GoGold Resources Releases Additional Results from La Trini at Los Ricos North, including 5.6m of 1,070 g/t AgEq and 17.2m of 330 g/t AgEq
HALIFAX, Sept. 30, 2020 - GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the Company") is pleased to release additional assay results from the Company's La Trini deposit on the Los Ricos North project, including 5.6m of 1,070 g/t silver equivalent ("AgEq") from hole LRGT-20-33. Hole LRGT-20-033 was drilled at the La Trini deposit and intersected a silicified and altered quartz rhyolite unit from 13.9 to 35.7m for 21.8m of 335 g/t AgEq, consisting of 130 g/t silver and 2.73 g/t gold. The intersect included 5.6m of 1,070g/t AgEq, which was made up of 365 g/t silver and 9.40 g/t gold, which began at a depth of 18.4m.
"Our exploration program at the La Trini target in Los Ricos North is continuing to provide strong results and a better understanding of what controls high grade mineralization. Our drilling program in Los Ricos North is rapidly expanding from La Trini towards Salomon-Favor with a total of 6 drill rigs currently and a plan to increase to 8 to 10 rigs over the next 60 days," said Brad Langille, President and CEO.
Hole LRGT-20-011 intersected 22.5m of 261 g/t AgEq from 12.2m to 34.7m, consisting of 158 g/t silver and 1.37 g/t gold, which included a higher grade core of 17.2m of 330 g/t AgEq.
Hole LRGT-20-013 intersected mineralization from 36.3 to 80.8m, for 44.5m of 126 g/t AgEq which was made up of 63 g/t silver and 0.84 g/t gold. The intersect included 12.0m of 368 g/t AgEq, made up of 163 g/t silver and 2.73 g/t gold.
Currently the Company has 6 drill rigs operating at Los Ricos North, with 3 operating at the La Trini target, and 3 drilling at the Salomon-Favor target. Detailed intersections are listed in Table 1 and the hole locations are shown in Table 2.
A drill plan map of the La Trini drill holes showing basic geology and the outcrop of the mineralized zone is available at https://gogoldresources.com/images/uploads/files/LRN20200930.pdf
Table 1: Drill Hole Intersections
| Hold ID | Area | From | To | Length1 | Au | Ag | AuEq2 | AgEq2 |
| (m) | (m) | (m) | (g/t) | (g/t) | (g/t) | (g/t) | ||
| LRGT-20-010 | La Trini | 2.0 | 18.4 | 16.4 | 0.49 | 58.3 | 1.27 | 95.1 |
| including | 2.0 | 7.0 | 5.1 | 1.48 | 90.7 | 2.69 | 201.8 | |
| LRGT-20-011 | La Trini | 12.2 | 34.7 | 22.5 | 1.37 | 158.3 | 3.49 | 261.4 |
| including | 13.6 | 30.7 | 17.2 | 1.80 | 194.8 | 4.39 | 329.6 | |
| LRGT-20-012 | La Trini | 34.5 | 57.0 | 22.5 | 0.20 | 48.3 | 0.84 | 62.9 |
| and | 64.7 | 73.7 | 9.0 | 0.32 | 25.1 | 0.65 | 49.0 | |
| LRGT-20-013 | La Trini | 36.3 | 80.8 | 44.5 | 0.84 | 62.8 | 1.68 | 125.6 |
| including | 40.3 | 52.3 | 12.0 | 2.73 | 162.8 | 4.90 | 367.5 | |
| and | 94.8 | 107.0 | 12.2 | 0.02 | 30.6 | 0.42 | 31.9 | |
| LRGT-20-014 | La Trini | 27.6 | 66.0 | 38.4 | 0.40 | 29.6 | 0.79 | 59.2 |
| including | 42.0 | 51.0 | 9.0 | 1.16 | 76.6 | 2.18 | 163.4 | |
| LRGT-20-015 | La Trini | 22.3 | 51.9 | 29.6 | 0.42 | 87.8 | 1.59 | 119.5 |
| including | 23.8 | 29.8 | 6.0 | 1.81 | 270.9 | 5.42 | 406.5 | |
| LRGT-20-016 | La Trini | 2.0 | 29.0 | 27.0 | 0.12 | 48.2 | 0.76 | 57.3 |
| including | 21.5 | 27.5 | 6.0 | 0.33 | 115.5 | 1.87 | 140.6 | |
| and | 36.5 | 60.0 | 23.5 | 0.10 | 42.3 | 0.67 | 50.1 | |
| LRGT-20-024 | La Trini | 34.3 | 42.2 | 7.9 | 0.86 | 64.4 | 1.72 | 128.9 |
| and | 59.6 | 64.6 | 5.0 | 0.18 | 55.0 | 0.92 | 68.7 | |
| LRGT-20-025 | La Trini | 14.0 | 33.5 | 19.5 | 0.18 | 83.1 | 1.29 | 96.5 |
| and | 46.3 | 47.9 | 1.6 | 0.21 | 31.6 | 0.63 | 47.4 | |
| and | 54.2 | 60.8 | 6.6 | 0.18 | 27.9 | 0.55 | 41.3 | |
| LRGT-20-026 | La Trini | 20.9 | 31.0 | 10.1 | 0.07 | 35.1 | 0.54 | 40.6 |
| and | 36.9 | 40.0 | 3.1 | 0.28 | 91.9 | 1.50 | 112.6 | |
| LRGT-20-027 | La Trini | 22.8 | 26.8 | 4.0 | 0.10 | 27.8 | 0.47 | 35.1 |
| and | 110.8 | 112.8 | 2.0 | 0.10 | 385.2 | 5.23 | 392.6 | |
| LRGT-20-032 | La Trini | 7.7 | 10.7 | 3.0 | 0.16 | 17.3 | 0.39 | 29.3 |
| and | 28.1 | 29.6 | 1.5 | 0.02 | 32.5 | 0.46 | 34.3 | |
| and | 47.7 | 52.4 | 4.7 | 0.11 | 21.2 | 0.39 | 29.5 | |
| and | 58.7 | 65.2 | 6.5 | 0.23 | 24.1 | 0.56 | 41.6 | |
| LRGT-20-033 | La Trini | 13.9 | 35.7 | 21.8 | 2.73 | 130.3 | 4.47 | 335.2 |
| including | 18.4 | 24.0 | 5.6 | 9.40 | 365.4 | 14.27 | 1,070.3 |
| 1. | Not true width |
| 2. | AuEq and AqEq converted using a silver to gold ratio of 75:1 |
| 3. | Holes LRGT-20-028 to LRGT-20-031 assays are outstanding and will be released at a later date |
| 4. | Holes LRGT-20-017 to LRGT-20-023 are excluded from above, as they were drilled to test a lower grade area to the east of the main Trini zone. Mineralization was not significant, averaging 9.8m of 29.10 g/t AgEq at approximate depth of 40m. Results are available in the drilling summary at gogoldresources.com. |
Table 2: Drill Hole Locations
| Hole ID | Easting | Northing | Elevation | Azimuth | Dip | Length |
| LRGT-20-010 | 582925 | 2339573 | 917 | 180 | -65 | 81.0 |
| LRGT-20-011 | 583000 | 2339574 | 896 | 180 | -65 | 57.4 |
| LRGT-20-012 | 583125 | 2339559 | 935 | 180 | -65 | 91.5 |
| LRGT-20-013 | 583100 | 2339626 | 927 | 180 | -65 | 112.7 |
| LRGT-20-014 | 583115 | 2339596 | 918 | 180 | -70 | 100.8 |
| LRGT-20-015 | 583075 | 2339536 | 906 | 180 | -65 | 66.0 |
| LRGT-20-016 | 583100 | 2339550 | 917 | 180 | -65 | 101.0 |
| LRGT-20-024 | 582875 | 2339686 | 924 | 180 | -65 | 111.0 |
| LRGT-20-025 | 582925 | 2339627 | 912 | 180 | -65 | 73.8 |
| LRGT-20-026 | 582900 | 2339653 | 920 | 180 | -65 | 84.0 |
| LRGT-20-027 | 582850 | 2339706 | 897 | 210 | -65 | 151.8 |
| LRGT-20-028 | 582828 | 2339718 | 890 | 210 | -65 | 152.0 |
| LRGT-20-029 | 582850 | 2339706 | 897 | 180 | -65 | 94.8 |
| LRGT-20-030 | 582806 | 2339731 | 878 | 210 | -65 | 153.0 |
| LRGT-20-031 | 582925 | 2339686 | 928 | 180 | -65 | 136.7 |
| LRGT-20-032 | 583200 | 2339560 | 944 | 180 | -65 | 118.7 |
| LRGT-20-033 | 582975 | 2339598 | 911 | 180 | -65 | 62.0 |
Los Ricos District Exploration Projects
The Company's two exploration projects at its Los Ricos property are in Jalisco state, Mexico. The Los Ricos South Project began in March 2019 and includes the 'Main' area, which is focused on drilling around a number of historical mines including El Abra, El Troce, San Juan, and Rascadero, as well as the Cerro Colorado, Las Lamas and East Vein targets. An initial resource on the Los Ricos South project was announced on July 29, 2020 and indicated a Measured & Indicated Mineral Resource of 63.7 million ounces AgEq grading 199 g/t AgEq contained in 10.0 million tonnes, and an Inferred Resource of 19.9 million ounces AgEq grading 190 g/t AgEq contained in 3.3 million tonnes.
The Los Ricos North Project was launched in March 2020 and includes drilling at the Salomon-Favor, La Trini, and Mololoa targets.
Procedure, Quality Assurance / Quality Control and Data Verification
The diamond drill core (HQ size) is geologically logged, photographed and marked for sampling. When the sample lengths are determined, the full core is sawn with a diamond blade core saw with one half of the core being bagged and tagged for assay. The remaining half portion is returned to the core trays for storage and/or for metallurgical test work.
The sealed and tagged sample bags are transported to the ActLabs facility in Zacatecas, Mexico. ActLabs crushes the samples and prepares 200-300 gram pulp samples with ninety percent passing Tyler 150 mesh (106?m). The pulps are assayed for gold using a 50-gram charge by fire assay (Code 1A2-50) and over limits greater than 10 grams per tonne are re-assayed using a gravimetric finish (Code 1A3-50). Silver and multi-element analysis is completed using total digestion (Code 1F2 Total Digestion ICP). Over limits greater than 100 grams per tonne silver are re-assayed using a gravimetric finish (Code 8-Ag FA-GRAV Ag).
Quality assurance and quality control ("QA/QC") procedures monitor the chain-of-custody of the samples and includes the systematic insertion and monitoring of appropriate reference materials (certified standards, blanks and duplicates) into the sample strings. The results of the assaying of the QA/QC material included in each batch are tracked to ensure the integrity of the assay data. All results stated in this announcement have passed GoGold's QA/QC protocols.
Mr. David Duncan, P. Geo. 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 (TSX: GGD) 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. For more information visit gogoldresources.com.
CAUTIONARY STATEMENT:
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy of any of GoGold's securities in the United States.
This news release may contain "forward-looking information" as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Parral tailings project, the Los Ricos South and North projects, future operating margins, future production and processing, and future plans and objectives of GoGold, including the timing for completing an initial resources estimate at Los Ricos North, constitute forward looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of GoGold and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the performance of the Parral project. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.
Important factors that could cause actual results to differ materially from GoGold's expectations include exploration and development risks associated with GoGold's projects, the failure to establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations of recovery rates, and global economic conditions. For additional information with respect to risk factors applicable to GoGold, reference should be made to GoGold's continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, GoGold's Annual Information Form. The forward-looking information contained in this release is made as of the date of this release.
SOURCE GoGold Resources Inc.
Contact
Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E: steve@gogoldresources.com