Adventure Gold Inc.
TSX VENTURE : AGE

Adventure Gold Inc.

June 16, 2011 08:30 ET

Adventure Gold and Mazorro Resources Report 1.2 g/t Au Over 156.9 Metres on Lapaska Property, East of Val-d'Or, Quebec

MONTREAL, QUEBEC--(Marketwire - June 16, 2011) -Adventure Gold Inc. (TSX VENTURE:AGE) ("AGE" or the "Company") and Mazorro Resources Inc. (TSX VENTURE:MZO)(FRANKFURT:JAM) ("MZO") are pleased to report positive gold results from the first two holes of its ongoing surface drilling program on the Lapaska Gold Property (the "Property"). The Property, located 20 km east of Val-d'Or in the prolific Abitibi Greenstone Belt, is wholly-owned by AGE and under option to MZO (see agreement in press release dated Dec. 15, 2010).

The best gold intersections, in core length, yielded values of:

  • Hole LP-11-16: 1.0 g/t Au over 103.4 metres, including a section grading 10.3 g/t Au over 3.8 metres at 69.0 metres depth, within a gold halo of 0.3 g/t Au over 564.1 metres; and
  • Hole LP-11-17: 1.2 g/t Au over 156.9 metres, including a section grading 5.8 g/t Au over 3.9 metres and 4.7 g/t Au over 7.1 metres at 52.5 and 92.5 metres depth respectively, within a gold halo of 0.8 g/t Au over 245.5 metres.

"These two holes confirm the potential for a large gold system at the Lapaska Central Zone. Preliminary results are impressive and a gold halo of 0.3 g/t Au over 564 metres suggests a strong gold system. We will continue the drilling in order to extend the zone in all directions", stated Marco Gagnon, President and CEO of Adventure Gold Inc.

Significant drilling results for the first two holes are presented in Table 1 and a longitudinal section (Figure 1) of the recently performed drilling can be found on AGE's website at www.adventure-gold.com. These two diamond drill holes spaced at 120 metres and oriented at 280º and dipping at -52º were drilled perpendicular to the strike of the vein system in the Lapaska Central Zone.

Gold mineralization in the Central Zone is associated with a network of quartz-carbonate-tourmaline-pyrite veins and veinlets dipping to the east, largely hosted in a magnetic silicified felsic volcanic unit. Gold mineralization is similar to that observed at the Sigma II former producing gold mine, located 5 kilometres to the east. Measurements taken with a core orientation tool indicate the presence of two vein systems. The first system is N-trending and the second one is ENE-trending. A stacking of veins spaced every 0.5 to 2.0 metres is observed in the best mineralized zones. These holes were entirely assayed from top to bottom in order to fully characterize the gold content of the Lapaska Central Zone due to the fact that historical drill holes were never fully assayed.

Table 1: Preliminary results of the Phase I Lapaska 2011 drilling program.

Drill holeUTM
East
UTM
North
AzimuthDipLength
(m)
From
(m)
To
(m)
Core
length
*(m)
Au
**
(g/t)

LP-11-16
3121125325999280-5265445.3
148.7
103.41.0
Incl.69.072.83.810.3
LP-11-173119915326033280-5362125.2182.1156.91.2
Incl.52.556.43.95.8
Incl.92.599.67.14.7
* Reported gold intersections are measured along the hole and are close to the true thickness of the mineralized zones.
** Uncut gold value.

The Lapaska Property

The Property is favourably located between the past-producing Sigma II gold deposit to the east (161,300 ounces at 2.7 g/t Au: MRNF - SIGEOM Database), which was mined 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.

A NI 43-101 compliant resource estimate has been completed by InnovExplo (February 9, 2010) on the Lapaska Central Zone. The table below shows the variations with respect to metric tonnes, gold ounces and grades for various cut-off grades in the Inferred Resources of the Lapaska deposit (Central Zone).

Table 2: Inferred Mineral Resources of Lapaska Central Zone

Cut-off Grade
(g/t Au)
TonnesAvg. Grade
(g/t Au)
Ounces of Gold
0.52,143,7021.1579,324
1.0864,5631.8150,396
2.0219,5903.1422,197
Note: Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

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 drilling program. Assay samples were taken from NQ core sawed in half, with one half sent to AGAT Laboratories in Mississauga, Ontario, a commercial laboratory, and the other half retained for future reference. A strict QA/QC program was applied to all samples, which included 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.

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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