GoGold Drills 23.3m averaging 4.47 g/t Gold Equivalent at Los Ricos
GoGold Drills 23.3m averaging 4.47 g/t Gold
Equivalent at Los Ricos
Trading Symbol: TSX: GGD
Shares Outstanding: 171,901,481
HALIFAX
,
July 31, 2019
/CNW/ -
GoGold Resources Inc. (TSX: GGD) ("GoGold", "the Company")
is
pleased to release the assay results from five new diamond drill holes at the Los Ricos project located about
100 km northwest of the city of
Guadalajara
, Mexico.
Drill hole LRGG-19-022 intersected
23.3m
of the Los Ricos quartz vein from
170.4m
to
193.7m
averaging 1.78
g/t gold, 201.5 g/t silver and 4.47 g/t gold equivalent, including a
10.0m
interval averaging 3.58 g/t gold, 389.6
g/t silver and 8.78 g/t gold equivalent. No workings were encountered in the hole and core recoveries were
excellent. This hole intersected the Los Ricos vein to the north of the prolific North Cinco Minas Stope in the
historical underground workings.
Drill holes LRGG-19-023 to 026 are the short holes testing the upper portion of the deposit at intervals of
25m
along strike. LRGG-19-026 intersected an open void where the high grade gold-silver mineralization was mined
out.
Drill hole LRGG-19-025 intersected the Los Ricos vein from
34.9m
to
59.5m
and averaged 1.30 g/t gold, 135.0
g/t silver and 3.10 g/t gold equivalent over
24.6m
, including a
15.5m
interval averaging 2.00 g/t gold, 203.3 g/t
silver and 4.71 g/t gold equivalent. Core recoveries were excellent and no mine workings were encountered.
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_20190731.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-19-022
Main
170.4
193.7
23.3
1.78
201.5
4.47
including
171.5
181.5
10.0
3.58
389.6
8.78
LRGG-19-023
Main
34.0
58.0
24.0
0.61
126.0
2.29
including
34.0
48.7
14.7
0.93
200.8
3.61
LRGG-19-024
Main
25.0
30.0
5.0
0.36
30.8
0.77
LRGG-19-025
Main
34.9
59.5
24.6
1.30
135.0
3.10
including
34.9
50.4
15.5
2.00
203.3
4.71
LRGG-19-026
Main
4.0
9.7
5.7
1.29
201.1
3.98
Open Stope
3
9.7
11.3
1.6
*
*
*
Main
11.3
29.5
18.2
0.16
34.5
0.62
1
.
Not true width
2
.
AuEq converted using a silver to gold ratio of 75:1
3
.
1.6m underground working, no sample
Table 2: Drill Hole Locations
Hole ID
Easting
Northing
Elev
Azimuth
Dip
Length
LRGG-19-022
610446
2327659
1462
50
-50
145.4
LRGG-19-023
610792
2327525
1436
50
-45
76.5
LRGG-19-024
610814
2327544
1432
50
-45
60.0
LRGG-19-025
610770
2327540
1434
50
-45
81.0
LRGG-19-026
610786
5357567
1432
50
-45
51.0
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/July2019/31/c5175.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E:
CO: GoGold Resources Inc.
CNW 08:30e 31-JUL-19