GoGold Drills 17.1m averaging 6.45 g/t Gold Equivalent at Los Ricos and 16.9m averaging 1.45g/t Gold Equivalent 400m Northwest of the Main Zone
GoGold Drills 17.1m averaging 6.45 g/t Gold
Equivalent at Los Ricos and 16.9m averaging 1.45g/t
Gold Equivalent 400m Northwest of the Main Zone
Trading Symbol: TSX: GGD
Shares Outstanding: 185,823,461
HALIFAX
,
Sept. 4, 2019
/CNW/ -
GoGold Resources Inc. (TSX: GGD) ("GoGold", "the Company")
is
pleased to release the assay results from three new diamond drill holes at the Los Ricos main area (the "Main
Area") and the first core hole drilled on the
San Juan
target located
400m
to the northwest of the Main Area.
Drill holes LRGG-19-031, 032 and 033 were drilled to test the Los Ricos vein in an area of known underground
workings. Hole LRGG-19-033 intersected
22.5m
of the Los Ricos vein from 31.0 to
53.5m
down the hole but a
total of
5.4m
of the vein was mined out and the stopes were backfilled (assigned zero grade). The remaining
unmined
17.1m
of the Los Ricos vein averaged 6.45 g/t gold equivalent made up of 1.59 g/t gold and 364.2 g/t
silver; including a
5.6m
interval averaging 14.72 g/t gold equivalent made up of 3.81 g/t gold and 818.1 g/t
silver.
Drill hole LRGG-19-030 was drilled to test the historical underground workings known as the San Juan Mine
located
400m
to the north of the Main Area. Between 1915 and 1918, the Cinco Minas Mining Company
explored and developed the
San Juan
deposit on two levels with crosscuts and raises and described the vein
and mineralization as the northern extension of the Los Ricos vein. Hole LRGG-19-030 intersected
16.9m
of the
Los Ricos Vein from 128.7 to
145.5m
and averaged 1.45 g/t gold equivalent made up of 0.54 g/t gold and 67.8
g/t silver; including a
5.0m
interval averaging 3.43 g/t gold equivalent made up of 1.46 g/t gold and 147.9 g/t
silver.
"Our drilling program continues to show wide intervals of gold-silver mineralization remain on both sides of the
stopes in the historical underground workings at the Main Area as shown in these new holes. Furthermore, we
are very encouraged that our first step out drilling
400m
along strike to the northwest and our previously
announced step out drilling
1500m
along strike to the southeast is greatly expanding the size of the Los Ricos
target. We will continue to focus on the strike length expansion of the Los Ricos target and expect more results
to come." stated
Brad Langille
, President and CEO.
Detailed intersections are in Table 1, and drill holes locations are included in Table 2. Figure 1 provides a 3D
view of the Los Ricos property surrounding the historical underground workings at the Main Area, with the
location of the other zones shown. A longitudinal section summary of all the holes drilled at Los Ricos to date is
available at
https://gogoldresources.com/component/rsfiles/preview?path=diagrams%252FLosRicos_LongSec_20190904.pdf
Table 1: Drill Hole Intersections
Hole ID
Area
From
To
Length
1
Au
Ag
AuEq
2
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
LRGG-19-030
San Juan
128.7
145.5
16.9
0.54
67.8
1.45
including
138.0
143.0
5.0
1.46
147.9
3.43
LRGG-19-031
Main
25.5
31.7
6.2
1.17
157.8
3.27
LRGG-19-032
Main
3
38.5
56.0
15.5
0.53
84.2
1.66
including
38.5
47.2
8.7
0.75
94.3
2.01
including
42.3
45.0
2.7
2.04
216.6
4.93
LRGG-19-033
Main
4
31.0
53.5
17.1
1.59
364.2
6.45
including
31.0
36.6
5.6
3.81
818.1
14.72
including
43.0
53.5
10.5
0.52
142.5
2.42
1
.
Not true width
2
.
AuEq converted using a silver to gold ratio of 75:1
3
.
Excludes 2.0m of open stopes from historical underground workings
4
.
Excludes 5.4m of open stopes from historical underground workings
Figure 1: Los Ricos Zones 3D View (CNW Group/GoGold Resources Inc.)
Table 2: Drill Hole Locations
Hole ID
Easting
Northing
Elev
Azimuth
Dip
Length
LRGG-19-030
610196
2327906
1434
50
-45
222.0
LRGG-19-031
610697
2327608
1445
50
-45
76.5
LRGG-19-032
610674
2327622
1449
50
-45
70.5
LRGG-19-033
610657
2327641
1449
50
-45
60.0
GoGold commenced a
10,000 m
diamond drilling program of HQ size core in conjunction with a field program of
geological mapping, sampling and trenching on the property in
March 2019
. The core drilling campaign is
focused on defining the mineralized halo around the historical high grade ore shoots as defined by the
underground workings and the 65 historical RC drill holes on the property. The program has now been expanded
for additional testing along 3.2 km of the Los Ricos mineralized zone.
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 ActLabs facility in
Zacatecas, Mexico
. ActLabs
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 50 gram charge by fire assay (Code 1A2-50) and over limits
greater than 10 grams per tonne are re-assayed using a gravimetric finish (Code 1A3-50). Silver and multi-
element analysis is completed using total digestion (Code 1F2 Total Digestion ICP). Over limits greater than 100
grams per tonne silver are re-assayed using a gravimetric finish (Code 8-Ag FA-GRAV Ag).
Quality Assurance / Quality Control and Data Verification
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.
Mr.
David Duncan
, P. Geo. is the qualified person as defined by National Instrument 43-101 and is responsible
for the technical information of this release.
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
project in the
state of Chihuahua
and has the Los Ricos exploration project 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
.
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 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.
SOURCE
GoGold Resources Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/September2019/04/c2183.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E:
CO: GoGold Resources Inc.
CNW 07:30e 04-SEP-19