GoGold Releases Additional Results from La Trini at Los Ricos North, including 5.6m of 1,070 g/t AgEq and 17.2m of 330 g/t AgEq
GoGold Releases Additional Results from La
Trini at Los Ricos North, including 5.6m of
1,070 g/t AgEq and 17.2m of 330 g/t AgEq
Shares Outstanding: 263,835,538
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX, NS
,
Sept. 30, 2020
/CNW/ -
GoGold Resources Inc.
(TSX: GGD) (OTCQX:
GLGDF)
("GoGold", "the Company")
is pleased to release additional assay results from the
Company's La Trini deposit on the Los Ricos North project, including
5.6m
of 1,070 g/t silver
equivalent ("AgEq") from hole LRGT-20-33.
A drill plan map of the La Trini drill holes showing basic geology and the outcrop of the mineralized
zone (CNW Group/GoGold Resources Inc.)
Hole LRGT-20-033 was drilled at the La Trini deposit and intersected a silicified and altered quartz
rhyolite unit from 13.9 to
35.7m
for
21.8m
of 335 g/t AgEq, consisting of 130 g/t silver and 2.73 g/t
gold. The intersect included
5.6m
of 1,070g/t AgEq, which was made up of 365 g/t silver and 9.40
g/t gold, which began at a depth of
18.4m
.
"Our exploration program at the La Trini target in Los Ricos North is continuing to provide strong
results and a better understanding of what controls high grade mineralization. Our drilling program in
Los Ricos North is rapidly expanding from La Trini towards Salomon-Favor with a total of 6 drill rigs
currently and a plan to increase to 8 to 10 rigs over the next 60 days," said
Brad Langille
, President
and CEO.
Hole LRGT-20-011 intersected
22.5m
of 261 g/t AgEq from
12.2m
to
34.7m
, consisting of 158 g/t
silver and 1.37 g/t gold, which included a higher grade core of
17.2m
of 330 g/t AgEq.
Hole LRGT-20-013 intersected mineralization from 36.3 to
80.8m
, for
44.5m
of 126 g/t AgEq which
was made up of 63 g/t silver and 0.84 g/t gold. The intersect included
12.0m
of 368 g/t AgEq, made
up of 163 g/t silver and 2.73 g/t gold.
Currently the Company has 6 drill rigs operating at Los Ricos North, with 3 operating at the La Trini
target, and 3 drilling at the Salomon-Favor target. Detailed intersections are listed in Table 1 and
the hole locations are shown in Table 2.
A drill plan map of the La Trini drill holes showing basic geology and the outcrop of the mineralized
zone is available at
https://gogoldresources.com/images/uploads/files/LRN20200930.pdf
Table 1: Drill Hole Intersections
Hold ID
Area
From
To
Length
1
Au
Ag
AuEq
2
AgEq
2
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
(g/t)
LRGT-20-010
La Trini
2.0
18.4
16.4
0.49
58.3
1.27
95.1
including
2.0
7.0
5.1
1.48
90.7
2.69
201.8
LRGT-20-011
La Trini
12.2
34.7
22.5
1.37
158.3
3.49
261.4
including
13.6
30.7
17.2
1.80
194.8
4.39
329.6
LRGT-20-012
La Trini
34.5
57.0
22.5
0.20
48.3
0.84
62.9
and
64.7
73.7
9.0
0.32
25.1
0.65
49.0
LRGT-20-013
La Trini
36.3
80.8
44.5
0.84
62.8
1.68
125.6
including
40.3
52.3
12.0
2.73
162.8
4.90
367.5
and
94.8
107.0
12.2
0.02
30.6
0.42
31.9
LRGT-20-014
La Trini
27.6
66.0
38.4
0.40
29.6
0.79
59.2
including
42.0
51.0
9.0
1.16
76.6
2.18
163.4
LRGT-20-015
La Trini
22.3
51.9
29.6
0.42
87.8
1.59
119.5
including
23.8
29.8
6.0
1.81
270.9
5.42
406.5
LRGT-20-016
La Trini
2.0
29.0
27.0
0.12
48.2
0.76
57.3
including
21.5
27.5
6.0
0.33
115.5
1.87
140.6
and
36.5
60.0
23.5
0.10
42.3
0.67
50.1
LRGT-20-024
La Trini
34.3
42.2
7.9
0.86
64.4
1.72
128.9
and
59.6
64.6
5.0
0.18
55.0
0.92
68.7
LRGT-20-025
La Trini
14.0
33.5
19.5
0.18
83.1
1.29
96.5
and
46.3
47.9
1.6
0.21
31.6
0.63
47.4
and
54.2
60.8
6.6
0.18
27.9
0.55
41.3
LRGT-20-026
La Trini
20.9
31.0
10.1
0.07
35.1
0.54
40.6
and
36.9
40.0
3.1
0.28
91.9
1.50
112.6
LRGT-20-027
La Trini
22.8
26.8
4.0
0.10
27.8
0.47
35.1
and
110.8
112.8
2.0
0.10
385.2
5.23
392.6
LRGT-20-032
La Trini
7.7
10.7
3.0
0.16
17.3
0.39
29.3
and
28.1
29.6
1.5
0.02
32.5
0.46
34.3
and
47.7
52.4
4.7
0.11
21.2
0.39
29.5
and
58.7
65.2
6.5
0.23
24.1
0.56
41.6
LRGT-20-033
La Trini
13.9
35.7
21.8
2.73
130.3
4.47
335.2
including
18.4
24.0
5.6
9.40
365.4
14.27
1,070.3
1.
Not true width
2.
AuEq and AqEq converted using a silver to gold ratio of 75:1
3.
Holes LRGT-20-028 to LRGT-20-031 assays are outstanding and will be released at a later date
4.
Holes LRGT-20-017 to LRGT-20-023 are excluded from above, as they were drilled to test a lower grade area to the east of the main Trini zone. Mineralization was not
significant, averaging 9.8m of 29.10 g/t AgEq at approximate depth of 40m. Results are available in the drilling summary at gogoldresources.com.
Table 2: Drill Hole Locations
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Length
LRGT-20-010
582925
2339573
917
180
-65
81.0
LRGT-20-011
583000
2339574
896
180
-65
57.4
LRGT-20-012
583125
2339559
935
180
-65
91.5
LRGT-20-013
583100
2339626
927
180
-65
112.7
LRGT-20-014
583115
2339596
918
180
-70
100.8
LRGT-20-015
583075
2339536
906
180
-65
66.0
LRGT-20-016
583100
2339550
917
180
-65
101.0
LRGT-20-024
582875
2339686
924
180
-65
111.0
LRGT-20-025
582925
2339627
912
180
-65
73.8
LRGT-20-026
582900
2339653
920
180
-65
84.0
LRGT-20-027
582850
2339706
897
210
-65
151.8
LRGT-20-028
582828
2339718
890
210
-65
152.0
LRGT-20-029
582850
2339706
897
180
-65
94.8
LRGT-20-030
582806
2339731
878
210
-65
153.0
LRGT-20-031
582925
2339686
928
180
-65
136.7
LRGT-20-032
583200
2339560
944
180
-65
118.7
LRGT-20-033
582975
2339598
911
180
-65
62.0
Los Ricos District Exploration Projects
The Company's two exploration projects at its Los Ricos property are in
Jalisco
state, Mexico. The
Los Ricos 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,
as well as the
Cerro Colorado
, Las Lamas and East Vein targets. An initial resource on the Los
Ricos South project was announced on
July 29, 2020
and indicated a Measured & Indicated Mineral
Resource of 63.7 million ounces AgEq grading 199 g/t AgEq contained in 10.0 million tonnes, and an
Inferred Resource of 19.9 million ounces AgEq grading 190 g/t AgEq contained in 3.3 million tonnes.
The Los Ricos North Project was launched in
March 2020
and includes drilling at the Salomon-Favor,
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 mine in the
state of Chihuahua
and has the Los Ricos South and Los
Ricos North exploration projects 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 South and
North projects, future operating margins, future production and processing, and future plans and
objectives of GoGold, including the timing for completing an initial resources estimate at Los Ricos
North, 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 to download multimedia:
http://www.newswire.ca/en/releases/archive/September2020/30/c6263.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855
0435, E: [email protected]
CO: GoGold Resources Inc.
CNW 06:30e 30-SEP-20