GoGold Intersects 18.9m at 648 g/t Silver Equivalent Including 5.0m at 2,381 g/t Silver Equivalent
GoGold Intersects 18.9m at 648 g/t Silver Equivalent
Including 5.0m at 2,381 g/t Silver Equivalent
Shares Outstanding: 186,148,461
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX
,
Jan. 22, 2020
/CNW/ -
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the
Company")
is pleased to release the assay results from 9 diamond drill holes of the 2019 drilling program on
the Los Ricos project including 6 holes along the northern side of the Main Mine stopes, a deep hole in the Main
Stope, a hole along the south side of the stope and an exploration hole to the north of the
San Juan
workings.
Hole LRGG-19-088 was drilled to test for a northern strike extension of the Los Ricos vein about
65m
past the
north end of the historical stope on Section 600N. The hole intersected the Los Ricos quartz vein from 218.1 to
237.0m
and averaged 8.63 g/t gold equivalent or 647.0 g/t silver equivalent, made up of 2.01 g/t gold and 496.4
g/t silver over 18.9 metres. A higher-grade section of the interval averaged 31.74 g/t gold equivalent or 2,380.8
g/t silver equivalent over
5.0m
. No historical workings were encountered in this hole.
"The majority of our past drilling has focussed on the historical mine at Los Ricos. The high grade hole 88 opens
up what we believe is a new ore shoot to the northwest which we will continue to focus additional drilling. This
drilling can potentially yield additional high grade intercepts which could be a bulk minable target," said
Brad
Langille
, President and CEO.
Five other holes, LRGG-19-087, 089, 090, and 091 all intersected the Los Ricos vein above the historical 300
Foot Level and north of the old Stopes. None of the new holes cut any underground workings. Hole LRGG-19-
083 was abandoned in the Hanging Wall andesitic tuffs at a depth of
183m
, well above the Los Ricos vein.
Hole LRGG-19-085 was drilled on Section 450N to test the Main Stope on the 750 Foot Level of the historical
workings. The hole entered a
12.0m
wide backfilled stope at
342.0m
and then intersected
16.8m
of the Los
Ricos quartz vein from 354.0 to
370.8m
averaging 1.51 g/t gold equivalent or 113.1 g/t silver equivalent.
Hole LRGG-19-084 was drilled on Section 200N and intersected the Los Ricos quartz vein averaging 0.68 g/t
gold equivalent over 7.5 from 218.0 to
225.5m
. Hole LRGG-19-086 was an exploration hole testing the
Rascadero quartz vein from 194.6 to
209.9m
. The vein was weakly mineralized over the entire intersection.
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_20200122.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-19-083
Main
500N
Abandoned in Hanging Wall above Los Ricos Vein
LRGG-19-084
Main
200N
218.0
225.5
7.5
0.29
29.3
0.68
51.1
LRGG-19-085
Stope
450N
342.0
354.0
12.0
Historical working – backfilled stope
Main
354.0
370.8
16.8
0.36
86.1
1.51
113.1
LRGG-19-086
El Troce
1000N
194.6
209.9
15.3
0.06
12.1
0.22
16.6
Including
195.2
196.5
1.3
0.27
44.4
0.86
64.8
LRGG-19-087
Main
550N
219.4
236.4
17.1
0.21
60.0
1.01
76.0
including
220.5
225.0
4.5
0.60
103.8
1.99
148.9
LRGG-19-088
Main
600N
218.1
237.0
18.9
2.01
496.4
8.63
647.0
including
227.3
232.3
5.0
7.30
1833.4
31.74
2,380.8
LRGG-19-089
Main
550N
168.4
191.0
22.7
0.63
64.9
1.49
112.0
including
171.2
177.9
6.7
1.76
113.8
3.28
245.7
LRGG-19-090
Main
650N
194.4
207.3
12.9
0.57
96.5
1.86
139.4
including
195.4
202.0
6.5
1.08
174.9
3.41
256.0
LRGG-19-091
Main
600N
185.9
199.8
13.9
0.62
80.1
1.69
126.8
including
185.9
191.7
5.8
1.34
141.2
3.23
242.1
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-19-083
610371
2327662
1440.0
50.0
-65.0
183.00
LRGG-19-084
610587
2327454
1220.5
50.0
-65.0
280.40
LRGG-19-085
610323
2327556
1229.0
50.0
-65.0
402.00
LRGG-19-086
610076
2328075
1303.9
50.0
-65.0
275.60
LRGG-19-087
610346
2327704
1250.1
50.0
-65.0
283.50
LRGG-19-088
610296
2327729
1421.0
50.0
-65.0
260.60
LRGG-19-089
610377
2327735
1262.8
50.0
-65.0
240.00
LRGG-19-090
610273
2327775
1427.0
50.0
-65.0
254.40
LRGG-19-091
610326
2327754
1434.0
50.0
-65.0
231.00
In 2019, GoGold completed 112 diamond drill holes totaling
17,373.3m
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 Mine. Twenty short holes were drilled on the
Cerro Colorado
deposit. The drilling program continues in
2020 and will continue to test the strike and depth extensions of the Main Mine and other targets 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/January2020/22/c0877.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E:
CO: GoGold Resources Inc.
CNW 08:30e 22-JAN-20