Adventure Gold Inc., a mining exploration company with strategic properties in the Val d’Or region of Quebec, is pleased to announce the start of an eight-hole drill program totalling 2,500 metres on the Beaufor North and Senore properties. These properties are adjacent to the producing Beaufor Gold Mine operated jointly by Richmont Mines and Louvem Mines.
This drill program will test the near surface extensions of the new discovery made last spring on Beaufor North and located 1 kilometre north of the Beaufor Mine; where hole BN-08-01 intersected two gold structures returning values of 35.8 g/t Au over 0.5m and 6.6 g/t Au over 0.9m. This program will also test the extensions of the Resenor gold deposit (non NI 43-101 compliant historical gold resource of 181,400 tonnes at 8.6 g/t: Quebec Government Assessment File # GM-41895) on the Senore property, acquired last July by the Company. The gold-bearing quartz-tourmaline veins observed at Resenor and in the hole BN-08-01 are hosted in sheared diorite dykes and crosscut the altered and sheared Bourlamaque granodiorite near the contact with the volcanic rocks. This environment is similar to the Beaufor Mine mineralized system which produced more than 990 000 ounces of gold (Richmont Mines, 2008; including the production of Pascalis and Perron mines).
The current market conditions are affecting all stocks and as a result, the Adventure Gold share price is undervalued. “Our fundamentals remain sound, and our successful drill results indicate that our exploration team is working hard to create value for our shareholders. It is during these market downturns that investors have an excellent opportunity to buy undervalued stocks. We will continue to announce results from our on-going drill program and we plan to release our resource calculations before year-end,” states Marco Gagnon, CEO of Adventure Gold.
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.