GoGold Drills 1,975 g/t AgEq over 0.6m and 19.9m of 119 g/t AgEq at Los Ricos North
GoGold Drills 1,975 g/t AgEq over 0.6m and 19.9m of 119 g/t AgEq
at Los Ricos North
Shares Outstanding: 277,928,617
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX, NS
,
Nov. 10, 2021
/CNW/ -
GoGold Resources Inc.
(TSX: GGD) (OTCQX: GLGDF)
("GoGold", "the Company")
is pleased to
release the results of 11 drill holes at Mololoa and the initial 19 drill holes at
El Nayar
within Los Ricos North. Hole LRGM-21-030 intersected
0.6m
of 1,975 g/t silver equivalent ("AgEq"), and Hole LRGM-21-038 intersected
0.8m
of 1,170 g/t AgEq within
19.9m
of 119 g/t AgEq. At
El
Nayar
, Hole LRGNY-21-002 intersected 1,976 g/t AgEq over
0.7m
and Hole LRGNY-21-004 intersected
16.6m
of 154 g/t AgEq. See Table 1 for
breakdown of silver and gold values.
El Nayar
is located approximately 6 kilometres north-west of the La Trini deposit within Los Ricos North. It consists of multiple subvertical veins
and stockwork mineralization, and limited historical underground mining. The Company has been drilling the target with two drill rigs for the last
several months.
"Over the next few days, we will reach the data cut-off for our initial Los Ricos North mineral resource estimate. This data cut-off represents a
point in time and the 9 drill rigs are currently and will continue to drill at Los Ricos. This upcoming resource represents the completion of the first
100,000 metres of drilling at Los Ricos North, and the Company is progressing on the next 100,000 metres which is budgeted for the Los Ricos
district through 2022," said
Brad Langille
, President and CEO. "Today's release introduces the
El Nayar
zone, with our first drill holes completed.
Also, we report continued successful drilling at the previously mentioned Mololoa target."
Table 1: Drill Hole Intersections
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)
LRGM-21-030
Mololoa - Tamara
70.8
79.3
8.5
0.12
49.6
0.78
58.8
including
76.2
77.0
0.8
0.80
289.0
4.65
349.0
and
93.5
117.0
23.5
0.25
78.3
1.29
96.8
including
94.1
94.8
0.7
1.66
534.0
8.78
658.5
and
110.9
112.2
1.4
1.87
796.7
12.50
937.2
including
110.9
111.5
0.6
4.00
1,675.0
26.33
1,975.0
LRGM-21-031
Mololoa - Soledad
12.5
14.8
2.3
0.19
46.8
0.81
60.7
including
13.9
14.8
0.9
0.36
94.9
1.63
122.0
LRGM-21-033
Mololoa - Soledad
12.5
14.6
2.1
0.09
35.8
0.57
42.6
including
13.7
14.6
0.9
0.20
55.7
0.94
70.3
LRGM-21-034
Mololoa - Tamara
118.6
119.4
0.8
0.69
80.4
1.76
132.3
LRGM-21-035
Mololoa
51.1
56.0
5.0
0.23
74.9
1.22
91.8
including
51.9
52.7
0.9
1.03
249.0
4.35
326.2
LRGM-21-038
Mololoa - Tamara
81.1
81.9
0.8
1.04
295.0
4.97
373.0
and
101.0
120.9
19.9
0.39
90.0
1.59
119.4
including
114.3
119.9
5.7
1.05
253.1
4.42
331.7
including
114.3
115.1
0.8
2.35
994.0
15.60
1,170.3
LRGM-21-042
Mololoa - Tamara
108.0
112.6
4.6
0.12
108.1
1.56
116.7
including
111.1
112.6
1.5
0.28
289.0
4.13
310.0
including
111.1
111.6
0.5
0.79
669.0
9.71
728.3
LRGM-21-043
Mololoa - Tamara
96.7
97.5
0.8
0.48
94.0
1.73
130.0
LRGM-21-044
Mololoa - Soledad
28.7
35.5
6.8
0.12
51.4
0.80
60.2
Including
32.2
33.6
1.4
0.40
183.0
2.84
213.0
LRGM-21-045
Mololoa - Soledad
10.4
20.1
9.7
0.35
96.9
1.64
123.2
including
15.4
19.1
3.7
0.84
232.7
3.94
295.9
LRGM-21-051
Mololoa - Soledad
35.3
41.5
6.2
0.58
99.5
1.91
143.2
including
35.3
36.3
1.0
2.53
420.0
8.13
609.8
LRGNY-21-001
El Nayar - Rubi
63.2
66.4
3.2
0.33
92.0
1.55
116.4
El Nayar - New
182.8
185.0
2.2
1.52
360.3
6.32
474.2
including
183.8
184.4
0.5
5.99
1,135.7
21.13
1,585.0
El Nayar - Castellana
222.6
233.0
8.0
0.21
70.5
1.14
85.9
and
223.2
226.7
2.7
0.41
127.4
2.11
158.2
LRGNY-21-002
El Nayar - Rubi
64.9
71.9
7.1
0.33
125.6
2.01
150.5
including
66.8
68.1
1.3
1.14
358.6
5.92
444.4
El Nayar - Castellana
221.8
231.0
3.9
1.73
288.4
5.58
418.1
including
228.8
229.5
0.7
8.44
1,343.2
26.34
1,975.9
El Nayar - New
319.8
320.5
0.7
0.35
136.1
2.17
162.6
LRGNY-21-003
El Nayar - Castellana
180.4
181.8
1.4
0.21
109.6
1.67
125.5
and
197.1
199.2
2.1
0.51
59.8
1.31
98.3
LRGNY-21-004
El Nayar - Rubi
64.3
80.8
16.6
0.50
116.5
2.05
154.0
including
67.6
72.3
4.7
1.51
259.8
4.97
372.7
LRGNY-21-005
El Nayar - Castellana
161.2
163.8
2.6
0.16
68.2
1.068
80.1
LRGNY-21-006
El Nayar - Rubi
89.5
91.3
1.8
0.37
97.5
1.67
124.9
LRGNY-21-007
El Nayar - Rubi
69.1
74.7
5.6
0.27
81.2
1.35
101.5
including
73.1
73.7
0.6
0.83
486.0
7.31
547.9
and
98.7
101.5
2.8
0.19
67.6
1.09
81.9
LRGNY-21-008
El Nayar - Rubi
96.1
97.6
1.6
0.41
85.5
1.55
116.5
and
143.6
149.1
5.5
0.01
157.4
2.11
158.3
including
145.1
146.6
1.5
0.01
413.0
5.51
413.6
El Nayar - Castellana
234.9
236.2
1.3
0.79
180.0
3.19
239.4
LRGNY-21-010
El Nayar - Castellana
140.1
141.3
1.2
0.21
95.4
1.48
110.8
LRGNY-21-012
El Nayar - Rubi
77.3
79.3
2.0
0.22
94.9
1.49
111.6
and
105.3
106.8
1.5
0.36
335.3
4.83
362.4
LRGNY-21-013
El Nayar - Castellana
98.7
100.7
2.0
0.13
53.8
0.85
63.4
LRGNY-21-014
El Nayar - Castellana
97.2
99.4
2.1
0.23
65.0
1.09
81.9
LRGNY-21-016
El Nayar - Rubi
12.1
13.9
1.8
0.46
186.0
2.94
220.5
and
90.0
92.0
2.0
0.20
144.5
2.12
159.1
and
98.6
103.9
5.4
0.26
102.0
1.62
121.8
including
98.6
100.0
1.5
0.41
173.6
2.72
204.3
and
111.7
115.5
3.8
0.87
161.5
3.03
226.9
including
112.7
113.4
0.8
4.02
648.0
12.66
949.5
LRGNY-21-017
El Nayar - Castellana
71.7
90.1
14.1
0.12
92.5
1.36
101.9
including
77.8
81.1
3.3
0.12
197.6
2.76
206.9
LRGNY-21-018
El Nayar - Castellana
242.3
243.8
1.5
0.14
121.0
1.75
131.5
LRGNY-21-019
El Nayar - Rubi
209.1
211.5
2.4
0.10
93.7
1.35
101.4
El Nayar - Castellana
228.9
232.0
3.1
3.20
67.6
4.10
307.6
1.
Not true width
2.
AqEq converted using a silver to gold ratio of 75:1 at recoveries of 100%
3.
Holes LRGM-21-032, LRGM-21-037, LRGM-21-039, LRGNY-21-009, LRGNY-21-011 and LRGNY-21-015 are excluded as they did not intercept significant mineralization.
4.
Holes LRGM-21-040, LRGM-21-041 and LRGM-21-046 to 050 are pending assays.
Figure 1: Mololoa Plan View
Figure 1: Mololoa Plan View (CNW Group/GoGold Resources Inc.)
Figure 2: El Nayar Plan View
Figure 2: El Nayar Plan View (CNW Group/GoGold Resources Inc.)
Figure 3: Los Ricos Overview
Figure 3: Los Ricos Overview (CNW Group/GoGold Resources Inc.)
Table 2: Drill Hole Locations
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Length
LRGM-21-030
584742
2338376
946
240
-55
164
LRGM-21-031
584742
2337858
1018
240
-50
114
LRGM-21-032
584787
2337652
1030
240
-50
73
LRGM-21-033
584804
2337638
1019
240
-50
71
LRGM-21-034
584742
2338376
946
240
-75
165
LRGM-21-035
584926
2338022
1040
240
-50
191
LRGM-21-036
584486
2338435
1025
180
-45
266
LRGM-21-037
584953
2338004
1056
240
-50
199
LRGM-21-038
584765
2338359
948
240
-55
175
LRGM-21-039
584837
2337703
1034
240
-50
104
LRGM-21-040
584814
2337727
1032
240
-57
101
LRGM-21-041
584840
2337683
1020
240
-50
92
LRGM-21-042
584765
2338358
948
240
-75
178
LRGM-21-043
584383
2338344
970
180
-60
183
LRGM-21-044
584801
2337751
1027
240
-50
107
LRGM-21-045
584733
2337827
1029
240
-60
84
LRGM-21-051
584825
2337791
1016
240
-57
82
LRGNY-21-001
578485
2344202
753
200
-57
323
LRGNY-21-002
578484
2344199
752
200
-45
346
LRGNY-21-003
578514
2344158
724
200
-70
326
LRGNY-21-004
578485
2344201
753
200
-80
314
LRGNY-21-005
578514
2344158
724
200
-55
317
LRGNY-21-006
578514
2344158
723
0
-90
313
LRGNY-21-007
578440
2344227
750
200
-57
300
LRGNY-21-008
578441
2344223
757
200
-45
297
LRGNY-21-009
578563
2344136
695
200
-60
207
LRGNY-21-010
578563
2344132
693
196
-45
201
LRGNY-21-011
578563
2344137
696
200
-82
207
LRGNY-21-012
578441
2344233
750
200
-70
287
LRGNY-21-013
578589
2344085
660
200
-60
134
LRGNY-21-014
578588
2344090
664
200
-45
156
LRGNY-21-015
578589
2344085
660
0
-90
174
LRGNY-21-016
578394
2344244
767
200
-58
287
LRGNY-21-017
578505
2344051
665
200
-55
214
LRGNY-21-018
578331
2344211
807
206
-45
267
LRGNY-21-019
578307
2344246
825
200
-45
299
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 resource was announced on
July 29, 2020
which indicated 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 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 includes drilling at the El Favor, La Trini, Mololoa, Casados and El Orito targets.
During 2020, GoGold's exploration team identified over 100 targets on the Los Ricos North properties, demonstrating the significant exploration
potential. The Company plans to drill 10 of these targets as part of its 2021 drilling program which is planned to exceed 100,000 metres of
drilling and will be one of the largest in
Mexico
.
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.
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 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
.
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 Los Ricos South and North projects,
and future plans and objectives of GoGold, including the intention to undertake further exploration at Los Ricos North, and the prospect of further
discoveries there, 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:
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%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E: [email protected]
CO: GoGold Resources Inc.
CNW 06:30e 10-NOV-21