Gonzaga Resources Ltd.
TSX VENTURE : GN

October 07, 2011 09:30 ET

Gonzaga Initiates Exploration Program on Kennedy Lake Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 7, 2011) - GONZAGA RESOURCES LTD. (the "Company") (TSX VENTURE:GN) announces the commencement of a Phase I work program on its 100% owned Kennedy River Property located near Port Alberni, Vancouver Island, British Columbia.

The Kennedy River Property covers roughly half of the historic Kennedy River Gold District and has potential to host significant zones of sheeted vein type gold mineralization. Previous exploration work carried out by Kerr Addison Mines in the late 1980's, in addition to soil geochemical surveys and 3DIP surveys, carried out by the Company in 2010, identified several areas of mineralization that warrant follow-up exploration work.

The primary target area (referred to as the G-1 Target) consists of a co-incident gold in soil and chargeability anomaly identified in 2010. The soil geochemical anomaly and the IP anomaly are over 200 meters wide, both are open to the southwest and there is a second chargeability anomaly that has not been explained to the north of the main anomaly. Additional target areas include the Westering 2 sheeted vein zone located approximately one kilometer north of the G-1 Target, the western part of the Au Zone (located in the eastern part of the claim area) and possible northeast extensions of a mineralized zone referred to as the Tommy K Zone, explored by Teck Exploration in the late 1980's, (located in the northern part of the claim area).

The planned exploration work will consist of detailed geological mapping and additional soil geochemical surveys designed to delineate possible strike extensions of the G-1 Target and further assess the other target areas identified in 2010. Results will be announced as they become available. Further information on the Kennedy River Property and the planned Phase I work program can be obtained from an Independent Technical Report entitled "Review of Technical Information and Proposed Work Program for the Kennedy Lake Property" dated October 31, 2010 authored by Carl Von Einsiedel, which can be accessed under the Company's profile at www.sedar.com.

Carl Von Einsiedel, P.Geo, consultant to the Company, is a Qualified Person and has reviewed the technical content of this press release.

ON BEHALF OF THE BOARD,

Greg Davis, President, CEO and Director

This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Gonzaga Resources Ltd. Statements regarding mineral exploration operations and objectives are subject to risk, including, but are not limited to, exploration and geologic risk, inflation and costs of goods and services, property title issues and regulatory approvals. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Gonzaga Resources Ltd. does not assume the obligation to update any forward-looking statement, except as required by applicable law.

Neither the 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 news release.

Contact Information

  • Gonzaga Resources Ltd.
    Darren Devine
    Director
    1-604-638-8067
    1-604-648-8105 (FAX)