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GoGold Reports 600,697 Silver Equivalent Ounce Record Setting Quarterly Production at Parral
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) is pleased to report record production for the quarter ending March 31, 2020 of 600,697 silver equivalent ounces, consisting of 365,795 silver ounces, 2,355 gold ounces, and 28 tonnes of copper.
“Production at Parral has increased for 6 consecutive quarters, as it continues to perform well. This quarter we also have the benefit of some copper by-product from the SART as it completed commissioning, which equates to 9,509 silver equivalent ounces.” said Brad Langille, President and CEO. “We anticipate the Parral heap leach will continue to produce residual metal from inventory and provide positive cash flow in the June quarter, while we operate in accordance with the Mexican federal government’s COVID-19 mandate and temporarily suspend non-essential services at Parral.”
| Table 1: Quarterly Production Summary | |||||
| Quarter Ended | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 |
| Silver Production (oz) | 288,693 | 250,073 | 326,625 | 379,082 | 365,795 |
| Gold Production (oz) | 1,613 | 2,281 | 2,921 | 2,407 | 2,355 |
| Copper Production (tonnes) | – | – | – | – | 28 |
| Silver Equivalent Production (oz)1 | 424,210 | 451,011 | 580,711 | 584,988 | 600,697 |
| 1. | “Silver equivalent production” include gold ounces and copper tons produced and converted to a silver equivalent based on a ratio of the average market metal price for each period. The gold:silver ratio for each of the periods presented was: Mar 2019 – 84, Jun 2019 – 88, Sep 2019 – 87, Dec 2019 – 86, Mar 2020 – 96. The copper:silver ratio for Mar 2020 was 340. | ||||
Mr. Robert Harris, P.Eng. 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 April 7, 2020
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