GoGold Reports Parral Production for Quarter Ending March 2023
GoGold Reports Parral Production for Quarter Ending
March 2023
Shares Outstanding: 325,952,277
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX, NS
,
April 6, 2023
/CNW/ -
GoGold Resources Inc.
(TSX: GGD) (OTCQX: GLGDF)
("GoGold", "the
Company")
is pleased to report production for the quarter ending
March 31, 2023
of 400,145 silver equivalent ounces,
consisting of 173,717 silver ounces, 2,016 gold ounces, and 143 tonnes of copper.
"We continue to focus on completion of the preliminary economic assessment in Los Ricos North, followed by a revised
resource and updated preliminary economic assessment for Los Ricos South in June," said
Brad Langille
, President and
CEO. "At Parral, our operations team has delivered a safe and environmentally friendly operation, which with the current
prices should yield a positive financial result."
Table 1: Quarterly Production Summary
Quarter Ended
Dec 2021
Mar 2022
Jun 2022
Sep 2022
Dec 2022
Mar 2023
Silver Production (oz)
195,678
186,655
213,495
145,944
159,838
173,717
Gold Production (oz)
2,558
2,791
3,081
2,278
2,399
2,016
Copper Production (tonnes)
123
125
98
124
222
143
Silver Equivalent Production (oz)
1
444,071
455,991
509,796
400,467
441,217
400,145
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: Dec 2021 – 77, Mar 2022 – 77, June 2022 – 83, Sep 2022 – 90, Dec 2022 – 82, Mar 2023 – 84. The copper:silver ratios were: Dec 2021 – 417, Mar 2022 – 411, June 2022 – 415, Sep 2022 – 398,
Dec 2022 – 377, Mar 2023 – 399.
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.
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%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E:
CO: GoGold Resources Inc.
CNW 08:30e 06-APR-23