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GoGold Drills 1,956 g/t AgEq over 1.0m within 6.1m of 526 g/t AgEq at Newly Drilled Mololoa in Los Ricos North

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GoGold Drills 1,956 g/t AgEq over 1.0m within 6.1m of 526 g/t AgEq at Newly Drilled Mololoa in Los Ricos North

 

 

 

 

 

GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) is pleased to release the initial drill holes at Mololoa within Los Ricos North, which is located approximately one kilometre north of the El Favor deposit and may be an easterly extension of the Casados deposit.  Hole LRGM-21-006 intersected 1.0m of 1,956 g/t silver equivalent (“AgEq”), within 6.1m of 526 g/t AgEq. See Table 1 for breakdown of silver and gold values.

 

“These are the first holes drilled at Mololoa which show a vein structure with high grades of silver and gold that we believe will add additional ounces and grade to the upcoming initial resource at Los Ricos North,” said Brad Langille, President and CEO.  “We encountered numerous old workings while drilling Mololoa and will attempt to drill below the level of the old workings, so we are able to see the full extent of the intact mineralized zone.”

 

Table 1:  Drill Hole Intersections

 

Hole ID Area/Vein From To Length1 Au Ag AuEq2 AgEq2
(m) (m) (m) (g/t) (g/t) (g/t) (g/t)
LRGM-21-001 Soledad Vein 8.6 18.5 9.9 0.21 67.1 1.10 82.6
including 15.0 17.2 2.2 0.46 163.5 2.64 197.7
LRGM-21-002 Mined Void 14.1 18.5 4.4 * * * *
Soledad Vein 18.5 21.4 2.9 0.18 100.0 1.51 113.3
LRGM-21-003 Soledad Vein 34.5 42.3 7.8 0.38 162.2 2.54 190.5
including 35.4 37.7 2.3 1.08 456.2 7.16 537.4
LRGM-21-004 Mined Void 45.0 48.6 3.6 * * * *
Soledad Vein 48.6 61.6 13.0 0.06 86.3 1.21 90.6
including 52.3 55.4 3.1 0.13 182.6 2.56 192.1
LRGM-21-005 Soledad Vein 46.5 61.3 14.8 0.02 49.0 0.67 50.6
including 57.0 61.3 4.3 0.05 89.3 1.24 92.9
LRGM-21-006 Mined Void 104.0 109.7 5.7 * * * *
Soledad Vein 109.7 115.8 6.1 0.95 454.7 7.01 525.7
including 110.8 112.8 2.0 2.58 1,177.5 18.28 1,371.2
including 111.8 112.8 1.0 3.95 1,660.0 26.08 1,956.3
LRGM-21-007 Soledad Vein 9.9 17.5 7.6 0.34 83.1 1.45 108.7
including 14.0 16.0 2.0 0.66 137.0 2.49 186.5
LRGM-21-008 Soledad Vein 18.1 29.1 11.0 0.83 276.3 4.51 338.5
including 23.9 26.1 2.2 2.11 774.5 12.43 932.4
including 23.9 24.5 0.6 3.63 1,180.0 19.36 1,452.3
LRGM-21-009 Mined Void 6.3 9.0 2.7 *  * *  *
Soledad Vein 13.1 25.1 12.0 0.16 58.1 0.93 69.8
including 20.3 24.1 3.8 0.32 78.9 1.37 102.9
LRGM-21-010 Soledad Vein 22.0 33.5 11.5 0.09 26.3 0.44 33.4
including 23.0 25.0 2.0 0.47 67.5 1.37 102.5
and 81.9 83.0 1.1 0.37 128.0 2.08 156.0
LRGM-21-011 Tamara Vein 26.0 31.4 5.4 1.02 196.0 3.63 272.2
including 28.5 30.4 2.0 1.68 317.4 5.91 443.3
including 28.5 29.0 0.6 3.46 418.0 9.03 677.5
LRGM-21-012 Soledad Vein 114.2 121.8 7.6 0.14 80.0 1.21 90.5
including 118.7 120.3 1.6 0.32 197.3 2.95 221.5
LRGM-21-013 Tamara Vein 26.4 31.8 5.5 1.64 298.9 5.62 421.8
including 28.5 31.2 2.7 2.96 532.2 10.06 754.4
including 28.5 29.5 0.9 4.50 607.0 12.59 944.5
and 41.6 42.8 1.2 0.54 143.0 2.44 183.2
LRGM-21-014 Soledad Vein 28.4 41.0 12.7 0.42 178.0 2.79 209.5
including 33.7 36.3 2.6 1.56 595.0 9.49 711.7
including 33.7 34.6 0.9 1.67 922.0 13.96 1,046.9
LRGM-21-015 Tamara Vein 46.1 46.7 0.7 0.10 39.4 0.62 46.5
LRGM-21-016 Soledad Vein 42.9 47.7 4.9 0.29 69.8 1.22 91.5
including 43.6 46.7 3.2 0.39 93.6 1.64 123.0
LRGM-21-017 Soledad Vein 116.0 120.0 4.0 0.79 263.8 4.30 322.9
including 116.0 118.3 2.3 1.33 437.4 7.16 537.1
including 116.9 117.6 0.7 3.67 1,080.0 18.07 1,355.3
LRGM-21-018 Tamara Vein 30.2 32.0 1.8 0.44 45.5 1.04 78.2
and 98.0 99.0 1.0 0.39 117.0 1.95 145.9
and 107.0 107.9 0.8 0.80 152.0 2.83 212.1
and 143.0 144.5 1.5 0.01 218.0 2.92 218.8
LRGM-21-021 Mined Void 43.2 44.5 1.3 * * * *
Soledad Vein 89.0 89.5 0.5 0.07 92.0 1.30 97.3
LRGM-21-022 Soledad Vein 53.0 58.5 5.5 0.34 145.4 2.28 170.7
including 54.3 56.5 2.3 0.74 280.2 4.48 336.0
LRGM-21-023 Soledad Vein 7.7 9.0 1.3 0.34 40.6 0.88 66.0
LRGM-21-024 Tamara Vein 116.9 120.9 4.0 0.29 63.4 1.14 85.1
including 116.9 118.5 1.6 0.55 128.4 2.26 169.4
LRGM-21-025 Soledad Vein 16.9 23.5 6.7 0.22 66.4 1.10 82.8
including 19.9 21.9 2.0 0.54 132.0 2.30 172.1
including 19.9 20.9 1.0 0.60 165.0 2.80 210.0
LRGM-21-026 Soledad Vein 10.7 16.3 5.6 0.25 54.4 0.98 73.3
including 13.5 16.3 2.9 0.38 77.7 1.41 105.8
LRGM-21-027 Soledad Vein 87.5 120.5 33.0 0.02 30.2 0.43 32.0
including 94.6 97.4 2.8 0.03 71.3 0.98 73.2
1. Not true width
2. AqEq converted using a silver to gold ratio of 75:1 at recoveries of 100%
3. Hole LRGM-21-019 and LRGM-21-020 are excluded as they did not intercept significant mineralization

 

Figure 1: Mololoa Plan View

 

Figure 2: Cross Section LRGM-21-006 & LRGM-21-014

 

Figure 3: Plan View – La Trini to El Favor Area of Los Ricos North

 

 

Table 2: Drill Hole Locations  

Hole ID Easting Northing Elevation Azimuth Dip Length
LRGM-21-001 584713 2337783 1040 245 -60 154.4
LRGM-21-002 584726 2337761 1034 240 -60 109.5
LRGM-21-003 584966 2337646 1013 210 -60 160.5
LRGM-21-004 585168 2337668 964 210 -50 160.0
LRGM-21-005 585169 2337668 964 180 -50 172.5
LRGM-21-006 584926 2337808 1038 240 -50 200.0
LRGM-21-007 584731 2337737 1032 240 -60 118.0
LRGM-21-008 584707 2337814 1043 240 -60 107.1
LRGM-21-009 584887 2338029 1019 240 -50 194.0
LRGM-21-010 584897 2338089 993 240 -50 221.0
LRGM-21-011 584891 2338277 901 240 -50 54.2
LRGM-21-012 584935 2337788 1047 240 -55 209.2
LRGM-21-013 584890 2338276 901 240 -55 228.5
LRGM-21-014 584761 2337727 1039 240 -50 83.0
LRGM-21-015 584803 2338305 913 240 -50 173.2
LRGM-21-016 584773 2337706 1046 240 -50 113.0
LRGM-21-017 584947 2337776 1050 240 -55 164.0
LRGM-21-018 584773 2338342 942 240 -50 151.7
LRGM-21-019 584770 2337774 1026 240 -60 101.0
LRGM-21-020 584695 2337832 1045 240 -50 89.0
LRGM-21-021 584772 2338342 941 240 -80 163.5
LRGM-21-022 584782 2337683 1043 240 -50 101.0
LRGM-21-023 584676 2337853 1036 240 -50 98.0
LRGM-21-024 584810 2338338 936 240 -50 184.9
LRGM-21-025 584713 2337843 1035 240 -50 110.0
LRGM-21-026 584746 2337778 1031 240 -60 86.0
LRGM-21-027 584913 2337842 1016 240 -55 152.0

VRIFY Slide Deck and 3D Presentation

VRIFY is a platform being used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS and Android apps.

Access the GoGold Company Profile on VRIFY at: https://vrify.com

The VRIFY Slide Deck and 3D Presentation for GoGold can be viewed at: https://vrify.com/decks/10437 and on the Company’s website at: www.gogoldresources.com.

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 an initial resource was announced on July 29, 2020 which 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.  An initial PEA on the project was announced on January 20, 2021 indicating an NPV5% of US$295M.

The Los Ricos North Project was launched in March 2020 and includes drilling at the El Favor, La Trini, Mololoa, Casados and El Orito targets.  During 2020, GoGold’s exploration team identified over 100 targets on the Los Ricos North properties, demonstrating the significant exploration potential.  The Company plans to drill 10 of these targets as part of its 2021 drilling program which is planned to exceed 100,000 metres of drilling and will be one of the largest in Mexico.

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 ALS Chemex  facility in Zacatecas, Mexico. ALS Chemex  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 30-gram charge by fire assay (Code AA23) and over limits greater than 10 grams per tonne are re-assayed using a gravimetric finish (Code ME-GRAV21). Silver and multi-element analysis is completed using total digestion (Code ME-ICP61  Total Digestion ICP). Over limits greater than 100 grams per tonne silver are re-assayed using a gravimetric finish (ME-GRA21).

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.

 


Figure 1: Mololoa Plan View (CNW Group/GoGold Resources Inc.)


Figure 2: Cross Section LRGM-21-006 & LRGM-21-014 (CNW Group/GoGold Resources Inc.)


Figure 3: Plan View – La Trini to El Favor Area of Los Ricos North (CNW Group/GoGold Resources Inc.)

 

 

Posted September 29, 2021

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