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GoGold Intersects 29.8m of 713 g/t AgEq, including 4.5m of 4,251 g/t AgEq in First Holes Drilled at Los Ricos North

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GoGold Intersects 29.8m of 713 g/t AgEq, including 4.5m of 4,251 g/t AgEq in First Holes Drilled at Los Ricos North

 

 

 

 

 

GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) is pleased to release the assay results from the first 3 holes drilled at the Company’s La Trini silver-gold deposit on the Los Ricos North project, and 4 drill holes from the Los Ricos South project.

 

Hole LRGT-20-003 was drilled on the La Trini deposit  and intersected a silicified and altered quartz rhyolite  unit from 128.0 to 157.8m for 29.8m of 713 g/t silver equivalent, consisting of 532 g/t silver and 2.41 g/t gold.  The intersect included 4.5m of 4,251 g/t AgEq, which was made up of 3,289 g/t silver and 12.83 g/t gold. The hole was set up to twin historical RC drill hole TRRC-32 completed by TUMI Resources in 2007, with both holes entering and exiting the mineralized zone at similar depths and both carrying high grade silver and gold mineralization.

 

“We are very excited that our initial holes on the La Trini deposit have confirmed significant widths of high-grade silver and gold mineralization. The La Trini deposit is a flat-lying zone that outcrops on surface, strikes approximately east-west and dips gently to the north around 20 degrees.  These characteristics, combined with the gentle topography, will allow GoGold to rapidly develop the Mineral Resource of the deposit by drilling a series of short holes from surface over the next 4 to 6 months.  We’re following the same exploration strategy and approach that we used to develop the initial Mineral Resource Estimate at Los Ricos South,” said Brad Langille, President and CEO.  “Post-resource, we continue to hit very encouraging results at the Rascadero target within our Los Ricos South project, which we will continue to follow up on.”

 

Table 1:  Drill Hole Intersections – Los Ricos North

 

Hole ID Area From To Length1 Au Ag AuEq2 AgEq2
    (m) (m) (m) (g/t) (g/t) (g/t) (g/t)
LRGT-20-001 La Trini 72.0 115.1 43.1 0.70 91.0 1.91 143.6
  including 96.0 113.8 17.8 0.89 132.0 2.65 198.9
  including 96.0 100.0 4.0 1.92 224.8 4.92 369.0
LRGT-20-002 La Trini 35.4 78.1 42.8 0.40 51.8 1.09 81.5
  including 39.0 49.5 10.5 1.23 55.7 1.97 148.0
LRGT-20-003 La Trini 128.0 157.8 29.8 2.41 531.7 9.50 712.6
  including 137.5 142.0 4.5 12.83 3289.3 56.68 4,251.3
1. Not true width      
2. AuEq and AqEq converted using a silver to gold ratio of 75:1      

 

Currently the Company has 3 drill rigs operating at Los Ricos North, with the initial focus on the La Trini, Mololoa and Solomon targets.  The Company is currently on the 14th drill hole at the La Trini deposit  and more results will  be announced shortly.

 

At Los Ricos South, hole LRGG 20-202 was drilled on section 1100N in the Rascadero area of the project and intersected the Los Ricos vein near surface from 85.5 to 106.0m for 20.5m of 364 g/t silver equivalent, consisting of 2.86 g/t gold and 150 g/t silver.  The intersect included 11.5m of 613 g/t silver equivalent.

 

Detailed intersections for drilling at Los Ricos North are listed in Table 1, details for drilling at Los Ricos South are listed in Table 2, and the hole locations for both projects are shown in Table 3.

 

Table 2:  Drill Hole Intersections – Los Ricos South

 

Hole ID Area Section From To Length1 Au Ag AuEq2 AgEq2
      (m) (m) (m) (g/t) (g/t) (g/t) (g/t)
LRGG-20-199 East Vein 375N 157.7 162.0 4.3 0.74 70.3 1.68 125.8
  including   158.5 160.5 2.1 1.27 130.1 3.00 225.2
LRGG-20-200 East Vein 375N 244.5 247.1 2.6 0.09 50.3 0.76 57.2
LRGG-20-201 Rascadero 1100N 47.7 51.5 3.8 0.15 40.0 0.69 51.4
LRGG-20-202 Rascadero 1100N 85.5 106.0 20.5 2.86 149.7 4.85 364.0
  including   90.0 101.5 11.5 4.95 242.3 8.18 613.4
1. Not true width          
2. AuEq and AqEq converted using a silver to gold ratio of 75:1          

 

Table 3: Drill Hole Locations  

 

Hole ID Easting Northing Elevation Azimuth Dip Length
LRGT-20-001 582964 2339720 918 210 -60 200.5
LRGT-20-002 582920 2339687 909 0 -90 123.0
LRGT-20-003 583008 2339822 961 180 -60 214.0
LRGG-20-199 610929 2327967 1437 50 -45 175.5
LRGG-20-200 610929 2327967 1473 50 -70 298.5
LRGG-20-201 610196 2328298 1317 50 -45 75.0
LRGG-20-202 610196 2328298 1317 0 -90 195.0

 

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 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 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.

 

Cross Section of Drill Holes at La Trini Deposit, included in GoGold’s Los Ricos North project (CNW Group/GoGold Resources Inc.)

 

Posted August 5, 2020

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