GoGold Makes New Discovery of 40 Meters of 5.81 g/t Gold Equivalent On Surface at Chispa De Oro High Sulphidation Zone in Mexico

/NOT FOR DISTRIBUTION TO US WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/

Trading Symbol:  TSX-V: GGD
Shares Issued: 60,966,665

HALIFAX, Feb. 9, 2012 /CNW/ - Terry Coughlan, President and CEO of GoGold Resources Inc. (TSXV: GGD), is pleased to announce that mapping and sampling by our geological team at the San Diego East (Chispa De Oro) high sulphidation area has discovered high grade gold and silver mineralization on surface in a feeder breccia zone within the 3 kilometer by 1 kilometer mineralized and altered volcanic sequence at Chispa De Oro. Highlights are 40 meters of 5.81 g/t gold equivalent, 16 meters of 3.36 g/t gold equivalent and 28 meters of 1.34 g/t gold equivalent. The samples were taken in 2 meter intervals and are continuous trenches. The current drilling at Chispa De Oro is targeting this area and results should be available shortly. Detailed mapping and numerous samples have been collected in the vicinity of these results and submitted to the lab for analysis and will be reported shortly.

Table #1 - Highlights of The High Grade Trenches at San Diego East (Chispa De Oro)

Sample Interval (metres) Gold Equivalent g/t Gold g/t Silver g/t
SDL-780 40 5.81 1.05 218.8
SDL-778 16 3.36 1.99 63.16
SDL-779 28 1.34 0.34 45.82

Silver/Gold ratio of 46:1 used for Gold Equivalent.
(Metallurgical recoveries and net smelter returns are assumed to be 100%)
The orientation of the mineralization is not yet determined. True width is not known.

Sample Protocol and Trench Techniques
Samples were collected on surface and underground with hammer and chisel along a 2 meter continuous line of exposed rock. Fragments or chip samples from a channel approximately 5cm wide by 3 to 5cm in depth were collected in numbered plastic sample bags which were immediately sealed, and approximately 2 to 3kg of rock was collected. Sample intervals were marked on the rock with spray paint along with the sample number. All samples collected by GoGold were supervised by Ramon Luna P.Geo. These samples were bagged, tagged and sealed at the sample site and delivered to ACTLAB in Zacatecas, Mexico.

All samples were processed by method (A.A) Atomic Absorption FAG323 and ICP14. All samples were first assayed by method FAG323 for gold and silver which has detection limits for Au of .03 g/t and Ag of 3 g/t. Samples of 30 grams each were was assayed by Fire Assay with an AAS finish for Au and a gravimetric finish for Ag.

Mr. Ramon Luna P.Geo is the qualified person as defined by National Instrument 43-101 and is responsible for the preparation 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

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GOGOLD RESOURCES INC.

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