SUDBURY, ONTARIO--(Marketwired - Apr 10, 2013) - Ginguro Exploration Inc. (TSX VENTURE:GEG) ("Ginguro") is pleased to provide an update on recent corporate and Pardo project activities.
Over the course of the past winter, the Company has undertaken a comprehensive geotechnical program of drill core review, drawing from its extensive archive of drill core from the Pardo Project of more than 340 individual drill holes.
Under the supervision of Dr. Lawrence Minter, the preeminent authority on paleo-placer gold deposits, a very systematic re-logging of selected Pardo intersections has been ongoing. As part of this process, the ancient surfaces upon which gold was deposited are being correlated to each other. This is being done in order to define key sedimentological relationships that identify prospective areas and trends where higher grade gold can be expected.
The Company has also identified numerous areas where gold mineralization occurs at surface under shallow overburden. Trenching and shallow drilling in 2012 was successful in locating large areas of surface gold mineralization. Most notably, Ginguro recently discovered the Silver Lake Trend, a flat-lying high grade gold zone at surface (see press release dated November 13, 2012). This work of identifying areas for stripping is planned to continue into 2013, with at least six zones (within three priority areas) already identified for stripping this year. These three priority areas are highlighted on a map on the Company website at www.ginguro.com/projects_pardo.html.
In mid-February of 2013, the Company was successful in acquiring two important claims totalling approximately 448 hectares and extending for over 3 kilometers along the Pardo gold trend, to the north of the existing claims. A strong gold in-soil anomaly is known to occur on the most northerly of the new claims. Work on these claims is also being planned for the upcoming field season.
The Company is very pleased to announce the appointment of Alan King to its Advisory Board. Mr. King is a geophysicist who most recently served as the Chief Geophysicist for Vale's global exploration operations. Alan holds a B.Sc. in geology from the University of Toronto and an M.Sc. in geophysics from Macquarie University. He has worked as a geophysicist in exploration and resource development globally, including in Canada, Australia, and Brazil, since 1976. He has been involved in the application of geophysics in mining, oil sands development and environmental applications for a variety of commodities. Mr. King currently acts as a geophysical consultant through Geoscience North.
Ginguro Exploration Inc. is a mineral exploration company focused on the advancement of its Pardo paleo-placer gold property, located in Pardo Township in northern Ontario. To learn more about Ginguro Exploration Inc., please visit: www.ginguro.com.
The Qualified Person responsible for the geological technical content of this news release is Richard Murphy, P.Geo, President and CEO of Ginguro Exploration Inc.
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" in the Company's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.
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