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Chispa De Oro

The company is currently drilling on the Chispa De Oro target. The geological team believes that the Chispa De Oro alteration zone is a high sulphidation system based on rock mineralogy and field observations. With significant results of gold and silver on surface and through initial drill results, Chispa De Oro remains a high priority target.

Within the Chispa De Oro project, exploration is being focused on a network of high sulphidation epithermal breccia zones within an extended large 2.5Km x 750m oxidized alteration zone containing widespread disseminated gold and silver. Chispa shares many similarities with other high sulphidation epithermal gold and silver deposits around the world including: Yanacocha and Tucari in Peru, some of the largest gold deposits in the world.

The following tables feature highlights from the sampling data collected so far.

Highlights of The High Grade Trenches from PR4-2012 (February 9, 2012)

Sample
Interval
  (m)
Gold Equivalent
(g/t)*
Gold
(g/t)
Silver
(g/t)
SDL-780
40
5.81
1.05
218.8
SDL-778
16
3.36
1.99
63.16
SDL-779
28
1.34
0.34
45.82

*Silver/Gold ratio of 46:1 used for Gold Equivalent.
(Metallurgical recoveries and net smelter returns are assumed to be 100%) The orientation of the mineralization is not yet determined.


Highlights from Trenches at Chispa De Oro from PR2-2012 (January 31, 2012)

Sample Line Interval
(m)		 Gold Equivalent
(g/t)*		 Gold
(g/t)		 Silver
(g/t)
SDL-609 12 0.63 0.18 20.66
SDL-611 18 0.6 0.18 19.33
SDL-614 12 1.4 0.9 22.83
SDL-623 30 1.03 0.21 37.92
and SDL-623 6 0.59 0.14 20.66
SDL-624 20 0.92 0.24 31.2
SDL-625 6 0.61 0.17 20.28
SDL-626 10 0.78 0.29 22.6
SDL-628 68 0.37 0.13 10.88
SDL-630 36 0.99 0.32 30.7
SDL-633 4 1 0.36 29.5
SDL-646 12 1.14 0.47 30.66
SDL-647 16 1.64 1.15 22.62
SDL-648 86 0.83 0.3 24.32
SDL-649 22 0.92 0.27 29.9
SDL-651 8 0.75 0.14 28.25
SDL-652 10 0.5 0.14 16.5
SDL-654 10 0.93 0.14 36.2
SDL-655 22 4.26 0.83 157.59
SDL-656 62 0.64 0.123 23.61
SDL-657 14 0.49 0.19 13.57
SDL-659 14 0.66 0.18 22
SDL-660 22 0.45 0.19 12
SDL-662 14 1.76 0.77 45.42
SDL-663 12 0.41 0.12 13.16
SDL-665 8 1.14 0.37 35.5
SDL-666 6 1.22 0.18 48
SDL-667 28 0.87 0.27 27.57
SDL-669 8 0.86 0.2695 27
SDL-676 12 0.52 0.15 17
SDL-677 36 0.46 0.08 17.27
SDL-687 10 0.71 0.28 19.8
SDL-689 20 0.54 0.3 11
SDL-696 8 0.58 0.31 12.25
SDL-698 14 0.52 0.23 13.14
SDL-705 52 0.5 0.14 16.34
SDL-709 48 0.48 0.23 11.45
SDL-714 12 0.44 0.12 14.83
SDL-716 10 0.69 0.32 17
SDL-717 18 1.74 0.62 51.33
SDL-718 14 0.63 0.37 12
SDL-720 6 3.62 3.24 17.33
SDL-724 6 0.67 0.3 17
SDL-725 20 0.34 0.13 9.6
SDL-734 30 0.57 0.09 22.27
SDL-735 30 1.29 0.08 55.44
SDL-736 14 1.29 0.08 55.44
SDL-736 22 0.65 0.07 26.9
SDL-740 34 0.56 0.09 21.7
SDL-758 6 1.06 0.63 19.66
SDL-766 4 0.76 0.61 7
SDL-767 4 0.77 0.29 22
SDL-771 6 0.54 0.16 17.33
SDL-771 46 0.56 0.24 14.71
SDL-772 34 1.78 0.85 42.83
SDL-776 4 1.66 0.7 44

*Silver/Gold ratio of 46:1 used for Gold Equivalent.
(Metallurgical recoveries and net smelter returns are assumed to be 100%)
The orientation of the mineralization is not yet determined.

 

Highlights of Trenches at Chispa De Oro from PR13-2011 (August 10, 2011)

Sample Interval
(m)		 Gold Equivalent
(g/t)*		 Gold (g/t) Silver (g/t)
SDL-505 40 0.41 0.11 13.87
SDL-508 48 0.43 0.14 13.38
SDL-514 18 0.48 0.25 10.67
SDL-515 4 1.07 0.25 38
SDL-516 18 1.28 0.38 41.44
SDL-517 14 1.82 0.47 62.14
SDL-518 10 0.69 0.15 24.6
SDL-520 110 0.5 0.16 15.54
SDL-521 18 1.29 0.3 45.7
SDL-540 28 0.45 0.14 14.21
SDL-541 16 0.53 0.11 19.25
SDL-543 6 0.48 0.17 14.67
SDL-545 6 1.07 0.37 32.33
SDL-546 10 0.77 0.46 14.4
SDL-547 8 0.41 0.18 10.25
SDL-550 4 0.57 0.08 22.5
SDL-551 4 3.09 1.17 88.45
SDL-552 6 0.93 0.78 7
SDL-553 8 1.01 0.82 8.75
SDL-555 8 0.51 0.28 10.5
SDL-558 8 2.65 2.46 8.75
SDL-559 10 1.6 1.22 17.6
SDL-563 6 1.2 1.12 3.66
SDL-565 16 0.72 0.43 13.25
SDL-566 4 1.03 0.74 13.5
SDL-568 4 0.89 0.63 12
SDL-578 102 0.5 0.29 9.5
SDL-584 18 0.44 0.15 13.22
SDL-589 4 1.51 0.61 41.5
SDL-590 6 0.75 0.41 15.66
SDL-593 4 0.74 0.53 10
SDL-594 20 0.42 0.16 11.8
SDL-596 18 1.74 0.37 62.71
SDL-601 6 4.87 4.14 33.66
SDL-602 4 1.29 0.74 25.5
**SDL-603 **24 9.72 7.62 96.48
SDL-606 16 1.18 0.36 37.75

*Silver/Gold ratio of 46:1 used for Gold Equivalent. (Metallurgical recoveries and net smelter returns are assumed to be 100%)
The orientation of the mineralization is not yet determined.
**SDL-603 is along strike of the structure.


Additional Trenches Containing Significant Gold and Silver Mineralization at Chispa De Oro from PR13-2011 (August 10, 2011)

Sample Interval
(m)		 Gold Equivalent
(g/t)*		 Gold (g/t) Silver (g/t)
SDL-500 12 0.23 0.05 8.19
SDL-501 44 0.18 0.04 6.57
SDL-503 86 0.31 0.09 10.57
SDL-504 32 0.32 0.09 10.39
SDL-506 26 0.27 0.07 9.36
SDL-507 40 0.39 0.07 14.55
SDL-507 30 0.21 0.03 8.35
SDL-507 46 0.22 0.08 6.43
SDL-509 16 0.35 0.08 12.63
SDL-510 8 0.3 0.1 9.5
SDL-511 20 0.24 0.07 7.5
SDL-512 12 0.24 0.05 8.67
SDL-519 6 0.13 0.05 4
SDL-524 6 0.17 0.11 2.67
SDL-537 8 0.17 0.03 6.5
SDL-538 14 0.33 0.08 11.43
SDL-539 6 0.14 0.05 4.33
SDL-542 56 0.25 0.07 8.54
SDL-544 32 0.27 0.15 5.88
SDL-548 20 0.38 0.21 7.8
SDL-564 6 0.24 0.17 3.33
SDL-579 62 0.21 0.06 6.67
SDL-580 34 0.23 0.05 8.41
SDL-581 56 0.38 0.13 11.6
SDL-582 16 0.14 0.06 3.62
SDL-583 4 0.27 0.07 9
SDL-588 12 0.2 0.12 3.66
SDL-592 6 0.32 0.1 10
SDL-595 28 0.28 0.09 8.78
SDL-597 14 0.36 0.08 12.85
SDL-598 24 0.35 0.07 12.91
SDL-599 8 0.2 0.04 7.5

*Silver/Gold ratio of 46:1 used for Gold Equivalent. (Metallurgical recoveries and net smelter returns are assumed to be 100%)
The orientation of the mineralization is not yet determined.


Sample Protocol and Trench Techniques

Samples were collected on surface and underground with hammer and chisel along a continuous line of exposed rock. Fragments or chip samples from a channel approximately 5cm or less in depth were collected in numbered plastic sample bags, and approximately 2 to 3 kg of rock was collected. Sample intervals are marked on the rock with spray paint along with the sample number. All samples collected by GoGold were supervised by Ramon Luna P.Geo. These samples were bagged, tagged and sealed at the sample site and delivered to ACTLAB in Zacatecas, Mexico.

All samples were processed by method (A.A) Atomic Absorption FAG323 and ICP14. All samples were first assayed by method FAG323 for gold and silver which has detection limits for Au of 3 g/t and Ag 5 g/t. A 30g sample was assayed by Fire Assay with an AAS finish for Au and a gravimetric finish for Ag.

Lab Preparation

The sealed and bagged sample bags are turned over to ActLabs personnel at the site who transport them to the ActLabs sample preparation facility in Zacatecas, Mexico. ActLabs crushes the samples and prepares 200-300 gram pulp samples. Ninety percent of the pulp will pass Tyler 150 mesh (106 um). The pulps are sent to ActLabs in Canada for analysis for Au/Ag fire assays with a gravimetric finish and ICP-41 for all the other elements. This process is expected to continue as additional core continues to arrive.

 

Mr. Ramon Luna P.Geo is the qualified person as defined by National Instrument 43-101.