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.
Gabou Property
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.