GoGold Intersects 4.2m of 559 g/t Silver Equivalent and 23.2m of 163 g/t Silver Equivalent at San Juan
GoGold Intersects 4.2m of 559 g/t Silver
Equivalent and 23.2m of 163 g/t Silver Equivalent
at San Juan
Shares Outstanding: 222,106,496
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX
,
April 29, 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, including 3 at
San Juan
and 5 at the Main Area of the project. The positive results continue
to show the strength of the Los Ricos South Project in the Company's Los Ricos district.
Hole LRGG-20-143 was drilled on section 700N in the
San Juan
area of the project and intersected the
Los Ricos quartz vein from 12.5 to
35.7m
. The
23.2m
intersection averaged 163 g/t silver equivalent,
which consisted of 113 g/t silver and 0.68 g/t gold. The intersection included
11.7m
of 224.5 g/t silver
equivalent, or 2.99 g/t gold equivalent.
"The results we're seeing at the
San Juan
area of Los Ricos South are very promising, as this is at the
northern end of that project. As we continue to see strong results from Los Ricos South, we are
encouraged that these are only the first results of the many targets which we plan to explore along the
35km trend in the Los Ricos District. We look forward to testing these in the near future, which bodes
well for the continuing prospects of this exciting district and our shareholders," said
Brad Langille
,
President and CEO.
Hole LRGG-20-145 was drilled on section 750N in the
San Juan
area and intersected
22.3m
of 128 g/t
silver equivalent near surface, consisting of 52 g/t silver and 1.01 g/t gold. The intersect included
10m
of
198 g/t silver equivalent, or 2.64 g/t gold equivalent.
Hole LRGG-20-146 was drilled on section 550N in the Main area and intersected
4.2m
of 559 g/t silver
equivalent from 249.4 to
253.5m
. The intersect consisted of 344 g/t silver and 2.87 g/t gold. The hole
also intersected
10.9m
of backfilled stope from
238.5m
to
249.4m
, prior to intersecting the mineralized
interval.
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_20200429.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-20-142
Main
3
225N
136.3
161.4
20.1
0.33
99.8
1.67
124.9
including
136.3
142.3
6.0
0.97
257.2
4.40
330.1
LRGG-20-143
San Juan
700N
12.5
35.7
23.2
0.68
112.6
2.18
163.4
including
19.7
31.3
11.7
1.00
149.9
2.99
224.5
LRGG-20-144
Main
450N
47.7
74.3
26.6
0.29
47.5
0.92
69.3
including
48.8
53.5
4.7
1.24
128.7
2.95
221.4
LRGG-20-145
San Juan
750N
3.8
26.1
22.3
1.01
52.4
1.71
128.2
including
3.8
13.8
10.0
1.79
63.9
2.64
198.0
LRGG-20-146
Main
550N
249.4
253.5
4.2
2.87
343.8
7.45
558.7
LRGG-20-147
Main
675N
9.0
24.4
15.4
0.79
91.1
2.00
150.0
including
9.0
14.3
5.3
1.54
135.2
3.35
250.9
LRGG-20-148
Main
600N
Hole suspended at 498m due to COVID-19 stoppage
LRGG-20-149
San Juan
775N
194.2
219.7
25.5
0.07
14.4
0.26
19.2
1.
Not true width
2.
AuEq and AqEq converted using a silver to gold ratio of 75:1
3.
Excluding 5.0m of open stopes from historical underground workings.
Table 2: Drill Hole Locations
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Length
LRGG-20-142
610627
2327517
1244
50
-65
211.4
LRGG-20-143
610398
2327945
1304
50
-20
51.0
LRGG-20-144
610558
2327753
1301
50
-45
102.0
LRGG-20-145
610362
2327980
1298
50
-20
54.0
LRGG-20-146
610644
2327956
1465
230
-45
261.0
LRGG-20-147
610417
2327929
1311
50
-20
42.0
LRGG-20-148
610077
2327545
1260
50
-65
499.0
LRGG-20-149
610163
2327846
1256
50
-65
242.4
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 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/April2020/29/c7176.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E:
CO: GoGold Resources Inc.
CNW 08:30e 29-APR-20