TORONTO, Oct. 26, 2012 /CNW Telbec/ - Gondwana Gold Inc. (TSXV: GON) today provided results from the 5,000 meter RC drilling program conducted in June and July 2012 on its wholly owned Ouaraba property in Southwest Burkina Faso. An overview of the work program was previously described in the press release dated August 29, 2012.
The Ouaraba property is easily accessible by paved road from the capital of Ouagadougou being located in Burkina Faso, within the Birimian Boromo Greenstone Belt hosting the Kalsaka and Poura gold mines.
The property is characterized by a series of NNW to WNW major lineaments coinciding with sizeable gold in soil anomalies. Three prospects have been identified at present. They are Bouyouro, Gakoula, and Sierka. These represent combined soil gold anomalies and lithostructural elements that may indicate potential economic gold mineralisation. The RC drilling program, completed in July 2012, consisted of 4,903 meters in 121 holes, from which 2,618 samples have been sent for analysis.
Drilling identified a numbers of quartz veins and stockworks situated in fractures zones within a sedimentary sequence over the Gakoula prospect, situated in the northern part of the property. The best intersection was observed in hole OUARC118 which intersected 36 meters of 0.53 g/t Au from 10 meters, including a 10 meter section of 1.08 g/t Au. On the same drill line section, some 50 meters west of hole OUARC 118, hole OUARC120 also intersected a wide anomalous gold zone, including 18 meters at 0.22 g/t. Complete drill results along with additional maps and figures may be found at www.gondwanagold.com
Scout RC drilling was conducted on other targets including Bouyouro and Sierka. These two prospects were delineated by WNW gold in soil anomalies. The drilling indicate widespread low level anomalous level of gold on Sierka, with some of the best results being: 24 meters (from 8 meters) at 0.11 g/t Au in hole OUARC46, 16 meters at 0.13 g/t Au from surface in hole OUARC023, 10 meters (from 32m) at 0.2 g/t Au in hole OUARC 049 and 10 meters (from 20m) at 0.18 g/t Au in hole OUARC052.
All drill line sections were spread out over a wide area, with no drill line sections going north or south of these intersections. More work is planned before the end of the year to obtain a better understanding of this area.
A total of 1,410 meters of trenching in 7 trenches were completed before the rainy season, from which 650 samples were sent for analysis. Broad zone of anomalous gold, including 4.78 g/t Au over 2 m section in trench OUA TR3 were observed. 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.
As of October 22, 2012, all assays from field work and RC drilling from the Q2 and Q3 work program have been received.
On the Gabou property, a limited infill soil geochemical sampling and geological mapping program was conducted in July and August. The results indicate that the central area of the property, situated within a narrow 2 - 3km wide volcano sedimentary band, contains two granitic plutons, shows a noteworthy gold enrichment.
Please consult the Gondwana website, www.gondwanagold.com for a complete list of results and tables.
Quality Assurance / Quality Control (QA/QC)
Analytical work for soil samples, trenching and 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.
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 planned exploration work and the potential economic gold mineralisation of the Bouyouro, Gakoula and Sierka properties. 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.
SOURCE: Gondwana Gold Inc.
For further information:
Gondwana Gold Inc.
Phone: (514) 744‐4408 ext 3347