Monday, 28th January 2008 (1854 views)

Ginguro Exploration has identified 12 occurrences gold at its Minnitaki project south of Sioux Lookout, Ontario.

Channel sample assay results from the property, which is located within the Sioux Lookout Greenstone Belt 29 kilometres north-east of the Goldlund gold mine, yielded results of 5.73 g/t gold over 2.9 metres and 8.97 g/t over 1.65 metres. Grab sample results included values up to 117.73 g/t.

Mineralisation has been detected over 3.2 kilometres, the company said, at an approximate width of 1.8 kilometres.

The results form the first phase of exploration at the site, which was designed to provide further geological information on two previous discovered gold-bearing systems.

The company says that the results so far are "extremely encouraging" and may suggest that the deformation zones and associated types of mineralisation are favourable for hosting an Archean Lode-style deposit.

Ginguro now plans a diamond drill program during the second quarter of 2008.

The Minnitaki project is Ginguro's most advanced development. It also holds interests in two other properties in Ontario, the Hiawatha gold property and the Pecors gold property and is currently pursuing prospects in Chile and Brazil.

 

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