Ginguro Exploration Inc.
is a resource exploration company.
GEG.V / GNGXF
Shares outstanding 56 M
Fully Diluted 67 M
The Company engaged in the acquisition, exploration and advancement of gold properties in the Americas.
The Company is targeting the large-scale Precambrian paleo-placer gold deposit in North America, at its Pardo, Four Corners, and Grigg/Stobie Gold properties.
The Company’s Pardo paleo-placer gold property is located approximately 65 kilometers north-east of Sudbury, Ontario.
The Company owns a 100% interest in 87.5 square kilometers of claims and a 55% interest in a further 33 square kilometers of claims.
The Four Corners Property is a 59 square kilometers 100%-owned property located approximately 70 kilometers northeast of Sudbury, Ontario.
Pardo Property (Ontario, Canada)
• 113 sq. km. Paleo-placer Gold property 65 km north-east of Sudbury , Ontario
• Gold bearing conglomerate “reefs” possessing large tonnage potential
identified over a 10 km by 3 km extent.
• 100% interest in 80 sq. km. of claims.
•55% JV interest in 33 sq. km. of claims with Endurance Gold
•Recent identification of carbon associated with uranium and gold, strongly supports Witwatersrand exploration model
• Geological team with extensive Witwatersrand experience overseeing and executing exploration program.
• Major gold-hosting unconformity recently identified
•Basin analysis underway - will drive next phase of drilling in Q3
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.
This presentation from the company provides a nice summary of the general geologic characteristics of paleoplacer deposits,
as well as some specifics about the company's claims:
This is a more general description of the geology and discovery of the mother of all paleoplacer deposits,
the Witwatersrand deposits of South Africa (source of 40% of the gold ever mined on earth):
More details later
Ginguro Announces Commencement of Arbitration Proceedings Relating to the Pardo Joint Venture |
SUDBURY, ONTARIO--(Marketwired - Oct. 24, 2013) - Ginguro Exploration Inc. (TSX VENTURE:GEG) ("Ginguro") announces today that it is commencing arbitration proceedings against Endurance Gold Corporation ("Endurance") to enforce Ginguro's rights under the joint venture (the "Joint Venture") formed pursuant to the provisions of a joint venture agreement dated March 22, 2012 (the "Joint Venture Agreement") relating to the Pardo property located approximately 65 kilometers north-east of Sudbury, Ontario, Canada (the "Pardo Property"). Ginguro held an initial Joint Venture interest of 55%. However, after completing a program fully funded by Ginguro, as Endurance did not financially contribute or participate in the program, Ginguro's interest increased to 70.95% and Endurance's Joint Venture interest decreased from 45% to 29.05%.