Meunier-144
The Meunier-144 property consists of 10 mining claims totalling 161 hectares and is located in an easily workable area in the western portion of the highly productive Timmins mining camp which has produced more than 70 million ounces of gold over the past 100 years (Source: GSC Website - World General Geoscience Database). The Property is contiguous to the western boundary of LSG's Timmins Mine property with a probable reserves of 812,000 ounces of gold (LSG NI-43-101 Oct 2009) and approximately 800m north west, at surface, from the Rusk Zone where LSG has reported drill intersections up to 11.5 g/t Au over 147.3m ( LSG - Press release March 4, 2011). The Property primarily covers a sequence of volcanic rocks located on the north side of the West Timmins sedimentary basin and along the west extension of the Bristol fault from the Timmins Mine and Thunder Creek properties where Lake Shore Gold Corp (LSG) is currently developing a potential large scale mining operation. The key initial target for exploration on the Property includes the downplunge extension of gold zones located at the Timmins Mine and Thunder Creek deposits including a pronounced "Fold nose" structure thought to control the bulk of gold mineralization at the Timmins Mine and where LSG recently announced discovery of a second fold nose and significant new gold intersections approximately 600 meters east of the boundary with the Property (LSG- Press Release February 18, 2010).
In May 2010, Adventure Gold announced that it has entered into an option agreement with RT Minerals Corp. (CSNX: RTM, "RTM") and Lake Shore Gold Corp. (TSX: LSG, "LSG") relating to the Meunier 144 property , presently under option by AGE from a group of local prospectors (the "Original Optionors") (see agreement details in AGE - Press Release May 6, 2010).
2009 Exploration:
The first drill program on Meunier-144, which consisted of three shallow holes designed to test five Induced Polarization (IP) anomalies, was completed during the summer 2009. One hole also tested the Bristol Fault rock package, a regionally extensive structure spatially related to the Timmins Mine gold deposit and associated with the Destor Porcupine Fault Zone. Drilling highlighted the presence of many quartz carbonate veins in mafic rocks associated with a major fault, which we interpreted as the South Bristol Fault rock package. Hole M-09-03 intersected the Bristol Fault and investigated 150 m of this favourable assemblage. Holes M-09-01 and M-09-02 tested IP anomalies which have been explained by the presence of disseminated and stringer sulfides inside mafic flow breccias.
Figure 1: Geological Map and 2009 Drilling
Figure 2: 2010-2011 Deep drilling target