Adventure Gold Provides Update on its Exploration Activities: Detour Quebec, Casa-Cameron and Val-d'Or East Projects
Published : June 11, 2013
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

MONTREAL, QUEBEC--(Marketwired - June 11, 2013) - Adventure Gold Inc. (News - Market indicators) (the "Company") is pleased to report new results of the on-going 2013 exploration program on its 100%-owned Detour Quebec and Casa-Cameron projects situated respectively along the Detour Gold Trend ("DGT") and the Casa Berardi-Cameron Gold Trend ("CBCGT") in Abitibi, Quebec. The Company also wishes to provide an update on its recent activities on the wholly-owned Val-d'Or East project which encompasses the Pascalis-Colombiere property where an initial resource calculation outlined 9.13 Mt at 2.63 g/t containing 770,000 gold ounces in the inferred resource category (SGS Canada Inc., NI 43-101 Technical Report Mineral Resource Val-d'Or East Property filed on Jan. 4th, 2013).

The latest exploration work has consisted of helicopter-borne and ground geophysical surveys on the best areas previously targeted on the Detour Quebec and Casa-Cameron projects. A total of 618 line-kilometers of helicopter-borne electromagnetic VTEM-type survey ("VTEM"), 50 line-kilometers of Induced Polarization ("IP") survey and 265 line-kilometres of detailed ground magnetic survey have been completed on both projects since the beginning of 2013 (see Figure 1 and 2 on AGE's website). This work has led to the identification of many new promising gold drilling targets within the favorable geological environment outlined by Adventure Gold's previous exploration work and along strike of the proven gold bearing deformation zones. Results of the new IP and VTEM surveys are presented on Figure 3 to 7 on AGE's website. Also of interest, Detour Gold Corp. continues to explore aggressively its large land holdings with an on-going 25,000-meter exploration drilling program as they have recognized that the Lower Detour Deformation Zone ("LDDZ") has many similarities with the Sunday Lake Deformation Zone situated 5 km to the North which host the Detour Lake Mine. As seen on Figure 1, the LDDZ major structural break is mainly controlled by Adventure Gold on the Quebec side and remains largely underexplored. Additional work will be completed during this summer including a 75-kilometre long ground magnetic survey on properties along the Detour Gold Trend as well as follow-up field work and drilling target generation on the Casa-Cameron project. All properties for both projects are in good standing and the Company does not currently intend to let any of the mining claims covering 600km² of very prospective Abitibi geology lapse. 

Additionally, Adventure Gold is currently evaluating different scenarios regarding its wholly-owned Val-d'Or East flagship project (Pascalis-Colombiere property). Based on the 770,000 gold ounces resource estimate, which includes an in-pit inferred resource of 330,000 ounces of gold at a grade of 2.4 g/t gold, Adventure Gold has proceeded to an internal economic model calculation. Results of the model appear to be positive for the outlined in-pit resource and are helping the management of the Company to elect which exploration and development strategies are the most favorable to fully deliver on the value of the asset. To date, it is premature to conclude which scenario is optimal however, in most scenarios, additional drilling within and around the projected pit to firm up and potentially increase the current gold resource is scheduled for this fall. Considering the strategic location and the geometry of the New Beliveau Gold Deposit, where most of the in-pit resource is outlined, the management of the Company believes that this gold resource is well positioned to be a low-cost producing gold mine in the near future.

"Adventure Gold is a well-established mining exploration company with a balance sheet capable of moving its projects forward. We explore in a favorable mining environment, we have valuable mining assets and we recently made a significant gold discovery. Coupled with our strong management team and very supportive major shareholders base, we strongly believe that the ingredients are in place to reward our shareholders" stated Marco Gagnon, President and CEO of Adventure Gold Inc.

For more information about the Company's activities and expenditures, please look at our financial statement and management's discussion and analysis available on our website. Documents for the quarter ended April 31th will be filed on the last week of this month.

For more information on the Detour Quebec and Casa-Cameron properties new results, please see Figure 1 to 7 and visit our website at www.adventure-gold.com:

http://www.adventure-gold.com/common/documents/Fig1_Detour_allAGEProp_Travaux2013_4juin2013.pdf

http://www.adventure-gold.com/common/documents/Fig2_Casa_allAGEProp_Travaux2013_4juin2013.pdf

http://www.adventure-gold.com/common/documents/Fig3_Massicotte_IP_4juin2013.pdf

http://www.adventure-gold.com/common/documents/Fig4_Manthet_Martigny_VTEM_4juin2013.pdf

http://www.adventure-gold.com/common/documents/Fig5_Nantel_IP_4juin2013.pdf

http://www.adventure-gold.com/common/documents/Fig6_Casagosic_IP_4juin2013.pdf

http://www.adventure-gold.com/common/documents/Fig7_VezzaExt_BellVezza_IP_4juin2013.pdf

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 supervised the exploration program on the projects.

Profile

Adventure Gold Inc. is a mineral exploration company 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 three main projects namely: Val-d'Or East, Detour Quebec, and Casa-Cameron. The Val-d'Or East flagship project encompasses the 100%-owned Pascalis-Colombiere property where Cambior Inc. (now IAMGOLD) produced gold between 1989 and 1993 at the Beliveau Mine. Close to the former mine, Adventure Gold recently discovered a significant new gold system containing 770,000 gold ounces at 2.63 g/t in the inferred resource category (SGS Canada Inc., NI 43-101 Technical Report Mineral Resource Val-d'Or East Property filed on Jan. 4th, 2013) and is actively working on its development. As of today, the Company owns more than $2.3M in cash and tax credits. With 68M shares issued and outstanding (72.7M shares on a fully-diluted basis) and 10% owned by the management, 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.

Marco Gagnon
President & CEO
450.743.5527
marco@adventure-gold.com
or
Jules Riopel
Vice-President Exploration and Acquisitions
819.797.9770
jules@adventure-gold.com
www.adventure-gold.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Adventure Gold

EXPLORATION STAGE
CODE : AGE.V
ISIN : CA00766R1047
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Adventure Gold is a gold exploration company based in Canada.

Adventure Gold holds various exploration projects in Canada.

Its main exploration properties are MEUNIER-144, PASCALIS-COLOMBIÈRE, DUBUISSON PROPERTY, LAPASKA and BEAUFOR WEST AND NORTH in Canada.

Adventure Gold is listed in Canada. Its market capitalisation is CA$ 25.7 millions as of today (US$ 19.8 millions, € 17.4 millions).

Its stock quote reached its lowest recent point on November 14, 2008 at CA$ 0.05, and its highest recent level on February 18, 2011 at CA$ 0.80.

Adventure Gold has 80 200 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Nominations of Adventure Gold
10/29/2012Two Members of the Board of Directors of Adventure Gold Incr...
12/9/2010Appoints Robert Boisjoli as New CFO and Amends its Stock Opt...
Project news of Adventure Gold
1/27/2016Adventure Gold and SOQUEM commence a first drilling program ...
6/30/2015Adventure Gold completes mechanical stripping and drone surv...
1/19/2012RECENT ANALYST COVERAGE - Speculative Buy with a one-year sh...
9/13/2011DISCOVERS BELIVEAU GOLD MINE EXTENSIONS TO 900 METRES DEPTH
2/26/2009(Beaufor West And North)Adventure Gold Discovers New Gold Structure
Corporate news of Adventure Gold
7/4/2016Probe Metals Completes Acquisition of Adventure Gold; Closes...
7/4/2016Shareholders of Adventure Gold and Superior Court of Québec ...
6/13/2016TSX Venture Exchange Daily Bulletins
6/10/2016Probe Metals Completes Acquisition of Adventure Gold; Closes...
6/10/2016Probe Metals Completes Acquisition of Adventure Gold; Closes...
6/6/2016Shareholders of Adventure Gold and Superior Court of Quebec ...
6/6/2016Shareholders of Adventure Gold and Superior Court of Quebec ...
6/6/2016Shareholders of Adventure Gold and Superior Court of Quebec ...
6/6/2016/C O R R E C T I O N from Source -- Investment Industry Regu...
5/11/2016Adventure Gold files information circular seeking shareholde...
5/11/2016Adventure Gold Files Information Circular Seeking Shareholde...
4/7/2016Probe Metals and Adventure Gold to combine creating a well-f...
4/7/2016IIROC Trading Resumption - PRB; AGE
4/7/2016Probe Metals and Adventure Gold to Combine Creating a Well-F...
4/7/2016IIROC Trading Halt - AGE
2/4/2016Adventure Gold Commences a New Drilling Program on Its 100%-...
1/27/2016Adventure Gold and SOQUEM Commence a First Drilling Program ...
11/24/2015Adventure Gold closes $725,025 private placement.
11/24/2015Adventure Gold Closes $725,025 Private Placement
10/7/2015Adventure Gold Options a Part of Its Detour Quebec Project t...
8/19/2015Adventure Gold Cuts 10.6 g/t Au Over 11.5 Metres in Channel ...
6/29/2015Adventure Gold Completes Mechanical Stripping and Drone Surv...
3/25/2015Adventure Gold commences drill testing of its Detour Quebec ...
3/19/2015Adventure Gold Announces the Grant of Options
3/19/2015Adventure Gold announces the grant of options.
6/11/2013Provides Update on its Exploration Activities: Detour Quebec...
1/7/2013NI 43-101 Technical Report for The Val-d'Or East Gold Projec...
11/14/2012Defines Quality Drill Targets and Starts New Geophysical Sur...
9/20/2012Continues to Extend the Beliveau West Gold Zones and Drills ...
9/13/2012Doubles its Land Position in the Val-D'Or East Area, Abitibi...
4/19/2012DOUBLES ITS LANDS POSITION ALONG 80 KM OF THE DETOUR GOLD T...
12/1/2011(Lapaska)AND MAZORRO RESOURCES INTERSECT 60.6 METRES OF 3.1 G/T AU AT...
6/23/2011Announces Option Agreement With Mazorro Resources for its Da...
6/16/2011(Lapaska)and Mazorro Resources Report 1.2 g/t Au Over 156.9 Metres on...
5/31/2011Continues to Make Significant Gold Discoveries at the Past P...
4/19/2011(AGE:TSX-V) - Recent interview in the Gold Report
4/7/2011Intersects 12.9 g/t Au Over 8 Metres at Pascalis Colombiere ...
3/3/2011Intersects 5.4 g/t Au Over 20 Metres on Its Pascalis Colombi...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (AGE.V)
0.320+3.23%
TSX-V
CA$ 0.320
06/03 15:49 0.010
3.23%
Prev close Open
0.310 0.310
Low High
0.310 0.320
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.320 -%
Volume 1 month var.
57,505 -%
24hGold TrendPower© : 22
Produces
Develops
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.54-2.14%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 11.46-6.22%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.54+2.68%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.65+0.38%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 15.72-4.61%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.26+4.08%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.23+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.74-8.42%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 51.18-3.58%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :