OTTAWA, ONTARIO--(Marketwire - Jan. 23, 2012) - Mazorro Resources Inc. ("Mazorro" or the "Company") (TSX VENTURE:MZO)(FRANKFURT:JAM) and Adventure Gold Inc. (TSX VENTURE:AGE) are pleased to announce the start of the phase 3 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, totalling 352 hectares, is wholly-owned by AGE and under option to MZO (see press release dated December 15, 2010).
The phase 3 drill program, totaling approximately 2,000 metres is designed to test the Lapaska Central Zone ("LC Zone") near surface extensions and to highlight the bulk tonnage potential. Last year, significant results from the phase 1 and 2 drilling programs highlighted gold intersections of 1.0 g/t Au over 103.4 metres, 1.2 g/t Au over 156.9 metres and 3.1 g/t Au over 60.6 metres (holes LP-11-16, LP-11-17 and LP-11-25; see press releases dated June 16, 2011 and December 1, 2011). The LC Zone remains open laterally and at depth.
Final Results Phase 2 Drilling
The second phase drill program, completed recently during December 2011, was designed to test the extensions of the LC zone laterally and to the North, the West Zone and several new targets. Results of the first four holes of the phase 2 program were released on December 1, 2011. Assay results are pending for the balance of phase 2 holes and final results will be released as soon as possible.
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, September 2008). The Property contains three significant gold-bearing zones: the Lapaska Central, West and Lourmet zones and is also strategically located along the prolific Cadillac Larder Lake Gold Break, a regionally extensive structure that is spatially related to numerous gold mines. Five drill holes completed last year in the Lapaska Central zone have shown widths of up to 200 metres and grades ranging between 0.5 g/t and 1.2 g/t. An update of the 2010 43-101 resource calculation is scheduled for early 2013.
Jules Riopel, P.Geo., Vice-President Exploration and Acquisitions of Adventure Gold Inc., acts as the "Qualified Person" as defined by NI 43-101 for the Lapaska Property and has reviewed this press release and has supervised the phase 2 drilling program and will supervise the phase 3 drilling program.
About Mazorro
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 47,364,773 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.
Contact Information:
President & CEO
(613) 238-1556
dean@mazorro.com