GoGold Announces Initial Mineral Resource Estimate at Los Ricos North
GoGold Announces Initial Mineral Resource Estimate at Los
Ricos North
TSX: GGD
OTCQX: GLGDF
HALIFAX, NS
,
Dec. 7, 2021
/CNW/ -
GoGold Resources Inc.
(TSX: GGD) (OTCQX: GLGDF)
("GoGold", "the Company")
is
pleased to announce their Initial Mineral Resource Estimate for their Los Ricos North Project located in Jalisco State,
Mexico
. In
addition, the Company has updated the Mineral Reserve at the Parral Tailings operation.
Highlights of the Mineral Resource Estimate:
Indicated Mineral Resource at Los Ricos North of 87.8 million ounces silver equivalent ("AgEq") grading 122 g/t AgEq
contained in 22.3 million tonnes ("Mt") (Table 1)
Inferred Mineral Resource at Los Ricos North of 73.2 million ounces AgEq grading 111 g/t AgEq contained in 20.5 Mt (Table
1)
Sensitivity analysis of pit constrained Mineral Resources at higher cut-off of 50 g/t AgEq show an Indicated Mineral Resource
of 80.3 million ounces AgEq grading 147 g/t AgEq and an Inferred Mineral Resource of 60.7 million ounces AgEq grading 129
g/t AgEq (Figure 1) (Table 2)
Los Ricos North Mineral Resource is calculated as a pit constrained Mineral Resource forming 96% of the Mineral Resource
Estimate, with 4% being out-of-pit Mineral Resource (Indicated 0.9 million ounces AgEq grading 163 g/t AgEq and Inferred
6.4 million ounces grading 178 g/t AgEq)
Total Los Ricos Measured & Indicated Mineral Resources of 151.5 million ounces AgEq (Table 3)
Total Los Ricos Inferred Mineral Resource of 93.1 million ounces AgEq (Table 3)
Total Company Measured & Indicated Mineral Resources of 187.5 million ounces AgEq (Table 4)
Total Company Inferred Mineral Resources of 93.1 million ounces AgEq (Table 4)
In Los Ricos North, an additional 100,000 metres of exploration drilling targeting additional Mineral Resource ounces is
planned for 2022
"The initial Mineral Resource Estimate at Los Ricos North exceeds expectations for the first 100,000 metres of drilling on these
targets. As we embark on the next 100,000 metres of drilling at Los Ricos North, we feel confident in our understanding of the
deposits and the exploration potential in 2022 to greatly increase this already substantial Mineral Resource," said
Brad Langille
,
President and CEO. "In particular, we see El Favor East and a new area called Gran Cabrera as being major contributors to the
growth of ounces over the coming year. With this Mineral Resource, we now show an Indicated Mineral Resource of 151 million
ounce AgEq and an Inferred Mineral Resource of 93 million ounces AgEq in the Los Ricos District - North and South."
The effective date of these Mineral Resource Estimates is
December 1, 2021
and a Technical Report on Los Ricos North will be
filed on the Company's website and SEDAR within 45 days of this news release. The Los Ricos North Mineral Resource Estimate
by deposit is provided below in Table 1.
Table 1: Los Ricos North Mineral Resource Estimate
(1-11)
Deposit
Tonnes
Average Grade
Contained Metal
Au
Ag
Cu
Pb
Zn
AuEq
AgEq
Au
Ag
Cu
Pb
Zn
AuEq
AgEq
(Mt)
(g/t)
(g/t)
(%)
(%)
(%)
(g/t)
(g/t)
(koz)
(koz)
(Mlb)
(Mlb)
(Mlb)
(koz)
(koz)
Indicated:
El Favor
7.7
0.27
98
-
-
-
1.61
119
68
24,413
-
-
-
399
29,454
Casados
3.2
0.42
124
-
-
-
2.09
154
43
12,871
-
-
-
218
16,061
La Trini
3.1
0.54
74
-
-
-
1.54
114
54
7,428
-
-
-
155
11,424
Mololoa
0.4
0.36
130
-
-
-
2.12
157
5
1,788
-
-
-
29
2,161
Silver-Gold
Oxide Zone
14.5
0.37
100
-
-
-
1.71
127
171
46,500
-
-
-
801
59,100
El Orito Sulfide
Zone
1
7.8
0.06
28
0.11
0.88
1.33
1.55
114
15
7,011
19
151
229
389
28,708
Total Indicated
22.3
1.66
122
186
53,510
1,190
87,808
Inferred:
El Favor
12.4
0.27
89
-
-
-
1.47
108
106
35,505
-
-
-
587
43,350
Casados
1.8
0.35
108
-
-
-
1.82
135
21
6,323
-
-
-
106
7,843
La Trini
0.1
0.43
108
-
-
-
1.89
139
1
201
-
-
-
4
260
Mololoa
0.7
0.39
94
-
-
-
1.66
122
9
2,102
-
-
-
37
2,739
Silver-Gold
Oxide Zone
15.0
0.28
91
-
-
-
1.52
112
136
44,131
-
-
-
734
54,191
El Orito Sulfide
Zone
1
5.5
0.06
28
0.12
0.74
1.20
1.46
108
11
4,888
15
90
146
258
19,007
Total Inferred
20.5
1.51
111
148
49,019
992
73,198
1.
El Orito is a silver-base metal sulfide zone, all other deposits are silver-gold oxide zones.
2.
Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources
may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
3.
The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and
must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be
upgraded to an Indicated Mineral Resource with continued exploration.
4.
The Mineral Resources in this news release were estimated in accordance with the Canadian Institute of Mining, Metallurgy and
Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines (2014) prepared by the CIM Standing
Committee on Reserve Definitions and adopted by the CIM Council and CIM Best Practices (2019).
5.
Historically mined areas were depleted from the Mineral Resource model.
6.
Approximately 98.9% of the indicated and 91.3% of the Inferred contained AgEq ounces are pit constrained, with the remainder out-
of-pit. See tables 4 and 6 for details of the split between pit constrained and out-of-pit deposits.
7.
The pit constrained AgEq cut-off grade of 29 g/t Ag was derived from US$1,550/oz Au price, US$21/oz Ag price, $3.66$/lb Cu, $0.90
$/lb Pb, $1.26 $/lb Zn, 93% process recovery for Ag and Au, 90% process recovery for Cu, 80% process recovery for Pb and Zn,
US$18/tonne process and G&A cost. The constraining pit optimization parameters were $2.00/t mineralized mining cost, $1.50/t waste
mining cost and 50-degree pit slopes.
8.
The out-of-pit AuEq cut-off grade of 119 g/t Ag was derived from US$1,550/oz Au price, US$21/oz Ag price, $3.66$/lb Cu, $0.90 $/lb
Pb, $1.26 $/lb Zn, 93% process recovery for Ag and Au, 90% process recovery for Cu, 80% process recovery for Pb and Zn, $57/t mining
cost, US$18/tonne process and G&A cost. The out-of-pit Mineral Resource grade blocks were quantified above the 119 g/t AgEq cut-
off, below the constraining pit shell within the constraining mineralized wireframes and exhibited sufficient continuity to be considered
for cut and fill and longhole mining
9.
No Mineral Resources are classified as Measured.
10.
AgEq and AuEq calculated at an Ag/Au ratio of 73.8:1.
11.
Totals may not agree due to rounding
Figure 1: Los Ricos North Block Model Visualization (CNW Group/GoGold Resources Inc.)
Figure 2: AgEq Cut-off Sensitivities – Pit Constrained Mineral Resource (CNW Group/GoGold Resources Inc.)
Table 2: Cut-off Sensitivities – Pit Constrained Mineral Resource
1
Cut-off
(AgEq)
Tonnes
Average Grade
Contained Metal
Pit
Constrained
Au
Ag
AuEq
AgEq
Au
Ag
AuEq
AgEq
(g/t)
(Mt)
(g/t)
(g/t)
(g/t)
(g/t)
(koz)
(koz)
(koz)
(koz)
Indicated
50
17.0
0.31
89
1.99
147
170
48,811
1,088
80,288
40
19.5
0.28
81
1.81
134
177
51,061
1,138
83,951
29
22.1
0.26
74
1.65
122
183
52,886
1,177
86,862
20
23.7
0.24
70
1.57
116
185
53,681
1,194
88,106
Inferred
50
14.7
0.26
85
1.74
129
121
40,312
823
60,735
40
17.2
0.23
78
1.58
116
128
42,834
872
64,380
29
19.4
0.21
71
1.45
107
133
44,456
905
66,814
20
20.8
0.20
68
1.38
102
135
45,181
921
67,951
1.
See Table 1 notes for assumptions
Mineral Resource Estimate Methodology – Los Ricos North
A total of 503 drill holes totalling 106,982 metres were used in the Mineral Resource Estimate. The nearest neighbour mean
distance between drill hole collars is
23m
.
P&E Mining Consultants Inc. ("P&E") collaborated with GoGold personnel to develop the mineralization models, estimates, and
reporting criteria for the Mineral Resources at Los Ricos North. Mineralization models were initially developed by GoGold and
were reviewed and modified by P&E. A total of 21 individual mineralized domains have been identified through drilling and surface
sampling. The modeled mineralization domains are constrained by individual wireframes based on a 28 g/t AgEq cut-off.
Mineralization wireframes were used as hard boundaries for the purposes of grade estimation.
A
5m
x
2.5m
x
5m
three-dimensional block model was used for the Mineral Resource Estimate. The block model consists of
estimated Au and Ag grades, estimated bulk density, classification criteria, and a block volume inclusion percent factor. Ag
equivalent block grades were subsequently calculated from the estimated Au and Ag grades.
Sample assays were composited to
1.00m
standard length composites. Au and Ag grades were estimated using Inverse Distance
Cubed weighting of between 4 and 12 composites, with a maximum of 3 composites per drill hole. Composites were capped prior
to estimation by mineralization domain. Composite samples were selected within an anisotropic search ellipse oriented parallel to
the axes of the modeled domains.
The average bulk density by deposit was assigned for the Mineral Resource Estimate.
Classification criteria were determined from observed grade and geological continuity as well as variography. Indicated Mineral
Resources are informed by 3 or more drill holes within
50m
.
P&E's Qualified Persons are of the opinion that the Mineral Resource Estimates are suitable for public reporting and are a
reasonable representation of the mineralization and metal content of the Los Ricos North Deposits.
Table 3: Los Ricos Mineral Resources – Los Ricos North ("LRN") & Los Ricos South ("LRS")
(1-7)
Deposit
Tonnes
Average Grade
Contained Metal
Au
Ag
Cu
Pb
Zn
AuEq
AgEq
Au
Ag
Cu
Pb
Zn
AuEq
AgEq
(Mt)
(g/t)
(g/t)
(%)
(%)
(%)
(g/t)
(g/t)
(koz)
(koz)
(Ml
b
)
(Ml
b
)
(Ml
b
)
(koz)
(koz)
LRS Measured
1.1
1.10
152
-
-
-
2.84
249
39
5,464
-
-
-
102
8,917
Indicated:
LRN Oxide
1
14.5
0.37
100
-
-
-
1.71
127
171
46,500
-
-
-
801
59,100
LRS (Oxide)
2-6
8.8
0.89
115
-
-
-
2.20
193
253
32,588
-
-
-
626
54,765
LRN Sulfide
1
7.8
0.06
28
0.11
0.88
1.33
1.55
114
15
7,011
19
151
229
389
28,708
Total Indicated
31.1
1.93
143
439
86,099
1,816
142,573
Measured &
Indicated
32.2
1.98
146
478
91,563
1,918
151,490
Inferred:
LRN Oxide
1
15.0
0.28
91
-
-
-
1.52
112
136
44,131
-
-
-
734
54,191
LRS (Oxide)
2-6
3.3
0.88
112
-
-
-
2.17
190
93
11,781
-
-
-
227
19,884
LRN Sulfide
1
5.5
0.06
28
0.12
0.74
1.20
1.46
108
11
4,888
15
90
146
258
19,007
Total Inferred
23.8
1.65
122
240
60,800
1,219
93,082
1.
See Table 1 notes for assumptions
2.
See GoGold press release #29-2020 dated July 29, 2020 for full details regarding Los Ricos South Mineral Resource
estimate.
3.
The LRS pit constrained AuEq cut-off grade of 0.43 g/t Au was derived from US$1,400/oz Au price, US$16/oz Ag price,
93% process recovery, US$18/tonne process and G&A cost. The constraining pit optimization parameters were
$2.00/t mineralized mining cost, 1.50/t waste mining cost and 50-degree pit slopes.
4.
The LRS out-of-pit AuEq cut-off grade of 1.4 g/t Au was derived from US$1,400/oz Au price, US$16/oz Ag price, 93%
process recovery, $40/t mining cost, US$18/tonne process and G&A cost. The out-of-pit Mineral Resource grade
blocks were quantified above the 1.4 g/t AuEq cut-off, below the constraining pit shell and within the constraining
mineralized wireframes. Out–of-Pit Mineral Resources are restricted to the Los Ricos and Rascadero Veins, which
exhibit historical continuity and reasonable potential for extraction by cut and fill and longhole mining methods.
5.
No out-of-pit Mineral Resources are classified as Measured at LRS.
6.
AgEq and AuEq calculated at an Ag/Au ratio of 87.5 for LRS.
7.
Totals may not agree due to rounding.
Table 4: Company Wide Mineral Resources
(1-3)
Deposit
Tonnes
Average Grade
Contained Metal
Au
Ag
Cu
Pb
Zn
AuEq
AgEq
Au
Ag
Cu
Pb
Zn
AuEq
AgEq
(Mt)
(g/t)
(g/t)
(%)
(%)
(%)
(g/t)
(g/t)
(koz)
(koz)
(Mlb)
(Mlb)
(Mlb)
(koz)
(koz)
Measured:
LRS
1
1.1
1.10
152
-
-
-
2.84
249
39
5,464
-
-
-
102
8,917
Parral
2
6.8
0.35
32
-
-
-
0.77
58
76
6,897
-
-
-
168
12,532
Esmerelda
3
5.7
0.26
49
-
-
-
0.82
72
48
8,985
-
-
-
151
13,194
Total Measured
13.6
0.37
49
-
-
-
1.07
79
163
21,346
-
-
-
421
34,643
Indicated:
LRN Oxide
1
14.5
0.37
100
-
-
-
1.71
127
171
46,500
-
-
-
801
59,100
LRS (Oxide)
1
8.8
0.89
115
-
-
-
2.20
193
253
32,588
-
-
-
626
54,765
LRN Sulfide
1
7.8
0.06
28
0.11
0.88
1.33
1.55
114
15
7,011
19
151
229
389
28,708
Parral
2
6.0
0.35
34
-
-
-
0.81
60
68
6,525
-
-
-
157
11,554
Esmerelda
3
0.1
0.00
48
-
-
-
0.77
67
-
80
-
-
-
1
112
Total Indicated
37.2
1.75
129
507
92,704
1,974
154,239
Measured &
Indicated
50.8
1.57
116
670
114,050
2,395
188,882
Inferred:
LRN Oxide
1
15.0
0.28
91
-
-
-
1.52
112
136
44,131
-
-
-
734
54,191
LRS (Oxide)
1
3.3
0.88
112
-
-
-
2.17
190
93
11,781
-
-
-
227
19,884
LRN Sulfide
1
5.5
0.06
28
0.12
0.74
1.20
1.46
108
11
4,888
15
90
146
258
19,007
Total Inferred
23.8
1.65
122
240
60,800
1,219
93,082
1.
See Table 2 for LRN and LRS assumptions.
2.
Parral Mineral Resources are inclusive of Mineral Reserves – see Table 7.
3.
Esmerelda Mineral Resources are based on US$1,400/oz Au, US$16/oz Ag, operating costs of US$10.14/t and Au and
Ag process recoveries of 50% resulting in a AgEq cut-off grade of 41 g/t, calculated at an Ag/Au ratio of 87.5:1.
Table 5 –
Los Ricos North Mineral Resource Estimate – Pit Constrained
(1)
Deposit
Tonnes
Average Grade
Contained Metal
Au
Ag
Cu
Pb
Zn
AuEq
AgEq
Au
Ag
Cu
Pb
Zn
AuEq
AgEq
(Mt)
(g/t)
(g/t)
(%)
(%)
(%)
(g/t)
(g/t)
(koz)
(koz)
(Mlb)
(Mlb)
(Mlb)
(koz)
(koz)
Indicated:
El Favor
7.7
0.28
98
-
-
-
1.60
118
68
24,366
-
-
-
398
29,395
Casados
3.2
0.42
123
-
-
-
2.09
154
43
12,782
-
-
-
216
15,957
La Trini
3.0
0.54
72
-
-
-
1.51
112
52
6,970
-
-
-
146
10,781
Mololoa
0.4
0.37
129
-
-
-
2.12
156
5
1,770
-
-
-
29
2,139
Silver-Gold
Oxide Zone
14.3
0.37
100
-
-
-
1.72
127
168
45,888
-
-
-
789
58,272
El Orito Sulfide
Zone
7.8
0.06
28
0.11
0.89
1.32
1.55
114
15
6,997
19
151
227
387
28,591
Indicated
22.1
1.66
122
168
45,888
1,176
86,863
Inferred:
El Favor
11.7
0.25
85
-
-
-
1.41
104
95
32,053
-
-
-
529
39,051
Casados
1.8
0.35
107
-
-
-
1.79
132
20
6,014
-
-
-
101
7,464
Mololoa
0.6
0.37
85
-
-
-
1.52
112
7
1,619
-
-
-
29
2,134
Silver-Gold
Oxide Zone
14.1
0.27
88
-
-
-
1.45
107
122
39,686
-
-
-
659
48,649
El Orito Sulfide
Zone
5.3
0.07
28
0.12
0.73
1.17
1.44
106
11
4,768
14
85
137
246
18,162
Inferred
19.4
1.45
107
140
44,454
905
66,811
1.
See Table 1 notes for assumptions
Table 6 –
Los Ricos North Mineral Resource Estimate – Out-of-Pit
(1,2)
Deposit
Tonnes
Average Grade
Contained Metal
Au
Ag
Cu
Pb
Zn
AuEq
AgEq
Au
Ag
Cu
Pb
Zn
AuEq
AgEq
(kt)
(g/t)
(g/t)
(%)
(%)
(%)
(g/t)
(g/t)
(koz)
(koz)
(Mlb)
(Mlb)
(Mlb)
(koz)
(koz)
Indicated:
El Favor
11
0.45
131
-
-
-
2.23
164
0.2
47
-
-
-
0.8
59
Casados
18
0.38
154
-
-
-
2.46
182
0.2
88
-
-
-
1.4
105
La Trini
126
0.62
113
-
-
-
2.16
159
2.5
458
-
-
-
8.7
643
Mololoa
3
0.51
188
-
-
-
3.05
225
-
18
-
-
-
0.3
22
Silver-Gold
Oxide Zone
158
0.57
120
-
-
-
2.21
163
2.9
611
-
-
-
11.2
829
El Orito Sulfide
Zone
23
0.03
19
0.18
0.75
2.89
2.20
162
-
14
-
-
1
1.6
118
Indicated
181
2.20
163
2.9
625
12.8
947
Inferred:
El Favor
736
0.49
146
-
-
-
2.46
182
11.5
3,452
-
-
-
58.3
4,299
Casados
58
0.51
167
-
-
-
2.77
205
0.9
310
-
-
-
5.1
379
La Trini
56
0.44
111
-
-
-
1.95
144
0.8
199
-
-
-
3.5
257
Mololoa
103
0.50
145
-
-
-
2.47
182
1.7
482
-
-
-
8.2
605
Silver-Gold
Oxide Zone
953
0.49
145
-
-
-
2.45
181
14.9
4,443
-
-
-
75.1
5,540
El Orito Sulfide
Zone
163
0.03
23
0.27
1.05
2.23
2.19
161
0.1
121
1
4
8
11.4
845
Inferred
1,116
2.41
178
15.0
4,564
86.5
6,385
1.
See table 1 notes for assumptions
Parral
In addition to announcing the Initial Mineral Resource Estimate at Los Ricos North, the Proven & Probable Mineral Reserve at
Parral was updated to reflect the mining of material since the update in
June 2021
, as well as for updated gold and silver pricing
consistent with that of Los Ricos North's.
Table 7: Proven & Probable Mineral Reserves – Parral
(1-3)
Category
Tonnes
Average Grade
Contained Metal
Au
Ag
AuEq
AgEq
Au
Ag
AuEq
AgEq
(Mt)
(g/t)
(g/t)
(g/t)
(g/t)
(koz)
(koz)
(koz)
(koz)
Proven
6.8
0.35
31.7
0.77
58
76
6,897
168
12,532
Probable
6.0
0.35
33.6
0.81
60
68
6,525
157
11,554
Total
12.8
0.35
32.6
0.79
58
144
13,422
325
24,086
1.
Mineral Reserves have demonstrated economic viability. The estimate of Mineral Reserves may
be materially affected by environmental, permitting, legal, title, taxation, sociopolitical,
marketing or other relevant issues.
2.
The Mineral Reserves in this press release were estimated in accordance with the Canadian
Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and
Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve
Definitions and adopted by the CIM Council (2014) and CIM Best Practices (2019).
3.
The Mineral Reserve in this estimate are based on US$1,625/oz Au, US$22/oz Ag, operating
costs of US$9.95/t and Au and Ag process recoveries of 65% resulting in a AuEq cut-off grade of 0
.30g/t, calculated at an Ag/Au ratio of 73.8:1.
Qualified Persons
The independent Qualified Person for the Mineral Resource and Mineral Reserve disclosure for the project is
Eugene Puritch
,
P.Eng., FEC, CET, President of P&E, who has reviewed and approved the technical contents of this news release. Mr.
David
Duncan
, P. Geo. is the Qualified Person for GoGold as defined by National Instrument 43-101 and is responsible for the technical
information of this news release.
VRIFY Slide Deck and 3D Presentation
VRIFY is a platform being used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D
models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS and Android apps. Access the
GoGold Company Profile on VRIFY at:
https://vrify.com
The VRIFY Slide Deck and 3D Presentation for GoGold can be viewed at:
https://vrify.com/decks/10437
and on the Company's
website at:
www.gogoldresources.com
.
Los Ricos District Exploration Projects
The Company's two exploration projects at its Los Ricos Property are in
Jalisco
state,
Mexico
. The Los Ricos South Project
began in
March 2019
and an initial Mineral Resource was announced on
July 29, 2020
which disclosed a Measured & Indicated
Mineral Resource of 63.7 million ounces AgEq grading 199 g/t AgEq contained in 10.0 million tonnes, and an Inferred Mineral
Resource of 19.9 million ounces AgEq grading 190 g/t AgEq contained in 3.3 million tonnes. An initial PEA on the project was
announced on
January 20, 2021
indicating an NPV
5%
of
US$295M
.
The Los Ricos North Project was launched in
March 2020
and an initial Mineral Resource was announced on
December 7, 2021
,
which disclosed an Indicated Mineral Resource of 87.8 million ounces AgEq grading 122 g/t AgEq contained in 22.3 million tonnes,
and an Inferred Mineral Resource of 73.2 million ounces AgEq grading 111 g/t AgEq contained in 20.5 million tonnes. The
Company has a drill program for an additional 100,000 metres of drilling for 2022 in place.
About GoGold Resources
GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and
acquiring high quality projects in Mexico. The Company operates the Parral Tailings mine in the
state of Chihuahua
and has the
Los Ricos South and Los Ricos North exploration projects in the state of
Jalisco
. Headquartered in
Halifax, NS
, GoGold is building
a portfolio of low cost, high margin projects. For more information visit
gogoldresources.com
.
About P&E Mining Consultants Inc.
P&E Mining Consultants Inc., established in 2004, provides geological and mine engineering consulting reports, Mineral Resource
Estimate Technical Reports, Preliminary Economic Assessments and Pre-Feasibility Studies. In addition, they are affiliated with
major
Toronto
based consulting firms for the purposes of joint venturing on Feasibility Studies. Their experience covers over 350
NI 43-101 Technical Reports on diamonds, most metallic deposits including gold, silver, base metals, PGM and iron for both open
pit and underground deposits.
CAUTIONARY STATEMENT:
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within
the United States
or to, or
for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with the
registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to exemptions therefrom. This
release does not constitute an offer to sell or a solicitation of an offer to buy of any of GoGold's securities in
the United States
.
This news release may contain "forward-looking information" as defined in applicable Canadian securities legislation. All
statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the
Parral tailings project, the Los Ricos projects, future operating margins, future production and processing, and future plans and
objectives of GoGold, constitute forward looking information that involve various risks and uncertainties. Forward-looking
information is based on a number of factors and assumptions which have been used to develop such information but which may
prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of GoGold and its subsidiaries
as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the
performance of the Parral project There can be no assurance that such information will prove to be accurate and actual results
and future events could differ materially from those anticipated in such forward-looking information.
Important factors that could cause actual results to differ materially from GoGold's expectations include exploration and
development risks associated with GoGold's projects, the failure to establish estimated mineral resources or mineral reserves,
volatility of commodity prices, variations of recovery rates, and global economic conditions. For additional information with respect
to risk factors applicable to GoGold, reference should be made to GoGold's continuous disclosure materials filed from time to
time with securities regulators, including, but not limited to, GoGold's Annual Information Form. The forward-looking information
contained in this release is made as of the date of this release.
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SOURCE
GoGold Resources Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/December2021/07/c0560.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E:
CO: GoGold Resources Inc.
CNW 06:30e 07-DEC-21