Mazorro Resources Inc.

Mazorro Resources Inc.

April 18, 2012 08:30 ET

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

OTTAWA, ONTARIO--(Marketwire - April 18, 2012) - 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: ) 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.

Table 1: Final results from the Phase 2 and Phase 3 drilling programs at Lapaska
Azimuth Dip Length
Au **
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
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
* 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.

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.

Neither the TSX Venture Exchange or 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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