Trading Symbol: TSX: GGD
Shares Outstanding: 171,376,481
HALIFAX, April 13, 2017 /CNW/ - GoGold Resources
Inc. (TSX: GGD) ("GoGold", "the Company") announces production
for the quarter ended March 31, 2017
of 422,773 silver equivalent ounces, a 5% increase over the prior
quarter.
Production at Parral continued to improve, producing 278,230
silver equivalent ounces, an increase of 78,167, or 39% as compared
to the prior quarter. The project continues to improve on a monthly
basis, with March marking the seventh consecutive month where
production has increased.
"The improvements made at Parral in late 2016 have now taken
effect and we expect to see continued increases in production in
the near future" said Brad Langille,
CEO.
Production at Santa Gertrudis contributed 144,543 silver
equivalent ounces, which is a decrease of 58,939, or 29% as
compared to the prior quarter. The Company transitioned from a
very high grade toll milling process in the prior quarter to a toll
heap leaching process which will allow for lower grade material to
be processed in the current and future quarters. The toll heap
leaching option will allow us to fully evaluate heap leaching
during the current feasibility work at Santa Gertrudis and continue
to generate production and cash flow.
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's Parral Tailings project is one of the
lowest cash cost silver producers in the world. 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 Santa Gertrudis 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 and Santa Gertrudis
projects. 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.