Mazorro Resources and Adventure Gold Intersect 7.7 g/t Au Over 12.1 Metres at Shallow Depths on Lapaska Gold Property
18 April 2012 - 10:30PM
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 the final results from the Phase 2 and Phase 3 surface diamond drilling
programs on the Lapaska Gold Property (the "Property") located in the prolific
Abitibi Greenstone Belt, 20 km east of Val-d'Or, Quebec. The Property is under
option from AGE. The final set of results comes from seven (7) holes totalling
2,303 metres drilled in the Lapaska Central zone ("LC Zone") and in the West
zone.
The best intercepts, in core length, are summarized as follows:
In the LC Zone:
-- Hole LP-11-39: 1.1 g/t Au over 138.4 metres at a depth of 53 metres,
including a section grading 7.7 g/t Au over 12.1 metres;
-- Hole LP-12-41: 1.0 g/t Au over 86.8 metres at a depth of 29 metres,
including a section grading 14.7 g/t Au over 3.3 metres;
-- Hole LP-11-38: 0.8 g/t Au over 119.9 metres at a depth of 79 metres,
including a section grading 4.7 g/t Au over 5.9 metres; and
-- Hole LP-12-40: 1.1 g/t Au over 61.4 metres at a depth of 84 metres,
including a section grading 4.2 g/t Au over 3.9 metres.
Dean Hanisch, President and CEO of Mazorro, stated: "The new results from the
Lapaska drilling confirm again the presence of high-grade gold-bearing
structures in the LC Zone. New gold intercepts also indicate that the gold
system is still open laterally and at depth and we may have the potential to add
additional high-grade, near-surface structures to the expanding discovery at
Lapaska. Based on the strength of today's results, new modelling of the LC Zone
is on-going and additional follow-up drilling in Phase 4 is currently being
planned. We are very enthusiastic about the exploration upside at Lapaska.
Mazorro intends to complete the first stage earn-in to have a vested 50%
interest in the Lapaska property during 2012. Completion of the initial earn-in
requires additional exploration expenditures of approximately $325,000 and could
be achieved as soon as the completion of Phase 4 drilling."
Gold mineralization intersected in the recent 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 dacitic rocks. Table 1 shows all the
significant results from the seven (7) drill holes and one (1) deepened hole. A
surface map view (Figure 1: http://file.marketwire.com/release/mzo_fig1.pdf )
shows the location of drill holes at the Property scale. Figure 2
(http://file.marketwire.com/release/mzo_fig2.pdf) shows a close-up view of the
drilling at the LC Zone scale and Figure 3
(http://file.marketwire.com/release/mzo_fig1.pdf) shows a 3D view of the 0.5 g/t
gold envelope modelled before the final results of Phase 2 and 3 drilling at the
LC Zone.
Table 1: Final results from the Phase 2 and Phase 3 drilling programs at
Lapaska
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Core Au
Drill UTM UTM Length From To length(i) (ii)
hole East North Azimuth Dip (m) (m) (m) (m) (g/t)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LC Zone
LP-11-37 311830 5326037 280 -52 249 No significant values
LP-11-38 311931 5326037 280 -54 300 79.3 199.2 119.9 0.8
Inc. 108.6 114.5 5.9 4.7
LP-11-39 312092 5326022 278 -55 375 52.5 190.9 138.4 1.1
Inc. 136.7 148.8 12.1 7.7
LP-12-40 312263 5325971 278 -53 349.5 84.1 145.5 61.4 1.1
Inc. 120.5 124.4 3.9 4.2
LP-12-41 311911 5326066 280 -50 201 28.5 115.3 86.8 1.0
112.0 115.3 3.3 14.7
LP-12-42 312020 5326060 278 -56 279.5 No significant values
LP-11-28Ext 312164 5325999 278 -54 99 207.0 213.7 6.7 0.7
West Zone
LP-11-36 310507 5326091 360 -63 450 251.5 264.0 12.5 0.9
----------------------------------------------------------------------------
(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.
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
and Phase 3 drilling programs. 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.
(TSXV:MZO)
Historical Stock Chart
From May 2024 to Jun 2024
(TSXV:MZO)
Historical Stock Chart
From Jun 2023 to Jun 2024
