Aug 15, 2011
PR#14 - 2011
Trading Symbol: TSX-V: GGD
Shares Issued: 55,966,665
GoGold Commences Drilling at its San Diego Project in Mexico at the Breccia Hill Open Pit Target, and at its Rambler Project in Newfoundland, Canada
Terry Coughlan, President and CEO of GoGold Resources Inc. ( TSX-V: GGD), is pleased to announce that an 11,000 metre planned drill program has started at the Company’s Breccia Hill Open Pit Target (San Diego North) at the San Diego Project in Durango, Mexico.
The Company’s geological team in Mexico plan to systematically drill the deposit based on 20x40 metre centres with a goal of generating a resource within the first half of 2012. This potential resource is one of many targets that have been identified by surface results. The company plans to strategically target and drill these additional promising zones over the next few months to further define the potential of this large unexplored region.
To date, the Company has taken a total of 918 samples within the open pit target area at Breccia Hill and the arithmetic average assay of all 918 samples is 1.23 g/t gold and 13.15 g/t silver, for a gold equivalent of 1.52 g/t at a 46:1 silver to gold ratio. The zone mapped by the company extends 400 metres in length and is 160 metres wide and has a vertical relief up a hill for approximately 150 metres. The zone is open along strike and to depth below the valley floor. Company geologists are now mapping and sampling the 20 plus alteration zones south of the Breccia Hill Open Pit Target with the intention of expanding the mineralized footprint in the area.
Shareholders can expect a steady stream of news flow from the resource development drilling at Breccia Hill as well as from other targets as the Company’s large geological team continues to seek out new mineralization on the San Diego Project. The recent new discovery of San Diego East (Chispa De Oro) is a prime example of the potential within the San Diego claims. The geologists are continuing to sample this very large alteration zone (2500m x 750m) in anticipation of drilling this new target within the next few months.
Drilling Starts on the Rambler Project in Newfoundland Canada
A 1500 metre drilling program has started on the Rambler Project in Newfoundland, Canada. The program will test IP anomalies down plunge from the previous footwall gold and copper zone outlined in the Company’s 43-101 report released when the company acquired the property in July, 2010. The drilling will also test new areas within the project that the IP study identified as being prospective for mineralization.
Mr. Ramon Luna P.Geo is the qualified person as defined by National Instrument 43-101 and is responsible for the preparation of this release in relation to the Mexican property. Mr. Terry Coughlan P.Geo is the qualified person as defined by National Instrument 43-101 for the Newfoundland, Canada project.
Sample Protocol and Trench Techniques (Mexico)
Samples were collected on surface and underground with hammer and chisel along a continuous line of exposed rock. Fragments or chip samples from a channel approximately 5cm or less in depth were collected in numbered plastic sample bags, and approximately 2 to 3 kg of rock was collected. Sample intervals are marked on the rock with spray paint along with the sample number. All samples collected by GoGold were supervised by Ramon Luna P.Geo. These samples were bagged, tagged and sealed at the sample site and delivered to ACTLAB in Zacatecas, Mexico.
All samples were processed by method (A.A) Atomic Absorption FAG323 and ICP14. All samples were first assayed by method FAG323 for gold and silver which has detection limits for Au of 3 g/t and Ag 5 g/t. A 30g sample was assayed by Fire Assay with an AAS finish for Au and a gravimetric finish for Ag.
For further information please contact:
Terence F. Coughlan, President and CEO
Sean Tufford, Vice President, Corporate Development
GoGold Resources Inc.
T: 902 482-1998
F: 902 442-1898
Or visit : www.gogoldresources.com
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)