GoGold Drills 21.0m Averaging 3.33 g/t Gold Equivalent at San Juan and Expands Drilling Program
GoGold Drills 21.0m Averaging 3.33 g/t Gold
Equivalent at San Juan and Expands Drilling
Program
Trading Symbol: TSX: GGD
Shares Outstanding: 185,823,461
HALIFAX
,
Oct. 2, 2019
/CNW/ -
GoGold Resources Inc. (TSX: GGD) ("GoGold", "the Company")
is
pleased to release the assay results from hole LRGG-19-048, the latest hole completed on the
San Juan
area
located 400 metres to the northwest of the Los Ricos Main mine area. Hole LRGG-19-049 was drilled at the
northern end of the Main mine area.
Hole LRGG-19-048 intersected
21.0m
of the Los Ricos vein from 89.1 to
110.1m
down the hole and averaged
3.33 g/t gold equivalent made up of 1.38 g/t gold and 145.9 g/t silver; including a
5.0m
interval averaging 10.2
g/t gold equivalent made up of 4.36 g/t gold and 436.2 g/t silver. No historical underground workings were
encountered in the hole.
"We are encouraged with these new high grade assay results at San Juan. Hole 48 was drilled to test about
50m
up dip from our
San Juan
discovery hole LRGG-19-030 and is quickly demonstrating the potential for near
surface mineralization. We have now tested
San Juan
200m
down dip from surface and our drilling program will
continue to focus on the extent of this newly discovered potential ore shoot down dip and along strike," stated
Brad Langille
, President and CEO. "We've expanded our drilling program with the addition of a third drill rig."
The Company's initial drilling program, which began in March, was planned for 10,000 metres of drilling. As of
today, the drilling program has exceeded 8,700 metres, and the Company intends to continue drilling well past
the 10,000 metre mark due to the strength of the results achieved to date. A third drilling rig was added to the
project last week.
Detailed intersections are listed in Table 1, and the hole locations are shown in Table 2. 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_20191002.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-19-047
San Juan
83.5
97.5
14.0
0.16
23.5
0.47
LRGG-19-048
San Juan
89.1
110.1
21.0
1.38
145.9
3.33
including
89.1
99.0
9.9
2.76
258.6
6.21
including
91.0
96.0
5.0
4.36
436.2
10.17
LRGG-19-049
Main
7.9
20.1
12.2
0.10
47.3
0.73
Main
39.0
51.0
12.0
0.76
108.4
2.21
Including
40.2
47.5
7.3
1.02
155.6
3.10
1.
Not true width
2.
AuEq converted using a silver to gold ratio of 75:1
Table 2: Drill Hole Locations
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Length
LRGG-19-047
610241
2327994
1435
50
-45
250.5
LRGG-19-048
610266
2327933
1450
50
-45
147.0
LRGG-19-049
610506
2327840
1492
50
-45
81.0
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:
http://www.newswire.ca/en/releases/archive/October2019/02/c0344.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E:
CO: GoGold Resources Inc.
CNW 07:30e 02-OCT-19