Gondwana Gold commences 2012 drilling program
email: [email protected]
www.gondwanagold.com
TORONTO, May 25, 2012 /CNW Telbec/ - Gondwana Gold Inc. (GON: TSXV) today provided an update on its 2012 exploration program in Burkina Faso.
Work is being carried out on three properties, Gabou, Dianvour and Ouaraba. All are easily accessible by paved road from the capital of Burkina Faso, Ouagadougou, and situated in southwest Burkina Faso, within the Birimian Boromo Greenstone Belt hosting the Kalsaka and Poura gold mines.
- The Gabou Property covers 181.6 sq. km and is located 135 km west southwest of Ouagadougou
- The Dianvour Property covers 248.5 sq. km and is located 210 km southwest of Ouagadougou,
- The Ouaraba Property covers 129.5 sq. km and is located 260 km south southwest of Ouagadougou,
The exploration program is being carried out in several phases with work that includes detailed soil surveys, pitting, trenching and litho-structural analysis from satellite imagery. The first phase 10,000 meters of RC drilling program on both the Dianvour and Ouaraba property is underway. Results are anticipated in the third quarter of 2012.
Following the results of the current RC drilling program, a second phase of 10,000 meters of RC drilling is planned for the fourth quarter of 2012, and will focus on the best results from the first phase. Partial results received to date from the soil and trenching program on the Dianvour property, confirm a well-defined gold in soil anomaly in the north-west corner of the property. This is an area which has held artisanal mining and is characterized by important fracturing with quartz veining and stock works. Some of the quartz veins observed in the trenches have displayed widths of up to 6 meters.
The RC drilling program was initiated on the Dianvour property on May 12th, 2012 in the north western zones known as the Lopal and Memer prospects. These zones have been the subject of artisanal mining activities. As of April 30th, 2012, 608 soil samples and 1188 trench samples from 2 036.7 meters of trenching had been submitted for analysis.
On the Ouaraba property, a 2,650 meters trenching program is underway and a 5,000 meters RC drilling program is underway and is expected to be completed by the end of June.
A global amount of $2.75 million for exploration has been approved for 2012.
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 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 therein.
Gondwana Gold Inc.
Yves Grou
President
Phone: (514) 744‐4408 ext 3347
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