Shares Outstanding: 263,835,538
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX, NS, Sept. 30, 2020 /CNW/ - 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 (106μm). 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.