June 2, 2011
Trading Symbol: TSX-V: GGD
Shares Issued: 55,716,665
GoGold Resources Samples 3.12 g/t Gold Equivalent over 36 metres (True Width) From an Underground Cross-Cut At its San Diego North Project
HALIFAX, NOVA SCOTIA -- (CNW – June 2, 2011) - Terry Coughlan, President and CEO of GoGold Resources Inc. (TSX-V: GGD), is pleased to announce further results from its extensive on-going trenching and underground sampling program at the San Diego Project in Durango, Mexico. The Company has discovered wide zones of gold/silver mineralization on surface as well as underground. Newly released highlights include Sample Line SDL-07 from an underground cross-cut (true width) which returned a continuous 36 metres of 3.12 g/t gold equivalent (true width) and an additional interval of 49m of 0.44 g/t from the same cross-cut. An additional underground Sample Line SDL-13 measured 5.3 metres (true width) of 14.17 g/t gold equivalent from an underground face (see Table 01 below).
Surface sampling highlights from a previous press release (May 9, 2011) Table-02 below includes Trench #L-004 which returned 60 metres true width of 1.26 g/t gold equivalent and Trench #L-008 which returned 29.9 metres of 3.56 g/t gold equivalent true width.
The Company currently has twelve (12) geologists on the San Diego Project undertaking a systematic trenching program on the “Breccia Hill Zone” located in the northern portion of the property. At this time, the mineralized surface expression of the zone is interpreted to be 160 metres wide and has been traced over a strike of 400 metres. The zone outcrops up the side of a hill for approximately 150 metres of vertical relief and is open to depth and disappears under cover to the north. Drilling is being planned in this area to define the extent of the zone.
Table-01: New Highlights from Underground Sampling at Breccia Hill Zone:
|Underground X-Cut Sample||True Width (m)||Gold Equivalent g/t||Gold g/t||Silver g/t|
(Silver/Gold ratio of 46:1 used for Gold Equivalent, metallurgical recoveries and net smelter returns are assumed to be 100%)
Note: SDL-09 and 10 were low-grade.
Table-02: Previously Released Highlights (May 9, 2011) of the first (8) eight Trenches of the Breccia Hill Zone:
|Trench #||True Width (m)||Gold Eq g/t||Gold g/t||Silver g/t|
(Silver / Gold ratio of 46:1 used for Gold Equivalent, metallurgical recoveries and net smelter returns are assumed to be 100%)
Note: Trenches are true width but do not entirely cut the 160m width of the zone.
A map showing trench location can be found at: http://gogoldresources.com/index.php/investors/trench-locations
Breccia Hill Zone
Sampling has been completed on the surface in trenches and underground through cross cuts within small historic past producing hand-dug mines (reportedly dating back as far as the 1700’s). Sampling is on-going and we await additional results from samples recently delivered to the lab.
“I am very pleased with the results from our recent underground sampling” states Terry Coughlan, President & CEO. “This underground sampling along with the surface trenching has provided a three dimensional look into the potential of the Breccia Hill Zone. Our plan moving forward is to commence a drill program to better define the Breccia Hill targets. GoGold’s San Diego property has upwards of 25 mineralized zones that need to be systematically sampled. We look forward to receiving additional results from the samples currently in progress. Furthermore, our commitment to the project has grown to include a full time office in Durango City, Mexico. This addition to our growing infrastructure in the district was needed due to our expanding exploration efforts in the area.”
Sample Protocol and Trench Techniques
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 of 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.
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.
For further information please contact:
Terence F. Coughlan, President
Sean Tufford, Vice President, Corporate Development
GoGold Resources Inc.
T: 902 482-1998
F: 902 442-1898
Or visit GoGold’s website: 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)