GEG

Ginguro Exploration Inc. (TSX VENTURE:GEG) (the "Company" or "GEG") wishes to
announce the discovery of a new zone of high grade gold mineralization on the
Pardo JV property, which is located approximately 65 km northeast of Sudbury,
Ontario.


The new area, called the Godzilla Zone, is located approximately 450 metres
south of the high grade 007 Zone that was announced in August of 2013. An
initial five grab samples at the Godzilla Zone yielded gold grades from 1.3 g/t
to 10.7 g/t.


The Godzilla Zone has now been exposed over a broad area measuring 150 metres
north-south by up to 125 metres east-west. Three separate channel samples were
taken along the north-south axis of the zone in order to begin to characterize
the grade. These three initial channels ran 17.4 g/t Au over 3m, 14.1 g/t over
4m, and 26.2 g/t Au over 3m. Maps and photos illustrating the location of the
Godzilla Zone and the location of the initial channel samples will be posted on
the Company's website at www.ginguro.com. The test channels returned the
following assays:




     Ch-14-01sp south         Ch-14-02sp middle        Ch-14-03sp north     
        (3m channel              (4m channel              (3m channel       
         averaging                averaging                averaging        
       17.4 g/t Au)              14.1 g/t Au)             26.2 g/t Au)      
   Length        Gold        Length       Gold        Length       Gold     
     (m)         (g/t)         (m)        (g/t)         (m)        (g/t)    
     0.5          12.3         0.5         11.8         0.5         22.3    
     0.5          13.1         0.5         14.2         0.5         52.2    
     0.5          12.9         0.5         6.1          0.5         13.7    
     0.5          28.5         0.5         7.4          0.5         31.5    
     0.5          26.0         0.5         17.1         0.5         26.9    
     0.5          11.6         0.5         15.9         0.5         10.4    
                               0.5         22.8                             
                               0.5         17.4                             



Due to the near flat lying nature of the sedimentary strata, it is not always
possible to cut samples across the gold-bearing strata. Samples are usually
collected either parallel or perpendicular to the interpreted paleochannel
direction. Therefore, the channel lengths reported in this release represent the
gold distribution over the surface area sampled and do not represent true
thicknesses of the mineralized unit. 


The gold-bearing conglomerate tested at the Godzilla Zone appears to have a true
thickness of approximately 4 metres. 


Washing of the bedrock has revealed a coarse cobble to quartz pebble
conglomerate having elevated uranium responses, as measured by a spectrometer.
Mineralization is characterized by fine rounded detrital pyrite and local
buckshot pyrite. Based on the Company's experience at Pardo, the combination of
these characteristics indicate higher grades of gold. Extensive channel sampling
is ongoing at the Godzilla Zone. A total of 210 samples, representing 105
metres, have been cut and delivered for assay and additional channels are
planned to be cut. 


Ginguro management believes that the assays from these initial test channels
confirm the importance of this new area. The Godzilla Zone lies within a
north-south oriented trend in which the host conglomerates of the Mississagi
formation have eroded and channeled their way through the underling strata,
including most of the gold-enriched Matinenda formation. As a result of this
erosion, the Mississagi formation in this wide channel became significantly
enriched with gold in a long-lived placer river setting. This interpreted trend
extends from approximately 700 metres north of the 007 Zone to 850 metres south
of the Godzilla Zone for a total of 2,000 metres north-south. The width of this
interpreted channel may exceed 500 metres in places.


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.


The 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 were 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Ginguro Exploration Inc.
Richard Murphy
President and CEO
(705) 222-8800
info@ginguro.com
www.ginguro.com

(TSXV:GEG)
Historical Stock Chart
From May 2024 to Jun 2024

(TSXV:GEG)
Historical Stock Chart
From Jun 2023 to Jun 2024