Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (7159)

6/26/2014 8:12:25 AM

From: Goose94

Read Replies (2) | Respond to of 202690

Adventure Gold (AGE-V) June 26, '14 is pleased to announce initial positive drilling results on its 100%-owned advanced-stage Val-d'Or East gold project (the "Project"). The new results come from the first three (3) drill holes for 552 metres from the 3,000-metre drill program underway (Figures 1 and 2). The first three (3) holes were designed to explore a parallel and vertical mineralized dioritic dyke partially drill tested historically, located 150 metres west of the main dyke hosting the gold mineralization at the former L.C. Beliveau gold mine. The drill program confirmed the presence of a significant gold system in this dyke and also outlined an additional mineralized dyke located 20 metres further to the west which consist of a new discovery on the Project. Best drilling intercepts, in core length, are presented below and in Table 1:

Hole PC-14-70: 12.4 g/t Au over 7 metres at 11 metres from the surface (B2 dyke); 2.6 g/t Au over 32 metres including 6.7 g/t Au over 6.5 metres at 142 metres from the surface (B1 dyke);

Hole PC-14-69: 6.0 g/t Au over 4 metres at 9.5 metres from the surface (ENE shallow dipping to the south gold zone); 2.3 g/t Au over 8 metres including 5.2 g/t Au over 3.5 metres at 61.5 metres from the surface (B1 dyke).

The gold-bearing zones are associated to a stacking of quartz-tourmaline veins shallowly-dipping to the south within vertical diorite dykes. Metric tourmalitization and pyritization is also observed from the margins of the veins inside the diotitic dykes. These dykes are varying from 5 to 8 metres in thickness and can be traced over a strike length of at least 150 metres oriented N340º. The mineralization is still open at depth and to the south (Figure 2). This gold-bearing system presents strong similarities with the one historically observed at the former L.C. Beliveau mine.

Additional drilling is required to evaluate adequately this gold system which the geometry seems be controlled by the presence of at least four (4) parallel and vertical dioritic dykes which are crosscut by an E-W brittle faulting system.

"We are very pleased with this discovery and the other initial results. The new zone grading 12.4 g/t Au over 7 metres is one of the richest gold intercept ever drilled on the property. We look forward to see the other drilling results coming," stated Marco Gagnon, President and CEO of Adventure Gold.

More results from the current drilling program are yet to come in the near-term.

Table 1:2014 Initial Drilling Result - Pascalis Colombiere Property


Drillhole	UTM coordonate *		Azimuth	Dip	Length	From	To	Core length**	Au ***	Note
	East	North	(º)	(º)	(m)	(m)	(m)	(m)	(g/t)	Zone

PC-14-69	312753	5335133	90	-83	129	9.5	13.5	4.0	6.0	ENE
						61.5	69.5	8.0	2.3	B1 Dyke
					Inc.	61.5	65.0	3.5	5.2
						117.0	119.5	2.5	2.0	ENE

PC-14-70	312735	5335163	90	-85	252	11.0	18.0	7.0	12.4	B2 Dyke
						80.6	88.6	8.0	1.9	ENE
						142.0	174.0	32.0	2.6	B1 Dyke
					Inc.	156.5	163.0	6.5	6.7
						222.0	225.0	3.0	2.0	ENE

PC-14-71	312767	5335062	90	-86	171	79.0	87.0	8.0	1.9	B1 Dyke
						133.0	136.0	3.0	2.3	ENE

* UTM NAD83Zone18
** The announced gold intersections are along the hole. Additional drilling will have to be done to determine the true thickness of the mineralized zones.
*** Uncut gold value.

Figure 1: Val-d'Or East - Pascalis property location map

Figure 2: Surface map - New Beliveau area initial results, 2014 drilling program

The Val-d'Or East Project:

The 100%-owned Project is located 25 kilometres East of Val-d'Or in the eastern portion of the Val-d'Or - Malartic gold district in the heart of the gold-rich Abitibi Greenstone Belt. The Project consists of 107 mining titles totaling 3,708 hectares located and it is also adjacent to the producing Beaufor Gold Mine held by Richmont Mines. The Project was the site of a profitable gold production from 1989 to 1993 when Cambior Inc. (currently IAMGOLD Corporation) mined the New Pascalis gold deposit (Lucien C. Beliveau Mine). In the recent years, 24,000 m of drilling was completed to delineate new gold resources. Best drill results show widths ranging from 60 metres to 300 metres with grades between 1-3 g/t Au. Higher grades zones grading up to 12.9 g/t Au over 8 metres, 4.8 g/t Au over 33.1 metres and 2.7 g/t Au over 65.1 metres. The 2013 Initial NI 43-101 resources estimate outlines: 770,000 ounces of gold at 2.63 g/t Au in the inferred category. In order to evaluate the open pit potential and the economics of the resources, a Whittle pit run was completed on the resources sitting between the surface and a depth of 225 metres. The total in-pit inferred resources are 4.34 Mt at 2.4 g/t Au containing 332,000 ounces of gold using a cut-off grade of 0.7 g/t Au. The underground potential below the Whittle Open Pit at 1.5 g/t Au cut-off grade is 3.91 Mt at 3.13 g/t Au containing 394,000 ounces of gold.

Quality control

During the ongoing drilling program, assay samples were taken from the NQ core and sawed in half, with one-half sent to Agat Laboratory, a commercial laboratory and the other half retained for future reference. 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-assayed 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.

Mr. Jules Riopel, Vice-President Exploration and Acquisitions of Adventure Gold acting as the qualified person (as defined by NI 43-101) reviewed and approved the scientific and technical information in this press release.