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GoGold Drills 1,975 g/t AgEq over 0.6m and 19.9m of 119 g/t AgEq at Los Ricos North

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GoGold Drills 1,975 g/t AgEq over 0.6m and 19.9m of 119 g/t AgEq at Los Ricos North

 

 

 

 

 

GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) is pleased to release the results of 11 drill holes at Mololoa and the initial 19 drill holes at El Nayar within Los Ricos North. Hole LRGM-21-030 intersected 0.6m of 1,975 g/t silver equivalent, and Hole LRGM-21-038 intersected 0.8m of 1,170 g/t AgEq within 19.9m of 119 g/t AgEq. At El Nayar, Hole LRGNY-21-002 intersected 1,976 g/t AgEq over 0.7m and Hole LRGNY-21-004 intersected 16.6m of 154 g/t AgEq. See Table 1 for breakdown of silver and gold values.

 

El Nayar is located approximately 6 kilometres north-west of the La Trini deposit within Los Ricos North. It consists of multiple subvertical veins and stockwork mineralization, and limited historical underground mining.  The Company has been drilling the target with two drill rigs for the last several months.

 

“Over the next few days, we will reach the data cut-off for our initial Los Ricos North mineral resource estimate. This data cut-off represents a point in time and the 9 drill rigs are currently and will continue to drill at Los Ricos. This upcoming resource represents the completion of the first 100,000 metres of drilling at Los Ricos North, and the Company is progressing on the next 100,000 metres which is budgeted for the Los Ricos district through 2022,” said Brad Langille, President and CEO. “Today’s release introduces the El Nayar zone, with our first drill holes completed. Also, we report continued successful drilling at the previously mentioned Mololoa target.”

 

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-21-030 Mololoa – Tamara 70.8 79.3 8.5 0.12 49.6 0.78 58.8
including 76.2 77.0 0.8 0.80 289.0 4.65 349.0
and 93.5 117.0 23.5 0.25 78.3 1.29 96.8
including 94.1 94.8 0.7 1.66 534.0 8.78 658.5
and 110.9 112.2 1.4 1.87 796.7 12.50 937.2
including 110.9 111.5 0.6 4.00 1,675.0 26.33 1,975.0
LRGM-21-031 Mololoa – Soledad 12.5 14.8 2.3 0.19 46.8 0.81 60.7
including 13.9 14.8 0.9 0.36 94.9 1.63 122.0
LRGM-21-033 Mololoa – Soledad 12.5 14.6 2.1 0.09 35.8 0.57 42.6
including 13.7 14.6 0.9 0.20 55.7 0.94 70.3
LRGM-21-034 Mololoa – Tamara 118.6 119.4 0.8 0.69 80.4 1.76 132.3
LRGM-21-035 Mololoa 51.1 56.0 5.0 0.23 74.9 1.22 91.8
including 51.9 52.7 0.9 1.03 249.0 4.35 326.2
LRGM-21-038 Mololoa – Tamara 81.1 81.9 0.8 1.04 295.0 4.97 373.0
and 101.0 120.9 19.9 0.39 90.0 1.59 119.4
including 114.3 119.9 5.7 1.05 253.1 4.42 331.7
including 114.3 115.1 0.8 2.35 994.0 15.60 1,170.3
LRGM-21-042 Mololoa – Tamara 108.0 112.6 4.6 0.12 108.1 1.56 116.7
including 111.1 112.6 1.5 0.28 289.0 4.13 310.0
including 111.1 111.6 0.5 0.79 669.0 9.71 728.3
LRGM-21-043 Mololoa – Tamara 96.7 97.5 0.8 0.48 94.0 1.73 130.0
LRGM-21-044 Mololoa – Soledad 28.7 35.5 6.8 0.12 51.4 0.80 60.2
Including 32.2 33.6 1.4 0.40 183.0 2.84 213.0
LRGM-21-045 Mololoa – Soledad 10.4 20.1 9.7 0.35 96.9 1.64 123.2
including 15.4 19.1 3.7 0.84 232.7 3.94 295.9
LRGM-21-051 Mololoa – Soledad 35.3 41.5 6.2 0.58 99.5 1.91 143.2
including 35.3 36.3 1.0 2.53 420.0 8.13 609.8
LRGNY-21-001 El Nayar – Rubi 63.2 66.4 3.2 0.33 92.0 1.55 116.4
El Nayar – New 182.8 185.0 2.2 1.52 360.3 6.32 474.2
including 183.8 184.4 0.5 5.99 1,135.7 21.13 1,585.0
El Nayar – Castellana 222.6 233.0 8.0 0.21 70.5 1.14 85.9
and 223.2 226.7 2.7 0.41 127.4 2.11 158.2
LRGNY-21-002 El Nayar – Rubi 64.9 71.9 7.1 0.33 125.6 2.01 150.5
including 66.8 68.1 1.3 1.14 358.6 5.92 444.4
El Nayar – Castellana 221.8 231.0 3.9 1.73 288.4 5.58 418.1
including 228.8 229.5 0.7 8.44 1,343.2 26.34 1,975.9
El Nayar – New 319.8 320.5 0.7 0.35 136.1 2.17 162.6
LRGNY-21-003 El Nayar – Castellana 180.4 181.8 1.4 0.21 109.6 1.67 125.5
and 197.1 199.2 2.1 0.51 59.8 1.31 98.3
LRGNY-21-004 El Nayar – Rubi 64.3 80.8 16.6 0.50 116.5 2.05 154.0
including 67.6 72.3 4.7 1.51 259.8 4.97 372.7
LRGNY-21-005 El Nayar – Castellana 161.2 163.8 2.6 0.16 68.2 1.068 80.1
LRGNY-21-006 El Nayar – Rubi 89.5 91.3 1.8 0.37 97.5 1.67 124.9
LRGNY-21-007 El Nayar – Rubi 69.1 74.7 5.6 0.27 81.2 1.35 101.5
including 73.1 73.7 0.6 0.83 486.0 7.31 547.9
and 98.7 101.5 2.8 0.19 67.6 1.09 81.9
LRGNY-21-008 El Nayar – Rubi 96.1 97.6 1.6 0.41 85.5 1.55 116.5
and 143.6 149.1 5.5 0.01 157.4 2.11 158.3
including 145.1 146.6 1.5 0.01 413.0 5.51 413.6
El Nayar – Castellana 234.9 236.2 1.3 0.79 180.0 3.19 239.4
LRGNY-21-010 El Nayar – Castellana 140.1 141.3 1.2 0.21 95.4 1.48 110.8
LRGNY-21-012 El Nayar – Rubi 77.3 79.3 2.0 0.22 94.9 1.49 111.6
and 105.3 106.8 1.5 0.36 335.3 4.83 362.4
LRGNY-21-013 El Nayar – Castellana 98.7 100.7 2.0 0.13 53.8 0.85 63.4
LRGNY-21-014 El Nayar – Castellana 97.2 99.4 2.1 0.23 65.0 1.09 81.9
LRGNY-21-016 El Nayar – Rubi 12.1 13.9 1.8 0.46 186.0 2.94 220.5
and 90.0 92.0 2.0 0.20 144.5 2.12 159.1
and 98.6 103.9 5.4 0.26 102.0 1.62 121.8
including 98.6 100.0 1.5 0.41 173.6 2.72 204.3
and 111.7 115.5 3.8 0.87 161.5 3.03 226.9
including 112.7 113.4 0.8 4.02 648.0 12.66 949.5
LRGNY-21-017 El Nayar – Castellana 71.7 90.1 14.1 0.12 92.5 1.36 101.9
including 77.8 81.1 3.3 0.12 197.6 2.76 206.9
LRGNY-21-018 El Nayar – Castellana 242.3 243.8 1.5 0.14 121.0 1.75 131.5
LRGNY-21-019 El Nayar – Rubi 209.1 211.5 2.4 0.10 93.7 1.35 101.4
El Nayar – Castellana 228.9 232.0 3.1 3.20 67.6 4.10 307.6
1. Not true width
2. AqEq converted using a silver to gold ratio of 75:1 at recoveries of 100%
3. Holes LRGM-21-032, LRGM-21-037, LRGM-21-039, LRGNY-21-009, LRGNY-21-011 and LRGNY-21-015 are excluded as they did not intercept significant mineralization.
4. Holes LRGM-21-040, LRGM-21-041 and LRGM-21-046 to 050 are pending assays.

 

 

Figure 1: Mololoa Plan View

 

 

Figure 2: El Nayar Plan View

 

 

Figure 3: Los Ricos Overview

 

 

Table 2: Drill Hole Locations  

 

Hole ID Easting Northing Elevation Azimuth Dip Length
LRGM-21-030 584742 2338376 946 240 -55 164
LRGM-21-031 584742 2337858 1018 240 -50 114
LRGM-21-032 584787 2337652 1030 240 -50 73
LRGM-21-033 584804 2337638 1019 240 -50 71
LRGM-21-034 584742 2338376 946 240 -75 165
LRGM-21-035 584926 2338022 1040 240 -50 191
LRGM-21-036 584486 2338435 1025 180 -45 266
LRGM-21-037 584953 2338004 1056 240 -50 199
LRGM-21-038 584765 2338359 948 240 -55 175
LRGM-21-039 584837 2337703 1034 240 -50 104
LRGM-21-040 584814 2337727 1032 240 -57 101
LRGM-21-041 584840 2337683 1020 240 -50 92
LRGM-21-042 584765 2338358 948 240 -75 178
LRGM-21-043 584383 2338344 970 180 -60 183
LRGM-21-044 584801 2337751 1027 240 -50 107
LRGM-21-045 584733 2337827 1029 240 -60 84
LRGM-21-051 584825 2337791 1016 240 -57 82
LRGNY-21-001 578485 2344202 753 200 -57 323
LRGNY-21-002 578484 2344199 752 200 -45 346
LRGNY-21-003 578514 2344158 724 200 -70 326
LRGNY-21-004 578485 2344201 753 200 -80 314
LRGNY-21-005 578514 2344158 724 200 -55 317
LRGNY-21-006 578514 2344158 723 0 -90 313
LRGNY-21-007 578440 2344227 750 200 -57 300
LRGNY-21-008 578441 2344223 757 200 -45 297
LRGNY-21-009 578563 2344136 695 200 -60 207
LRGNY-21-010 578563 2344132 693 196 -45 201
LRGNY-21-011 578563 2344137 696 200 -82 207
LRGNY-21-012 578441 2344233 750 200 -70 287
LRGNY-21-013 578589 2344085 660 200 -60 134
LRGNY-21-014 578588 2344090 664 200 -45 156
LRGNY-21-015 578589 2344085 660 0 -90 174
LRGNY-21-016 578394 2344244 767 200 -58 287
LRGNY-21-017 578505 2344051 665 200 -55 214
LRGNY-21-018 578331 2344211 807 206 -45 267
LRGNY-21-019 578307 2344246 825 200 -45 299

 

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 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 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.

 

 

 

Posted November 10, 2021

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