New Drilling from GoGold's Chispa South Intercepts 70.1 Meters of 130.8 g/t Silver Equivalent (AgEq) PLUS 1.08% Copper including 22.0 Meters of 109.2 g/t AgEq PLUS 3.37% Copper
| Trading Symbol: | TSX-V: GGD |
| Shares Issued: | 128,288,331 |
HALIFAX, Oct. 4, 2012 /CNW/ - GoGold Resources Inc. (TSXV: GGD), is pleased to announce new drilling results from the Chispa De Oro target within the company's San Diego Project in Durango, Mexico. Hole GGS-035 intercepted 70 meters of 130.8 g/t AgEq46 (0.42 g/t gold, 111.5 g/t silver) plus 1.08% copper (starting just 10.35 meters from surface), 22.0 meters of 109.2 g/t AgEq (0.28 g/t Au, 96.3 g/t Ag) plus 3.37% copper was included in the same intercept. Exploration efforts continue to target and further define other high grade areas throughout the San Diego Project with accelerated drilling at Chispa South.
Chispa South Target
The Chispa South Target located within the larger Chispa De Oro 3.5
kilometer mineralized zone has returned significant drill results from
an intrusive quartz diorite and injection breccia which is believed to
be part of the porphyry system. The breccia and the quartz diorite
intrusive are exposed on surface and drilling to date within these rock
units has indicated wide intervals of significant silver, gold, and
copper grades as shown below.
Significant Drill Holes from Chispa South
(See: Table 1 - new results and Table 3 - previously released for details)
- GGS-18: 74.45 meters of 86.94 g/t AgEq and 53.9 meters of 1.25% copper
- GGS-19: 94 meters of 55 g/t AgEq and 65.6 meters of 0.45% copper
- GGS-20: 50 meters of 177.10 g/t AgEq and 14 meters of 1.07 % copper
- GGS-032: 124.3 meters of 51.98 g/t AgEq PLUS 0.34% copper
- GGS-033: 92.1 meters of 36.8 g/t AgEq PLUS 0.55% copper
- GGS-035: 70.1 meters of 130.8 g/t AgEq PLUS 1.08% copper
President's Comments
"We are very encouraged by the grade and the width of the intervals at
Chispa South and further drill holes will be released as they become
available. We are accelerating the work at this target as we interpret
the current drilling to be extremely encouraging."
The company has added an additional drill rig focused on determining the size of the significantly mineralized target at Chispa South. The drilling indicates that the breccia and the quartz dioritic targets within the porphyry environment mentioned above are increasing in volume with additional drilling. The current focus of the company on the overall San Diego Project is one of target generation and discovery drilling outside of Chispa South as well as resource definition drilling at the Chispa South target.
Table 1:
New Drill Results:
| Drill Hole | From (m) | To (m) | Interval (m) | Au g/t | Ag g/t | AgEq46 g/t | Copper % |
| GGS-034 | 219.3 | 323.5 | 104.2 | 0.02 | 11.0 | 11.9 | 0.36% |
| including | 222.7 | 277.8 | 55.1 | 0.02 | 17.0 | 17.9 | 0.48% |
| GGS-035 | 10.4 | 140.0 | 129.7 | 0.21 | 56.9 | 66.7 | 0.65% |
| including | 10.4 | 80.4 | 70.1 | 0.42 | 111.5 | 130.8 | 1.08% |
| including | 58.5 | 80.4 | 22.0 | 0.28 | 96.3 | 109.2 | 3.37% |
| GGS-036 | 4.3 | 11.3 | 7.0 | 0.04 | 36.0 | 37.8 | 0.01% |
| and | 46.3 | 60.8 | 14.5 | 0.03 | 9.0 | 10.4 | 0.01% |
| GGS-037 | 13.0 | 19.0 | 6.0 | 0.11 | 18.0 | 23.1 | 0.08% |
| and | 157.7 | 167.2 | 9.5 | 0.03 | 23.0 | 24.4 | 0.15% |
| GGS-038 | 51.4 | 78.0 | 26.6 | 0.04 | 11.0 | 12.8 | 0.03% |
| and | 104.0 | 115.4 | 11.4 | 0.03 | 9.0 | 10.4 | 0.04% |
| GGS-039 | 166.0 | 176.0 | 10.0 | 0.02 | 14.0 | 14.9 | 0.05% |
| GGS-040 | 109.3 | 117.8 | 8.5 | 0.02 | 13.0 | 13.9 | 0.07% |
| GGS-042 | 4.5 | 83.5 | 83.5 | 0.09 | 33.4 | 37.5 | 0.25% |
| including | 0.0 | 47.5 | 47.5 | 0.13 | 43.0 | 49.0 | 0.28% |
| including | 66.5 | 83.5 | 17.0 | 0.11 | 35.0 | 40.1 | 0.32% |
| GGS-043 | 313.4 | 432.0 | 118.6 | 0.02 | 12.6 | 13.6 | 0.31% |
| including | 314.5 | 333.0 | 18.5 | 0.10 | 70.5 | 75.1 | 1.30% |
| GGS-044 | 0.0 | 15.0 | 15.0 | 0.13 | 6.0 | 12.0 | 0.05% |
| and | 31.0 | 52.0 | 21.0 | 0.04 | 11.0 | 12.8 | 0.17% |
| and | 86.7 | 91.7 | 5.0 | 0.09 | 13.0 | 16.9 | 0.05% |
| and | 116.0 | 127.0 | 11.0 | 0.03 | 11.0 | 12.5 | 0.06% |
| GGS-045 | 25.1 | 38.6 | 13.5 | 0.03 | 8.0 | 9.4 | 0.32% |
| and | 52.6 | 64.6 | 12.0 | 0.08 | 11.0 | 14.7 | 0.15% |
| and | 92.6 | 111.6 | 19.0 | 0.05 | 16.0 | 18.3 | 0.13% |
| and | 166.6 | 172.6 | 6.0 | 0.03 | 13.0 | 14.4 | 0.13% |
| and | 265.7 | 272.9 | 7.2 | 0.01 | 12.0 | 12.5 | 0.44% |
| and | 277.2 | 291.4 | 14.2 | 0.02 | 21.0 | 21.9 | 0.64% |
| and | 300.1 | 320.6 | 20.5 | 0.02 | 16.0 | 16.9 | 0.44% |
| GGS-045 | 265.7 | 320.6 | 54.9 | 0.01 | 14.2 | 14.7 | 0.59% |
| including | 305.1 | 320.6 | 15.5 | 0.01 | 19.9 | 20.4 | 0.96% |
True Widths are not yet determined orientation of the mineralization is
not yet understood.
*Silver/Gold ratio of 46:1 used for Silver Equivalent.
Metallurgical recoveries and net smelter returns are assumed to be 100%
GGS-041 was low grade
The San Diego project claim group covers a 35 km x 10 km corridor of gold, silver and copper showings and alteration zones which may be related to underlying porphyry systems in the area. A detailed ground geophysical program has been completed and interpretation is being implemented to better define and direct future exploration on these targets.
Table 2:
Coordinates of the new Chispa De Oro drill holes
| HOLE_ID | EAST | NORTH | ELEV | Az | Dip | DEPTH |
| GGS-034 | 471125 | 2576205 | 721 | 300 | -60 | 323.5 |
| GGS-035 | 471052 | 2576280 | 776 | 129.6 | -63 | 263.3 |
| GGS-036 | 471317 | 2575884 | 730 | 137.8 | -55 | 354.3 |
| GGS-037 | 471316 | 2576106 | 687 | 316.1 | -47 | 257 |
| GGS-038 | 471377 | 2576263 | 580 | 311.4 | -46 | 357.3 |
| GGS-039 | 471199 | 2576441 | 585 | 120 | -45 | 185.1 |
| GGS-040 | 471201 | 2576438 | 608 | 165.5 | -45 | 257.2 |
| GGS-041 | 471300 | 2575988 | 718 | 0 | -90 | 332.5 |
| GGS-042 | 471106 | 2576116 | 742 | 0 | -90 | 463 |
| GGS-043 | 470984 | 2576356 | 740 | 143.1 | -80 | 443 |
| GGS-044 | 471216 | 2576291 | 668.9 | 0 | -90 | 200.7 |
| GGS-045 | 471037 | 2576196 | 766.6 | 0 | -90 | 320 |
Table 3:
Significant Drill Holes from Chispa South
| Drill Hole | From (m) | To (m) | Interval (m) | Copper (%) | Au (g/t) | Ag (g/t) | AgEq46 |
| GGS-18 | 3.05 | 77.5 | 74.45 | 0.24 | 76.36 | 86.94 | |
| GGS-18 | 59.6 | 113.5 | 53.9 | 1.25 | |||
| GGS-19 | 36.4 | 131 | 94 | 0.04 | 54 | 55.2 | |
| GGS-19 | 26.4 | 92 | 65.6 | 0.45 | |||
| GGS-20 | 1 | 51 | 50 | 0.35 | 161 | 177.1 | |
| GGS-20 | 40 | 54 | 14 | 1.07 | |||
| GGS-32 | 4.8 | 129 | 124 | 0.34 | 0.1 | 47.3 | 51.98 |
| GGS-33 | 78 | 170 | 92 | 0.55 | 0.1 | 32.8 | 36.8 |
True Widths are not yet determined orientation of the mineralization is
not yet understood.
*Silver/Gold ratio of 46:1 used for Silver Equivalent. Metallurgical
recoveries and net smelter returns are assumed to be 100%
Core Samples
The core was either HQ or NQ in size in the surface holes. Holes were
started at the larger HQ size and reduced to NQ if necessary. The
drilling crew boxes the core and GoGold employees transport it to the
core shack. In the core shack the core is geologically logged with
sample lengths indicated. When the sample lengths are determined the
core is split using an impact splitter with one half of the core being
bagged and tagged for assay. The other half is returned to the core
trays for storage.
Lab Preparation
The sealed and tagged sample bags are turned over to ActLabs personnel
at the site who transport them to the ActLabs sample preparation
facility in Zacatecas, Mexico. ActLabs crushes the samples and prepares
200-300 gram pulp samples. Ninety percent of the pulp will pass Tyler
150 mesh (106μm). The pulps are sent to ActLabs in Canada for analysis
for Au/Ag fire assays with a gravimetric finish and ICP-41 for all the
other elements. This process is expected to continue as additional
drill core continues to arrive.
Mr. Ramon Luna P.Geo is the qualified person as defined by National Instrument 43-101 and is responsible for the geological information of this release.
CAUTIONARY STATEMENT:
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. This News
Release includes certain "forward-looking statements". All statements
other than statements of historical fact, included in this release,
including, without limitation, statements regarding potential
mineralization and reserves, exploration results, and future plans and
objectives of GoGold, are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to
differ materially from GoGold's expectations are exploration risks
detailed herein and from time to time in the filings made by GoGold
with securities regulators.
SOURCE: GOGOLD RESOURCES INC.
For further information: Terence F. Coughlan, President and CEO,
or,
Sean Tufford, Vice President, Corporate Development
GoGold Resources Inc.,
T: 902 482-1998
F: 902 442-1898
Email : sean@gogoldresources.com
Or visit : www.gogoldresources.com