OTTAWA, ONTARIO--(Marketwire - Dec. 1, 2011) - Mazorro Resources Inc. (TSX VENTURE:MZO)(FRANKFURT:JAM) ("MZO" or "Mazorro") and Adventure Gold (TSX VENTURE:AGE) ("AGE") are pleased to announce initial assay results from the Phase 2 surface diamond drilling program on the Lapaska Gold Property (the "Property") located in the prolific Abitibi Greenstone Belt, 20 km east of Val d'Or, Quebec. The Property, totaling 352 hectares, is wholly-owned by AGE and under option to MZO (see press release dated December 15, 2010). The initial Phase 2 results come from four (4) holes drilled in the Lapaska Central zone ("LC Zone") with the best intercepts, in core length, yielding:
-- Hole LP-11-27: 3.1 g/t Au over 60.6 metres, including a section grading
7.4 g/t Au over 11.8 metres at a depth of 70.7 metres;
-- Hole LP-11-25: 1.2 g/t Au over 43.2 metres, including a section grading
4.8 g/t Au over 5.5 metres at a depth of 35.1 metres; and
-- Hole LP-11-24: 1.0 g/t Au over 65.6 metres, including a section grading
8.8 g/t Au over 4.4 metres at depth of 271.8 metres within a gold halo
of 0.6 g/t Au over 144 metres.
The second phase drill program, totaling approximately 4,000 metres in ten (10) holes, is designed to test the extensions of the LC Zone laterally and to the North, the West Zone and several new targets. The drilling program is still in progress and should be completed by mid December.
Dean Hanisch, President and CEO of Mazorro Resources Inc., commented, "We are extremely pleased with the initial assays in the Phase 2 drill program as expectations continue to be exceeded with higher grade results over significant intervals within our bulk tonnage Lapaska project."
Gold mineralization intersected in Phase 2 drill holes is typical of the LC Zone geological environment. In drill core, visible gold was locally observed but generally the mineralization consists of disseminated pyrite in quartz-tourmaline veins and in altered host rocks. Table 1 shows all the significant results from the first four drill holes. A surface map view (Figure 1) shows the location of drill holes at the property and at the LC Zone scales. Figure 2 shows the location of the best new results on the longitudinal section. Holes 25 and 27, drilled north of the longitudinal section, did not fully crosscut all of the gold mineralization as they finished in a historical underground ramp. Two subsequent Phase 2 holes will be completed shortly to evaluate this area in detail.
Table 1: First set of results from the Phase 2 Lapaska drilling program.
Drill hole UTM UTM Azimuth Dip Length From To Core Au (ii)
East North (m) (m) (m) length(i) (g/t)
LP-11-24 312315 5325962 278 -57 444 175.7 319.9 144.2 0.6
Incl. 234.9 300.5 65.6 1.0
Incl. 271.8 276.2 4.4 8.8
LP-11-25 312055 5326017 279 -53 77 22.5 65.7 43.2 1.2
Incl. 35.1 40.6 5.5 4.8
LP-11-26 311792 5326061 279 -53 204 NSV
LP-11-27 312024 5326035 278 -50 85 24.4 85.0 60.6 3.1
Incl. 70.7 82.5 11.8 7.4
(i) The length of the gold intervals mentioned above refers to the length in
the axis of drilling. The veins are usually cross referenced with a strong
angle by the holes for drilling. This indicates that the length of the
mineralized intervals is close to the actual thickness of the zones.
However, additional drilling will be necessary to assess their lateral
(ii) Uncut gold value.
The Lapaska Property
The Property is favourably located between the past producing gold deposit Sigma II to the east (161,300 ounces at 2.7 g/t Au: MRNF - SIGEOM Database) which was operated by open pit method and the Simkar gold deposit to the west (NI 43-101 inferred resource of 105,000 oz at 5.3 g/t Au: Megastar
Jules Riopel, P.Geo., Vice-President Exploration and Acquisitions of Adventure Gold Inc. is acting as the "Qualified Person" as defined by NI 43-101 and has reviewed this press release and has supervised the drilling program. Assay samples were taken from NQ core sawed in half, with one half sent to AGAT Laboratories in Mississauga, Ontario, a commercial laboratory, and the other half retained for future reference. A strict QA/QC program was applied to all samples, which included mineralized standards and blank samples for each batch of 25 samples. The gold analyses were completed by fire assay with an atomic absorption finish on 50 grams of material. 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 (Metallic Sieve) were carried out on samples that showed a great variation in gold content.
Figuery, Quebec Property Option Agreement
Mazorro also announces that it has provided notice of termination to Pershimco Resources Inc. with respect to the Figuery property option agreement. The termination of the Figuery, Quebec property option agreement allows Mazorro to focus its financial and other resources on the Lapaska property.
Mazorro Resources Inc. is a TSX Venture listed Canadian based precious metals exploration company that is active in creating value through exploration and development of bulk tonnage and high-grade gold deposits within Canada's Abitibi Gold district. Mazorro has 45,367,107 common shares outstanding.
Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential mineralization) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, changes in world gold markets or markets for other commodities, and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.Neither the TSX Venture Exchange or 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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