GoGold Announces Strong Near-Mine Drilling Results at Los Ricos South 3,034 g/t AgEq over 21.3m including 1.4m of 41,110 g/t AgEq from the Eagle Zone
GoGold Announces Strong Near-Mine Drilling
Results at Los Ricos South
3,034 g/t AgEq over 21.3m including 1.4m of 41,110 g/t AgEq
from the Eagle Zone
Halifax, Nova Scotia--(Newsfile Corp. - September 9, 2025) -
GoGold Resources Inc. (TSX: GGD)
(OTCQX: GLGDF) ("GoGold", "the Company")
is pleased to announce first assay results have been
received from its near-mine 2025 exploration program conducted on the Eagle and Abra (Main) Zones
of the Silver-gold Los Ricos South Project located in Jalisco, Mexico. Drill targeting was based on
reconstruction of the historical Cinco Minas Mine and a new IP geophysics survey conducted this year.
Assay results from geotechnical holes in the Eagle Zone are also discussed.
"We're pleased with these initial results of our near-mine exploration program.
The objective was to drill
some scouting exploration holes deeper than our current Resource and south of the current Resource in
a faulted off section of the vein.
We were successful in hole 318 as it demonstrated strong mineralization
continues deeper below our current Resources.
Also, a highlight of the drilling was hole 324 which not
only located the faulted off section of the vein outside of the Resource but yielded strong gold and silver
grades and widths.
Another significant hole is hole 337, located in Cerro Colorado which is south of
known mineralization and could represent a new ore shoot which we will target with further drilling," said
Brad Langille, President and CEO.
"Hole LRSGT-23-001 was drilled for geotechnical purposes within
the current Resource area, but after publication.
This is confirmatory of the high grade and large widths
of the Eagle Zone."
Highlights from the drilling program include the following:
Hole LRSGT-23-001
:
41,110 g/t total silver equivalent over 1.42 m from 131.20 to 132.62 m,
consisting of 28,094 g/t silver and 173.6 g/t gold within a longer interval of 21.25 m grading 3,034
g/t total silver equivalent from 129.15 to 150.40 m consisting of 2,077 g/t silver and 12.76 g/t gold
drilled in the
Eagle Zone
for geotechnical purposes after the Resource was published and is
within the current Resource area (see Figures 1 and 4).
Hole LRGG-24-318
:
904 g/t total silver equivalent over 0.75 m from 698.10 to 698.85 m,
consisting of 401 g/t silver and 6.7 g/t gold within a longer interval of 10.72 m grading 215 g/t total
silver equivalent from 691.18 to 701.90 m consisting of 123 g/t silver and 1.2 g/t gold in the
Abra
Zone
for exploration purposes outside of the current Resource area (see Figures 1 and 3).
Hole LRGG-24-324
: 1,034 g/t total silver equivalent over 1.39 m from 231.50 to 232.89 m,
consisting of 477 g/t silver and 7.4 g/t gold within a longer interval of 23.05 m grading 234 g/t total
silver equivalent from 227.10 to 250.15 m consisting of 123 g/t silver and 1.49 g/t gold in the
South Abra Zone
for exploration purposes outside of the current Resource area (see Figures 1
and 3).
Hole LRGG-24-337
: 849 g/t total silver equivalent over 1.50 m from 33.50 to 35.00 m, consisting
of 43.8 g/t silver and 10.7 g/t gold within a longer interval of 9.45 m grading 303 g/t total silver
equivalent from 27.55 to 37.00 m consisting of 21.7 g/t silver and 3.75 g/t gold in the
Cerro
Colorado Zone
for exploration purposes outside of the current Resource area (see Figures 1 and
3).
Table 1: Drill Hole Results
Hole ID
Area / Vein
From
To
Length
1
Au
Ag
AuEq
2
AgEq
2
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
(g/t)
LRGG-24-318
Los Ricos Vein
691.18
701.90
10.72
1.234
122.7
2.87
215.2
including
698.10
698.85
0.75
6.700
401.0
12.05
903.5
LRGG-25-321
Los Ricos Vein
222.50
234.00
11.50
0.640
78.8
1.69
126.8
including
222.50
227.60
5.10
0.893
80.1
1.96
147.0
LRGG-25-322
Los Ricos Vein
310.66
318.00
7.34
0.202
130.1
1.94
145.3
including
313.50
318.00
4.50
0.258
182.5
2.69
201.9
LRGG-25-324
Los Ricos Vein
227.10
250.15
23.05
1.491
122.6
3.13
234.4
including
231.50
232.89
1.39
7.417
477.4
13.78
1,033.7
LRGG-25-325
Los Ricos Vein
237.50
238.50
1.00
0.440
97.0
1.73
130.0
LRGG-25-327
Los Ricos Vein
452.00
495.45
43.45
0.218
54.0
0.94
70.4
including
469.65
470.65
1.00
0.025
656.0
8.77
657.9
LRGG-25-328
Los Ricos Vein
235.00
257.04
22.04
0.181
41.9
0.74
55.5
including
256.50
257.04
0.54
1.940
346.0
6.55
491.5
LRGG-25-330
Los Ricos Vein
314.65
315.15
0.50
0.460
206.0
3.21
240.5
LRGG-25-333
Los Ricos Vein
183.30
185.40
2.10
0.832
36.9
1.32
99.3
LRGG-25-334
Los Ricos Vein
230.50
231.65
1.15
1.061
48.4
1.71
127.9
and
241.70
242.70
1.00
1.344
236.4
4.50
337.2
LRGG-25-335
Los Lamas
Vein
251.20
252.15
0.95
1.850
137.0
3.68
275.8
and
262.70
267.25
4.55
0.395
71.0
1.34
100.6
LRGG-25-336
Cerro Col. Vein
12.30
23.61
11.31
0.814
20.9
1.09
82.0
including
17.10
22.58
5.48
0.950
26.5
1.30
97.7
LRGG-25-337
Cerro Col. Vein
27.55
37.00
9.45
3.754
21.7
4.04
303.3
including
33.50
35.00
1.50
10.740
43.8
11.32
849.3
LRGG-25-339
Cerro Col. Vein
4.15
6.40
2.25
0.723
49.0
1.38
103.2
The following holes are geotechnical holes drilled after Resource was published, and are within current Resource area:
LRSGT-23-001
Los Ricos Vein
129.15
150.40
21.25
12.76
2,077.0
40.46
3,034.2
including
131.20
132.62
1.42
173.55
28,094.0
548.14
41,110.2
GT-PFS-23-001
Los Ricos Vein
133.85
139.00
5.15
0.71
173.9
3.03
227.1
including
134.90
136.28
1.38
1.86
334.4
6.32
474.0
GT-PFS-23-003
Los Ricos
Vein
6
120.68
146.67
25.99
0.86
89.1
2.05
153.5
including
6
122.95
130.50
7.55
3.09
286.0
6.90
517.8
including
6
122.95
129.59
6.64
3.27
313.0
7.45
558.5
GT-PFS-23-004
Los Ricos Vein
60.00
92.10
32.10
3.18
292.1
7.08
531.0
including
64.00
65.60
1.60
20.11
2,792.5
57.35
4,300.9
GT-PFS-23-005
Los Ricos
Vein
6
66.30
93.60
27.30
0.36
45.8
0.97
72.8
including
6
75.00
80.60
5.60
0.94
77.1
1.97
147.7
GT-PFS-23-
OP4
Los Ricos
Vein
6
101.15
115.40
11.80
2.62
289.1
6.48
485.8
including
6
106.25
115.40
6.70
4.60
489.9
11.13
834.5
GT-PFS-23-
OP5
Los Ricos Vein
40.00
54.90
14.90
0.37
58.9
1.16
87.0
Including
46.20
47.20
1.00
1.09
170.0
3.36
251.8
GT-PFS-23-005
Los Ricos
Vein
6
66.30
93.60
27.30
0.36
45.8
0.97
72.8
including
46.20
47.20
1.00
1.09
170.0
3.36
251.8
1. Not true width.
2. Silver Equivalent ("AgEq") ratios are based on a silver to gold price ratio of 75:1 (Au:Ag) at 100% metal recoveries.
3. Holes LRGG-25-319, 320, 323, 326, 329, 329, 331, 332, 338 did not intercept material mineralization and are excluded.
4. Hole GT-PFS-23-002 intercepted strong mineralization but was drilled along vein for geotechnical purposes and is excluded from the results
above.
5. Holes GT-PFS-23-006, 007, 008, 009, 010, 011 and GT-PFS-23-OP1, OP2, OP3 were drilled for geotechnical purposes and were not sampled.
6. Excluding voids.
Summary
In early 2025, the exploration team began a new IP survey to extend the coverage south of the El Abra
deposit to the Cerro Colorado deposit (see Figure 2).
The new data, combined with the 2022 IP survey,
provides continuous detailed information along the El Abra structure over a strike length of 7km. Based
on a re-evaluation of historical data and the new IP geophysics, a systematic step-out drilling program to
test the down dip, the southern strike extension of the Abra Zone towards Los Lamas, and the Cerro
Colorado deposit was started in January 2025.
The goal of this drilling is to extend the known mineral occurrence at the south end of the historically
mined Cinco Minas one kilometer to the Los Llamas Zone all the way to the south at Cerro Colorado, a
total strike length of 3.5km. The drill holes in this release were not included in the initial Mineral Resource
Estimate ("MRE") for Los Ricos South released on January 6, 2025.
Figure 1: 2025 Exploration Drilling - Los Ricos Plan View
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1683/265564_3f2cf4ad74ba2a00_001full.jpg
Figure 2: 2025 IP Survey - Plan View
Induced polarization is industry standard in exploring for low sulfidation epithermal deposits, and
particularly resistivity shows a pronounced break between the El Pochete and Eje Volcanics, the known
host of the Los Ricos Vein System. This break can be traced for a total of 7km from the north of Eagle to
the far south of Cerro Colorado.
Figure 2: 2025 IP Survey - Plan View
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1683/265564_3f2cf4ad74ba2a00_002full.jpg
This prospective break, along with a refreshed look at historical mining records, show the area to be
prospective to the south of the Abra Zone and down dip of the current FS designed stopes.
Figure 3: Longitudinal Section - Near Mine Drilling
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1683/265564_3f2cf4ad74ba2a00_003full.jpg
Assay results from drill hole LRGG-24-318 show the high grade Abra Zone extends 250m down dip of
the deepest Feasibility Study designed stopes, offering excellent expansion potential. Whereas, assay
results from LRGG-25-324 show an extension of the Abra Zone 150m south of the last historical mining
activity. There remains over 500m of prospective ground untested between DDH 324 and the Los
Llamas Zone, believed to be a continuation of the Abra Zone.
Geotechnical Drilling
Based on the recommendations from WSP (retained for the 2024 Feasibility Study) the Company
completed additional geotechnical drill holes for the proposed Open Pit and Underground Mine Plans.
Holes were completed either, 1) crossing the zone, 2) entirely in FW, 3) entirely in HW or 4) drilled down
the vein/HW (e.g., GT_PFS_23_002). Only holes that crossed the Zone were sampled. Geotechnical
holes were used for both Resource Definition and geotechnical purposes and confirm the presence of
the high-grade Abra and Eagle Zones. These drill holes were not utilized in the updated MRE dated
January 16, 2025.
Figure 4: Cross Section - Geotechnical Drilling for Resource
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1683/265564_3f2cf4ad74ba2a00_004full.jpg
Table 2: Drill Hole Locations
Hole ID
Easting
Northing
Elevation
Length
Azimuth
Dip
Type
LRSGT-23-001
609992
2328411
1260
257
50
-45
Geotechnical
GT-PFS-23-OP1
610528
2327672
1282
170
245
-50
Geotechnical
GT-PFS-23-OP2
610828
2327753
1423
150
45
-70
Geotechnical
GT-PFS-23-OP3
610666
2327951
1472
151
45
-70
Geotechnical
GT-PFS-23-OP4
610292
2328052
1308
115
310
-60
Geotechnical
GT-PFS-23-OP5
610339
2328166
1349
101
45
-70
Geotechnical
GT_PFS_23_001
610528
2327676
1283
252
90
-65
Geotechnical
GT_PFS_23_002
610775
2327544
1259
201
30
-80
Geotechnical
GT_PFS_23_003
610439
2327744
1274
250
65
-65
Geotechnical
GT_PFS_23_004
610321
2327972
1288
220
30
-80
Geotechnical
GT_PFS_23_005
610386
2327909
1294
151
65
-65
Geotechnical
GT_PFS_23_006
610665
2327949
1471
442
240
-55
Geotechnical
GT_PFS_23_007
610828
2327753
1423
421
230
-60
Geotechnical
GT_PFS_23_008
610188
2328372
1313
251
310
-70
Geotechnical
GT_PFS_23_009
610253
2328508
1384
351
250
-70
Geotechnical
GT_PFS_23_010
610089
2328587
1298
248
210
-50
Geotechnical
GT_PFS_23_011
610747
2327839
1455
452
240
-70
Geotechnical
LRGG-24-318
609926
2327320
1253
785
50
-55
Exploration
LRGG-25-319
610865
2327392
1235
123
50
-50
Exploration
LRGG-25-320
610782
2327286
1212
220
50
-50
Exploration
LRGG-25-321
610706
2327215
1151
342
50
-50
Exploration
LRGG-25-322
610653
2327186
1150
389
50
-50
Exploration
LRGG-25-323
610707
2327220
1152
373
50
-50
Exploration
LRGG-25-324
610735
2327183
1152
390
50
-50
Exploration
LRGG-25-325
610666
2327251
1153
319
50
-50
Exploration
LRGG-25-326
610593
2327071
1149
597
50
-60
Exploration
LRGG-25-327
610449
2327355
1208
635
50
-80
Exploration
LRGG-25-328
610741
2327164
1151
387
50
-50
Exploration
LRGG-25-329
610742
2327123
1142
385
50
-45
Exploration
LRGG-25-330
610733
2327184
1153
361
50
-55
Exploration
LRGG-25-331
610732
2327183
1153
360
50
-59
Exploration
LRGG-25-332
610732
2327183
1153
430
50
-66
Exploration
LRGG-25-333
610733
2327184
1153
351
50
-46
Exploration
LRGG-25-334
611456
2326517
1096
361
50
-47
Exploration
LRGG-25-335
611456
2326516
1096
350
50
-60
Exploration
LRGG-25-336
612127
2326018
1041
71
50
-45
Exploration
LRGG-25-337
612118
2326012
1039
85
50
-82
Exploration
LRGG-25-338
612164
2325942
1018
66
50
-45
Exploration
LRGG-25-339
612182
2325970
1029
44
50
-45
Exploration
Procedure, Quality Assurance / Quality Control and Data Verification
The diamond drill core (HQ size) is geologically logged, photographed and marked for sampling. When
the sample lengths are determined, the full core is sawn with a diamond blade core saw with one half of
the core being bagged and tagged for assay. The remaining half portion is returned to the core trays for
storage and/or for metallurgical test work.
The sealed and tagged sample bags are transported to the ALS Chemex facility in Zacatecas, Mexico.
ALS Chemex crushes the samples and prepares 200-300 gram pulp samples with ninety percent
passing Tyler 150 mesh (106μm). The pulps are assayed for gold using a 30-gram charge by fire assay
(Code AA23) and over limits greater than 10 grams per tonne are re-assayed using a gravimetric finish
(Code ME-GRAV21). Silver and multi-element analysis is completed using total digestion (Code ME-
ICP61 Total Digestion ICP). Over limits greater than 100 grams per tonne silver are re-assayed using a
gravimetric finish (ME-GRA21).
Quality assurance and quality control ("QA/QC") procedures monitor the chain-of-custody of the samples
and includes the systematic insertion and monitoring of appropriate reference materials (certified
standards, blanks and duplicates) into the sample strings. The results of the assaying of the QA/QC
material included in each batch are tracked to ensure the integrity of the assay data. All results stated in
this announcement have passed GoGold's QA/QC protocols.
Qualified Person
David R. Duncan, P. Geo., V.P. Exploration of the Corporation, is the Qualified Person for GoGold as
defined under National Instrument 43-101.
Mr. Duncan has reviewed and approved the scientific and
technical information in this press release.
Los Ricos District Exploration Projects
The Company's two development 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 NPV5% of US$295M. On January 16, 2025, the company
announced a feasibility study which included a front-end engineering design which outlined an NPV5% of
US$355M.
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. An initial PEA on
the project was announced on May 17, 2023, indicating an NPV5% of US$413M.
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
and development 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
.
For further information please contact:
Steve Low, Corporate Development
GoGold Resources Inc.
T: 416 855 0435
Email :
Or visit :
www.gogoldresources.com
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
project, 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 the 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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