GoGold’s First Hole GGS-18 at Chispa De Oro Intercepts a 110 metre zone which contained a 74.45 metre Interval of 1.89 g/t Gold Equivalent and 54 metres of 1.25% Copper And Chispa De Oro Hole GGS-20 Intercepts 50 metres of 3.85 g/t Gold Equivalent

Drilling Discovery - Chispa De Oro "Chispa" (Gold, Silver and Copper)

Trading Symbol:  TSX-V: GGD
Shares Issued:  61,016,665

HALIFAX, March 22, 2012 /CNW/ - GoGold Resources Inc. (TSXV: GGD), is pleased to announce initial drilling results from its high sulphidation Chispa De Oro target at its San Diego Project in Durango, Mexico.  The three holes reported from Chispa (See Table 1 below) intersected gold, silver and copper mineralization over significant widths which may be part of a newly discovered silver, gold, copper, molybdenum porphyry system. GoGold geologists have interpreted that the copper zone intersected may be part of supergene enrichment associated with a copper porphyry and is primarily dominated by chalcocite. The copper zone appears to lie near the bottom and below the oxidized gold and silver zones.

This initial drilling on the Chispa De Oro 3.5 kilometre by 1 kilometre alteration zone is very positive and the company believes that further drilling will help define the high sulphidation system and may confirm the presence of a porphyry system. Company geologists are encouraged by the fact that drilling results from both the Chispa De Oro target and the Breccia Hill Open Pit target (See Table 2. below for new drill results from Breccia Hill) display the same porphyry style characteristics. The Chispa De Oro alteration zone and the Breccia Hill Open Pit target are 12 kilometers apart.

Table 1: Most Recent Drill results- (Chispa De Oro)

Drill Hole	From (metres)	To (metres)	Interval (metres)	Copper %	Au g/t	Ag g/t	Gold Equivalent* (AuEq) g/t
GGS-18	3.05	77.5	74.45		.24	76.36	1.89
GGS-18	59.6	113.5	53.9	1.25
GGS-19	36.4	131	94		.04	54	1.20
GGS-19	26.4	92.0	65.6	.45
GGS-20	1.0	51.0	50		.35	161	3.85
GGS-20	40	54.0	14	1.07

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

The San Diego project claim group covers a 35 km x 10 km corridor of gold and silver showings and alteration zones which may be related to underlying porphyry systems in the area. A detailed ground geophysical program is being implemented to better define and direct future exploration on these targets.

The initial drilling continues at the southern portion of Chispa De Oro, and a second drill pad has been prepared one kilometer north of the current drilling location where the Company trench sampled up to 50.63 meters of 1.58 g/t AuEq (0.31 g/t Au / 58.7 g/t Ag) on surface. A third drill pad will be constructed 2.5 kilometres north of the current drill pad where the Company trench sampled 110 metres of 0.50 g/t AuEq (0.16 g/t Au and 15.54 g/t Ag) on surface (see Press Release dated August 10, 2011). The Company has taken 5,128 surface samples from the Chispa De Oro alteration area which has a weighted average grade of 0.34 g/t AuEq (0.12 g/t Au and 9.9 g/t Ag) which includes all mineralized and non-mineralized surface samples taken over a strike length of 3.5 kilometers.

New Drilling Breccia Hill Zone - San Diego North

The Breccia Hill target is located 12 kilometers northwest from the current drilling location at Chispa De Oro. The new holes (Table 2. Below) are from the Breccia Hill Open Pit target and previously released drill holes from this target returned up to 84 metres of 2.43 g/t gold equivalent (1.98 g/t Au and 20.5 g/t Ag) and 95 metres of 1.48 g/t gold equivalent. (1.22 g/t Au and 12.1 g/t Ag) (See Press Releases dated January 17, 2012 and October 25, 2011).

Most Recent Drill Results From Breccia Hill

Table 2: Breccia Hill Zone - Gold, Silver results

Hole	From (metres)	To (metres)	Interval	True Width	Au	Ag	AuEq
GGS-12	0	18	18	17	0.07	11.00	0.31
GGS-12	47.7	85.7	38	36	0.54	4.60	0.64
Including	48.7	59.7	11	10	1.36	7.90	1.53
GGS-12	106.7	114.7	8	8	2.05	5.00	2.16
GGS-12	175.7	209.7	34	34	0.23	39.40	1.09
GGS-12	253.7	277.7	24	15	0.21	84.80	2.05
GGS-13	98	108.5	10.5	9.5	0.20	7.00	0.35
GGS-13	133.5	154	20.5	18.5	0.08	42.50	1.00
GGS-13	182	220	38	34	0.03	13.00	0.31
GGS-14	37	44	7	6	0.18	4.00	0.27
GGS-14	62	66	4	3.6	0.40	4.00	0.49
GGS-14	96.5	116	19.5	17.5	0.37	13.00	0.65
GGS-14	164	185	21	19	0.16	3.80	0.24
GGS-15	78.7	80.2	1.5	1.35	1.38	9.00	1.58
GGS-15	134.9	138.7	3.8	3.4	0.96	36.00	1.74
GGS-15	309.1	309.6	0.5	0.5	0.05	127.00	2.81

*Silver/Gold ratio of 46:1 used for Gold Equivalent.
Metallurgical recoveries and net smelter returns are assumed to be 100%
GGS-16 and GGS-17 were targeted for copper and molybdenum and were anomalous

Additionally, at the Breccia Hill target there were several significant intercepts of copper and molybdenum in what appeared to be a porphyry environment. All holes drilled in this area intercepted copper and moly mineralization see highlights in Tables 3 & 4 below:

Table 3: Breccia Hill Zone - Copper Results

Hole	From (metres)	To (metres)	Interval	Cu%
GGS-13	0	347	347	0.12
Including	187	277	90	0.27

True Widths are not yet determined orientation of the mineralization is not yet understood.
Metallurgical recoveries and net smelter returns are assumed to be 100%

Table 4: Breccia Hill Zone - Molybdenum Results

Hole	From (metres)	To (metres)	Interval	Mo%
GGS-13	0	133.5	133.5	0.012
GGS-15	0	419.2	419.2	0.026
Including	249.5	373.2	123.7	0.038

True Widths are not yet determined orientation of the mineralization is not yet understood.
Metallurgical recoveries and net smelter returns are assumed to be 100%

Table 5: Coordinates of the Chispa De Oro holes

HOLE_ID	EAST	NORTH	ELEV	AZ	DIP	DEPTH
GGS-018	471052	2576280	765	170°	(-45°)	397.80
GGS-019	471052	2576280	765	170°	(-75°)	470.40
GGS-020	471052	2576280	765	215	(-50)	294.00

Table 6: Coordinates of the Breccia Hill Zone holes

HOLE_ID	EAST	NORTH	ELEV	AZ	DIP	DEPTH
GGS-005	460899	2585236	1770	115°	-45	253.00
GGS-006	460899	2585236	1770	115°	-70	248.00
GGS-007	460898	2585235	1771	90	-50	271.00
GGS-008	460898	2585235	1760	90	-75	200.00
GGS-009	460898	2585235	1760	99	(-)45°	292.20
GGS-010	460898	2585235	1760	99	(-)60°	496.50
GGS-011	460970	2585190	1740	90	(-)54	334.40
GGS-012	460970	2585190	1740	90°	(-)65°	384.20
GGS-013	461154	2585185	1625	270°	(-62°)	356.00
GGS-014	461154	2585185	1625	270°	(-73°)	431.00
GGS-015	461154	2585185	1625	270°	(-85)	998.20

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. 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.

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 per cent of the pulp will pass Tyler 150 mesh (106μm). The pulps are analysed for Au/Ag fire assays with a gravimetric finish and copper is analysed with atomic absorption 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.

(Not for distribution to US wire services or for dissemination in the United States of America)

 

 

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 : [email protected]
Or visit : www.gogoldresources.com