Adventure Gold Inc.: Adventure Gold Identifies a Significant Gold Structure on Senore
MONTREAL, QUEBEC--(Marketwire - Jan. 22, 2009) - Adventure Gold Inc. (TSX VENTURE:AGE) (the "Company"), is pleased to announce that the recent drill program on the Senore and Beaufor North properties has lead to the discovery of significant gold mineralization and the identification of a continuous gold system over more than 600 metres laterally and locally up to 350 metres in depth. The best drill intersections returned values of 8.6 g/t Au over 1.8 metres (drill hole SE-08-11) and 11.1 g/t Au over 0.9 metres (drill hole SE-08-12). The 100%-owned Beaufor North and Senore contiguous properties are located in the eastern region of the Val-d'Or mining camp in Quebec and are adjacent to the producing Beaufor Gold Mine operated jointly by Richmont Mines and Louvem Mines.
"The results from this first drill program on Senore confirm that this property has great potential for discovery just like the Beaufor North property, where a discovery was made in 2008. The intersected gold veins are typical of the gold veins which are currently being mined at the Beaufor Mine, located approximately 1 kilometre south of the Resenor deposit. The discovery of such continuous veins, which can be found over many hundreds of metres, is very encouraging," stated Marco Gagnon, President & CEO of Adventure Gold.
The results of the first six drill holes, for a total of 2,573 metres, are from the drill program completed last fall on the Beaufor North and Senore properties. Results from four drill holes totalling 1,999 metres are still pending. Additional drill holes will be required to verify the extensions of this gold-bearing system and will be proposed upon the completion of the analysis of all drill results. The first six drill holes were designed to test the extensions as well as the depth of the Resenor gold deposit (historical resources non NI 43-101 of 181 400 tonnes of 8.6 g/t Au: Assessment work, MRNF du Quebec #GM-41895) and the extensions to the west and at depth of the gold structures which returned values of 35.8 g/t Au over 0.5m and 6.6 g/t Au over 0.9 m intersected in the discovery hole BN-08-01 (see press release dated: Sept. 3, 2008). Table 1, located below, illustrates the technical parameters of the drill holes and their results. A figure identifying the drill hole locations and mineralization intersections can be found on the Company's website at [ www.adventure-gold.com ].
Mineralization observed in the gold-bearing veins of the Upper Resenor Zone (URZ) is comprised of white quartz and tourmaline containing variable quantities of pyrite clusters. The vein in the Lower Resenor Zone (LRZ) is comprised of greyish quartz containing tourmaline with variable quantities of pyrite, pyrrhotine and chalcopyrite. The thickness of the quartz veins in this system can reach over 3 metres. The veins are continuous within the deformation corridor where the thickness varies between 2 and 30 metres, oriented towards the north-west and on a 60º incline to the south-west. The geological context is similar to that of the Beaufor Mine gold system, which has produced over 990,000 ounces of gold (including the production from the Perron and Pascalis mines; Richmont Mines, 2008).
Table 1: Significant Drill Results on Resenor Gold System (fall 2008)
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Drill UTM UTM Length From Length Au
hole East North Azimut Dip (m) (m) (m)(i) (g/t) Zone
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SE-08-07 309989 5338360 34 -65 402 213.5 1.7 4.6 LRZ
Incl. 214.7 0.4 18.3
SE-08-08 309989 5338360 34 -52 345 153.0 1.6 0.2 URZ
SE-08-09 309989 5338360 34 -82 447 185.5 2.0 1.9 URZ
Incl. 186.6 0.3 12.5
SE-08-10 309667 5338394 32 -55 428 282.5 1.4 3.6 URZ
Incl. 283.0 0.4 12.0
SE-08-11 309615 5338337 32 -60 447 386.5 1.9 1.0 URZ
421.3 1.8 8.6 LRZ
Incl. 422.2 0.6 21.1
SE-08-12 309619 5338689 32 -55 504 98.3 3.2 4.1 URZ
Incl. 100.6 0.9 11.1
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(i) The length of the aforementioned gold intervals refers to the core axis
length. Additional drilling is required to establish the actual
thickness. According to geological interpretation, the actual thickness
of the gold intervals is evaluated at approximately 90% of the length
within the core axis for most of the drill holes with the exception of
drill hole SE-08-09, which is approximately 55%.
Quality control
Fieldwork on the Senore property was supervised by Jules Riopel, P.Geo and Vice-President Exploration and Acquisitions of Adventure Gold, who acts as the Company's Qualified Person, as defined by National Instrument 43-101. Assay samples are taken from the NQ core and sawed in half; with one-half sent to ALS Chemex of Val d'Or, QC, a commercial laboratory for analysis and the other half retained for future reference. A strict QA/QC program is applied to all drill core samples; which includes mineralized standards and blank samples for each batch of 25 samples. Samples are fire-assayed with an atomic absorption finish. Repeats are carried out by fire-assay followed by gravimetry on each sample containing 3 g/t Au or more.
Profile:
Adventure Gold Inc. is a mining exploration company focused on discovering high quality gold deposits in the Abitibi greenstone belt located in north-west Quebec and north-east Ontario - one of the richest gold deposit areas in the world. Adventure Gold holds quality assets in the Val-d'Or, Quebec and Timmins, Ontario areas and is lead by highly motivated management and technical teams with extensive exploration and mine production experience. The Company will be active in 2009 with $1,150,000 slated for exploration in the Val-d'Or and Timmins regions and will continue to aggressively seek new properties in compliance with the corporate strategy.
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.