GoGold Reports Record Parral Production of 417,191 Silver Equivalent Ounces
April 12 2018 - 8:34AM
InvestorsHub NewsWire
Halifax, NS -- April 12, 2018 -- InvestorsHub NewsWire --
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.
For further information please
contact:
Steve Low
Corporate Development
GoGold Resources
T: 416 855 0435
E: steve@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.
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