GoGold Drills 31.0m of 207 g/t AgEq including 11.2m of 440 g/t AgEq at La Trini in Los Ricos North
GoGold Drills 31.0m of 207 g/t AgEq including
11.2m of 440 g/t AgEq at La Trini in Los Ricos
North
Shares Outstanding: 264,166,768
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX, NS
,
Oct. 14, 2020
/CNW/ -
GoGold Resources Inc.
(TSX: GGD) (OTCQX:
GLGDF)
("GoGold", "the Company")
is pleased to release additional assay results from the
Company's La Trini deposit on the Los Ricos North project, including
31.0m
of 207 g/t silver
equivalent ("AgEq") from hole LRGT-20-37.
Cross Section of Drilling at La Trini (CNW Group/GoGold Resources Inc.)
Hole LRGT-20-037 was drilled at the La Trini deposit and intersected a silicified and altered quartz
rhyolite unit from 34.8 to
65.8m
for
31.0m
of 207 g/t AgEq, consisting of 95 g/t silver and 1.50 g/t
gold. The intersect included
11.2m
of 440g/t AgEq, which was made up of 165 g/t silver and 3.67 g/t
gold, which began at a depth of
38.7m
.
"The La Trini deposit continues to deliver wide widths of strong silver and gold mineralization. Also,
we have drilling operations at Salomon-Favor and have initiated drilling at a newly discovered zone
called El Orito, which is approximately 1.5 km west of Salomon-Favor. We see Los Ricos North as a
large mineralized system and over the coming weeks and months we expect to expand on this with
our aggressive exploration program," said
Brad Langille
, President and CEO.
Hole LRGT-20-039 intersected
34.5m
of 138 g/t AgEq from 31.8 to
66.3m
, consisting of 79 g/t silver
and 0.79 g/t gold, which included a higher grade core of
5.6m
of 410 g/t AgEq.
Hole LRGT-20-031 intersected mineralization from 38.9 to
62.9m
for
24.0m
of 112 g/t AgEq which
was made up of 52 g/t silver and 0.80 g/t gold. The intersect included
6.0m
of 312 g/t AgEq, made
up of 104 g/t silver and 4.16 g/t gold. Additional mineralization was intersected from 68.7 to
77.7m
for
9.0m
of 65 g/t AgEq.
Currently the Company has 6 drill rigs operating at Los Ricos North, with 3 operating at the La Trini
target, 2 drilling at the Salomon-Favor target, and 1 drilling at El Orito. Detailed intersections are
listed in Table 1 and the hole locations are shown in Table 2.
A cross section of the intercepts at La Trini, drill plan map, topographical view of the drilling to date,
and a map of the Los Ricos North drilling sites and surface sampling is available at
https://gogoldresources.com/images/uploads/files/LRN20201014.pdf
.
Table 1: Drill Hole Intersections
Hole ID
Area
From
To
Length
1
Au
Ag
AuEq
2
AgEq
2
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
(g/t)
LRGT-20-028
La Trini
14.0
24.0
10.0
0.10
23.9
0.42
31.7
and
46.1
50.9
4.8
0.04
40.7
0.59
43.9
LRGT-20-029
La Trini
20.6
26.9
6.3
1.42
126.9
3.11
233.3
and
44.0
55.8
11.8
0.05
14.8
0.25
18.7
LRGT-20-030
La Trini
2.4
21.2
18.8
0.24
30.4
0.64
48.1
LRGT-20-031
La Trini
38.9
62.9
24.0
0.80
51.5
1.49
111.9
including
41.7
47.7
6.0
2.78
103.5
4.16
312.0
and
68.7
77.7
9.0
0.28
44.1
0.87
65.3
LRGT-20-034
La Trini
52.7
76.2
23.5
0.16
96.9
1.45
108.8
including
52.7
63.2
10.5
0.26
160.8
2.41
180.4
LRGT-20-035
La Trini
149.0
158.0
9.0
0.29
30.9
0.70
52.6
LRGT-20-036
La Trini
2.0
14.0
12.0
0.13
27.1
0.49
36.5
and
58.0
87.2
29.2
0.10
23.0
0.41
30.6
LRGT-20-037
La Trini
34.8
65.8
31.0
1.50
94.6
2.76
207.2
including
38.7
49.8
11.2
3.67
165.3
5.87
440.4
LRGT-20-038
La Trini
41.8
52.9
11.1
0.02
29.2
0.41
30.5
LRGT-20-039
La Trini
31.8
66.3
34.5
0.79
78.7
1.84
138.1
including
33.2
38.8
5.6
3.08
179.3
5.47
409.9
LRGT-20-040
La Trini
49.6
56.6
7.0
0.06
31.8
0.49
36.6
and
66.6
74.8
8.2
0.11
31.5
0.53
39.4
and
81.7
94.8
13.1
0.13
42.2
0.69
51.6
LRGT-20-041
La Trini
27.1
52.8
25.7
0.21
38.0
0.72
53.8
including
30.8
41.8
11.0
0.40
45.5
1.01
75.7
and
71.8
75.8
4.0
0.04
37.0
0.53
40.1
LRGT-20-042
La Trini
47.0
71.0
24.0
0.16
39.3
0.68
51.3
including
50.0
57.0
7.0
0.33
62.1
1.16
86.7
1.
Not true width
2.
AuEq and AqEq converted using a silver to gold ratio of 75:1
Table 2: Drill Hole Locations
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Length
LRGT-20-028
582828
2339718
890
210
-65
152.0
LRGT-20-029
582850
2339706
897
180
-65
94.8
LRGT-20-030
582806
2339731
878
210
-65
153.0
LRGT-20-031
582925
2339686
928
180
-65
136.7
LRGT-20-034
582875
2339759
920
180
-65
146.0
LRGT-20-035
583038
2339900
952
360
-90
200.0
LRGT-20-036
583150
2339570
942
180
-65
111.0
LRGT-20-037
583000
2339665
914
180
-60
109.8
LRGT-20-038
583000
2339630
906
180
-60
80.0
LRGT-20-039
582950
2339676
909
180
-60
151.8
LRGT-20-040
583050
2339661
920
180
-60
110.0
LRGT-20-041
582857
2339768
887
210
-65
139.8
LRGT-20-042
583050
2339595
920
180
-60
92.0
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 includes the 'Main' area, which is focused on
drilling around a number of historical mines including
El Abra
, El Troce,
San Juan
, and Rascadero,
as well as the
Cerro Colorado
, Las Lamas and East Vein targets. An initial resource on the Los
Ricos South project was announced on
July 29, 2020
and 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.
The Los Ricos North Project was launched in
March 2020
and includes drilling at the Salomon-Favor,
La Trini, and Mololoa targets.
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 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 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 Parral tailings project, the Los Ricos South and
North projects, future operating margins, future production and processing, and future plans and
objectives of GoGold, including the timing for completing an initial resources estimate at Los Ricos
North, 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 to download multimedia:
http://www.newswire.ca/en/releases/archive/October2020/14/c7488.html
%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 14-OCT-20