Adventure Gold Continues to Extend the Beliveau West Gold Zones and Drills 11.1 Metres at 7.1 g/t Au at Pascalis
20 Septembre 2012 - 2:30PM
Marketwired Canada
Adventure Gold Inc. (TSX VENTURE:AGE) (the "Company") is pleased to report a
second set of positive 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 12 holes
totalling 3,491 metres drilled mainly in the Beliveau West Area. The best
intercepts, in core length, are summarized as follows:
Beliveau West Area
-- Hole PC-12-56: 2.3 g/t Au over 51.1 metres including 8.5 g/t Au over 3.1
metres, 7.1 g/t Au over 11.1 metres, and 2.5 g/t Au over 3.8 metres;
-- Hole PC-12-57: 3.0 g/t Au over 33 metres including 3.7 g/t Au over 6.0
metres and 7.9 g/t Au over 8.0 metres;
-- Hole PC-12-55: 1.2 g/t Au over 48.5 metres including 12.1 g/t Au over
3.7 metres;
-- Hole PC-12-48: 1.0 g/t Au over 86.9 metres including 5.9 g/t Au over 3.9
metres and 7.5 g/t Au over 3.9 metres;
-- Hole PC-12-49: 0.9 g/t Au over 101.1 metres including 5.2 g/t Au over
4.5 metres, 5.1 g/t Au over 4.0 metres and 4.3 g/t Au over 2.7 metres;
-- Hole PC-12-51: 1.5 g/t Au over 41.4 metres including 6.4 g/t Au over 3.5
metres, 3.6 g/t Au over 3.5 metres, and 3.1 g/t Au over 2.9 metres.
Beliveau South Area
-- Hole PC-12-59: 1.0 g/t Au over 130.8 metres including 7.6 g/t Au over
5.7 metres and 6.7 g/t Au over 7.3 metres.
"These are again really encouraging results with economic grades. We extended
the Beliveau West gold zones with wide, high-grade intervals, while we also
continued to intersect lower-grade intervals over larger widths. The gold system
is still open to the west, the south and at depth. We are looking forward to the
first NI 43-101 resources calculation, which the Company expects to release in
October", stated Marco Gagnon, President and CEO of Adventure Gold Inc.
Table 1 shows all significant results from the 12 drill holes announced today.
Surface map views (figures 1 and 2) show the location of drill holes on the
Property and surrounding the former Beliveau mine. The drilling program was
completed in mid-July, with 37 holes totalling 12,020 metres. Assay results are
still pending for 10 holes totalling 3,673 metres (PC-12-58, PC-12-60 to 68).
Final results will be released as soon as the complete set of results is
received.
Table 1: Second set of results from Phase 3 drilling program on Pascalis-
Colombiere property.
------------------------------------------------------------
------------------------------------------------------------
Drill hole UTM East UTM North Azimuth Dip
------------------------------------------------------------
PC-12-47 312827 5334895 360 -56
PC-12-48 312782 5335049 360 -56
PC-12-49 312742 5335104 358 -52
PC-12-50 312720 5335025 359 -51
PC-12-51 312732 5335078 358 -54
PC-12-52 312721 5335101 357 -57
PC-12-53 312679 5335127 360 -57
PC-12-54 312722 5335128 358 -51
PC-12-55 312690 5335084 357 -57
PC-12-56 312742 5335150 360 -57
PC-12-57 312688 5335019 360 -55
PC-12-58 312743 5334887 360 -54
PC-12-59 312919 5334697 360 -71
------------------------------------------------------------
------------------------------------------------------------
------------------------------------------------------------------------
------------------------------------------------------------------------
Drill hole Length From To Core Au(ii)
(m) (m) (m) length(i) (g/t)
(m)
------------------------------------------------------------------------
PC-12-47 645 318.9 320.5 1.6 3.0
332.0 334.0 2.0 2.0
348.8 351.7 2.9 1.8
362.7 372.7 10.0 1.2
Inc. 362.7 365.2 2.5 2.9
454.1 464.9 10.8 1.1
Inc. 458.4 462.4 4.0 2.3
517.7 520.7 3.0 1.9
PC-12-48 315 104.1 191.0 86.9 1.0
Inc. 118.8 125.2 6.4 2.4
Inc. 129.9 133.8 3.9 5.9
Inc. 168.5 172.4 3.9 7.5
PC-12-49 192 28.4 129.5 101.1 0.9
Inc. 31.5 36.0 4.5 5.2
Inc. 42.0 46.0 4.0 5.1
Inc. 72.7 75.4 2.7 4.3
Inc. 109.0 112.1 3.1 2.7
Inc. 124.2 129.5 5.3 2.3
PC-12-50 314 38.0 41.0 3.0 2.0
156.0 160.4 4.4 3.2
221.8 227.5 5.7 1.3
PC-12-51 231 16.0 20.0 4.0 1.8
42.0 45.5 3.5 1.3
61.7 63.2 1.5 2.7
148.5 189.9 41.4 1.5
Inc. 148.5 152.0 3.5 6.4
Inc. 169.0 172.5 3.5 3.6
Inc. 180.3 183.0 2.7 2.3
Inc. 187.0 189.9 2.9 3.1
PC-12-52 192 24.4 26.9 2.5 2.7
106.0 108.9 2.9 1.6
PC-12-53 138 22.0 23.9 1.9 1.8
PC-12-54 144 9.0 12.6 3.6 5.0
26.5 30.8 4.3 1.4
89.2 91.0 1.8 2.8
PC-12-55 189 8.5 57.0 48.5 1.2
Inc. 24.0 27.0 3.0 2.3
Inc. 53.3 57.0 3.7 12.1
94.8 97.5 2.7 2.3
181.0 185.9 4.9 1.3
PC-12-56 111 8.9 60.0 51.1 2.3
Inc. 8.9 12.0 3.1 8.5
Inc. 14.5 25.6 11.1 7.1
Inc. 38.0 41.8 3.8 2.5
PC-12-57 321 95.0 97.5 2.5 2.8
121.0 124.0 3.0 3.8
168.0 201.0 33.0 3.0
Inc. 174.5 180.5 6.0 3.7
Inc. 192.0 200.0 8.0 7.9
219.0 222.0 3.0 2.0
PC-12-58 550 Assays Pending
PC-12-59 672 398.0 408.1 10.1 1.8
Inc. 398.0 401.0 3.0 4.1
468.3 599.1 130.8 1.0
Inc. 468.3 474.0 5.7 7.6
Inc. 530.0 537.3 7.3 6.7
Inc. 566.5 573.3 6.8 1.5
------------------------------------------------------------------------
------------------------------------------------------------------------
(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.
Val-d'Or East Project
The Val-d'Or East Project consists of the 100%-owned Pascalis-Colombiere,
Pascalis Extension, Senore, Beaufor West and North properties which all together
total 107 mining claims covering a surface area of 3,708 hectares (see figure
3). The properties, easily accessible by gravel roads, are 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 properties are also adjacent to the
producing Beaufor Gold Mine held by Richmont Mines (over 1 million ounces of
gold produced: Richmont Mines press release dated March 23, 2010). From 1989 to
1993, the Pascalis-Colombiere 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 properties appears to be very favourable for the identification of new
high-grade gold-bearing veins and structures or bulk-style ore shoots.
Figures 1, 2 and 3 are available at:
http://www.adventure-gold.com/common/documents/Pascalis_regional_Figure1_20sept2012.pdf
http://www.adventure-gold.com/common/documents/Pascalis_SurfaceMapBW_Figure2_20sept2012.pdf
http://www.adventure-gold.com/common/documents/Figure
3_allValDoreastproperties_20sept2012.pdf
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, Detour, Casa-Berardi 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.
Follow Adventure Gold on:
Twitter: 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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