TORONTO, ONTARIO-(Marketwire - June 5, 2012) - SearchGold Resources Inc. (the "Company" or "SearchGold") (TSX VENTURE: RSG)(FRANKFURT:S1O)
is pleased to announce the details regarding the 2012 exploration work program on its Gueguere gold property ("Gueguere") located in Burkina Faso, West Africa. The Gueguere Project consists of two exploration licences namely Zogyon and Oronkua.
Exploration commenced in April 2012 focusing on stream geochemical sampling, mapping, trenching and sample analysis, as described below:
Stream Sediment Sampling: The Gueguere Licences have higher relief and a reasonably developed drainage system that will enable rapid coverage by stream geochemical sampling.
Mapping: The objective of the mapping program is to record structural features, regolith characteristics, ground-truthing of available geophysics and identify areas of artisanal workings.
Trenching: Approximately five trenches are planned across the strike of the mineralization reported by Orezone Gold Corporation ("Orezone") (TSX VENTURE:ORE) (see SearchGold PR of June 9, 2011) in the southern part of the Zogyon Licence. The objective is to further define the structure and associated gold mineralization.
In early 2011, a high-resolution airborne magnetic geophysical survey was carried out by Xcalibur on 100 metre spaced lines.
Immediately to the south of the Gueguere southern border, where SearchGold's obtained surface rock sample gold values grading up to 10 g/t Au associated with quartz veins and historical artisanal workings, Indigo Exploration Inc. ("Indigo") (TSX VENTURE:IXI) reported a reverse circulation ("RC") drill hole intersection of 7.0 m grading 29.67 g/t Au on Vein 3. A subsequent intersection of 1.77 m grading 11.02 g/t was obtained in drill core about 40 m beneath the RC intersection. Furthermore, approximately 1,400 m south of the RC intersection a 3.10 m interval of drill core returned a grade of 6.16 g/t Au. (see Indigo PRs dated April 11th and October 26th, 2011).
The Gueguere Project is located in southwest Burkina Faso within the Boromo Birimian greenstone belt, between the Poura Mine, that produced over 800,000 oz prior to closing in 1999, and Orezone's Bondi project hosting 282,000 ounces of Measured and Indicated gold grading 2.1 g/t and 149,700 ounces Inferred Resource estimate grading 1.8 g/t pursuant to the February 2009 Orezone Gold Corp NI 43-101 Report on the Bondi Project. Qualified Person approved by SearchGold has not verified the above mentioned data.
About SearchGold Resources:
SearchGold is a Canadian-based mining exploration company whose primary mission is to target, explore and advance precious and base metal properties of merit in Africa. The Company currently has mineral Interests in Burkina Faso, Gabon and Guinea.
Except for statements of historical fact contained herein, the information in this press release may constitute "forward-looking information" within the meaning of Canadian securities law. Other than statements of historical fact, all statements are "forward-looking statements", including statements concerning the joint venture and the Company's African projects and its involvement thereof, such factors and/or events involve various known and unknown risk and uncertainties and other factors, such as market conditions. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned to not place undue reliance on these "forward-looking statements". Except as otherwise required by applicable securities statutes or regulation, SearchGold expressly disclaims any intent or obligation to update public forward-looking information, whether as a result of new information, future events or otherwise.
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.
SearchGold Resources Inc.
President and Chief Executive Officer
647 344 4222