GoGold Drills 21.4m averaging 3.08 g/t Gold Equivalent in Deepest Hole at Los Ricos
GoGold Drills 21.4m averaging 3.08 g/t Gold
Equivalent in Deepest Hole at Los Ricos
Trading Symbol: TSX: GGD
Shares Outstanding: 171,901,481
HALIFAX
,
July 24, 2019
/CNW/ -
GoGold Resources Inc. (TSX: GGD) ("GoGold", "the
Company")
continues to deliver strong assay results from four new diamond drill holes at the recently acquired
29 concession Los Ricos project located about 100 km northwest of the city of
Guadalajara, Mexico
.
To date, 41 holes totalling
5,522m
of HQ size drill core have been completed on the Los Ricos deposit with two
drill machines. One drill is testing the Los Ricos vein extension along strike to the north of the underground
workings while the second drill is completing a series of short holes spaced on
25m
sections along the top of the
deposit.
Drill hole LRGG-19-018 is the deepest hole to intersect the Los Ricos vein to date and cut
21.4m
averaging
0.81 g/t gold, 170.1 g/t silver and 3.08 g/t gold equivalent, including
7.5m
averaging 1.78 g/t gold, 342.4 g/t
silver and 6.35 g/t gold equivalent. No workings were encountered in the hole and core recoveries were
excellent.
The first of the short holes testing the upper portion of the deposit, LRGG-19-019, intersected the Los Ricos
vein from
23.0m
to
43.5m
and encountered an open stope from 27.5 to
29.7m
. The hanging wall portion of the
vein above the stope averaged 1.50 g/t gold, 196.6 g/t silver and 4.13 g/t gold equivalent over
4.5m
and vein
averaged 0.63 g/t gold, 86.0 g/t silver and 1.78 g/t gold equivalent over
13.8m
in the footwall portion of the vein
beneath the stope.
Drill hole LRGG-19-020 cut
14.9m
averaging 1.78 g/t gold, 106.4 g/t silver and 3.20 g/t gold equivalent. Drill
hole LRGG-19-021 intersected the Los Ricos vein from
9.0m
to
38.1m
but encountered a
6.0m
wide open stope
between 16.5 to
22.5m
. The footwall portion of vein immediately below the opening ran 1.15 g/t gold, 113.5 g/t
silver and 2.67 g/t gold equivalent over
15.6m
.
"We are very pleased to see the significant widths and grades encountered in the latest deep drill hole. The
results from the initial short holes confirm that while the former underground operators focused on mining only
the richest portion of the silver-rich Los Ricos vein, we are very encouraged to see the both the hanging wall and
footwall portions of the vein are strongly mineralized this close to surface," stated
Brad Langille
, President and
CEO.
Detailed intersections are in Table 1, and drill holes locations are included 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_20190724.pdf
Table 1: Drill Hole Intersections
Hole ID
Comment
From
To
Length
1
Au
Ag
AuEq
2
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
LRGG-19-018
Main
258.5
279.9
21.4
0.81
170.1
3.08
including
263.2
276.0
12.9
1.24
262.4
4.74
including
268.5
276.0
7.5
1.78
342.4
6.35
LRGG-19-019
Main
23.0
27.5
4.5
1.50
196.6
4.13
Open Stope
3
27.5
29.7
2.2
*
*
*
Main
29.7
43.5
13.8
0.63
86.0
1.78
including
29.7
33.9
4.2
1.52
198.3
4.17
LRGG-19-020
Main
43.8
58.7
14.9
1.78
106.4
3.20
including
45.0
52.0
7.0
3.48
155.6
5.55
LRGG-19-021
Main
9.0
16.5
7.5
0.09
18.1
0.33
Open Stope
4
16.5
22.5
6.0
*
*
*
Main
22.5
38.1
15.6
1.15
113.5
2.67
including
22.5
29.0
6.5
2.38
236.5
5.54
1.
Not true width
2.
AuEq converted using a silver to gold ratio of 75:1
3.
2.2m underground working, no sample
4.
6.0m underground working, no sample
Table 2: Drill Hole Locations
Hole ID
Easting
Northing
Elev
Azimuth
Dip
Length
LRGG-19-018
610424
2327510
1422
50
-50
321.0
LRGG-19-019
610846
2327506
1440
50
-45
63.0
LRGG-19-020
610809
2327472
1423
50
-45
90.0
LRGG-19-021
610828
2327523
1438
50
-45
66.0
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 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/July2019/24/c7859.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E:
CO: GoGold Resources Inc.
CNW 08:30e 24-JUL-19