The Prospector News

GoGold Updates on Parral Zinc Circuit and Reports Parral Production

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

GoGold Updates on Parral Zinc Circuit and Reports Parral Production

 

 

 

 

 

GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) announces production for the quarter ending September 30, 2023. During the quarter, GoGold completed a rehandling program at Parral where old pad material was rehandled and restacked which resulted in the reclamation of new pad space which will defer further pad capital expenditure. Production was impacted as a result of the rehandling program, as the rehandled material was a lower grade than stacking new material. Production during the quarter was 300,789 silver equivalent ounces, consisting of 169,443 silver ounces, 1,106 gold ounces, and 115 tonnes of copper. Currently, only new material is being stacked at Parral.

 

SART Zinc Circuit

 

Construction of a zinc circuit addition to the SART plant at Parral is well underway and projected to be completed by the end of this year, with the project on budget and on schedule. Testing completed has demonstrated that an addition of a zinc circuit to the SART plant should produce a saleable zinc product and more importantly regenerate cyanide that is expected to greatly increase cash flow at Parral operation over the next seven years of mine life.

 

Summary of Zinc circuit effects:

  • Saleable zinc precipitate to be added to the revenue stream
  • Regeneration of approximately 750 tons of cyanide per quarter
  • Anticipated to generate net increased cash flows of $1.5 million per quarter
  • Zinc circuit capital expenditure estimated at $2 million over 6 month construction period
  • Project payback expected within 6 months after construction
  • Parral up to end of its mine life will be a producer of silver, gold, copper and zinc
  • Expected to result in better precious metals recovery

 

“The completion of the zinc circuit in the SART is important as it expected to generate approximately $500,000 per month for cash flow, which will pay back the $2M capex quickly. We believe it will improve the metallurgical recoveries of gold and silver on the material which we are processing currently, so we expect to see production increase once commissioning is completed,” said Brad Langille, President and CEO. “The team has been successful on maintaining schedule and budget on their construction. This discipline to schedule and budget we believe will serve us well as we move closer to a construction decision on Los Ricos South.”

 

Table 1: Quarterly Production Summary

 

Quarter Ended Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023
Silver Production (oz) 213,495 145,944 159,838 173,717 203,894 169,443
Gold Production (oz) 3,081 2,278 2,399 2,016 1,512 1,106
Copper Production (tonnes) 98 124 222 143 135 115
Silver Equivalent Production (oz)1 509,796 400,467 441,217 400,145 375,112 300,789
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: Jun 2022 – 83, Sep 2022 – 90, Dec 2022 – 82, Mar 2023 – 84, Jun
2023 – 82, Sep 2023 – 83. The copper:silver ratios were: Jun 2022 – 415, Sep 2022 – 398, Dec 2022 –
377, Mar 2023 – 399, Jun 2023 – 352, Sep 2023 – 356.

 

Table 2: Annual Production Summary

 

Quarter Ended Sep 2019 Sep 2020 Sep 2021 Sep 2022 Sep 2023
Silver Production (oz) 1,059,438 1,315,661 1,138,358 741,772 706,891
Gold Production (oz) 9,149 10,089 13,447 10,708 7,032
Copper Production (tonnes) 260 470 469 615
Silver Equivalent Production (oz)1 1,847,835 2,295,416 2,270,073 1,810,326 1,517,264
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: Sep 2019 – 86, Sep 2020 – 89, Sep 2021 – 72, Sep 2022 – 82, Sep
2023 – 83. The copper:silver ratio for the periods presented was: Sep 2020 – 302, Sep 2021 – 348, Sep
2022 – 410, Sep 2023 – 373.

 

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.

 

Posted October 17, 2023

Share this news article

MORE or "UNCATEGORIZED"


Great Pacific Gold Announces Closing of Upsized $16.9 Million Private Placement Financing Led by Canaccord Genuity Corp

Great Pacific Gold Corp. (TSX-V: GPAC) (OTCQX: FSXLF) (FSE: V3H)... READ MORE

July 3, 2025

Ridgeline Minerals Provides Assay Results and Drill Program Updates for the Big Blue and Atlas Projects

Big Blue highlights: 0.6 meters grading 0.7% Cu, 3,194 g/t Ag and... READ MORE

July 3, 2025

Goldshore Intersects 42.7m of 1.09 g/t Au at the Eastern QES Zone of the Moss Deposit

Goldshore Resources Inc. (TSX-V: GSHR) (OTCQB: GSHRF) (FSE: 8X00)... READ MORE

July 3, 2025

Dios Sells K2 to Azimut

Dios Exploration Inc. (TSX-V: DOS) is pleased to report it has e... READ MORE

July 3, 2025

Northisle Announces Near Surface Intercepts and Higher-Grade Intercepts at Depth at West Goodspeed on its North Island Project

Highlights: Recent drilling at West Goodspeed supports the presen... READ MORE

July 3, 2025

Copyright 2025 The Prospector News