Mazorro Resources Inc.

Mazorro Resources Inc.

February 08, 2012 08:30 ET

Mazorro Resources and Adventure Gold Intersect High Grades at Shallow Depths on Lapaska Bulk Tonnage Gold Property Including 7.2 g/t Over 9 Metres at a Depth of 31 Metres

OTTAWA, ONTARIO--(Marketwire - Feb. 8, 2012) - Mazorro Resources Inc. ("Mazorro" or the "Company") (TSX VENTURE:MZO)(FRANKFURT:JAM) and Adventure Gold Inc. (TSX VENTURE:AGE) are pleased to announce a second set of results from the Phase 2 surface diamond drilling program on the Lapaska Gold Property (the "Property") located in the prolific Abitibi Greenstone Belt, 20 km east of Val-d'Or, Quebec. The Property, totalling 352 hectares, is wholly-owned by AGE and under option to MZO (see agreement in press release dated December 15, 2010). The second set of results comes from eight (8) holes drilled in the Lapaska Central zone ("LC Zone"), the West zone and two exploration targets. The best intercepts, in core length, are summarized as follows:

In the LC Zone

  • Hole LP-11-35: 1.3 g/t Au over 124.7 metres, including sections grading 7.2 g/t Au over 9.0 metres and 5.2 g/t Au over 8.6 metres at depths of 30.9 and 70.0 metres respectively;
  • Hole LP-11-34: 0.8 g/t Au over 215.1 metres, including a section grading 4.9 g/t Au over 13.1 metres at a depth of 234.9 metres;
  • Hole LP-11-30: 0.5 g/t Au over 100.3 metres, including a section grading 3.2 g/t Au over 5.0 metres at a depth of 75.8 metres; and
  • Hole LP-11-28: 0.6 g/t Au over 15.6 metres at a depth of 191.4 metres.

In the West Zone

  • Hole LP-11-33: 0.5 g/t Au over 25.6 metres, at a depth of 277.5 metres; and
  • Hole LP-11-32: 0.7 g/t Au over 10.9 metres, at a depth of 67.1 metres.

Dean Hanisch, President and CEO of Mazorro, stated: "We are pleased to release this successful set of drill results which include very significant near-surface new high-grade gold zones grading up to 7.2 g/t Au over 9.0 metres inside larger gold intercepts. We are also excited that the Phase 3 drill program is ongoing and is designed to test the LC Zone near surface extensions and to highlight the bulk tonnage potential of the deposit. In addition, Phase 3 drilling will help us to better define the high-grade gold zone extensions, which have a very positive impact on the increase in the overall grade of the deposit."

Gold mineralization intersected in Phase 2 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 dacite typical of the LC Zone. For the West zone, the gold intercepts are associated with disseminated pyrite in quartz-sericite and calcite veinlets and in diorite and feldspar porphyry dykes. Table 1 shows all the significant results from the eight (8) drill holes. A surface map view (see Figure 1: shows the location of drill holes at the Property and at the LC Zone scale. Assay results are pending for four holes (LP-11-36 to 39) of Phase 2 and final results will be released as soon as possible. The LC Zone remains open laterally and at depth.

Table 1: Second set of results from the Phase 2 Lapaska drilling program.

Drill hole UTM
Azimuth Dip Length
LC Zone
LP-11-28 312164 5325999 278 -54 207 191.4 207.0 15.6 0.6
Inc. 194.2 197.4 3.2 2.1
LP-11-30 312038 5326050 278 -55 210 75.8 176.1 100.3 0.5
Inc. 75.8 80.8 5.0 3.2
Inc. 108.7 111.7 3.0 3.4
LP-11-34 312054 5326026 279 -53 294 29.7 244.8 215.1 0.8
Inc. 37.4 40.3 2.9 5.0
Inc. 234.9 248.0 13.1 4.9
LP-11-35 312023 5326040 278 -55 213 21.6 146.3 124.7 1.3
Inc. 30.9 39.9 9.0 7.2
Inc. 70.0 78.6 8.6 5.2
West Zone
LP-11-32 310315 5326336 40 -65 438 67.1 78.0 10.9 0.7
LP-11-33 310270 5326330 360 -60 309 277.5 303.1 25.6 0.5
Exploration Targets
LP-11-29 311541 5326050 360 -75 552 No significant values
LP-11-31 312860 5326128 360 -75 452 No significant values
* 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 - 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. 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 drilling program and is supervising the on-going Phase 3 drilling program. 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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