Adventure Gold and GFK Resources Announce a 9,000-Metre Drilling Program on the Casa-Cameron Project, Quebec
03 3월 2014 - 10:00PM
Marketwired
Adventure Gold and GFK Resources Announce a 9,000-Metre Drilling
Program on the Casa-Cameron Project, Quebec
3,000-Metre phase 1 starts on Florence property
MONTREAL, QUEBEC--(Marketwired - Mar 3, 2014) - Adventure Gold
Inc. (TSX-VENTURE:AGE) and GFK Resources (TSX-VENTURE:GFK) announce
the beginning of the 2014 exploration diamond drilling program on
the Casa-Cameron project (the "Project"). The program will be
realized in three (3) phases totaling 9,000 metres of drilling, of
which Phase 1, for 3,000 metres will start this week on the
Florence property. The Project includes nine (9) properties (the
"Properties") strategically located along the prolific
Casa-Berardi/Cameron Gold Trend, in the Abitibi Greenstone Belt,
Quebec (Figure 1). Phase 2 and 3 drilling programs are slated to
start respectively in May and September on other properties of the
Casa-Cameron project.
The Florence property is located 23 kilometres north of the town
of Lebel-sur-Quevillon, about 70 kilometres east of the Sleeping
Giant mine and mill and about 60 kilometres southwest of the
Bachelor mine and mill. The property encompasses 14.5 km along the
Chieftain shear zone, which is a subsidiary fault of the
Casa-Berardi/Cameron gold deformation zone (Figure 2). The Phase 1
drilling program on the Florence property consists of 8 diamond
drill holes. Initial drilling is designed to test the Chieftain
gold deformation zone with 5 holes over a strike length of 1.5 km
between the surface and around 250 metres deep. Historical drilling
in this area returned up to 1 g/t Au over 26 metres, including 2.9
g/t Au over 3.9 metres and 1 g/t Au over 18.6 metres, including 2.8
g/t Au over 4.2 metres (holes CH-1 and G-91-7: GM55861). Also of
interest, the southeast extension of the Chieftain gold deformation
zone remained untested by drilling over a strike of seven
kilometres. This area shows historical showings and its potential
was enhanced by the discovery of a new gold showing by Adventure
Gold returning 7.0 g/t Au, 3.2 g/t Au, 0.7 g/t Au and 0.4 g/t Au in
grab samples. Three (3) holes will test induced polarization ("IP")
geophysical targets and the new gold showing in this area of the
property.
"Adventure Gold is very pleased to start its first drilling
program with GFK Resources to explore the Florence property. We
believe this initial drilling program will confirm the good
potential of the Florence property. Considering our quality
drilling targets, we look forward to see the results." stated Marco
Gagnon, President and CEO of Adventure Gold.
The Casa-Cameron
Project
The Casa Cameron Project includes nine (9) gold Properties: (1)
Casagosic, (2) KLM, (3) Vezza North, (4) Vezza Extension, (5)
Bell-Vezza, (6) Sinclair-Bruneau, (7) Florence, (8) Céré-113 and
(9) Bachelor Extension (Figure 1). The Properties are located north
of La Sarre, Amos and Lebel-sur-Quevillon, in the northwest region
of the province of Quebec and they are accessible all year long by
paved and gravel roads. GFK and AGE have an agreement pursuant to
which GFK has acquired the option to earn between 51% or 100%
interest in AGE's Casa-Cameron project covering an area of 222 km²
(see Press Release dated December 12th, 2013). Since the signing of
the agreement, 16 additional claims were acquired or map-staked and
are now part of the agreement.
The Properties straddle segment of the major
Casa-Berardi/Cameron gold break between the Casa-Berardi Gold Mine
(proven and probable reserves of 8.2 Mt at 5.5 g/t Au for 1.5M
ounces, measured and indicated resources of 11.0 Mt at 4.1 g/t Au
for 1.5M ounces and inferred resources of 4.8Mt at 3.8 g/t Au for
590,000 ounces - Hecla Mining (formerly Aurizon Mines), press
release, February 14, 2013) and the Bachelor Gold Mine (also
currently in operation by Metanor Resources with proven and
probable reserves of 843,800 t at 7.4 g/t Au for 200,200 ounces and
inferred resources of 426,100 t at 6.5 g/t Au for 89,400 ounces -
Metanor Resources, NI 43-101, April 26, 2011). All the Properties
contain already known gold-bearing zones and most of them are also
strategically located adjacent and on strike with significant gold
mines or deposits.
Very few modern exploration works were completed on the
Properties from the 1990's to 2008, prior their acquisition by
Adventure Gold. Gold exploration work conducted by Adventure Gold
since then returned very encouraging results and many valuable
drill targets were outlined (see the Company's press release dated
June 11, 2013 and the technical report (the "Report") filed by GFK
on SEDAR in connection with the transaction and prepared in
accordance with National Instrument 43-101 - Standards of
Disclosure for Mineral Projects ("NI 43-101")). As described in the
Report, the geological setting of the Casa-Cameron properties
appears to be very favorable for the identification of new
high-grade gold-bearing structures or bulk-style ore deposit. Past
exploration work did not entirely test the numerous gold
occurrences and many positive historical drilling intersections
warrant follow-up drilling. In addition, recent geophysical surveys
outlined also quality drilling targets. The authors of the Report
recommend significant exploration work including a 21,000-meter
drilling program (see the Report available on AGE's website).
"For GFK, the announcement of the 2014 drilling program on our
Casa-Cameron properties marks the beginning of a new phase of
activity. The Company has reviewed many possible property
opportunities over the past few years and has preserved its cash
position during this process. We are very excited with our new
relationship with Adventure Gold and the potential that brings to
the Company" remarked Patrick Fernet, CEO of GFK Resources Inc.
Mr. Jules Riopel, Vice-President Exploration and Acquisitions of
Adventure Gold and Denis Chenard, P.Eng. of GFK Resources act as
the qualified persons (as defined by NI 43-101) and have reviewed
and approved the scientific and technical information in this press
release. Adventure Gold will act as the field operator for all the
exploration work on the Casa-Cameron project during the first
option as per the agreement between AGE and GFK.
For more information, please see figures 1 and 2 at :
http://media3.marketwire.com/docs/Figure1Casa.jpg
http://media3.marketwire.com/docs/Figure2Florence.jpg
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
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. With 68.8M shares
issued and outstanding (71.7M 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 GagnonPresident &
CEOmarco@adventure-gold.com450.743.5527www.adventure-gold.comJules
RiopelVice-President Exploration and
Acquisitionsjules@adventure-gold.com819.797.9770
Adventure Gold Inc. (TSXV:AGE)
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