Trading
Symbol: TSX: GGD
Shares Outstanding: 171,376,481
HALIFAX, April 12, 2018 /CNW/ - GoGold Resources
Inc. (TSX: GGD) ("GoGold", "the Company") announces record
production for the quarter ended March 31,
2018 of 265,629 ounces of silver and 1,908 ounces of gold
for 417,191 silver equivalent ounces at the Parral project, a 6%
increase from the prior quarter. The previous record quarter was
408,024 in the quarter ending June 2015. This past quarter has
been the sixth consecutive quarter of production growth as the
initiatives put in place in previous quarters continue to return
positive results.
During the quarter, the Company stacked a total of 439,000
tonnes of material, an average of 4,878 per day, of which 193,000
tonnes were fresh tailings and 236,000 tonnes were reprocessed
material. This is an increase of 24% over the average stacking
rate from the last year.
GoGold was successful in stacking a second lift on the leach pad
for the first time in the quarter, at similar daily stacking rates
to the first lift. Leaching of the second lift allows for residual
leaching of the original bottom stacked materials. Management
foresees an increase in production in future quarters due to the
increased stacking rate, fresh tailings coming under leach, as well
as the residual leaching from the first lift.
Commissioning of the SART (sulfidization, acidification,
recycling, and thickening) plant at Parral, which will reduce
cyanide consumption and generate a saleable copper sulfide product,
is ongoing with evaluation and integration of the circuit expected
to contribute cost savings and copper production in the current
quarter.
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.