Adventure Gold Inc.
TSX VENTURE : AGE

Adventure Gold Inc.

November 02, 2011 08:30 ET

Adventure Gold Intersects 5.9 g/t Au, 0.4% Cu and 8 g/t Ag Over 4.4 Metres in Channel Sampling at Pascalis-Colombiere Property

MONTREAL, QUEBEC--(Marketwire - Nov. 2, 2011) - Adventure Gold Inc. (TSX VENTURE:AGE) (the "Company") is pleased to release significant results from channel sampling performed over two mechanical stripping areas recently completed on its 100%-owned Pascalis-Colombiere property (the "Property"), located in the eastern part of the Val-d'Or mining camp, Quebec. As reported on October 26, the Company's exploration team made a new high-grade gold-copper-silver discovery grading up to 4.7 g/t Au, 11.5% Cu and 112 g/t Ag in grab samples north of the Highway gold zone. Best results coming from channel samples on the new discovery, named the Loraine zone, returned:

  • 5.9 g/t Au, 0.4% Cu and 8.0 g/t Ag over 4.4 metres including a section grading 8.3 g/t Au, 0.4% Cu and 9.5 g/t Ag over 3 metres;
  • 3.7 g/t Au, 0.1% Cu and 1.6 g/t Ag over 5.6 metres including a section grading 6.4 g/t Au, 0.2% Cu and 2.7 g/t Ag over 3.2 metres;
  • 3.2 g/t Au, 0.6% Cu and 9.9 g/t Ag over 4.8 metres including a section grading 4.3 g/t Au, 0.6% Cu and 10.9 g/t Ag over 3.5 metres; and
  • 2.8 g/t Au, 0.3% Cu and 3.4 g/t Ag over 5.3 metres including a section grading 4.5 g/t Au, 0.4% Cu and 5.1 g/t Ag over 3.3 metres.

The new gold system remains open to exploration and additional work will be required to assess the lateral and depth extensions of this significant discovery. Drill targets have already been defined and will be tested during the next drilling program (Phase 3). A location map (Figure 1) showing the channel sampling results can be found on AGE's website at www.adventure-gold.com. A total of 124 channel samples were collected from 14 lines across the two stripping areas. Results are listed in Table 1 below.

Loraine zone and Highway North area mineralization

Mechanical stripping was carried out in two areas located 120 and 150 metres northwest of the Highway zone and successfully uncovered new gold mineralization. The Pascalis Gold Trend has now been traced over a strike length of more than 2.5 kilometres. On the northernmost stripping area (Loraine zone), the mineralization consists of disseminated sulphides and chalcopyrite-pyrite veins in strongly altered (silicification and albitization) and deformed mafic rocks. The mineralized zone extends over at least 25 metres in strike length (east-west) by at least 5 metres in thickness (north-south). The second stripping area is characterized by a stockwork of quartz-tourmaline veins and disseminated pyrite in strongly altered (albitization) mafic rocks. The mineralized zone extends over a surface area of at least 15 metres by 15 metres.

Jules Riopel, Vice-President Exploration and Acquisitions of Adventure Gold, stated: "The next exploration step will be to test the immediate extensions of the Loraine zone by drilling. We also intend to conduct an IP survey to cover the area around this new mineralized system. Prospecting and sampling is scheduled in the spring of 2012 along the northern extension of the Pascalis Gold Trend."

Table 1: 2011 Channel sampling results

North Stripping

Channel line Length (metres) Au (g/t) Au g/t Copper (%)
G 6.0 NSV NSV NSV

H
2.6 NSV NSV NSV

A
4.8 0.8 NSV NSV

B
4.7 0.5 NSV NSV

C
5.6 3.7 1.6 0.14
Inc. 3.2 6.4 2.7 0.22

D
5.3 2.8 3.4 0.31
Inc. 3.3 4.5 5.1 0.43

E
4.4 5.9 8.0 0.37
Inc. 3.0 8.3 9.5 0.39

F
4.8 3.2 9.9 0.58
Inc. 3.5 4.3 10.9 0.63

EA
0.6 2.3 NSV 0.04

South Stripping

Channel line Length (metres) Au (g/t) Au g/t Copper (%)
AA 12.6 0.5 NSV NSV

AE
1.2 NSV NSV NSV

AB
13.0 0.5 NSV NSV

AC
10.1 0.5 NSV NSV

AD
13.7 0.5 NSV NSV
NSV : No significant value

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 supervised the field exploration program. Grab samples were sent for assaying to Agat Laboratories in Mississauga, Ontario, a commercial laboratory. A strict QA/QC program was applied to all samples, which includes mineralized standards and blank samples for each batch of 20 samples. 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. Silver and copper assays were determined by 4-acid digestion with an ICP-OES finish.

The figure 1 is available at: http://www.adventure-gold.com/common/documents/Pascalis_decapages_Figure1_2nov_2011.pdf

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.

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.

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.

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