Welcome!

News Feed Item

Ginguro Provides Update on Pardo JV Exploration

SUDBURY, ONTARIO -- (Marketwired) -- 07/21/14 -- Ginguro Exploration Inc. (TSX VENTURE: GEG) (the "Company" or "GEG") is pleased to provide an update on exploration activities underway at the Company's Pardo JV property, located approximately 65 km northeast of Sudbury, Ontario.

Exploration on the Pardo JV is advancing very well. The program of prospecting, stripping, washing and channel sampling new areas has advanced beyond expectations, with promising new areas being uncovered weekly. Diamond drilling in support of the gold study is near completion. The large diameter hammer drill hole component of the gold study will start within days, and the radon gas survey, which was designed to identify buried gold mineralization and is discussed further below, is also near completion.

Sampling Progress and New Results

Assays have been returned from six separate channels cut across the stripped outcrop in the middle block of the Eastern Reef. A summary of length-weighted averages is as follows:


Table 1: Eastern Reef Middle Block
Length-weighted average sample assays
                                                     Au
Channel #                 Length (m)               (g/t)       Total samples
CH-14-04                          18                 1.1                  36
CH-14-05                         6.5                 1.2                  13
CH-14-06                         2.5                 0.4                   5
CH-14-07                           7                 0.6                  14
CH-14-08                         7.5                 4.6                  15
CH-13-117                         16                 0.2                  32

A new area of surface mineralization named the 1214/Trench 2 Connection area has been uncovered between the Eastern Reef and the previously uncovered Trench 2 area. Assays for five channels cut across the 1214/Trench 2 Connection area have been received. Six additional channels remain with assays pending. A summary of length weighted averages for the first 5 channels is as follows:


Table 2: 1214/Trench2 Connection Area
Length-weighted average sample assays
                                                     Au
Channel #                 Length (m)               (g/t)       Total samples
CH-14-01                        28.5                 0.3                  57
CH-14-02                        28.5                 0.7                  57
CH-14-03                        14.5                 0.4                  29
CH-14-09                          15                 0.1                  30
CH-14-010                         20                 2.2                  40

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. The gold-bearing conglomerate on the Eastern Reef has a true thickness of approximately 6 metres. The gold bearing conglomerate at the 1214/Trench 2 area is estimated to be 3 to 5 metres thick.

In addition to these areas, channel samples have been taken at the 007 South Extension and the Western Reef Extension. At the 007 South Extension, three short channels totaling 6.5 meters in length have been cut and assays are pending. This new area was initially tested with nine grab samples that retuned gold grades ranging from trace to 117 g/t and averaging 18.0 g/t.

At the Western Reef Extension located 2 km southwest of the Eastern Reef, 11 channels totaling 119 metres have been cut. All assays for these samples are pending. Initial grab samples from this new area yielded up to 3.9 g/t gold (see Company's press release dated June 23, 2014).

A map showing the location of the gold zones and sample locations is posted on the company's web site at www.ginguro.com.

Prospecting with the intention of locating new areas of surface gold mineralization is ongoing. Once an area is identified, it is opened up for thorough channel sampling. The Company will provide updates on this work as the results are returned over the coming weeks and months.

Drilling

To date, 17 short diamond drill holes have been completed. Of these holes, 11 have been logged and 250 samples taken for assay. All of these assays are pending. The remaining 6 holes will be sampled in the coming days. Further diamond drilling in support of the ongoing gold study will be completed in the coming days.

The hammer drilling component of the gold study is presently starting. This drilling involves using a percussion rig to drill larger diameter holes and will take place mainly on the 007 Zone and the Eastern Reef. The gold study is being conducted under the direction of Mr. Jim Tilsley, a recognized expert in determining best sampling protocols for gold resource estimation. The results of this work will provide important parameters for planning future resource drilling.

Radon Gas Survey

A radon gas survey designed to identify areas of buried heavy mineral concentrates that include both gold and minor uranium minerals is near completion, final results will follow shortly thereafter. Preliminary results are encouraging, and show not only correlation with known gold zones but also new areas of anomalous radon gas concentration. These anomalies will be prioritized in due course for follow up as part of the current program.

Commenting on the ongoing work at the Pardo JV, President and CEO Richard Murphy stated, "The results to date represent important incremental expansions on the gold zones outlined previously. Pardo keeps getting bigger, better and more exciting. The guys in the field have the opportunity to make a major discovery every day they are there."

Ginguro currently holds a 64.5% ownership interest in the Pardo JV. Endurance Gold Corporation owns a 35.5% interest in the JV. Both Ginguro and Endurance are funding the current 2014 program on a pro rata basis. As such, it is anticipated that Ginguro's ownership percentage will remain unchanged following the end of the current program.

About Ginguro

Ginguro Exploration Inc. is a mineral exploration company focused on the advancement of its Pardo paleo-placer gold property, located in Pardo Township in northern Ontario. To learn more about Ginguro Exploration Inc., please visit: www.ginguro.com.

The Qualified Person responsible for the geological technical content of this news release is Richard Murphy, P.Geo, President and CEO of Ginguro Exploration Inc.

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" in the Corporation's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Corporation does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

The grab samples are transported in security sealed bags for preparation at AGAT Prep Lab located in Sudbury, Ontario. Prepped samples are shipped for analysis to the AGAT Assay Laboratory in Mississauga, Ontario. AGAT Laboratories Ltd. is an ISO 17025 registered laboratory. Samples are analyzed by industry standard 50 gram fire assay fusion with atomic absorption spectroscopy (AAS) finish, and a gravimetric finish on samples exceeding 10 g/t gold. The channel samples were assayed using a modified pulp metallic assay procedure. The entire sample was crushed and pulverized to 85% passing 100 mesh. The +100 mesh material was fluxed and assayed in its entirety, while two 50 g aliquots of the -100 mesh undersize pulp were cut out and fire assayed. Results were reported as a weighted average of gold in the three fractions. The Company inserts a certified reference standard or an analytical blank in every batch of 20 samples. Validation parameters are established in the database to ensure quality control.

Neither TSX Venture Exchange nor 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
SYS-CON Events announced today the Docker Meets Kubernetes – Intro into the Kubernetes World, being held June 9, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Register for 'Docker Meets Kubernetes Workshop' Here! This workshop led by Sebastian Scheele, co-founder of Loodse, introduces participants to Kubernetes (container orchestration). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, participants learn ...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, will explore the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences betwee...
SYS-CON Events announced today that 24Notion has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. 24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to con...
In his session at 18th Cloud Expo, Andrew Cole, Director of Solutions Engineering at Peak 10, will discuss how the newest technology advances are reducing the cost and complexity of traditional business continuity and disaster recovery solutions. Attendees will: Learn why having a full disaster recovery strategy is more important now than ever before Explore the key drivers of a successful disaster recovery solution Achieve measurable operational and business value from a disaster recovery ...
The initial debate is over: Any enterprise with a serious commitment to IT is migrating to the cloud. But things are not so simple. There is a complex mix of on-premises, colocated, and public-cloud deployments. In this power panel at 18th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists will look at the present state of cloud from the C-level view, and how great companies and rock star executives can use cloud computing to meet their most ambitious and disruptive business ...
SYS-CON Events announced today that Hanu Software will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Leveraging best-in-class people, processes, and technologies, Hanu provides high-quality, high-value software development and business process outsourcing services to independent software vendors (ISVs) and enterprises.
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...
As cloud and storage projections continue to rise, the number of organizations moving to the cloud is escalating and it is clear cloud storage is here to stay. However, is it secure? Data is the lifeblood for government entities, countries, cloud service providers and enterprises alike and losing or exposing that data can have disastrous results. There are new concepts for data storage on the horizon that will deliver secure solutions for storing and moving sensitive data around the world. ...
Korean Broadcasting System (KBS) will feature the upcoming 18th Cloud Expo | @ThingsExpo in a New York news documentary about the "New IT for the Future." The documentary will cover how big companies are transmitting or adopting the new IT for the future and will be filmed on the expo floor between June 7-June 9, 2016, at the Javits Center in New York City, New York. KBS has long been a leader in the development of the broadcasting culture of Korea. As the key public service broadcaster of Korea...