Sep 30 2014
Ginguro Exploration Inc. ("Ginguro" or the "Company") today released assay results from the Godzilla Zone on the Pardo Joint Venture ("JV") property, which is located approximately 65 km north-east of Sudbury, Ontario.
Assays have now been received for six additional channel samples taken at the recently discovered Godzilla Zone which previously returned an average of 5.2 grams per tonne (g/t) gold over 140 metres from Channel 14-34 (see press release dated Sept 2, 2014),. Channel 14-37, which was cut perpendicular to Channel 14-34, averaged 3.4 g/t gold over 25 metres. Channels 14-38, 14-40 and 14-41, which were shorter channels cut approximately 35 metres east of Channel 14-35 in an overlying conglomerate, averaged 0.1g/t gold over 4 metres, 0.7 g/t gold over 4 metres, and 0.7 g/t gold over 3 metres, respectively. Channel 14-39 was cut perpendicular to Channel 14-34 and averaged 0.7 g/t over 13.5 metres and Channel 14-42, which was cut sub parallel to Channel 14-34, averaged 0.7 g/t gold over 8 metres.
A total of 527 metres of channel sample were cut across the Godzilla Zone. Assay results for 236.5 metres of channel samples remain outstanding and are expected in the next few weeks. The exposed outcrop area that contains the Godzilla Zone mineralization measures 175 metres north-south by up to 125 metres east-west. The gold-bearing conglomerate sampled at the Godzilla Zone appears to have an average true thickness of approximately 4 metres.
Maps illustrating the geology and channel sample locations can be found on the Company's website at www.ginguro.com.
Field crews are continuing the work of exploring new target areas of the Pardo JV. The prospecting and geological work will continue throughout the fall as long as weather permits.
The known gold mineralization within the near surface basal conglomerate at Pardo now extends approximately 3 kilometres north-south by approximately 1.1 kilometres east-west.
Due to the near flat lying nature of the sedimentary strata, it is not always possible to cut samples across the gold-bearing strata. Samples are usually collected either parallel or perpendicular to the interpreted paleochannel direction. Therefore, the channel lengths reported in this release represent the gold distribution over the surface area sampled and do not represent true thicknesses of the mineralized unit.
Ginguro is the operator of the Pardo JV and holds a 64.5% ownership interest and Endurance Gold Corporation ("Endurance") owns a 35.5% ownership interest. Both Ginguro and Endurance are funding the 2014 program on a pro rata basis, based on ownership. As a result, it is anticipated that Ginguro's ownership interest in the Pardo JV will be unchanged at the completion of the current program.
Source: http://www.ginguro.com/