Adventure Gold Inc.
TSX VENTURE : AGE

Adventure Gold Inc.

June 04, 2015 09:00 ET

Adventure Gold Outlines Promising IP Anomalies Along the Lower Detour Gold Trend and Releases Results from its First Drill Program on the Detour Quebec Properties

MONTREAL, QUEBEC--(Marketwired - June 4, 2015) - Adventure Gold Inc. (TSX VENTURE:AGE) (the "Company") is pleased to announce that new line cutting work and geophysical (Induced Polarization/Resistivity "IP") surveys are now completed on four grids of its 100% owned Detour Quebec project (the "Project"). New results outline large IP anomalies on the Lower Detour Gold Trend. The Company also announces the results of the 1,500 metres drilling program testing targets along or close to the Sunday Lake Deformation Zone. Two of the four holes, drilled last April, intersected gold mineralization of interest. The Project consists of 875 claims and covers an area of 47,343 hectares over 80 kilometres on the Detour Gold Trend (DGT). The Project is adjacent to the Detour Gold Corp. properties which encompass the Detour Lake gold deposit, which currently hosts 15.0 million ounces of proven and probable mineral gold reserves (National Instrument 43-101 compliant as 2014 Year-end Mineral Reserves and Resources).

"The recent IP survey on the Massicotte grid is providing us with a better drill targeting on the Lower Detour Gold Trend where geological information is very limited. We believe that this year other IP surveys will continue to outline many quality drilling targets along the proven major gold structures on our properties. Drilling intercepts from two holes of our first drill program show also that we are at the right address and that we must persevere. This project needs definitively more drilling." commented Marco Gagnon, Adventure Gold's President and Chief Executive Officer.

Massicotte IP survey results (Lower Detour Gold Trend)

From the four grids totalling 91 kilometres of IP completed this year, the Company releases today the results from the Massicotte survey which totals 23.5 kilometres (Figure 1). Results for the other grids will be release later as final interpretation is not completed yet. Several additional surveys are also on-going or planned. They should be completed by next fall.

The IP anomalies outlined by the Massicotte survey suggest promising drilling targets associated with the Lower Detour Deformation Zone and the Southern Deformation Zone (Figure 2). Three larger and stronger IP anomalies extend up to 800 metres long and are still open to the East and to the West. Two of these anomalies are interpreted as disseminated sulphide zones along deformation corridors which may carry gold mineralization and are considered top priority drilling targets. Throughout the DGT gold deposits in Quebec and Ontario there is a strong correlation between gold mineralization and sulphide minerals.

Initial drilling on the Casgrain property (Sunday/Detour Lake Deformation Zone)

The 1,500 metres four drill holes program initially focused on follow-up drilling at depths of historical gold zones associated with the Sunday/Detour Lake Deformation Zone located four kilometres south of Balmoral's Bug Lake high-grade gold zone. Twenty historic shallow drill holes in these zones have returned gold intercepts with grade by thickness ranging from one to 15 g/t Au by metres (MRN Sigeom database). Two holes (CA-15-01 & 02) were targeting at 275-300 metres depth, potentially enriched gold-sulphide mineralization within these zones (Figure 3). Both holes intersected gold-sulphide mineralization in a strongly deformed and altered shear zone hosted in mafic and felsic volcanic rocks. Also of interest, feldspar porphyry dikes were observed in the shear zone. Mineralization consists of disseminated pyrite to locally up to 5%. Mineralisation is associated with large sericite, quartz and iron carbonate alteration envelope. As seen on Figure 4, anomalous gold values (more than 0.1 g/t Au) occurring discontinuously over more than 250 metres and locally grading up to 2.3 g/t Au over 0.5 metre were intersected in hole CA-15-02. Results were nearly the same in hole CA-15-01 and the best assay results returned 0.6 g/t Au over 1 metre. Both holes started in the shear zone and ended in un-deformed mafic volcanic rocks. The true thickness of the shear zone is estimated to a minimum of 300 metres and its southern contact with sediments remains untested. Holes CA-15-03 & 04 were designed to test two IP anomalies located 5 kilometers to the south of the Sunday/Detour Lake Deformation Zone and no significant gold assay results were returned from these holes.

Quality control

During the drilling program, assay samples were taken from the NQ core and sawed in half, with one-half sent to Agat Laboratory, a commercial laboratory and the other half retained for future reference. A strict QA/QC program was applied to all samples; which includes insertion of mineralized standards and blank samples for each batch of 20 samples. The gold analyses were completed by fire-assayed with an atomic absorption finish on 50 grams of materials. 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 (Metalic Sieve) were carried out on the samples which presented a great variation of their gold contents or the presence of visible gold.

Jules Riopel, vice-president, exploration and acquisitions, of Adventure Gold, acting as the qualified person (as defined by National Instrument 43-101), reviewed and approved the scientific and technical information in this press release. He supervised the work program on the Project.

Profile

Adventure Gold Inc. is a mineral exploration company focused on discovering and developing high-quality gold deposits in the Abitibi region located in eastern Canada - one of the richest gold mining areas in the world. Adventure Gold has become, in a few years, an important player in the mineral exploration industry with one of the best portfolios of exploration properties along the main gold-bearing structures of the Abitibi Greenstone Belt. The Company is exploring mainly close to gold mines where mining production infrastructure is already in place, which distinguishes it from several other exploration companies. Adventure Gold's exploration team consists of mining professionals having worked previously for well-established producing companies, who understand industry challenges. The Company owns 100% of the rights on its two main projects namely: Val-d'Or East (90km²; 770,000 ounces of gold at 2.6 g/t Au in Inferred resources of which 332,000 ounces at 2.4 g/t Au in-pit resources - January 2013, 43-101 technical report) and Detour Quebec (473km²; discovery stage project encompassing 80km of prospective land adjacent to Detour Gold Corp. properties). With 74M shares issued, 35 % owned by institutions, close to 10% owned by the management, no debt, core business mining titles in good standing for 2 years and JV properties with gold producers in Timmins and in Val-d'Or, Adventure Gold is well-positioned to benefit its shareholders.

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.

Figure 1 is available at the following address: http://media3.marketwire.com/docs/AGE_1.jpg

Figure 2 is available at the following address: http://media3.marketwire.com/docs/AGE_2.jpg

Figure 3 is available at the following address: http://media3.marketwire.com/docs/AGE_3.jpg

Figure 4 is available at the following address: http://media3.marketwire.com/docs/AGE_4.jpg

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