Adventure Gold Continues to Extend Beliveau West Gold Zones and Discovers a Significant Gold System 550 Metres Further North
20 Juin 2012 - 2:30PM
Marketwired Canada
Adventure Gold Inc. (TSX VENTURE:AGE) (the "Company") is pleased to report a
first set of results from the Phase 3 drilling program on its 100%-owned
Pascalis-Colombiere gold property (the "Property"), located in the eastern part
of the Val-d'Or mining camp, Quebec. Results come from fourteen (14) holes
drilled in the Beliveau West Area (5 holes totalling 1,000 metres) and further
north (9 holes totalling 4,000 metres). The best intercepts, in core length, are
summarized as follows:
Beliveau West Area
-- Hole PC-12-45: 3.1 g/t Au over 27.0 metres including 8.6 g/t Au over 4.0
metres and 5.0 g/t Au over 4.7 metres;
-- Hole PC-12-46: 0.8 g/t Au over 69 metres and 0.8 g/t Au over 36 metres
including 3.7 g/t Au over 5.0 metres and 11.3 g/t Au over 3.3 metres;
-- Hole PC-12-43: 1.1 g/t Au over 43.8 metres including 5.2 g/t Au over 4.3
metres;
-- Hole PC-12-42: 0.5 g/t Au over 73.0 metres including 5.2 g/t Au over 4.0
metres.
North Zone (550 metres north of Beliveau West Area)
-- Hole PC-12-34: 0.9 g/t Au over 111.3 metres, including 5.2 g/t Au over
4.4 metres and 3.2 g/t Au over 4.9 metres;
-- Hole PC-12-39: 1.0 g/t Au over 13.8 metres and 43.7 g/t Au over 0.6
metre.
Loraine East (175 metres east of Loraine showing)
-- Hole PC-12-38: 0.6 g/t Au over 22.7 metres including 2.6 g/t Au over 3.7
metres.
"We continue to report significant gold intersections from the Beliveau West
Area and the gold system is still open. The initial results from our exploration
drilling in the North Zone and east of the Loraine showing are also very
promising. Additional exploration work is definitively warranted in both areas.
The drilling program is in progress with two drill rigs now and should be
completed in early July", stated Marco Gagnon, President and CEO of Adventure
Gold Inc.
Table 1 shows all significant results from the fourteen (14) drill holes.
Surface map views (figures 1 and 2) show the location of drill holes on the
Property and in the Beliveau West Area. Assay results are still pending for
sixteen holes (16) totalling 5,280 metres (PC-12-47 to 62, see location on
figures 1 and 2). Final results will be released as soon as the complete set of
results is received.
Figures 1 and 2 are available at:
http://www.adventure-gold.com/common/documents/Pascalis_regional_Figure1_18juin2012.pdf
http://www.adventure-gold.com/common/documents/Pascalis_SurfaceMapBW_Figure2_18juin2012.pdf
Gold mineralization encountered in the North Zone is typical of what is observed
in the Beliveau Mine geological environment (see previous press release on
Pascalis-Colombiere). The mineralization generally consists of disseminated
pyrite in quartz-tourmaline veins inside diorite dykes and in altered volcanic
rocks. The geometry of the gold-bearing structures and the diorite dykes are
also similar.
Gold mineralization intersected in hole PC-12-38 is typical of the
mineralization at the Loraine and Highway showings. The E-W-trending subvertical
Loraine structure has now been traced over at least 175 metres in strike length
and remains open in all directions. Best gold intercepts are associated with
strong albitization and silicification with 15% disseminated pyrite.
Table 1: First set of results from Phase 3 drilling program on
Pascalis-Colombiere property.
------------------------------------------------------------------------
------------------------------------------------------------------------
Drill hole UTM East UTM North Azimuth Dip Length (m)
------------------------------------------------------------------------
PC-12-33 312610 5335450 360 -56 450
Inc.
PC-12-34 312580 5335520 358 -56 471
Inc.
Inc.
Inc.
Inc.
PC-12-35 312550 5335605 360 -57 381
PC-12-36 312866 5335875 55 -70 183
PC-12-37 312247 5336049 340 -50 491
PC-12-38 312100 5335855 360 -47 498
Inc.
PC-12-39 312574 5335588 358 -77 489
Inc.
PC-12-40 312723 5335265 80 -85 54
PC-12-41 312723 5335265 66 -83 840
PC-12-42 312762 5335127 358 -48 119
Inc.
Inc.
Inc.
PC-12-43 312759 5335042 357 -50 321
Inc.
Inc.
Inc.
Inc.
PC-12-44 312823 5335164 360 -51 156
PC-12-45 312811 5335111 360 -50 186
Inc.
Inc.
Inc.
Inc.
Inc.
Inc.
PC-12-46 312817 5334975 360 -54 217
Inc.
Inc.
Inc.
Inc.
Inc.
------------------------------------------------------------------------
------------------------------------------------------------------------
----------------------------------------------------------------
----------------------------------------------------------------
Drill hole From To Core Au(ii)
(m) (m) length(i) (g/t)
(m)
----------------------------------------------------------------
PC-12-33 169.0 34.5 0.5
203.5
193.0 194.5 1.5 4.1
PC-12-34 48.0 62.0 14.0 0.7
49.0 50.0 1.0 5.4
179.6 184.8 5.2 2.8
198.7 310.0 111.3 0.9
202.6 207.0 4.4 5.2
243.4 248.3 4.9 3.2
281.6 287.1 5.5 2.1
340.7 342.2 1.5 3.4
PC-12-35 239.4 241.0 1.6 4.9
PC-12-36 71.1 72.7 1.6 1.7
PC-12-37 151.7 152.7 1.0 4.7
PC-12-38 21.1 24.3 3.2 1.1
212.9 213.4 0.5 7.4
254.2 276.9 22.7 0.6
256.8 260.5 3.7 2.6
PC-12-39 176.2 190.0 13.8 1.0
176.2 181.5 5.3 1.7
262.7 263.3 0.6 43.7
385.3 388.3 3.0 1.4
PC-12-40 Abandoned Hole
PC-12-41 577.8 579.7 2.7 1.9
PC-12-42 37.6 110.6 73.0 0.5
39.6 43.0 3.4 1.5
92.0 96.0 4.0 5.2
107.6 110.6 3.0 2.1
PC-12-43 110.6 214.0 103.4 0.6
119.0 121.9 2.9 2.0
146.1 189.9 43.8 1.1
146.2 150.5 4.3 5.2
171.0 176.0 5.0 2.0
PC-12-44 35.0 38.0 3.0 1.3
62.1 67.0 4.9 1.1
PC-12-45 13.6 128.0 114.4 1.2
13.6 18.0 4.4 1.8
44.5 71.5 27.0 3.1
55.0 59.0 4.0 8.6
65.5 71.5 6.0 3.8
95.7 100.4 4.7 5.0
125.0 128.0 3.0 2.7
163.0 165.8 2.8 1.5
PC-12-46 9.0 45.0 36.0 0.8
9.0 14.0 5.0 3.7
40.8 44.4 3.6 3.1
148.4 217.2 68.8 0.8
157.2 160.5 3.3 11.3
186.0 190.1 4.1 1.5
214.7 217.2 2.5 1.1
----------------------------------------------------------------
----------------------------------------------------------------
(i) Reported gold intersections are measured along the hole. Additional
drilling will have to be done to determine the true thickness of the
mineralized zones.
(ii) Uncut gold value.
Pascalis-Colombiere Property
The Property consists of 33 mining titles totalling 637 hectares, located in the
eastern portion of the Val-d'Or-Malartic gold district, which has produced more
than 30 million ounces of gold to date (Geological Survey of Canada
website-World Geoscience Database). The Property is also adjacent to the
Company's 100%-owned Beaufor North property, located 1.5 kilometre east of the
producing Beaufor Gold Mine held by Richmont Mines (over 1 million ounces of
gold produced: Richmont Mines press release, March 23, 2010). From 1989 to 1993,
the Property was the site of gold production at the L.C. Beliveau Mine, where
Cambior Inc. (now IAMGOLD) mined the New Pascalis gold deposit. A total of 1.8
Mt of ore was extracted at a grade of 3.2 g/t Au, from the surface to 300 metres
depth (total of 167,000 ounces of gold, official production from Cambior
postmortem report, Nov. 1996). The geological setting of the Property appears to
be very favourable for the identification of new high-grade gold-bearing veins
and structures or bulk-style ore shoots.
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, 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 20 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.
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. For more information, please contact:
Follow Adventure Gold on:
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.
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