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.

Contacts:
Ginguro Exploration Inc.
Richard Murphy
President and CEO
(705) 222-8800
[email protected]
www.ginguro.com

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
"Digital transformation - what we knew about it in the past has been redefined. Automation is going to play such a huge role in that because the culture, the technology, and the business operations are being shifted now," stated Brian Boeggeman, VP of Alliances & Partnerships at Ayehu, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
The past few years have brought a sea change in the way applications are architected, developed, and consumed—increasing both the complexity of testing and the business impact of software failures. How can software testing professionals keep pace with modern application delivery, given the trends that impact both architectures (cloud, microservices, and APIs) and processes (DevOps, agile, and continuous delivery)? This is where continuous testing comes in. D
"WineSOFT is a software company making proxy server software, which is widely used in the telecommunication industry or the content delivery networks or e-commerce," explained Jonathan Ahn, COO of WineSOFT, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
Sanjeev Sharma Joins June 5-7, 2018 @DevOpsSummit at @Cloud Expo New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
Digital Transformation (DX) is not a "one-size-fits all" strategy. Each organization needs to develop its own unique, long-term DX plan. It must do so by realizing that we now live in a data-driven age, and that technologies such as Cloud Computing, Big Data, the IoT, Cognitive Computing, and Blockchain are only tools. In her general session at 21st Cloud Expo, Rebecca Wanta explained how the strategy must focus on DX and include a commitment from top management to create great IT jobs, monitor ...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...