GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) is pleased to release additional assay results from the Company’s La Trini deposit on the Los Ricos North project, including 31.0m of 207 g/t silver equivalent from hole LRGT-20-37.
Hole LRGT-20-037 was drilled at the La Trini deposit and intersected a silicified and altered quartz rhyolite unit from 34.8 to 65.8m for 31.0m of 207 g/t AgEq, consisting of 95 g/t silver and 1.50 g/t gold. The intersect included 11.2m of 440g/t AgEq, which was made up of 165 g/t silver and 3.67 g/t gold, which began at a depth of 38.7m.
“The La Trini deposit continues to deliver wide widths of strong silver and gold mineralization. Also, we have drilling operations at Salomon-Favor and have initiated drilling at a newly discovered zone called El Orito, which is approximately 1.5 km west of Salomon-Favor. We see Los Ricos North as a large mineralized system and over the coming weeks and months we expect to expand on this with our aggressive exploration program,” said Brad Langille, President and CEO.
Hole LRGT-20-039 intersected 34.5m of 138 g/t AgEq from 31.8 to 66.3m, consisting of 79 g/t silver and 0.79 g/t gold, which included a higher grade core of 5.6m of 410 g/t AgEq.
Hole LRGT-20-031 intersected mineralization from 38.9 to 62.9m for 24.0m of 112 g/t AgEq which was made up of 52 g/t silver and 0.80 g/t gold. The intersect included 6.0m of 312 g/t AgEq, made up of 104 g/t silver and 4.16 g/t gold. Additional mineralization was intersected from 68.7 to 77.7m for 9.0m of 65 g/t AgEq.
Currently the Company has 6 drill rigs operating at Los Ricos North, with 3 operating at the La Trini target, 2 drilling at the Salomon-Favor target, and 1 drilling at El Orito. Detailed intersections are listed in Table 1 and the hole locations are shown in Table 2.
A cross section of the intercepts at La Trini, drill plan map, topographical view of the drilling to date, and a map of the Los Ricos North drilling sites and surface sampling is available at https://gogoldresources.com/images/uploads/files/LRN20201014.pdf.
Table 1: Drill Hole Intersections
|1.||Not true width|
|2.||AuEq and AqEq converted using a silver to gold ratio of 75:1|
Table 2: Drill Hole Locations
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 includes the ‘Main’ area, which is focused on drilling around a number of historical mines including El Abra, El Troce, San Juan, and Rascadero, as well as the Cerro Colorado, Las Lamas and East Vein targets. An initial resource on the Los Ricos South project was announced on July 29, 2020 and 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.
The Los Ricos North Project was launched in March 2020 and includes drilling at the Salomon-Favor, La Trini, and Mololoa targets.
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 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 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.
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