GoGold Reports 10% Increase in Production at Parral
GoGold Reports 10% Increase in Production at
Parral
Shares Outstanding: 296,097,011
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX, NS
,
Jan. 11, 2023
/CNW/ -
GoGold Resources Inc.
(TSX: GGD) (OTCQX: GLGDF)
("GoGold",
"the Company")
is pleased to report production for the quarter ending
December 31, 2022
of 441,217 silver
equivalent ounces, consisting of 159,838 silver ounces, 2,399 gold ounces, and 222 tonnes of copper. This
represents an increase of 10% in silver equivalent production from the quarter ended
September 30, 2022
.
"In 2023, we are entering our ninth year of production at Parral. Our operations team have proven their ability in
delivering a consistent, safe, environmentally friendly operation. This expertise will be invaluable as we advance
development at Los Ricos towards the ultimate goal of production," said
Brad Langille
, President and CEO.
"2023 will truly be a transformative year for GoGold."
Table 1: Quarterly Production Summary
Quarter Ended
Sep 2021
Dec 2021
Mar 2022
Jun 2022
Sep 2022
Dec 2022
Silver Production (oz)
221,202
195,678
186,655
213,495
145,944
159,838
Gold Production (oz)
3,437
2,558
2,791
3,081
2,278
2,399
Copper Production (tonnes)
138
123
125
98
124
222
Silver Equivalent Production (oz)
1
526,044
444,071
455,991
509,796
400,467
441,217
1. "Silver equivalent production" include gold ounces and copper tons produced and converted to a silver equivalent based on a ratio of the average market metal price for each period. The gold:silver
ratio for each of the periods presented was: Sep 2021 – 73, Dec 2021 – 77, Mar 2022 – 77, June 2022 – 83, Sep 2022 – 90, Dec 2022 – 82. The copper:silver ratios were: Sep 2021 – 383, Dec 2021
– 417, Mar 2022 – 411, June 2022 – 415, Sep 2022 – 398, Dec 2022 – 377.
Mr.
Robert Harris
, P.Eng. 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 production and cash flows of the Parral tailings mine, the ability of GoGold to
self fund its ongoing exploration and administrative costs, 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.
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SOURCE
GoGold Resources Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/January2023/11/c6742.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E:
CO: GoGold Resources Inc.
CNW 07:30e 11-JAN-23