GoGold Drills 21.2m Averaging 24.60 g/t Gold Equivalent Including 6.9m at 71.54 g/t Gold Equivalent at the Recently Acquired Los Ricos
GoGold Drills 21.2m Averaging 24.60 g/t Gold
Equivalent Including 6.9m at 71.54 g/t Gold
Equivalent at the Recently Acquired Los Ricos
Trading Symbol: TSX: GGD
Shares Outstanding: 171,776,481
HALIFAX
,
May 14, 2019
/CNW/ -
GoGold Resources Inc. (TSX: GGD) ("GoGold", "the
Company")
drilling results continue to demonstrate the tremendous growth potential at the recently
acquired 29 concession Los Ricos project located about 100 km northwest of the city of
Guadalajara
.
"We continue to see high grade ore from our drilling program which is near surface. Our diamond
drilling holes which are twinning historical RC holes continue to provide much higher grades than the
historical results, with hole 9 showing gold equivalent grades 70% higher than the historical results.
These results, coupled with the strong assay results that the historical 6,000 channel samples are
showing as our exploration team works through the data, are showing a very promising project at
Los Ricos." stated
Brad Langille
, President and CEO.
Diamond drill hole LRGG-19-009 intersected
21.2m
averaging 7.66 g/t gold, 1,270.2 g/t silver and
24.60 g/t gold equivalent, including
6.9m
averaging 21.97 g/t gold, 3,717.6 g/t silver and 71.54 g/t
gold equivalent. The drill hole was laid out to twin RC drill hole CMRC-30 completed by TUMI
Resources in
September 2003
, with the GoGold core hole returning 70% higher gold equivalent
grade.
Diamond drill hole LRGG-19-010 intersected
18.8m
averaging 0.37 g/t gold, 67.9 g/t silver and 1.27
g/t gold equivalent including
4.5m
averaging 0.96 g/t gold, 119.5 g/t silver and 2.55 g/t gold
equivalent. The high grade ore was located adjacent to a historical
1.5m
wide underground working,
which was intersected.
Detailed intersections are in Table 1, and location of drill holes are included in Table 2.
Table 1: Drill Hole Intersections
Hole ID
Comment
From
To
Length
2
Au
Ag
AuEq
1
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
LRGG-19-009
Main
34.5
55.7
21.2
7.66
1270.2
24.60
including
37.8
44.7
6.9
21.97
3717.6
71.54
CMRC-30
3
Historical
3
32.0
52.0
20.0
3.20
845.0
14.47
Including
3
34.0
40.0
6.0
9.00
2608.0
43.77
LRGG-19-010
Open Stope
4
97.5
99.0
1.5
-
-
-
Main
99.0
117.8
18.8
0.37
67.9
1.27
including
102.2
106.7
4.5
0.96
119.5
2.55
1.
AuEq converted using a silver to gold ratio of 75:1
2.
Not true width
3.
Historical drilling data comes from TUMI Resources press release dated November 19, 2003 available on SEDAR as filed by Kingsmen Resources Ltd.
4.
1.5m underground working, no sample
Table 2: Drill Hole Locations
Hole ID
Easting
Northing
Elev
Azimuth
Dip
Final
LRGG-19-009
610835
2327486
1433.6
50
-50
81.00
LRGG-19-010
610485
2327764
1473.9
50
-50
160.50
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 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/May2019/14/c9499.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855
0435, E: [email protected]
CO: GoGold Resources Inc.
CNW 09:15e 14-MAY-19