorro Resources Intersect 60.6 Metres of 3.1 g/t Au at the Lapaska Bulk Tonnage Gold Property
MONTREAL, QUEBEC -- (Marketwire) -- 12/01/11 -- Adventure Gold (TSX VENTURE: AGE) ('AGE', the 'Company') and Mazorro Resources Inc. (TSX VENTURE: MZO)(FRANKFURT: JAM) ('MZO') are pleased to announce initial assay 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, totaling 352 hectares, is wholly-owned by AGE and under option to MZO (see press release dated December 15, 2010). The initial Phase 2 results come from four (4) holes drilled in the Lapaska Central zone ('LC Zone') with the best intercepts, in core length, yielding:
-- Hole LP-11-27: 3.1 g/t Au over 60.6 metres, including a section grading
7.4 g/t Au over 11.8 metres at a depth of 70.7 metres;
-- Hole LP-11-25: 1.2 g/t Au over 43.2 metres, including a section grading
4.8 g/t Au over 5.5 metres at a depth of 35.1 metres; and
-- Hole LP-11-24: 1.0 g/t Au over 65.6 metres, including a section grading
8.8 g/t Au over 4.4 metres at depth of 271.8 metres within a gold halo
of 0.6 g/t Au over 144 metres.
The second phase drill program, totaling approximately 4,000 metres in ten (10) holes, is designed to test the extensions of the LC Zone laterally and to the North, the West Zone and several new targets. The drilling program is still in progress and should be completed by mid December.
Marco Gagnon, President and CEO of Adventure Gold Inc., stated: 'We are extremely pleased with these initial results which include near-surface high-grade gold intercepts over significant intervals. The gold grades are the highest encountered in all drilling to date at the LC Zone. Additional drilling is in progress to evaluate the area. We are continuing to improve our understanding of the LC Zone and our short-term priority is still to define the near-surface extensions of the gold deposit. LC Zone is still open to the East, the Northwest and locally to the North.'
Gold mineralization intersected in Phase 2 drill holes is typical of the LC Zone geological environment (see previous press release on Lapaska drilling). In drill core, visible gold was locally observed but generally the mineralization consists of disseminated pyrite in quartz-tourmaline veins and in altered host rocks. Table 1 shows all the significant results from the first four drill holes. A surface map view (Figure 1) shows the location of drill holes at the property and at the LC Zone scales. Figure 2 shows the location of the best new results on the longitudinal section. Holes 25 and 27, drilled north of the longitudinal section, did not fully crosscut all of the gold mineralization as they finished in a historical underground ramp. Two subsequent Phase 2 holes will be completed shortly to evaluate this area in detail.
Figures 1 and 2 are available at:
http://www.adventure-gold.com/common/documents/Lapaska_SurfaceMap_Figure1_1dec2011.pdf
http://www.adventure-gold.com/common/documents/Lapaska_Longsection_Figure2_1dec2011.pdf
Table 1: First set of results from the Phase 2 Lapaska drilling program.
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Core
Drill UTM UTM Length From length(i) Au (ii)
hole East North Azimuth Dip (m) (m) To (m) (m) (g/t)
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LP-11-24 312315 5325962 278 -57 444 175.7 319.9 144.2 0.6
Inc. 234.9 300.5 65.6 1.0
Inc. 271.8 276.2 4.4 8.8
LP-11-25 312055 5326017 279 -53 77 22.5 65.7 43.2 1.2
Inc. 35.1 40.6 5.5 4.8
LP-11-26 311792 5326061 279 -53 204 No significant values
LP-11-27 312024 5326035 278 -50 85 24.4 85.0 60.6 3.1
Inc. 70.7 82.5 11.8 7.4
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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 (north-south).
(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 - MDV: TSX-V, 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.
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 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 20 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.
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.
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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