GoGold Intersects 16.5m at 8.77 g/t Gold Equivalent Including 4.8m at 14.3 g/t Gold Equivalent
GoGold Intersects 16.5m at 8.77 g/t Gold Equivalent
Including 4.8m at 14.3 g/t Gold Equivalent
Shares Outstanding: 186,067,211
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX
,
Jan. 7, 2020
/CNW/ -
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the
Company")
is pleased to release the assay results from 5 new diamond drill holes at the Los Ricos project
including 3 holes along the northern side of the Main stopes and 2 holes testing the southern extension of the
Main area past the historical stopes.
Hole LRGG-19-079 was drilled to test about
25m
past the north end of the historical stope on Section
500N. The hole intersected the Los Ricos quartz vein from 128.2 to
144.7m
and averaged 8.77 g/t gold
equivalent or 657.8 g/t silver equivalent, made up of 4.29 g/t gold and 335.8 g/t silver over 16.5 metres. Two
higher grade intervals of
4.8m
averaging 14.3 g/t gold equivalent and
6.2m
averaging 11.0 g/t gold equivalent
are included in the interval. No historical workings were encountered in this hole.
Hole LRGG-19-081 was drilled on Section 500N approximately
50m
down dip of hole LRGG-19-079 and
intersected
17.4m
of quartz vein from 189.7 to
207.1m
averaging 2.80 g/t gold equivalent or 209.8 g/t silver
equivalent, including
6.1m
of 7.05 g/t gold equivalent. No historical workings were encountered in the hole.
Hole LRGG-19-080 was drilled on Section 500N approximately
100m
down dip of hole LRGG-19-081 and
intersected two sections of the Los Ricos quartz vein. The upper intersection extended from 274.3 to
279.5m
and averaged 2.01 gold equivalent over
5.2m
. The hole passed through several sections of gouge and faulted
ground and cut a second interval of the Los Ricos vein from 325.5 to
342.0m
. Three metres of backfilled mine
workings were cut in this portion of the vein. The
13.5m
interval of intact core averaged 3.73 g/t gold equivalent
consisting of 0.87 g/t gold and 214.8 g/t silver.
"We've drilled over
17,000m
to date on the project, and continue to see wide zones of high-grade silver and gold
mineralization in the Los Ricos vein, such as those in hole 79 which has potential to be a bulk mining target," said
Brad Langille
, President and CEO.
Holes LRGG-19-078 and 082 were drilled to test the strike extension of the Los Ricos vein past the southern
end of the historical stopes. Hole LRGG-19-078 cut
22.0m
of the Los Ricos vein from 178.2 to
200.1m
and
averaged 0.22 g/t gold, 59.9 g/t silver and 1.01 g/t gold equivalent. No workings were cut in the hole.
Hole LRGG-19-082 cut
26.9m
of the Los Ricos vein from 169.7 to
196.6m
but encountered
3.4m
of backfilled
mine workings. The
23.5m
interval of intact core averaged 2.63 g/t gold equivalent consisting of 0.79 g/t gold
and 137.8 g/t silver.
In 2019, GoGold completed 112 diamond drill holes totaling
17,373m
of HQ size diamond drill core since
starting the Los Ricos drilling program in March 2019. The majority of the holes (92) and metres were drilled at
the Main area. Twenty short holes were drilled on the
Cerro Colorado
deposit. The drilling program resumes this
week and will continue to test the strike and depth extensions of the Main area and other targets on the
property.
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%252FLosRicos_LongSec_20200107.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-19-078
Main South
250N
178.2
200.1
22.0
0.22
59.9
1.01
76.6
LRGG-19-079
Main
500N
128.2
144.7
16.5
4.29
335.8
8.77
657.8
including
129.2
134.0
4.8
3.90
782.0
14.32
1,074.4
including
137.5
143.7
6.2
8.16
212.5
11.00
824.2
and
150.8
161.5
10.7
0.08
22.7
0.38
28.7
LRGG-19-080
Main
500N
274.3
279.5
5.2
1.10
68.6
2.01
151.0
and
3
325.5
342.0
13.5
0.87
214.8
3.73
279.8
LRGG-19-081
Main
500N
189.7
207.1
17.4
0.77
152.4
2.80
209.8
including
201.0
207.1
6.1
2.07
373.0
7.05
528.6
LRGG-19-082
Main South
4
200N
169.7
196.5
23.5
0.17
43.5
0.75
56.5
including
180.0
183.0
3.0
0.79
137.8
2.63
197.0
1.
Not true width
2.
AuEq and AqEq converted using a silver to gold ratio of 75:1
3.
Excludes 3.0m of open stopes from historical underground workings
4.
Excludes 3.4m of open stopes from historical underground workings
Table 2: Drill Hole Locations
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Length
LRGG-19-078
610580
2327511
1429
50
-65
238.2
LRGG-19-079
610441
2327719
1451
50
-65
172.5
LRGG-19-080
610320
2327618
1429
50
-65
375.0
LRGG-19-081
610405
2327690
1410
50
-65
241.5
LRGG-19-082
610623
2327481
1421
50
-65
245.0
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/January2020/07/c4332.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E:
CO: GoGold Resources Inc.
CNW 08:30e 07-JAN-20