Gondwana Gold update on 2012 exploration
29 August 2012 - 2:00PM
PR Newswire (Canada)
Gold bearing quartz stockwork and veins intersected in drilling at
Dianvour Property TORONTO, Aug. 29, 2012 /CNW Telbec/ - Gondwana
Gold Inc. today provided an update on its 2012 exploration program
in Burkina Faso. Work is being carried out on two properties,
Dianvour and Ouaraba. Both properties are easily accessible
by paved road from the capital of Burkina Faso, Ouagadougou, and
situated in southwest Burkina Faso, within the Birimian Boromo
Greenstone Belt hosting the Kalsaka and Poura gold mines. This belt
has been receiving more attention recently with major mining
companies such as Newmont, Volta and Ampella, actively engaged in
exploration. Update highlights: -- 3,346 meters of trenching has
been completed, showing an intersection 8.98 g/t over 8 meters, --
10,173 of RC drilling on two properties showing continuity of
quarts stockwork formation, -- Landsat imagery and lithostructural
analysis study done by Effigis Geo Solutions, showing potential
extension over several hundreds of meters. Although field based
work was completed during the second quarter on both Dianvour and
Ouaraba properties, only those laboratory analysis for the Dianvour
property have been received. Laboratory results for Ouaraba are
anticipated in late September of 2012. Dianvour Property From
inception some 608 soil geochemical samples, 79 termite mounds, and
90 pits, have been taken from Dianvour and sent for analysis.
In addition, some 2,036 meters of trenching have been performed
from which 1,188 trenches samples have been sent for analysis.
Average trench depth was around 2.5 meters to reach the saprolitic
horizon. This initial exploration program was followed by 5,273
meters of reverse circulation drilling comprising 64 holes on the
Memer and Lopal prospects which are located on the northern part of
the property. The drill program started on May 12th and ended in
early June. The drilling was aimed at delineating the extent of the
extensive quartz veining and stockwork observed at surface which is
the subject of intense artisanal mining. Some of the best
results come from the Memer Prospect, situated in the NE part of
the property. Seven (7) trenches were dug over this prospect, with
the best results observed in Trench DI_TR_005, with an intersection
of 8,98 g/t Au over 8 meters. A RC drill hole fence was drilled
under this trench with best results coming from hole RC0055 with
1,66 g/t Au over 4 meters and from hole RC0056 with 3.18 g/t Au
over 2 . These assays were observed within a wide zone of quartz
stockwork and quartz veins within a meta-sedimentary package of
schistose rocks. Landsat Imagery analysis from this zone indicates
that the quartz veining and stockwork is spatially associated to a
large ESE Tectonic corridor. On the Lopal prospect, situated about
1.5 km to the south of the Memer Prospect, results of up to
5.78 g/t Au over 2 meters in RC Drill Holes DIRC0029 within quartz
veining has been observed. This intersection is situated within a
volcano sedimentary packages with sub vertical quartz veins and
stockwork. Trench DI_TR_09, situated above DIRC0029, indicate
assays of up to 0.96 g/t Au over 10 meters in a similar setting.
Satellite Imagery and geological field work indicate that the Memer
and Lopal Prospect may be situated in a similar tectonic
environment and related to each. Further work is required to
determine if the two prospects connect over the full 1.5km. The
drilling demonstrated the continuity of the large quartz
stockwork formation observed when trenching at surface. Although
more work has to be completed, gold mineralisation appears to be
intimately associated with this quartz stockwork and its potential
extension over several hundreds of meters, as indicated by Landsat
Imagery and lithostructural analysis. Please consult the Gondwana
website, www.gondwanagold.com for a complete list of results and
tables, related to Dianvour property. Ouaraba Property On the
Ouaraba property, geological mapping, rock chip sampling coupled
with historical geochemical sampling gave rise to targets being
established for an RC drilling program. A total of 1,410 meters of
trenching in 7 trenches were completed before the rainy season,
from which some 650 samples have been sent for analysis. Field work
indicates that gold appears to be spatially associated to zone of
quartz stockwork and veining. These veins are the subject of
artisanal mining activities by locals. Three major prospects have
been identified at present on the permit. They are Bouyouro,
Gakoula, and Sierka. These represent combined soil gold anomaly and
lithostructural elements that may indicate potential economic gold
mineralisation. The RC drilling program, which was completed in
July, consisted in 4,903 meters in 121 holes, from which 2,618
samples have been sent for analysis. Laboratory results are
anticipated in late September of 2012. Quality Assurance / Quality
Control (QA/QC) Analytical work for trenching was carried out at
the independent BIGS Laboratories Ltd. in Ouagadougou, Burkina
Faso. Trench samples are subject to a full sample preparation
followed by a 200 g bottle roll analysis. Blanks, standards and
duplicates are being used to monitor laboratory performance during
the analysis. Analytical work for drilling is being carried out at
the independent ActLabs Laboratories Ltd. in Ouagadougou, Burkina
Faso. RC drill chips samples are stored at Gondwana field camp and
put into sealed bags until delivered by a Gondwana geologist to the
laboratory in Ouagadougou. RC drill chips samples are crushed and
pulverised to 200 mesh (80 micron) and a 50 gram split is analysed
by fire assay with an AA finish. Blanks, standards and duplicates
are being used to monitor laboratory performance during the
analysis. This press release has been reviewed for accuracy and
compliance under National Instrument 43-101 by François Auclair,
PGeo, MSc., Gondwana Gold Inc's Lead Geologist and Qualified
Person. Liquidity As at Quarter ended June 30, 2012, Gondwana's
cash position was $9.6 million. About the Company Gondwana Gold
Inc. is focused on pursuing exploration and development
opportunities within the mining sector. For further information
about the company and its activities, please refer to the company's
website at www.gondwanagold.com as well as filings at
www.sedar.com. 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. Caution Concerning Forward‐Looking
Information This news release contains forward‐looking statements
that are based on the Corporation's current expectations and
Estimates. Forward‐looking statements are frequently characterized
by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur, and include, without limitation, statements regarding
the Corporation's 2012 exploration program and the timing and costs
associated therewith. Such forward‐looking statements involve known
and unknown risks, uncertainties and other factors that could cause
actual events or results to differ materially from estimated or
anticipated events or results implied or expressed in such
forward‐looking statements. Factors that may cause actual results
to vary materially include, but are not limited to, the
Corporation's financial resources and the availability of financing
alternatives, changes in general economic conditions or conditions
in the financial markets, the availability of suitable exploration
properties, the speculative nature of mineral exploration, and
unanticipated operational or technical difficulties. Such
forward‐looking information is based on a number of assumptions,
including but not limited to, the availability of financing, no
significant decline in existing general business and economic
conditions, and the level and volatility of mineral prices. Any
forward‐looking statement speaks only as of the date on which it is
made and, except as may be required by applicable securities laws,
the Corporation disclaims any intent or obligation to update any
forward‐looking statement, whether as a result of new information,
future events or results or otherwise. Forward‐looking statements
are not guarantees of future performance and accordingly undue
reliance should not be put on such statements due to the inherent
uncertainty therein. Gondwana Gold Inc. CONTACT: Gondwana Gold
Inc.Yves GrouPresidentPhone: (514) 744-4408 ext 3347
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