Mazorro Resources and Adventure Gold Intersect High Grades at Shallow Depths on Lapaska Bulk Tonnage Gold Property Including ...
08 February 2012 - 11:30PM
Marketwired Canada
Mazorro Resources Inc. ("Mazorro" or the "Company") (TSX
VENTURE:MZO)(FRANKFURT:JAM) and Adventure Gold Inc. (TSX VENTURE:AGE) 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.
Dean Hanisch, President and CEO of Mazorro, 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 zone extensions, which have a very
positive impact on the increase in 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 (see Figure 1:
http://media3.marketwire.com/docs/Mazorro_map_0208.pdf) 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.
Table 1: Second set of results from the Phase 2 Lapaska drilling program.
Core
Drill UTM UTM Length From To length(i) Au(ii)
hole East North Azimuth Dip (m) (m) (m) (m) (g/t)
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
(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 - 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. 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.
Jules Riopel, P.Geo., Vice-President Exploration and Acquisitions of Adventure
Gold Inc., acts as the "Qualified Person" as defined by NI 43-101 for the
Lapaska Property and has reviewed this press release and 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.
About Mazorro
Mazorro Resources Inc. is a TSX Venture listed, Canadian based, precious metals
exploration company that is active in creating value through exploration and
development of bulk tonnage and high-grade gold deposits within Canada's Abitibi
Gold district. Mazorro has 47,364,773 common shares outstanding.
Some statements in this release may contain forward-looking information. All
statements, other than of historical fact, that address activities, events or
developments that the Company believes, expects or anticipates will or may occur
in the future (including, without limitation, statements regarding potential
mineralization) are forward-looking statements. Forward-looking statements are
generally identifiable by use of the words "may", "will", "should", "continue",
"expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or
the negative of these words or other variations on these words or comparable
terminology. Forward-looking statements are subject to a number of risks and
uncertainties, many of which are beyond the Company's ability to control or
predict, that may cause the actual results of the Company to differ materially
from those discussed in the forward-looking statements. Factors that could cause
actual results or events to differ materially from current expectations include,
among other things, without limitation, failure to establish estimated mineral
resources, the possibility that future exploration results will not be
consistent with the Company's expectations, changes in world gold markets or
markets for other commodities, and other risks disclosed in the Company's public
disclosure record on file with the relevant securities regulatory authorities.
Any forward-looking statement speaks only as of the date on which it is made and
except as may be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement.
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