Ginguro Exploration Inc.
TSX VENTURE : GEG

Ginguro Exploration Inc.

September 24, 2013 08:55 ET

Ginguro Receives Additional Assays at Eastern Reef and 007 Zone

SUDBURY, ONTARIO--(Marketwired - Sept. 24, 2013) - Ginguro Exploration Inc. (TSX VENTURE:GEG) (the "Company" or "GEG") is pleased to announce that it has received the remainder of current channel sampling results from both the Eastern Reef Zone and the 007 Zone at the Company's Pardo property, located approximately 65 km northeast of Sudbury, Ontario. As a result, the Company is now able to provide a comprehensive summary of all channels sampled to date at both the Eastern Reef and the 007 Zone.

Maps of each of the Eastern Reef and the 007 Zone illustrating the channel sample locations, as well as tables showing detailed assay results, can be found on the Company's website at www.ginguro.com. The Eastern Reef is located in the north-central part of the Pardo property, with the 007 Zone located 600 metres southwest of the Eastern Reef. Work to date suggests that the area between these zones is underlain by similar geology.

007 Zone

The 007 Zone has been tested with four separate channels sawn across the rock surface. These channels are comprised of continuous 50 cm sampling intervals designed to give a best estimate of average grades across the exposed surface. Channels 106 and 114 are oriented roughly north-south and channels 109 and 110 are oriented approximately perpendicular to Channels 106 and 114. All assays have now been received from these four separate channels cut and sampled to date at the 007 Zone. Results of these aggregate channels are summarized as follows:

  • Channel 106 averaged 36.5 g/t gold across 31 meters.
  • Channel 109 averaged 7.8 g/t gold across 7.5 meters.
  • Channel 110 averaged 28.7 g/t gold across 20 meters.
  • Channel 114 averaged 2.2 g/t gold across 5.5 meters.

Eastern Reef

At the Eastern Reef, stripped off exposures have been subdivided into three areas of continuous exposed outcrop, designated as the north block, middle block and south block. All assays now have been received from the five separate channels cut and sampled to date. Starting from the northern most end of the north block, Channel 107 is oriented along the axis of the north block, trending south-southwest, then turns to the southeast. Channels 111, 112 and 113 are oriented perpendicular to Channel 107. Results of all sampled channels at the Eastern Reef north block are summarized as follows:

  • Channel 107 averaged 4.2 g/t gold across 92.5 meters.
  • Channel 111 averaged 5.5 g/t gold across 6.5 meters.
  • Channel 112 averaged 4.8 g/t gold across 9.5 meters.
  • Channel 113 averaged 5.4 g/t gold across 14.5 meters.

In addition to these four channels sampled in the north block, Channel 108, which sampled the southern half of the south block and is oriented roughly north-south, averaged 2.8 g/t gold across 49.5 meters.

There are not yet any channels sampled in the middle block, nor in the northern half of the south block.

Average channel assays reported in this release are in respect of all channels sampled to date at both the Eastern Reef and the 007 Zone. These averages include some previously announced results. Channel lengths reported in this release represent gold values within the conglomerate outcrop at surface and do not represent true thicknesses of the gold bearing conglomerate. The gold-bearing conglomerate is estimated to have a true thickness of between 3 and 6 metres in at the Eastern Reef and approximately 2 meters at the 007 Zone.

Both the Eastern Reef and the 007 Zone are located within the Pardo JV Property.

About Ginguro

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 Corporation'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 Corporation does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

Pardo samples are transported in security sealed bags for preparation at AGAT Prep Lab located in Sudbury, Ontario. Prepped samples are shipped for analysis to the AGAT Assay Laboratory in Mississauga, Ontario. AGAT Laboratories Ltd. is an ISO 17025 registered laboratory. Samples are analyzed by industry standard 50 gram fire assay fusion with atomic absorption spectroscopy (AAS) finish, and a gravimetric finish on samples exceeding 10 g/t gold. The Company inserts a certified reference standard or an analytical blank in every batch of 20 samples. Validation parameters are established in the database to ensure quality control.

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.

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