Gossan Resources Limited

Gossan Resources Limited

December 19, 2006 14:11 ET

Gossan Returns Alto-Gardnar Property

WINNIPEG, MANITOBA--(CCNMatthews - Dec. 19, 2006) - Gossan Resources Limited (TSX VENTURE:GSS)(Frankfurt/Freiverkehr:GSR) has returned the original 336-hectare Alto-Gardnar Property to its optionors. The Property which is prospective for gold and comprised of two claim blocks is located in the Sandybeach Lake area, 37-kms east of Dryden, Ontario.

Gossan undertook a field program at the original 336-hectare property this past summer, stripping a 10-metre wide shear zone over a 300+ metre length. The shear zone was geologically mapped and extensively channel sampled. Assaying was untaken using two methods. Although gold mineralization was intermittently present, no zones in width or grade were found to be of economic interest. Regrettably, these results were subsequently confirmed below surface in three short small-core drill holes. Gossan retains the second 800-hectare block comprising the Alto-Gardnar Property which is located on strike about 1-km to the southwest.

G. Ryan Cooke, P.Geo., Gossan's Qualified Person, has reviewed and approved the contents of this news release.

Gossan Resources Limited is engaged in mineral exploration in Manitoba and northwestern Ontario. It has a well-diversified portfolio of properties hosting gold, platinum group and base metals, as well as the specialty metals, tantalum, chromium, titanium and vanadium. The Company also has a large deposit of magnesium-rich dolomite and a silica sand prospect. Gossan trades on the TSX Venture and the Frankfurt/Freiverkehr & Xetra Exchanges and has 20,920,900 shares outstanding (26,880,776 shares fully diluted).

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Gossan Resources Limited
    Douglas Reeson
    Chairman & CEO
    (204) 943-1990 or Toll Free: 1-800-462-4283
    (204) 942-3434 (FAX)
    Email: info@gossan.ca
    Website: www.gossan.ca