Gonzaga Initiates Exploration Program on Kennedy Lake Project
October 07 2011 - 9:30AM
Marketwired
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.
Contacts: Gonzaga Resources Ltd. Darren Devine Director
1-604-638-8067 1-604-648-8105 (FAX)