GoGold Provides COVID-19 Update
GoGold Provides COVID-19 Update
Shares Outstanding: 222,106,496
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX
,
April 2, 2020
/CNW/ -
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF)
("GoGold", "the Company")
announces that the Mexican federal government has mandated all
non-essential businesses temporarily suspend activities until
April 30, 2020
due to COVID-19. As
Parral is a heap leach operation, essential processes including operation of pumps to maintain
solution balance will continue, while non-essential services will be temporarily suspended in line with
the government mandate. At the current time, management expects minimal impact on production for
the quarter ending
June 30
.
At the Los Ricos project, drilling will be suspended for 30 days to ensure the safety of the
Company's employees and contractors in compliance with the government's mandate. This will have
a limited impact on the Company's exploration project, as there are 40 completed drill holes which
are in the assaying process, and GoGold is nearing data cut-off for the initial resource at the Los
Ricos South Project. GoGold's administrative and technical teams will continue to work remotely
from home, as they progress on internal resource modelling and work towards an external third-
party resource.
"While we have not experienced a known or suspected case of COVID-19 in the Company, safety
and the health of our employees, contractors, and communities where we are operating is our top
priority in this unprecedented time. Parral's operation, being a heap leach, makes it essential to
continue the circulation of leaching solution which will continue to produce silver and gold during this
period. All essential employees for this operation will follow safety protocols and precautionary
measures, while exploration activity at Los Ricos will be temporarily suspended allowing our team to
focus remotely on a resource model," said
Brad Langille
, President and CEO.
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/April2020/02/c5691.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855
0435, E: [email protected]
CO: GoGold Resources Inc.
CNW 08:30e 02-APR-20