GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) is pleased to report production for the quarter ending March 31, 2023 of 400,145 silver equivalent ounces, consisting of 173,717 silver ounces, 2,016 gold ounces, and 143 tonnes of copper.
“We continue to focus on completion of the preliminary economic assessment in Los Ricos North, followed by a revised resource and updated preliminary economic assessment for Los Ricos South in June,” said Brad Langille, President and CEO. “At Parral, our operations team has delivered a safe and environmentally friendly operation, which with the current prices should yield a positive financial result.”
Table 1: Quarterly Production Summary
|Quarter Ended||Dec 2021||Mar 2022||Jun 2022||Sep 2022||Dec 2022||Mar 2023|
|Silver Production (oz)||195,678||186,655||213,495||145,944||159,838||173,717|
|Gold Production (oz)||2,558||2,791||3,081||2,278||2,399||2,016|
|Copper Production (tonnes)||123||125||98||124||222||143|
|Silver Equivalent Production (oz)1||444,071||455,991||509,796||400,467||441,217||400,145|
|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: Dec 2021 – 77, Mar 2022 – 77, June 2022 – 83, Sep 2022 – 90, Dec 2022 – 82, Mar 2023 – 84. The copper:silver ratios were: Dec 2021 – 417, Mar 2022 – 411, June 2022 – 415, Sep 2022 – 398, Dec 2022 – 377, Mar 2023 – 399.|
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 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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