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GoGold Intersects 18.8m Near Surface of 255 g/t Silver Equivalent at Los Ricos South Project

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GoGold Intersects 18.8m Near Surface of 255 g/t Silver Equivalent at Los Ricos South Project

 

 

 

 

 

GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) is pleased to release the assay results from 8 diamond drill holes at the Los Ricos South Project in the Company’s Los Ricos district project, including three at San Juan and five in the Main area.

 

Hole LRGG-20-117 was drilled on Section 425N in the Main area of the project and intersected the Los Ricos quartz vein from 3.0 to 21.8m.  The vein averaged 255 g/t silver equivalent or 3.39 g/t gold equivalent, made up of 129 g/t silver and 1.68 g/t gold over 18.8 metres.

 

“Drilling continues at Los Ricos with 6 drill rigs as we accelerate the drilling required for our initial resource.  At the Los Ricos North Project we continue with the groundwork preparing for an upcoming drill campaign, which we anticipate commencing after the Easter break,”  said Brad Langille, President and CEO.  “We continue to monitor the COVID-19 developments in Mexico and have implemented additional safety procedures at both Los Ricos and Parral as described in PR#11 dated March 18, 2020.”

 

Hole LRGG-20-115 was drilled in the Main area of the project on section 400N and intersected 19.5m of 199 g/t silver equivalent or 2.65 g/t gold equivalent from 4.5 to 24.0m, consisting of 153 g/t silver and 0.61 g/t gold.  Also included in the intersection was 9.6m of 370 g/t silver equivalent and 4.93 g/t gold equivalent.

 

Hole LRGG-20-119 was drilled in the Main area of the project on section 450N and intersected 26.4m at surface of 203 g/t silver equivalent or 2.71 g/t gold equivalent, consisting of 135 g/t silver and 0.91 g/t gold.  Also included in the intersection was 12.6m of 316 g/t silver equivalent and 4.21 g/t gold equivalent.

 

Hole LRGG-20-114 became stuck in the hanging wall in section 100N of the Main area and was therefore abandoned.

 

Detailed intersections are listed in Table 1, and the hole locations are shown in Table 2.

 

A longitudinal section summary of all the holes drilled at Los Ricos to date is available at

https://gogoldresources.com/component/rsfiles/preview?path=diagrams/LosRicos_LongSec_20200324.pdf

 

 

 

Table 1:  Drill Hole Intersections
                   
Hole ID Area Section From To Length1 Au Ag AuEq2 AgEq2
      (m) (m) (m) (g/t) (g/t) (g/t) (g/t)
LRGG-20-112 San Juan 775N 130.9 136.3 5.3 0.19 39.9 0.73 54.5
  and   144.1 153.8 9.8 0.33 52.7 1.03 77.4
LRGG-20-113 Main 75N 4.0 21.3 17.3 0.47 54.7 1.20 90.1
LRGG-20-114 Main 100N Abandoned in Hanging Wall above Los Ricos Vein
LRGG-20-115 Main 400N 4.5 24.0 19.5 0.61 152.8 2.65 198.7
  including   4.5 14.1 9.6 1.17 281.3 4.93 369.5
LRGG-20-116 San Juan 775N 26.0 36.6 10.6 0.37 52.6 1.07 80.2
LRGG-20-117 Main 425N 3.0 21.8 18.8 1.68 128.5 3.39 254.5
LRGG-20-118 San Juan 700N 97.0 116.8 19.8 0.38 58.2 1.16 86.9
  including   107.6 110.3 2.7 1.66 142.1 3.56 266.7
LRGG-20-119 Main 450N 0.0 26.4 26.4 0.91 135.0 2.71 203.2
  including   8.4 21.0 12.6 1.60 196.0 4.21 315.7
             
1. Not true width          
2. AuEq and AqEq converted using a silver to gold ratio of 75:1          

 

 

 

Table 2: Drill Hole Locations
             
Hole ID Easting Northing Elevation Azimuth Dip Length
LRGG-20-112 610210 2327887 1248 50 -65 183.0
LRGG-20-113 610866 2327502 1278 50 -20 42.0
LRGG-20-114 610828 2327523 1259 50 -20 15.0
LRGG-20-115 610828 2327523 1259 50 -20 40.5
LRGG-20-116 610333 2327989 1290 50 -45 63.0
LRGG-20-117 610598 2327754 1290 50 -20 49.5
LRGG-20-118 610322 2327882 1273 50 -45 130.5
LRGG-20-119 610582 2327773 1303 50 -20 60.0

 

 

Los Ricos Exploration Projects

 

The Company is undertaking two drilling and exploration projects at its Los Ricos property located in Jalisco state, Mexico.  The 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.  The South Project also includes the Cerro Colorado and Las Lamas targets.  The North Project was launched this month and includes the Monte del Favor, Salomon, 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 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.

 

Posted March 24, 2020

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