GoGold Intersects 9.5m at 430 g/t Silver Equivalent at Los Ricos South Project
GoGold Intersects 9.5m at 430 g/t Silver Equivalent
at Los Ricos South Project
Shares Outstanding: 222,025,246
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX
,
March 10, 2020
/CNW/ -
GoGold Resources Inc.
(TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the
Company")
is pleased to release the assay results from 11 diamond drill holes at the South Project in the
Company's Los Ricos district project, including two at
San Juan
and nine in the Main area.
Hole LRGG-20-106 was drilled on Section 775N in the
San Juan
area of the project and intersected the Los
Ricos quartz vein from 101.1 to
122.0m
. The vein averaged 219 g/t silver equivalent or 2.92 g/t gold equivalent,
made up of 118 g/t silver and 1.35 g/t gold over 21.0 metres and included 9.5 metres of 430 g/t silver
equivalent, or 5.73 g/t gold equivalent.
"We've increased the pace of drilling at the Los Ricos South Project and continue to hit wide intercepts of good
grade. We've released the results of our first short holes along the el Abra outcrop which confirm grade starts
at surface, including hole 102 which showed
10.7m
of 235 g/t silver equivalent," said
Brad Langille
, President
and CEO. "At the Los Ricos North Project, we are mobilizing and completing preparatory work for our
upcoming drilling campaign (as announced
February 20, 2020
per PP#07-2020)."
Hole LRGG-20-101 was also drilled on section 775N in the
San Juan
area of the project and intersected 33.8
metres from 120.8 to
154.5m
of 156 g/t silver equivalent or 2.08 g/t gold equivalent. Included in the intercept
was
5.0m
of 617 g/t silver equivalent.
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_20200310.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-20-101
San Juan
775N
120.8
154.5
33.8
0.54
115.9
2.08
156.0
including
146.5
151.5
5.0
2.00
466.9
8.22
616.6
LRGG-20-102
Main
300N
0.0
10.7
10.7
1.05
156.2
3.13
234.8
LRGG-20-103
Main
250N
0.0
17.0
17.0
0.28
93.1
1.53
114.4
LRGG-20-104
Main
225N
0.0
20.0
20.0
0.44
88.3
1.61
120.9
LRGG-20-105
Main
150N
2.2
24.6
22.4
0.39
75.8
1.40
105.3
including
15.4
21.8
6.4
0.81
134.8
2.60
195.3
LRGG-20-106
San Juan
775N
101.1
122.0
21.0
1.35
117.9
2.92
219.4
including
101.1
110.6
9.5
2.83
217.0
5.73
429.5
LRGG-20-107
Main
125N
6.0
34.0
28.0
0.20
40.6
0.75
55.9
LRGG-20-108
Main
75N
20.9
33.8
12.9
0.79
96.9
2.08
155.8
stope
33.8
38.0
4.2
LRGG-20-109
Main
350N
5.2
21.0
15.8
0.69
79.5
1.75
131.4
including
9.0
12.0
3.0
2.61
225.0
5.61
420.6
and
27.0
29.6
2.6
0.39
92.5
1.63
122.0
LRGG-20-110
Main
375N
0.0
22.0
22.0
0.38
102.0
1.74
130.3
including
0.0
6.0
6.0
0.62
191.6
3.17
238.0
LRGG-20-111
Main
625N
226.0
232.9
6.9
0.31
49.5
0.97
72.6
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-20-101
610271
2327937
1276
50
-75
190.5
LRGG-20-102
610663
2327678
1276
50
-20
60.0
LRGG-20-103
610716
2327624
1266
50
-20
42.0
LRGG-20-104
610736
2327608
1265
50
-20
51.0
LRGG-20-105
610792
2327558
1252
50
-20
54.0
LRGG-20-106
610271
2327937
1276
50
-60
150.0
LRGG-20-107
610815
2327544
1252
50
-20
60.0
LRGG-20-108
610845
2327505
1263
50
-20
38.8
LRGG-20-109
610643
2327694
1283
50
-20
51.0
LRGG-20-110
610623
2327709
1278
50
-20
27.0
LRGG-20-111
610216
2327695
1224
50
-65
351.0
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/March2020/10/c4417.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E:
CO: GoGold Resources Inc.
CNW 08:30e 10-MAR-20