Mazorro Resources Inc.

Mazorro Resources Inc.

June 16, 2011 08:30 ET

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

OTTAWA, ONTARIO--(Marketwire - June 16, 2011) -Mazorro Resources Inc. (TSX VENTURE:MZO)(FRANKFURT:JAM) ("MZO" or "Mazorro") and Adventure Gold (TSX VENTURE:AGE) ("AGE") are pleased to 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.

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, with our partner AGE, in order to extend the zone in all directions", stated Andre Audet, President and CEO of Mazorro.

Significant drilling results for the first two holes are presented in Table 1 and a longitudinal section of the recently performed drilling is attached (see Figure 1: These two diamond drill holes 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.

*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 (March 22, 2011) on the Lapaska Central Zone. Table 2 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 Resource of Lapaska Central Zone

Cut-off Grade g/t AuTonnesAvg. Grade g/t AuOunces of Gold
Note: Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

Jules Riopel, P.Geo., Vice-President Exploration and Acquisitions of Adventure Gold Inc. is acting as the "Qualified Person" as defined by NI 43-101 and 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.

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.

Contact Information

  • Andre Audet
    President & Chief Executive Officer

    Launch IR Inc.