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GoGold Drills 27.5m averaging 2.99 g/t Gold Equivalent at Los Ricos and 11.6m averaging 2.71g/t Gold Equivalent 1,500m Southeast of the Main Zone

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GoGold Resources Inc. (TSX: GGD) is pleased to release the assay results from three new diamond drill holes at the Los Ricos Main area and 7 core holes drilled on the Cerro Colorado target located 1500m to the southeast of the Main area.  

 

Drill hole LRGG-19-028 intersected the Los Ricos vein from 34.5m to 62.0m and averaged 2.99 g/t gold equivalent made up of 1.21 g/t gold and 133.5 g/t silver over 27.5m; including an 11.0m interval averaging 6.85g/t gold equivalent made up of 2.93 g/t gold and 293.9 g/t silver. 

 

“Our drilling program continues to show wide intervals of gold-silver mineralization in the Los Ricos vein near surface in the short holes. We are very encouraged that our first step out drilling 1.5km along strike to the southeast has confirmed that the near surface mineralization at Cerro Colorado continues. We are also in the process of step out drilling to the northwest of the main zone expanding on the potential of our 3.2km mineralized zone.” stated Brad Langille, President and CEO.

 

The Cerro Colorado is located approximately 1500m to the southeast along strike from the historical underground mine at Los Ricos.  The mineralization outcrops at surface (see Press Release dated May 30, 2019) and geological mapping shows the continuity of the Los Ricos vein system between Cerro Colorado and the historical mining area.  To date, 7 holes totalling 477m of HQ size drill core were completed on 3 drill pads testing an initial 500m strike length along the Cerro Colorado target. 

 

Two holes, LRGC-19-001 and 004 were drilled on the first drill pad located approximately 1400 metres to the south of the Los Ricos mine.  Hole LRGC-19-001 intersected from 23.3 to 27.2m, 3.9m averaging 3.95g/t gold equivalent made up of 1.59 g/t gold and 177.3 g/t silver.  The hole intersected a fault zone between 9.0m and 23.3m and then immediately entered the Cerro Colorado vein consisting of white-grey quartz carrying pyrite, chalcopyrite, galena and black silver sulphides. 

 

Hole LRGC-19-004 was collared up-dip and intersected from 6.5 to 18.0m,  11.5m averaging 2.71g/t gold equivalent made up of 1.28 g/t gold and 107.2 g/t silver, including 3.7m averaging 7.29 g/t gold equivalent made up of 3.36 g/t gold and 294.6 g/t silver. 

 

Holes LRGC-19-002, 003 and 006 were drilled on drill pad 2 located approximately 300 metres southeast of Fence 1 along the strike of the Cerro Colorado vein.  Drill hole LRGC-19-002 cut 3.5m averaging 4.47 g/t gold equivalent made up of 3.27 g/t gold and 90.4 g/t silver from 0.0 to 3.5m.  Drill hole LRGC-19-003 intersected the Cerro Colorado vein from 2.0m to 8.5m averaging 1.90 g/t gold equivalent made up of 1.38 g/t gold and 39.0 g/t silver over 6.5m.

 

Holes LRGC-19-005 and 007 were collared on drill pad 3 located approximately 200m to the northwest of holes LRGC-19-001 and 004 and intersected broad zones of low grade gold and silver mineralization.

 

“Our first exploration holes are showing the mineralization along the Cerro Colorado quartz vein system has good grades over a strike length of at least 500m.  The next phase of our work will be to continue testing the target to locate a high-grade ore shoot in the zone similar to the ones mined at Los Ricos,” stated Brad Langille, President and CEO.

 

Detailed intersections are in Table 1, and drill holes locations are included in Table 2. Figure 1 provides a 3D view of the Los Ricos property surrounding the historical underground workings at the El Abra zone, with the location of the other zones shown.

 

Table 1:  Drill Hole Intersections

 

 

Hole ID Area From To Length1 Au Ag AuEq2
    (m) (m) (m) (g/t) (g/t) (g/t)
LRGG-19-027 Main 38.3 51.0 12.7 1.08 169.8 3.34
  including 38.3 45.0 6.7 1.83 268.1 5.40
  and 60.0 65.0 5.1 0.28 23.4 0.59
LRGG-19-028 Main 34.5 62.0 27.5 1.21 133.5 2.99
  including 35.1 46.0 11.0 2.93 293.9 6.85
LRGG-19-029 Main 28.5 31.5 3.0 0.99 157.1 3.09
  Open Stope3 31.5 34.1 2.6 * * *
  Main 34.1 34.7 0.6 1.64 300.3 5.64
  Open Stope3 34.7 39.0 4.3 * * *
  Main 39.0 41.0 2.0 0.12 19.4 0.38
LRGC-19-001 Cerro Colorado 23.3 27.2 3.9 1.59 177.3 3.95
LRGC-19-002 Cerro Colorado 0.0 3.5 3.5 3.27 90.4 4.47
LRGC-19-003 Cerro Colorado 2.0 8.5 6.5 1.38 39.0 1.90
LRGC-19-004 Cerro Colorado 6.5 18.0 11.5 1.28 107.2 2.71
  Including 7.3 11.0 3.7 3.36 294.6 7.29
LRGC-19-005 Cerro Colorado 30.0 37.0 7.0 0.18 11.5 0.33
  and 43.5 56.5 13.0 0.12 16.4 0.34
LRGC-19-006 Cerro Colorado 0.0 11.5 11.5 0.56 10.3 0.70
LRGC-19-007 Cerro Colorado 53.8 56.0 2.2 0.28 27.3 0.64
  and 68.5 77.0 8.5 0.06 15.7 0.27
           
1. Not true width        
2. AuEq converted using a silver to gold ratio of 75:1        
3. Historical underground working, no sample        

 

 

Table 2: Drill Hole Locations

 

 

Hole ID Easting Northing Elev Azimuth Dip Length
LRGG-19-027 610748 2327553 1432 50 -45 90.0
LRGG-19-028 610729 2327570 1436 50 -45 90.0
LRGG-19-029 610715 2327591 1439 50 -45 70.5
LRGC-19-001 611799 2326380 1298 53 -50 75.0
LRGC-19-002 612055 2326190 1240 29 -45 30.0
LRGC-19-003 612051 2326191 1240 39 -50 42.0
LRGC-19-004 611828 2326394 1299 48 -45 61.5
LRGC-19-005 611684 2326494 1259 30 -45 79.5
LRGC-19-006 612032 2326174 1235 50 -50 91.5
LRGC-19-007 611665 2326480 1261 50 -50 97.5

 

 

GoGold commenced a 10,000 m diamond drilling program of HQ size core in conjunction with a field program of geological mapping, sampling and trenching on the property in March 2019.  The core drilling campaign is focused on defining the mineralized halo around the historical high grade ore shoots as defined by the underground workings and the 65 historical RC drill holes on the property. The program has now been expanded for additional testing along 3.2 km of the Los Ricos mineralized zone.

 

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 / Quality Control and Data Verification

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 project in the state of Chihuahua and has the Los Ricos exploration project in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects.

 


Figure 1: Los Ricos Zones 3D View (CNW Group/GoGold Resources Inc.)

 

Posted August 29, 2019

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