MONTREAL, QUEBEC--(Marketwired - Aug 19, 2015) -
Editors Note: There are three figures associated with this Press Release.
Adventure Gold Inc. (TSX VENTURE:AGE) (the "Company") is pleased to announce very positive gold intercepts from the channel sampling program carried out over two mechanical stripping areas on the New Beliveau gold deposit located on its 100 %-owned Val-d'Or East project (Press Release, June 29, 2015). Results confirm the presence of the interpreted east-west gold mineralization envelopes projected to the surface from the initial resource block model and generally yield better gold results in terms of length and grade.
Best intercepts from channel sampling returned:
- 6.4 g/t Au over 19.7 metres including a section grading 10.6 g/t Au over 11.5 metres;
- 4.6 g/t Au over 25.7 metres including a section grading 15.5 g/t Au over 5.9 metres;
- 7.6 g/t Au over 13.9 metres including a section grading 11.7 g/t Au over 7.7 metres;
- 3.2 g/t Au over 18.5 metres including a section grading 8.5 g/t Au over 5.6 metres;
- 2.3 g/t Au over 18.3 metres including a section grading 6.8 g/t Au over 4.7 metres;
- 1.6 g/t Au over 47.7 metres including a section grading 3.1 g/t Au over 11.5 metres and 3.6 g/t Au over 7.1 metres.
The East and West strip areas exposed four gold zones where high grade mineralization (higher than 5 g/t Au) can reach up to 20 metres in thickness. The mechanical stripping work also succeeded in outlining a new east-west gold zone that was never intercepted before by drilling in the West strip area. In addition, new gold envelopes delineated at 0.5 g/t Au are twice the size than the ones interpreted from the surface block model (0-10 metres). This should increase the grade of the dilution material in future modelling. Dilution was set at 0 g/t Au in the preliminary pit shell optimization.
The gold grade of all the 634 samples collected on the strip zones covering a surface of 3,230 m² averages 1.45 g/t Au with the best sample grading 93.4 g/t Au over 1 metre. All mineralized zones remain open laterally and extensions could be stripped later. The assay results from the channel sampling generally exceeded in grade and in thickness these obtained from the drill core. Table 1 shows a comparison between the drill hole and channel sampling results. All the results are listed in Table 2. Figures 1 to 3 show the location of the sample channels, the geology and the gold distribution on the West and East strip zones.
"The recent results show that our initial block model projected to surface under the strip zone areas was conservative. This leads us to believe that in addition to the exploration potential, we can possibly add more gold to the New Beliveau deposit with additional tighter-spaced drill holes and surface stripping work. We maintain our focus on advancing the development of this project and an economic study based on a starter open-pit operation scenario with custom milling is scheduled for later this year" stated Marco Gagnon, President and CEO of Adventure Gold.
Table 1: Comparison of 2015 channel sampling with previous core drilling results
| Channel Line |
Length**
(metres) |
Grade*
g/t Au |
DDH |
Length***
(metres) |
Grade*
g/t Au |
| C-3 |
25.7 |
4.6 |
PC-14-69 |
4.0 |
5.9 |
| C-4B |
19.7 |
6.4 |
PC-10-13 |
6.1 |
2.8 |
| C-5 |
13.9 |
7.6 |
PC-12-49 |
5.9 |
3.8 |
| C-6 |
18.3 |
2.3 |
PC-11-32 |
5.3 |
6.1 |
| C-8 |
20.9 |
0.6 |
PC-12-51 |
4.3 |
0.8 |
| C-10 |
17.6 |
2.3 |
PC-12-54 |
6.3 |
2.6 |
| C-11 |
11.7 |
0.5 |
PC-12-52 |
6.6 |
1.1 |
| B-8 |
18.3 |
0.6 |
PC-12-52 |
NSV |
| B-11 |
18.5 |
3.2 |
PC-12-51 |
10.3 |
0.6 |
| B-15 |
4.3 |
1.3 |
PC-12-13 |
3.1 |
0.7 |
| * |
Grade uncut |
| ** |
The true width is approximately 75% of the channel length |
| *** |
The true width is approximately 90% of the core length |
| NSV: |
Non significant value |
Mapping results
The East strip zone covering an area of 10 x 25 metres is located over the West dyke of the main dyke swarm adjacent to the west of the former Beliveau mine surface opening while the West strip zone covering a surface of 50 x 60 metres is located 150 metres west of the opening and encompasses three gold zones and several dykes.
At least four generations of gold-bearing veins were identified on the strip zones. The first in importance is oriented E-W, the second N70° (essentially developed within the N-NW dykes), the third N40°, and the last N320°. The E-W and N320° veins systems seem to be synchronous and crosscut the N40° and N70° systems (N40° system being the earlier). The N40° veins system was not recognized until the Company performed mechanical stripping work. This latter vein system is likely to lead to new exploration targets.
Three generations of intrusions have been identified on the strip zones, ranging from intermediate to mafic in composition. The diorite dykes oriented N-NW have been cross-cut by a second set oriented N40° and finally by a third set without any preferential direction. All these intrusions host late stage gold-bearing veins and deformation.
Table 2: 2015 Channel sampling results
| Strip Zone |
Channel Line |
Length**
(metres) |
Grade*
g/t Au |
| East |
A-1 |
1.0 |
0.7 |
| |
A-2 |
1.0 |
0.6 |
| |
A-3 |
21.9 |
0.6 |
| |
Inc. |
5.8 |
1.2 |
| |
A-4 |
5.1 |
2.5 |
| |
Inc. |
2.4 |
5.1 |
| |
A-5 |
21.4 |
1.0 |
| |
Inc. |
2.2 |
4.1 |
| |
Inc. |
3.0 |
3.8 |
| |
A-6 |
2.2 |
0.5 |
| West |
C-1A |
9.4 |
0.9 |
| |
Inc. |
2.8 |
2.9 |
| |
C-1B |
0.8 |
0.5 |
| |
C-2 |
5.0 |
2.0 |
| |
C-3 |
25.7 |
4.6 |
| |
Inc. |
5.9 |
15.5 |
| |
Inc. |
5.0 |
4.3 |
| |
C-4A/B-14 |
4.5 |
0.7 |
| |
|
3.7 |
0.6 |
| |
|
0.7 |
0.9 |
| |
C-4B |
19.7 |
6.4 |
| |
Inc |
11.5 |
10.6 |
| |
C-5 |
13.9 |
7.6 |
| |
Inc. |
7.7 |
11.7 |
| |
C-6 |
18.3 |
2.3 |
| |
Inc. |
4.7 |
6.8 |
| |
C-7 |
8.0 |
0.7 |
| |
C-8 |
20.9 |
0.6 |
| |
Inc. |
3.0 |
1.0 |
| |
C-9 |
14.5 |
1.2 |
| |
Inc. |
2.9 |
4.8 |
| |
C-10/B-9 |
47.7 |
1.6 |
| |
Inc. |
4.0 |
3.3 |
| |
Inc. |
7.1 |
3.6 |
| |
Inc. |
11.5 |
3.1 |
| |
C-11 |
11.7 |
0.5 |
| |
C-12 |
7.0 |
0.5 |
| |
C-13 |
4.0 |
0.7 |
| |
C-14 |
1.0 |
0.8 |
| |
C-15 |
8.1 |
1.1 |
| |
C-16 |
3.0 |
0.5 |
| * |
Grade uncut |
| ** |
The true width is approximately 75% of the channel length |
Table 2: 2015 Channel sampling results
| Strip Zone |
Channel Line |
Length**
(metres) |
Grade*
g/t Au |
| West |
B-1 |
10.9 |
0.9 |
| |
B-2 |
3.6 |
0.5 |
| |
B-3 |
5.3 |
0.9 |
| |
B-4 |
2.9 |
0.5 |
| |
B-5 |
1.0 |
0.6 |
| |
B-6 |
NSV |
| |
B-7 |
1.2 |
0.5 |
| |
|
0.6 |
0.7 |
| |
B-8 |
18.3 |
0.6 |
| |
Inc. |
4.1 |
1.7 |
| |
B-10 |
5.1 |
3.8 |
| |
B-11 |
18.5 |
3.2 |
| |
Inc. |
5.6 |
8.5 |
| |
B-12 |
16.2 |
1.8 |
| |
Inc. |
6.2 |
4.3 |
| |
B-13 |
2.0 |
0.5 |
| |
B-15 |
4.3 |
1.3 |
| |
B-16 |
9.5 |
0.7 |
| |
Inc. |
2.0 |
3.1 |
| |
B-17 |
14.7 |
0.8 |
| |
Inc. |
2.0 |
4.0 |
| |
Inc. |
1.5 |
2.0 |
| |
B-18 |
5.2 |
1.8 |
| |
B-19 |
3.2 |
1.0 |
| * |
Grade uncut |
| ** |
The true width is approximately 75% of the channel length |
| NSV: |
Non significant value |
Quality control
Each channel sample is 4- to 8-cm thick by 7- to 13-cm deep and their average length is about 1 metre. The technical team did best effort to maintain constant volume of rock from a sample to another. Accurate 3D elevation terrain model and high-quality aerial ortho-photo data set recently acquired with a drone survey were used to plot all the samples. Channel samples were sent to AGAT Laboratory, a commercial laboratory. A strict QA/QC program was applied to all samples; which includes insertion of 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 materials. 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 (Metalic Sieve) were carried out on the samples which presented a great variation of their gold contents or the presence of visible gold.
Jules Riopel, Adventure Gold's Vice-president Exploration and Acquisitions acting as the qualified person (as defined by NI 43-101) reviewed and approved the scientific and technical information in this press release. He supervised the field exploration work program on the Project.
Profile
Since its listing on the TSX Venture Exchange in 2007, Adventure Gold focused on discovering and developing high-quality gold deposits in the Abitibi region located in eastern Canada - one of the richest gold mining areas in the world. Adventure Gold has become, in a few years, an important player in the mineral exploration industry with one of the best portfolios of exploration properties along the main gold-bearing structures of the Abitibi Greenstone Belt. The Company is exploring mainly close to gold mines where mining production infrastructure is already in place, which distinguishes it from several other exploration companies. Adventure Gold's exploration team consists of mining professionals having worked previously for well-established producing companies, who understand industry challenges. The Company owns 100% of the rights on its two main projects namely: Val-d'Or East (90km²; 770,000 ounces of gold at 2.6 g/t Au in Inferred resources of which 332,000 ounces at 2.4 g/t Au in-pit resources - January 2013, 43-101 technical report) and Detour Quebec (473km²; discovery stage project encompassing 80km of prospective land adjacent to Detour Gold Corp. properties). With 74M shares issued, 35 % owned by institutions, close to 10% owned by the management, no debt, core business mining titles in good standing and JV properties with gold producers in Timmins and in Val-d'Or, Adventure Gold is well-positioned to benefit its shareholders.
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.
Neither TSX Venture Exchange nor 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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