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GoGold Updates Parral Mine Commissioning. On Schedule and Performing Well

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GoGold Updates Parral Mine Commissioning. On Schedule and Performing Well






GoGold Resources Ltd. (TSX: GGD), is pleased to provide an update on the commissioning of its Parral Tailings Project in Mexico. Commissioning of the main plant began in June 2014 and production rates have been consistently increasing as ramping up continues. As of August 31st, 2014, approximately 180,000 tonnes have been agglomerated and stacked on the lined heap leach pad and a total of 61,000 ounces of silver and 105 ounces of gold have been produced as dore. In accordance with the mine plan, the first material being treated is from Zone 3 (known as the Red Hill). The performance to date has met or exceeded expectations based on the following performance indicators:



Capex: We have essentially completed construction with a capital expenditure cost of approximately $32.5 million versus our pre-feasibility study budgeted cost of $35 million.



Head Grade: The silver head grade as measured at the plant has shown an average increase of 20% over the original resource block model grade of the Red Hill material of 69 g/t Ag (“grams per tonne”) as determined in the Pre-feasibility study. The average resource grade for the mined areas of the block model from the report is 65 g/t Ag. The plant head grade as determined by the plant is currently averaging 83 g/t Ag. This represents a significant increase in recoverable metal early in the project.



Agglomerate Quality: The feed of tailings are agglomerated with cement prior to stacking. The purpose of the agglomeration is to make the material permeable to the cyanide leaching solution which is a very critical first step for metal recovery. To date, the agglomerate quality has been good and percolation through the heap is occurring within expectations.



Metal Recovery: A key performance indicator for a new heap leach startup is the grade of the leach solutions flowing from the heap. The silver solution grades have been well within the design parameters which clearly indicate the expected cyanide leaching reaction is occurring. Actual recovery calculations will be done once sufficient amounts of material have been leached and residue samples collected and assayed. As of today, all material stacked (195,000 tonnes) is currently under leach. When the plant is in full production later this fall, it is expected that 300,000 tonnes will be under leach at any given time.



Reagent Consumptions: The main reagents consumed at Parral are cement, cyanide and zinc. All reagents to date are well within the forecast consumptions for the material being treated. In particular the cyanide which is the major consumable has been well below forecasted consumption which should represent significant savings going forward. The main by-product which is leached along with the silver is copper. The amounts of copper leached have been within the expected range and have not overly impacted cyanide consumption.



Dore Quality: The dore produced to date has averaged 85% silver with minor amounts of gold, copper and zinc. The quality falls within the assay range accepted by the refineries. Dore bars totaling 41,223.34 ounces of silver and 76.46 ounces of gold have already been shipped to the refinery for treatment.



Average Cost per Tonne of Ore: Mining and processing per tonne of ore to date has averaged $6.50 – $8.50 per tonne which represents a significant reduction from the pre-feasibility study predicted cost per tonne of $12.



The operation will continue to ramp up over the coming months as the company reaches commercial production.


Posted September 9, 2014

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