GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) is pleased to report production for the quarter ending June 30, 2022 of 509,796 silver equivalent ounces, consisting of 213,495 silver ounces, 3,081 gold ounces, and 98 tonnes of copper.
“Parral production continues to trend higher to normal rates and continues to provide meaningful cash flow contributing to the general and administrative costs and the Los Ricos exploration expenditures,” said Brad Langille, President and CEO.
Table 1: Quarterly Production Summary
|Quarter Ended||Mar 2021||Jun 2021||Sep 2021||Dec 2021||Mar 2022||Jun 2022|
|Silver Production (oz)||302,933||315,632||221,202||195,678||186,655||213,495|
|Gold Production (oz)||3,208||3,170||3,437||2,558||2,791||3,081|
|Copper Production (tonnes)||86||120||138||123||125||98|
|Silver Equivalent Production (oz)1||551,207||575,302||526,044||444,071||455,991||509,796|
|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 2021 – 69, Jun 2021 – 68, Sep 2021 – 73, Dec
2021 – 77, Mar 2022 – 77, June 2022 – 83. The copper:silver ratios were: Mar 2021 – 320, June 2021 – 369, Sep 2021 – 383, Dec 2021 – 417, Mar
2022 – 411, June 2022 – 415.
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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We acknowledge the [financial] support of the Government of Canada.