GoGold Intersects 18.8m Near Surface of 255 g/t Silver Equivalent at Los Ricos South Project
GoGold Intersects 18.8m Near Surface of 255 g/t
Silver Equivalent at Los Ricos South Project
Shares Outstanding: 222,025,246
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX
,
March 24, 2020
/CNW/ -
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF)
("GoGold", "the Company")
is pleased to release the assay results from 8 diamond drill holes at the
Los Ricos South Project in the Company's Los Ricos district project, including three at
San Juan
and five
in the Main area.
Hole LRGG-20-117 was drilled on Section 425N in the Main area of the project and intersected the Los
Ricos quartz vein from 3.0 to
21.8m
. The vein averaged 255 g/t silver equivalent or 3.39 g/t gold
equivalent, made up of 129 g/t silver and 1.68 g/t gold over 18.8 metres.
"Drilling continues at Los Ricos with 6 drill rigs as we accelerate the drilling required for our initial
resource. At the Los Ricos North Project we continue with the groundwork preparing for an upcoming drill
campaign, which we anticipate commencing after the Easter break," said
Brad Langille
, President and
CEO. "We continue to monitor the COVID-19 developments in
Mexico
and have implemented additional
safety procedures at both Los Ricos and Parral as described in PR#11 dated
March 18, 2020
."
Hole LRGG-20-115 was drilled in the Main area of the project on section 400N and intersected
19.5m
of
199 g/t silver equivalent or 2.65 g/t gold equivalent from 4.5 to
24.0m
, consisting of 153 g/t silver and
0.61 g/t gold. Also included in the intersection was
9.6m
of 370 g/t silver equivalent and 4.93 g/t gold
equivalent.
Hole LRGG-20-119 was drilled in the Main area of the project on section 450N and intersected
26.4m
at
surface of 203 g/t silver equivalent or 2.71 g/t gold equivalent, consisting of 135 g/t silver and 0.91 g/t
gold. Also included in the intersection was
12.6m
of 316 g/t silver equivalent and 4.21 g/t gold equivalent.
Hole LRGG-20-114 became stuck in the hanging wall in section 100N of the Main area and was therefore
abandoned.
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_20200324.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-20-112
San Juan
775N
130.9
136.3
5.3
0.19
39.9
0.73
54.5
and
144.1
153.8
9.8
0.33
52.7
1.03
77.4
LRGG-20-113
Main
75N
4.0
21.3
17.3
0.47
54.7
1.20
90.1
LRGG-20-114
Main
100N
Abandoned in Hanging Wall above Los Ricos Vein
LRGG-20-115
Main
400N
4.5
24.0
19.5
0.61
152.8
2.65
198.7
including
4.5
14.1
9.6
1.17
281.3
4.93
369.5
LRGG-20-116
San Juan
775N
26.0
36.6
10.6
0.37
52.6
1.07
80.2
LRGG-20-117
Main
425N
3.0
21.8
18.8
1.68
128.5
3.39
254.5
LRGG-20-118
San Juan
700N
97.0
116.8
19.8
0.38
58.2
1.16
86.9
including
107.6
110.3
2.7
1.66
142.1
3.56
266.7
LRGG-20-119
Main
450N
0.0
26.4
26.4
0.91
135.0
2.71
203.2
including
8.4
21.0
12.6
1.60
196.0
4.21
315.7
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
LRGG-20-112
610210
2327887
1248
50
-65
183.0
LRGG-20-113
610866
2327502
1278
50
-20
42.0
LRGG-20-114
610828
2327523
1259
50
-20
15.0
LRGG-20-115
610828
2327523
1259
50
-20
40.5
LRGG-20-116
610333
2327989
1290
50
-45
63.0
LRGG-20-117
610598
2327754
1290
50
-20
49.5
LRGG-20-118
610322
2327882
1273
50
-45
130.5
LRGG-20-119
610582
2327773
1303
50
-20
60.0
Los Ricos Exploration Projects
The Company is undertaking two drilling and exploration projects at its Los Ricos property located 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 this month 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 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/March2020/24/c4773.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E:
CO: GoGold Resources Inc.
CNW 08:30e 24-MAR-20