Adventure Gold Inc.
TSX VENTURE : AGE

Adventure Gold Inc.

April 18, 2012 08:30 ET

Adventure Gold and Mazorro Resources Intersect 7.7 g/t Au Over 12.1 Metres at Shallow Depth on Lapaska Gold Property

MONTREAL, QEBEC--(Marketwire - April 18, 2012) - Adventure Gold inc. (TSX VENTURE:AGE) ("AGE", the "Company") and Mazorro Resources inc. (TSX VENTURE:MZO)(FRANKFURT:JAM)("MZO") 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 wholly-owned by AGE and under option to MZO (see agreement in press release dated December 15, 2010). 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:

  • 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.

"These new results from the Lapaska drilling confirm again the presence of high-grade gold-bearing structures in the LC Zone," said Marco Gagnon, president and chief executive officer of Adventure Gold. "New gold intercepts also indicate that the gold system is still open laterally and at depth and we 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 ongoing and additional follow-up drilling is currently being designed. We are very enthusiastic about the exploration upside at Lapaska."

Gold mineralization intersected in the recent drill holes is typical of the Lapaska geological environment. Visible gold was locally observed in the drill core but generally the mineralization consists of disseminated pyrite in quartz-tourmaline veins and in altered dacitic rocks. Table 1 shows the significant results from the seven (7) drill holes and one (1) deepened hole. A surface map view (Figure 1) shows the location of drill holes at the Property scale. Figure 2 shows a close-up view of the drilling at the LC Zone scale and Figure 3 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.

Figure 1, 2 and 3 are available at:

http://www.adventure-gold.com/common/documents/Lapaska_SurfaceMap_12avril2012.pdf

http://www.adventure-gold.com/common/documents/Lapaska_CloseUp_LCZone_11avril2012.pdf

http://www.adventure-gold.com/common/documents/Lapaska_Vue3D_11avril2012.pdf

Table 1: Final results from the Phase 2 and Phase 3 drilling programs at Lapaska
Drill hole UTM
East
UTM
North
Azimuth Dip Length(m) From
(m)
To
(m)
Core
length*(m)
Au **
(g/t)
LC Zone
LP-11-37 311830 5326037 280 -52 249 NSV
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
112.0
115.3
115.3
86.8
3.3
1.0
14.7
LP-12-42 312020 5326060 278 -56 279.5 NSV
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
* 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.
** 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 and Phase 3 drilling programs. Assay samples were taken from NQ core sawed in half, with one half sent to Agat Laboratories Ltd., 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.

In other news

Drilling continues on the Val d'Or East Pascalis property with one drill rig currently focused on the exploration of the Pascalis Gold Trend, north of the former Beliveau Mine. Nine (9) holes totalling 3,409 metres have been completed to date. Initial results from the ongoing 15,000-metre drill program will be released as soon as available.

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:

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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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