GoGold Drills 32.0m averaging 3.18 g/t Gold Equivalent at Los Ricos
GoGold Drills 32.0m averaging 3.18 g/t Gold
Equivalent at Los Ricos
Trading Symbol: TSX: GGD
Shares Outstanding: 171,901,481
HALIFAX
,
June 26, 2019
/CNW/ -
GoGold Resources Inc. (TSX: GGD) ("GoGold", "the
Company")
continues to deliver strong assay results from two new diamond drill holes at the recently
acquired 29 concession Los Ricos project located about 100 km northwest of the city of
Guadalajara,
Mexico
.
Diamond drill hole LRGG-19-017 intersected
32.0m
averaging 0.80 g/t gold, 178.8 g/t silver and 3.18 g/t
gold equivalent, including
11.3m
averaging 1.46 g/t gold, 347.8 g/t silver and 6.1 g/t gold equivalent.
Diamond drill hole LRGG-19-016 intersected the Los Ricos vein from
80.8m
to
106.5m
and encountered
an open stope from 85.8 to
88.3m
. The hanging wall portion of the vein above the stope averaged 0.52
g/t gold, 160.6 g/t silver and 2.66 g/t gold equivalent over
5.0m
and vein averaged 0.90 g/t gold, 138.6 g/t
silver and 2.75 g/t gold equivalent over
18.3m
in the footwall portion of the vein beneath the stope.
"We are very encouraged to see so much of the Los Ricos vein remains in place so close to the surface.
Underground mining in the early 1900's focused on the highest grade silver mineralization over widths of 1
to 3 meters, but they left 75 to 90% of the mineralization in place," 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 of the holes drilled at Los Ricos to date is available at
https://gogoldresources.com/component/rsfiles/preview?path=diagrams/LosRicos_LongSec_20190625.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-19-016
Main
80.8
85.8
5.0
0.52
160.6
2.66
Open Stope
3
85.8
88.3
2.5
*
*
*
including
91.7
98.1
6.3
2.14
336.7
6.63
LRGG-19-017
Main
83.2
115.2
32.0
0.80
178.8
3.18
including
83.2
94.5
11.3
1.46
347.8
6.10
1.
Not true width
2.
AuEq converted using a silver to gold ratio of 75:1
3.
2.5m underground working, no sample
Table 2: Drill Hole Locations
Hole ID
Easting
Northing
Elev
Azimuth
Dip
Final
LRGG-19-016
610672
2327555
1436
50
-50
150.00
LRGG-19-017
610706
2327519
1427
50
-60
130.50
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/June2019/26/c2161.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E:
CO: GoGold Resources Inc.
CNW 08:30e 26-JUN-19