Adventure Gold and Mazorro Resources Intersect High Grades at Shallow Depths on Lapaska Bulk Tonnage Gold Property Including ...
08 February 2012 - 11:30PM
Marketwired Canada
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)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
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:
Follow Adventure Gold on:
Twitter: http://twitter.com/#!/Adventure_AGE
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.
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