Goff Corp. Subsidiary Golden Glory Resources Outlines Multi-million Ounce Gold Potential Including Bonanza Zones On Gavia Gold Project In Marmato, Colombia
Goff Corporation subsidiary Golden Glory Resources Inc. outlines further details about the multi-million ounce gold potential, including some bonanza zones, on its highly prospective gold property in the Marmato Region, Colombia
MEDELLIN, Colombia, Apr 08, 2013 (GLOBE NEWSWIRE via COMTEX) -- via PRWEB - Goff Corporation's ("Goff" or "the Company") (OTCQB:GOFF) wholly owned subsidiary Golden Glory Resources Inc. is gaining more detailed understanding of its newly acquired leases on the Gavia Gold Project in the Marmato region of Caldas District, Colombia. The Company further outlines of the multi-million ounce gold potential on the property, including high-grade epithermal type gold and certain bonanza zones.
The Company is in the process of evaluating all data collected on the Gavia Gold Project and preparing for detailed technical analysis from the Company's geological and in country teams. The emerging data indicates several very important aspects of the leases revealed by ground exploration and sampling previously carried out. According to the published reports:
-- The Gavia zone has minimum dimensions of 900 meters x 400 meters as defined by gold in soil values exceeding 0.1 g/t (100 parts per billion).
-- The Gavia zone alone could contain in excess of 200 million tonnes to a depth of 250 meters possibly grading 3 g/t gold or potentially 20 million ounces of contained gold.
-- The basis of the 250 meters depth is based largely on the elevation difference of the property in which gold mineralization is known to occur.
-- Extensive underground tunnel sampling carried out 50 meters below the surface has outlined a stockwork system of quartz-sericite veins and veinlets at least 100 meters wide and open in three areas. Based on sampling results, it appeared to average between 2.2-4.5g/t gold, and much higher (more than 10 g/t gold) if known bonanza zones were included.
Management's initial interpretation is that the mineral could probably be extracted by low-cost, open-cut mining if it is very close to the surface. Importantly, the review of mining data from ground samples, chip sampling and the tunnels on the Gavia Gold Project support the model that it shows potential as a true epithermal style gold project which, worldwide tends to host the world's largest gold deposits.
Goff Corporation President Warwick Calasse states, "We are expanding our understanding of the Gavia Gold Project and using the data available to guide our direction for exploration of this highly prospective gold project. The early information suggesting that there are high grade, bulk tonnage type gold targets is exactly what we were looking for to increase our Colombian gold efforts. This project could move quickly into the lead on our gold exploration initiatives. If the figures from our detailed technical evaluation and on-ground efforts bear out that this is indeed a potential multi-million ounce gold target (or gold-silver), then we are immediately on a whole new level of gold values that ultimately can end up in the multi-billions of dollars."
In addition, management has stated that the Company is currently evaluating other gold properties in the Caldas region of Colombia that are under consideration as potential acquisition targets.
About Goff Corporation
Goff Corporation is a U.S.-based public company. Its wholly owned subsidiary, Golden Glory Resources S.A. is engaged in gold exploration with a view to developing highly prospective gold projects. The Company is assessing multiple projects for their potential as gold and silver prospects. Colombia is currently one of the leading gold mining areas in the world producing over 55,509 kilograms of gold (2011), primarily from the region where Goff's subsidiary Golden Glory Resources holds leases. |
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