TORONTO, Jan. 12, 2012 /CNW/ - Gondwana Gold Inc. (GON: TSXV) today announced its 2012 exploration program for Burkina Faso.
Work is set to begin in January, under the direction of Francois
Auclair, on all four of the Corporation's exploration permits. The
permits, Dianvour, Gabou, Ouaraba and Kasseba, are located in south
western Burkina Faso, in the Birimian Boromo Greenstone Belt that hosts
the Kalsaka and Poura gold mines. All properties are easily accessible
from the capital, Ouagadougou.
In 2010, a regional soil survey of the Dianvour, Gabou and Ouaraba
properties outlined a number of encouraging gold anomalies. On the
Dianvour property, a NNE-trending series of soil anomalies have been
identified in the northern part of the property which coincide with a
regional deformation zone and a number of outcropping quartz veins.
These veins have been mined by local artisanal miners. In the northern
part of the Ouaraba property, a NNW-trending soil anomaly lies near the
contacts between metavolcanics and metasedimentary rock.
Before drilling is initiated, detailed soil sampling will take place
over the most prospective anomalous areas identified in the regional
surveys on Dianvour and Ouaraba. Following the identification of
targets, an initial phase of RC drilling of approximately 10,000 meters
will take place on the Dianvour and Ouaraba properties. Results from
the drill program are expected at the end of Q2 or early Q3. On the
Gabou and Kasseba properties, detailed and regional soil surveys will
be carried out. The cost of the planned work is estimated at $2
million. Additional RC drilling of a further 10,000 meters is also
planned with results at the end of Q3.
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
SOURCE Gondwana Gold Inc.
For further information:
Gondwana Gold Inc.
Phone: (514) 744-4408