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Analyst Note
By Éric Lemieux, MSc, P.Geo
Mining & Exploration Analytics
[email protected]
March 30, 2015
Adventure Gold Inc. (AGE-V)
Adventure to finally drill on the Québec Detour Trend
Event: Adventure commences an exploration program on its wholly owned properties along the Québec Detour
Gold Trend, notably a 1,500m drilling program.
Impact: Slightly Positive. Adventure finally set to embark on a drilling program on interesting targets within its
strategic acreage along the Sunday Lake and Lower Detour zones. Winter drilling program expected to be
completed in April 2015 as well as geophysical surveys.
Analysis
• On March 25, 2015, Adventure disclosed that it had commenced an exploration program on its wholly
owned properties along the Québec Detour Gold Trend, notably a 1,500m drilling program as well as line
cutting and geophysical surveys (120 line-km ground Magnetics and Induced Polarization). The Detour Gold
Trend Project consists of 869 claims and covers an area of 47,100ha (9 contiguous properties: Manthet,
Martigny, Martigny Extension, Massicotte, Casgrain, Casgrain Extension, Gaudet, Nantel and Sicotte) covering
acreage to the east of Detour Gold Corporation's 15.1M oz. Detour Lake gold mine (see Exhibits 1 and 2).
• Drilling to focus on gold zones associated with the Sunday/Detour Lake deformation corridor located
4km south of Balmoral Resource’s (BAR-T) Bug Lake high grade gold zone. This first phase winter drilling
program is expected to be completed in April 2015 and is Adventure’s first drilling program on its strategic
acreage. Gold-sulphide mineralization within these zones is hosted by a series of sericite, quartz and iron
carbonate shear zones which cut volcanic, sediment and feldspar porphyry dykes. Approx. 20 historic shallow
drill holes in these zones have returned weak gold intercepts with grade by thickness ranging from 1 to 15 g/t Au
x meters. We understand that 2 holes (475m-long) shall test the Sunday Lake deformation zone and that IP
anomalies shall also be tested 4km to the SE (see Exhibit 3).
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analysis herein reflect the views of the Analyst as at the date appearing above, and are subject to change without notice. The information contained in this document is
derived from sources we deem to be reliable, but cannot be guaranteed. PearTree Securities Inc. (“PT Securities”) and/or its affiliates and/or any of their respective
officers, directors, and representatives (collectively “PearTree”), shall not be held liable for any loss or damage resulting from the use of the information or the
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remuneration, participate in the financing of companies mentioned in this document. Peartree and members of their families may hold positions in the companies
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• We believe that Adventure’s acreage along the Québec Detour Trend is highly prospective. Recall that
Adventure is a mineral exploration company focused on discovering and developing high-quality gold deposits in
in the Abitibi proximal to gold mines where mining production infrastructure is already in place and holds a
portfolio of exploration properties along the main gold-bearing structures of the Abitibi Greenstone Belt, namely:
Val-d'Or East and the Québec Detour Gold Trend. Along the Québec Detour Gold Trend, Adventure Gold has
assembled 9 gold properties via map staking and agreements since 2009 and we continue to believe that these
properties are strategically located and could host gold mineralization similar to Detour Gold’s 58N gold zone.
• We continue to believe the Québec Detour Trend, located at the northern end of the prolific Abitibi
greenstone belt in Quebec, with over 16,000m of winter drilling could potentially arise as a hot-spot in
2015. The Grasset Ni-Cu discovery and the Martinière gold zones are advancing and Adventure Gold, Balmoral,
Xmet and Midland are conducting drilling programs and any success from one could radiate positively on to the
other (see January 26, 2015 Analyst Note). With important land positions along the Detour Gold Trend, we
believe Adventure Gold could muster positive results in this emerging polymetallic mineralized belt with results of
interest to the proximal mining operations at Casa Berardi of Hecla Mining and at Detour Lake Gold Mine. We
believe the area could attract potential quality partners and expect Balmoral Resources Inc. to start to disclose
first results of its important winter drilling program in the next few days.
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