GoGold Resources Inc. (TSX: GGD) announces record production for the quarter ended March 31, 2018 of 265,629 ounces of silver and 1,908 ounces of gold for 417,191 silver equivalent ounces at the Parral project, a 6% increase from the prior quarter. The previous record quarter was 408,024 in the quarter ending June 2015. This past quarter has been the sixth consecutive quarter of production growth as the initiatives put in place in previous quarters continue to return positive results.
During the quarter, the Company stacked a total of 439,000 tonnes of material, an average of 4,878 per day, of which 193,000 tonnes were fresh tailings and 236,000 tonnes were reprocessed material. This is an increase of 24% over the average stacking rate from the last year.
GoGold was successful in stacking a second lift on the leach pad for the first time in the quarter, at similar daily stacking rates to the first lift. Leaching of the second lift allows for residual leaching of the original bottom stacked materials. Management foresees an increase in production in future quarters due to the increased stacking rate, fresh tailings coming under leach, as well as the residual leaching from the first lift.
Commissioning of the SART (sulfidization, acidification, recycling, and thickening) plant at Parral, which will reduce cyanide consumption and generate a saleable copper sulfide product, is ongoing with evaluation and integration of the circuit expected to contribute cost savings and copper production in the current quarter.
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’s Parral Tailings project is one of the lowest cash cost silver producers in the world. 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.