G4G Resources Provides Update on Guatemala Iron Sands
27 Agosto 2010 - 1:03PM
Marketwired Canada
G4G Resources Ltd. ("G4G", "the Company") (TSX VENTURE:GXG) is pleased to
provide an update on the Guatemala Iron Sands project which was announced on May
10, 2010.
With the aim of identifying prospective exploration areas within the Off-Shore
Reconnaissance License, the Company conducted sampling within an area starting
near the Port of San Jose, Guatemala, and extending approximately sixty-eight
kilometres to the west. Auger sampling was conducted on the shore line at
approximately one kilometre spacing, together with a series of ocean-floor grab
samples also spaced at approximately one kilometre and approximately one
kilometre parallel to the shore line. All samples were subjected to XRF analysis
by ACME and ALS Chemex Laboratories of Vancouver, B.C.
Basil Botha, President and CEO stated, "The auger and ocean floor sample results
provide management with a great deal of confidence in the potential of the iron
sands in Guatemala. More importantly, the assays highlight several potential
target areas for exploration along the 250km shoreline. The reported iron
content (Fe2O3) of the titanomagnetite iron sands is similar to other successful
iron sands projects and is very encouraging."
The table below summarizes composite samples taken from a number of sample areas
along the shore line and off-shore. The average grade for 28 auger samples on
the shore line is 18.06% Fe2O3 and the average grade for 64 ocean floor grab
samples is 6.62% Fe2O3.
Recoveries of the on-shore samples produced a 100% recovery and the results are
reliable. While recoveries of the off-shore samples were poor, the assay results
provide reliable data to delineate areas of potential interest. Due to the
sampling methods used, for seafloor sampling resulted in a considerable loss of
fine material and only those samples richer in clay and lime produced better
recoveries. The data acquired is useful to delineate areas enriched in heavy
minerals. Further coring tests should be performed to recover representative
samples.
Sample SHORE LINE OCEAN
# Fe2O3 Al2O3 SiO2 MgO TiO2 Fe2O3 Al2O3 SiO2 MgO TiO2
16751 15.59 14.78 48.34 10.15 1.15
16752 12.80 16.76 50.05 7.81 1.00
16753 11.87 17.63 50.71 6.57 0.97
16754 11.77 17.32 50.62 6.76 0.99
16755 11.79 17.29 51.04 6.85 0.97
16756 11.67 17.29 51.27 6.91 0.94
16757 11.13 17.56 51.55 6.30 0.93
16758 12.58 16.76 51.09 7.76 1.00
16759 12.27 16.98 50.58 7.09 1.03
16760 14.03 16.29 49.74 7.88 1.12
16761 16.50 15.32 48.45 8.78 1.34
16762 16.25 15.33 48.18 8.65 1.31
16763 25.58 10.12 42.66 12.44 2.12
16764 25.99 10.00 42.45 11.95 2.19
16765 22.34 9.87 44.90 13.32 1.71
16766 7.80 18.75 49.31 3.11 0.79
16767 13.48 13.62 50.84 10.48 0.92
16768 5.93 16.50 54.85 3.54 0.53
16769 5.48 15.63 56.69 3.46 0.39
16770 18.92 12.24 47.71 10.32 1.47
16771 22.07 12.14 46.01 9.71 1.90
16772 17.02 12.56 49.34 9.64 1.32
16773 20.44 12.21 46.96 9.69 1.69
16774 6.93 19.48 55.32 3.65 0.65
16776 32.76 8.89 37.42 10.99 3.00
16777 28.18 9.84 40.64 10.10 2.53
16778 28.67 9.40 40.38 10.82 2.58
16779 8.01 18.64 49.44 3.46 0.78
16780 7.37 16.83 51.53 3.65 0.67
16781 8.81 17.73 47.00 4.43 0.90
16782 5.86 16.65 55.03 3.30 0.53
16783 7.45 17.54 51.34 3.71 0.72
16784 5.72 10.95 33.20 4.46 0.50
16785 5.29 10.16 30.13 4.54 0.46
16787 6.99 17.22 44.05 3.61 0.73
16789 6.02 15.64 41.50 3.44 0.63
16790 2.56 6.04 16.74 4.20 0.23
16791 8.07 19.38 50.20 3.33 0.78
16792 6.65 16.68 43.80 3.77 0.63
16793 7.88 18.80 47.93 4.08 0.78
16794 7.21 17.47 46.00 4.23 0.65
16795 7.16 17.21 45.27 4.20 0.61
16796 5.16 12.21 34.03 4.35 0.39
16797 5.02 11.31 32.21 4.59 0.40
16798 8.39 17.57 47.39 4.72 0.68
16799 6.70 14.54 41.00 4.74 0.57
16800 8.23 17.33 46.94 4.83 0.71
23001 3.34 7.55 22.14 4.70 0.24
23002 4.38 9.49 27.75 4.73 0.34
23003 7.83 16.01 44.02 4.82 0.66
23004 33.78 8.60 35.00 10.94 3.24
23005 23.50 11.09 42.57 11.01 2.08
23006 14.89 13.77 50.00 8.72 1.27
23007 13.00 15.70 50.85 7.19 1.16
23008 7.91 16.55 46.45 4.87 0.78
23009 7.88 15.67 44.67 4.94 0.74
23010 7.32 15.69 45.46 4.98 0.67
23011 1.93 5.17 14.52 5.22 0.16
23012 7.52 17.70 49.80 4.66 0.76
23013 6.76 18.17 48.26 3.40 0.78
23014 7.68 17.74 49.51 4.56 0.67
23015 6.84 14.68 42.83 4.92 0.61
23016 5.30 13.25 36.81 4.01 0.53
23017 9.21 14.95 42.32 5.78 0.88
23018 4.35 11.11 32.43 4.70 0.37
23019 2.67 7.16 20.97 5.18 0.22
23020 4.68 13.03 32.58 3.60 0.57
23021 6.84 14.28 40.18 4.84 0.69
23022 2.94 8.03 21.06 4.85 0.31
23023 8.21 17.89 49.17 4.47 0.82
23024 5.96 14.50 41.28 4.22 0.60
23025 6.24 16.41 46.01 3.91 0.61
23026 5.44 14.93 41.35 3.72 0.58
23027 5.21 14.18 37.04 3.89 0.55
23028 8.58 17.68 50.37 4.42 0.78
23029 7.10 17.58 51.55 3.67 0.67
23030 7.81 17.86 49.00 3.74 0.71
23031 8.44 17.63 48.84 4.27 0.75
23032 7.44 18.48 50.49 3.24 0.74
23033 7.10 18.83 51.27 2.87 0.79
23034 6.49 18.15 50.00 3.07 0.66
23035 7.59 17.41 48.63 4.46 0.67
23036 7.12 18.78 53.00 3.49 0.63
23037 7.72 18.72 51.41 4.11 0.74
23038 7.52 18.80 51.03 4.16 0.72
23039 6.73 17.96 51.15 3.33 0.61
23040 8.06 18.11 49.95 4.31 0.71
23041 7.27 18.23 51.43 3.79 0.63
23042 7.31 17.74 49.22 4.36 0.65
23043 7.83 17.54 49.47 4.43 0.77
23044 6.82 17.52 50.81 3.94 0.69
AVERAGE 18.06 13.89 47.31 9.02 1.52 6.62 15.59 43.65 4.16 0.62
Samples and assays reported in this news release were collected under the
supervision of Raul Sanabria, P.Geo., who is the Qualified Person for G4G
Resources Ltd. under NI 43-101. Mr. Sanabria has reviewed and verified the
technical disclosure contained in this press release.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development
company focused on a number of low cost iron ore projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on
current expectations, including, but not limited to timing of mineral resource
estimates, future exploration or project development programs and the impact on
the Company of these events. Forward-looking information is subject to
significant risks and uncertainties, as actual results may differ materially
from forecasted results. Forward-looking information is provided as of the date
hereof and we assume no responsibility to update or revise them to reflect new
events or circumstances, except as required under securities laws. For a
detailed list of risks and uncertainties, as it relates to G4G Resources Ltd.,
please refer to the Company's 2009 Audited Financial Statements filed with SEDAR
on April 30, 2010.
Should you wish to receive Company news via email, please email
ir@g4gresources.com and specify "G4G News" in the subject line.
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