Shares Outstanding: 222,025,246
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX, March 31, 2020 /CNW/ - GoGold Resources
Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the
Company") is pleased to report that the previously
announced SART project has been successfully installed and
commissioned at its Parral Tailings facility located in
Chihuahua, Mexico. The SART plant
is providing important economic and technical benefits to the
Parral facility. The main economic drivers are the recovery of a
high-grade saleable copper sulfide product, the re-generation of
cyanide, which is the largest single operating cost at Parral, and
improve the leaching efficiency of the heap.
"Our team at Parral has successfully adapted agglomerated heap
leaching to old mined waste at Parral, and the SART is a further
optimization of this innovation. The operation produces low
cost gold and silver ounces while providing environmental
remediation for the town of Parral. We see this expertise
which we've developed over the last 6 years of operation as a real
asset to the Company that may be applicable to the millions of
tonnes of mined waste in Mexico
and beyond," said Brad Langille,
President and CEO.
The commissioning phase began late January, and steady
production was reached early March. The plant is currently
operating as intended producing copper sulfide precipitate and
re-generating cyanide. This has reduced the need for purchased
cyanide by more than 20%, or approximately $200,000 in the month of March. The revenue
attributed to the copper sulfide precipitate is offsetting the
costs of operation of the SART plant.
The company contracted BQE Water of Vancouver, BC to design, construct and
commission the plant, with local suppliers fabricating major
components. BQE is a world leader in the installation and operation
of SART plants.
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 (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 project in
the state of Chihuahua and has the
Los Ricos exploration project 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 project, future
operating margins, future production and processing, and future
plans and objectives of GoGold, 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.