GoGold Intersects 26m at 2.97 g/t Gold Equivalent Including 4m at 14.16 g/t Gold Equivalent
GoGold Intersects 26m at 2.97 g/t Gold Equivalent
Including 4m at 14.16 g/t Gold Equivalent
Trading Symbol: TSX: GGD
Shares Outstanding: 185,985,961
HALIFAX
,
Nov. 20, 2019
/CNW/ -
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the
Company")
is pleased to release the assay results from 10 new diamond drill holes at the Los Ricos project,
with 4 holes in the Main area, 4 holes in the
San Juan
area and 2 in the southern area of the project.
Hole LRGG-19-056, drilled in the Main area, intersected
26.0m
at 296.0 to
325.0m
, averaging 2.97 g/t gold
equivalent or 222.8 g/t silver equivalent, made up of 0.50 g/t gold and 185.5 g/t silver, including
4.0m
of 14.16
g/t gold equivalent. Historical workings of
3.0m
were encountered in this hole. This is the second deepest hole
drilled at the Los Ricos project to date, eclipsed by hole LRGG-19-061 which intersected
18.0m
of 0.80 g/t gold
equivalent from 324.4 to
349.2m
, although
6.8m
within this intersection included void due to historical
underground workings.
"Holes 56 and 61 are the deepest holes drilled to date at Los Ricos, and shows the project continues to be open
at depth with strong mineralization. We still see a broader mineralized zone of over 20 metres at these depths
which may be amenable to deeper bulk mining and also shows a high-grade core within these broader zones
which may represent underground mining targets," said
Brad Langille
, President and CEO.
Hole LRGG-19-063 was drilled in the Main area and intersected
24.5m
at 98.0 to
122.5m
, averaging 1.67 g/t
gold equivalent or 125.1 g/t silver equivalent, made up of 0.53 g/t gold and 85.3 g/t silver, including
5.3m
of 4.96
g/t gold equivalent. No historical workings were encountered.
Hole LRGG-19-069 was drilled in the
San Juan
area and intersected
16.3m
of 2.48 g/t gold equivalent from
107.0 to
128.5m
, consisting of 1.11 g/t gold and 103.0 g/t silver. This hole encountered voids due to historical
workings totalling
5.3m
. Included in this intersection was
3.0m
of 8.24 g/t gold equivalent or 618 g/t silver
equivalent.
Hole LRGG-19-068 was drilled in the south end of the Main area and intersected
7.8m
from 161.9 to
169.7m
,
averaging 3.07 g/t gold equivalent or 230.1 g/t silver equivalent, consisting of 0.92 g/t gold and 161.1 g/t silver,
including
3.2m
of 6.96 g/t gold equivalent. The hole is along the southern edge of mineralization found at the
project and is more than
100m
deeper than hole LRGG-19-009 which intersected
21.2m
of 24.6 g/t gold
equivalent (per press release dated
May 14, 2019
).
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_20191120.pdf
Table 1: Drill Hole Intersections
Hole ID
Area
From
To
Length
1
Au
Ag
AuEq
2
AgEq
2
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
(g/t)
LRGG-19-056
Main
3
296.0
325.0
26.0
0.50
185.5
2.97
222.8
including
312.0
316.0
4.0
1.89
920.0
14.16
1,062.1
LRGG-19-061
Main
4
324.4
349.2
18.0
0.08
54.2
0.80
60.3
including
337.7
340.8
3.1
0.04
108.5
1.49
111.9
LRGG-19-062
San Juan
88.5
106.5
18.0
0.20
45.1
0.80
59.7
including
90.0
93.0
3.0
0.63
118.0
2.20
165.3
LRGG-19-063
Main
98.0
122.5
24.5
0.53
85.3
1.67
125.1
including
103.5
108.9
5.3
1.90
228.8
4.96
371.6
LRGG-19-064
Main
112.0
127.5
15.5
0.25
52.4
0.95
71.2
LRGG-19-066
San Juan
140.5
155.5
15.0
0.32
44.8
0.91
68.5
LRGG-19-067
San Juan
88.5
101.5
13.0
0.15
30.7
0.56
41.9
LRGG-19-068
Main South
161.9
169.7
7.8
0.92
161.1
3.07
230.1
including
162.8
166.0
3.2
2.14
361.4
6.96
521.7
LRGG-19-069
San Juan
5
107.0
128.5
16.3
1.11
103.0
2.48
186.1
including
120.8
123.8
3.0
3.56
351.2
8.24
618.0
LRGG-19-070
Main South
119.1
128.7
9.6
0.02
14.3
0.21
15.6
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 6.8m of open stopes from historical underground workings
5
.
Excludes 5.3m of open stopes from historical underground workings
Table 2: Drill Hole Locations
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Length
LRGG-19-056
610392
2327556
1432
50
-65
340.0
LRGG-19-061
610447
2327464
1413
50
-65
375.0
LRGG-19-062
610396
2327813
1463
50
-45
129.0
LRGG-19-063
610422
2327770
1458
50
-45
171.0
LRGG-19-064
610422
2327770
1458
50
-65
163.5
LRGG-19-066
610360
2327783
1447
50
-65
180.0
LRGG-19-067
610367
2327854
1463
50
-65
127.5
LRGG-19-068
310718
2327398
1401
50
-65
199.0
LRGG-19-069
610337
2327829
1453
50
-65
160.5
LRGG-19-070
610765
2327437
1410
50
-65
180.0
In
mid-October 2019
, GoGold completed the Phase 1 diamond drilling program consisting of
10,000 m
of HQ
size diamond drill core that began in
March 2019
. The Phase II program has started and a third drill machine
was added to the program.
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 program has
now been expanded for additional testing along 3.2 km of the Los Ricos mineralized zone.
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/November2019/20/c0082.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E:
CO: GoGold Resources Inc.
CNW 08:30e 20-NOV-19