GoGold Intersects 11.6m of 610 g/t Silver Equivalent Near Surface, and 4.2m of 880 g/t Silver Equivalent at San Juan
GoGold Intersects 11.6m of 610 g/t Silver
Equivalent Near Surface, and 4.2m of 880 g/t
Silver Equivalent at San Juan
Shares Outstanding: 222,106,496
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX
,
April 15, 2020
/CNW/ -
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold",
"the Company")
is pleased to release the assay results from 10 diamond drill holes that continue to
increase the potential size of the Los Ricos South Project in the Company's Los Ricos district, including
four at
San Juan
and six in the Main area.
Hole LRGG-20-129 was drilled on section 650N in the Main area of the project and intersected the Los
Ricos quartz vein near surface from 15.0 to
51.0m
. The
33.0m
intersection, excluding
3.0m
of historically
mined voids, averaged 283 g/t silver equivalent, made up of 193 g/t silver and 1.20 g/t gold, and included
11.6m
of 610 g/t silver equivalent, or 8.13 g/t gold equivalent.
"The strong results in the
San Juan
area of the Los Ricos South Project are promising as we believe they
will increase the number of silver equivalent ounces in our future resource. Hole 129 represents a wide
zone of very high-grade mineralization very close to surface. These are the results we like to see when
working towards an external 43-101 compliant resource model," said
Brad Langille
, President and CEO.
Hole LRGG-20-127 was drilled on section 700N in the
San Juan
area and intersected the Los Ricos
quartz vein from
228.5m
to
239.0m
, for
10.6m
of 371 g/t silver equivalent, or 4.94 g/t gold equivalent,
made up of 264 g/t silver and 1.42 g/t gold. Included in the intersection was
4.2m
of 880 g/t silver
equivalent, or 11.74 g/t gold equivalent.
Hole LRGG-20-121 was drilled on section 700N in the
San Juan
area of the project and intersected the
Los Ricos quartz vein from 152.6 to
186.0m
. The
33.5m
intersection averaged 76 g/t silver equivalent,
made up of 53 g/t silver and 0.32 g/t gold, and included
4.9m
of 330 g/t silver equivalent, or 4.40 g/t gold
equivalent.
Detailed intersections are listed in Table 1, and the hole locations are shown 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/LosRicos_LongSec_20200415.pdf
Table 1: Drill Hole Intersections
Hole ID
Area
Section
From
To
Length
1
Au
Ag
AuEq
2
AgEq
2
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
(g/t)
LRGG-20-120
Main
475N
10.5
15.0
4.5
0.11
37.6
0.61
46.0
LRGG-20-121
San Juan
700N
152.6
186.0
33.5
0.32
52.5
1.02
76.2
including
158.1
163.0
4.9
1.58
211.2
4.40
329.9
LRGG-20-122
Main
550N
37.4
51.0
13.6
0.25
74.0
1.24
92.8
including
41.2
47.9
6.7
0.41
114.7
1.94
145.5
LRGG-20-123
San Juan
3
725N
39.0
65.4
22.1
0.31
41.8
0.87
65.0
including
41.5
45.0
3.5
0.67
71.4
1.62
121.7
LRGG-20-124
Main
625N
260.4
266.0
5.6
1.41
181.4
3.83
287.1
LRGG-20-125
Main
625N
12.0
39.6
27.6
0.31
63.0
1.15
86.0
including
27.0
32.2
5.2
0.84
125.4
2.51
188.2
LRGG-20-126
San Juan
725N
73.0
98.7
25.7
0.48
56.5
1.23
92.2
including
74.6
80.8
6.2
0.98
97.0
2.27
170.5
LRGG-20-127
San Juan
700N
228.5
239.0
10.6
1.42
264.0
4.94
370.6
including
229.5
233.6
4.2
3.54
614.9
11.74
880.2
LRGG-20-128
Main
625N
68.0
99.8
31.8
0.11
36.0
0.59
44.6
LRGG-20-129
Main
4
650N
15.0
51.0
33.0
1.20
193.4
3.78
283.3
including
33.0
44.6
11.6
2.76
402.7
8.13
609.6
1.
Not true width
2.
AuEq and AgEq converted using a silver to gold ratio of 75:1
3.
Excluding 4.3m of open stopes from historical underground workings.
4.
Excluding 3.0m of open stopes from historical underground workings.
Table 2: Drill Hole Locations
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Length
LRGG-20-120
610563
2327790
1307
50
-20
21.0
LRGG-20-121
610247
2327818
1251
50
-65
243.0
LRGG-20-122
610497
2327833
1305
50
-20
67.5
LRGG-20-123
610353
2327940
1290
50
-45
84.0
LRGG-20-124
610216
2327695
1224
50
-45
299.0
LRGG-20-125
610443
2327885
1303
50
-20
64.5
LRGG-20-126
610318
2327911
1286
50
-45
120.0
LRGG-20-127
610189
2327770
1227
50
-65
277.7
LRGG-20-128
610429
2327873
1295
50
-45
161.0
LRGG-20-129
610432
2327908
1309
50
-20
51.0
Los Ricos Exploration Projects
Drilling at the Los Ricos projects is temporarily suspended due to COVID-19 to ensure the safety of the
Company's employees, contractors, and surrounding communities, in compliance with the Mexican
Federal government's mandate that all non-essential business temporarily suspend activities. The
Company continues to receive assaying results on drill holes completed previous to the suspension of
drilling, which are in the assaying process.
The Company's two exploration projects at its Los Ricos property are in
Jalisco
state, Mexico. The 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. The South Project also includes
the
Cerro Colorado
and Las Lamas targets. The North Project was launched in
March 2020
and includes
the Monte del Favor, Salomon, 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 include 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/April2020/15/c4949.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E:
CO: GoGold Resources Inc.
CNW 08:30e 15-APR-20