PR Newswire
HALIFAX, NS, July 19, 2023
Shares Outstanding: 326,301,011
Trading Symbols: TSX: GGD
OTCQX: GLGDF
706 g/t AgEq over 14.0m including 2.3m of 4,081 g/t AgEq including 0.6m of 9,283 g/t AgEq
HALIFAX, NS, July 19, 2023 /PRNewswire/ - GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the Company") is pleased to announce additional drilling results from Los Ricos South, within the Main area, including a high-grade intercept from hole LRGG-22-280. The hole intercepted 14.0m of 706 g/t silver equivalent ("AgEq"), including 2.3m of 4,081 g/t AgEq which also included a very high-grade interval of 9,283 g/t AgEq over 0.6m.
"We've drilled over 100 additional holes in the Main zone at Los Ricos South since our initial drilling which was included in our July 2020 Mineral Resource Estimate. Our additional drilling has helped us better define the continuity of the high grade ore shoots in the deposit," said Brad Langille, President and CEO. "We believe this will be invaluable as we complete our mine plan for the upcoming Preliminary Economic Assessment and Pre-Feasibility Study at Los Ricos South."
Table 1: Drill Hole Intersections
Hole ID | Area / Vein | From | To | Length1 | Au | Ag | AuEq2 | AgEq2 |
(m) | (m) | (m) | (g/t) | (g/t) | (g/t) | (g/t) | ||
LRGG-22-280 | Main area | 1.2 | 16.7 | 14.0 | 1.77 | 573.7 | 9.42 | 706.2 |
including | 10.1 | 12.4 | 2.3 | 10.30 | 3,308.2 | 54.41 | 4,080.8 | |
including | 10.1 | 10.7 | 0.6 | 22.70 | 7,580.0 | 123.77 | 9,282.5 | |
LRGG-22-241 | Main area | 53.2 | 59.6 | 6.3 | 0.59 | 86.0 | 1.74 | 130.5 |
including | 54.5 | 55.5 | 1.0 | 1.93 | 321.0 | 6.21 | 465.7 | |
LRGG-22-242 | Main area | 128.4 | 144.6 | 16.2 | 0.70 | 72.0 | 1.66 | 124.7 |
including | 133.8 | 136.2 | 2.4 | 2.29 | 94.9 | 3.56 | 266.7 | |
LRGG-22-243 | Main area | 195.4 | 199.8 | 4.5 | 0.76 | 142.9 | 2.67 | 199.9 |
LRGG-22-245 | Main area | 79.2 | 81.8 | 2.6 | 0.90 | 239.8 | 4.10 | 307.4 |
LRGG-22-246 | Main area | 185.0 | 199.0 | 14.0 | 2.90 | 84.6 | 4.03 | 302.3 |
including | 193.6 | 194.6 | 1.0 | 31.80 | 261.0 | 35.28 | 2,646.0 | |
LRGG-22-247 | Main area | 167.6 | 185.0 | 17.5 | 0.60 | 93.1 | 1.84 | 138.1 |
including | 175.0 | 180.0 | 5.0 | 1.28 | 160.0 | 3.41 | 255.9 | |
LRGG-22-248 | Main area | 120.8 | 122.2 | 1.4 | 0.66 | 78.3 | 1.70 | 127.8 |
LRGG-22-249 | Main area | 125.4 | 135.3 | 9.9 | 0.95 | 333.9 | 5.40 | 404.9 |
LRGG-22-250 | Main area | 151.2 | 157.5 | 6.3 | 1.54 | 101.5 | 2.89 | 217.1 |
including | 152.3 | 154.1 | 1.8 | 3.12 | 213.0 | 5.96 | 447.0 | |
LRGG-22-251 | Main area | 161.0 | 162.6 | 1.6 | 1.09 | 128.5 | 2.80 | 210.2 |
LRGG-22-252 | Main area | 123.6 | 133.2 | 7.4 | 1.39 | 167.6 | 3.62 | 271.6 |
including | 126.1 | 126.8 | 0.7 | 4.81 | 429.0 | 10.53 | 789.7 | |
LRGG-22-253 | Main area | 210.4 | 212.4 | 2.0 | 0.94 | 146.2 | 2.88 | 216.3 |
LRGG-22-254 | Main area | 167.7 | 179.6 | 11.9 | 1.28 | 183.1 | 3.72 | 279.2 |
including | 170.5 | 171.1 | 0.6 | 7.06 | 1,830.0 | 31.46 | 2,359.5 | |
and | 189.4 | 192.9 | 3.4 | 0.45 | 166.1 | 2.67 | 200.1 | |
LRGG-22-255 | Main area | 174.8 | 184.3 | 9.5 | 1.08 | 185.8 | 3.55 | 266.6 |
including | 183.0 | 184.3 | 1.3 | 4.50 | 727.8 | 14.20 | 1,065.3 | |
LRGG-22-256 | Main area | 135.3 | 142.0 | 5.4 | 1.97 | 136.1 | 3.79 | 284.0 |
including | 138.0 | 139.0 | 1.1 | 5.28 | 336.0 | 9.76 | 732.0 | |
LRGG-22-257 | Main area | 60.5 | 72.0 | 11.6 | 1.50 | 164.7 | 3.69 | 277.0 |
including | 71.4 | 72.0 | 0.7 | 8.64 | 261.0 | 12.12 | 909.0 | |
LRGG-22-258 | Main area | 144.8 | 151.0 | 6.2 | 1.14 | 162.5 | 3.31 | 248.3 |
LRGG-22-260 | Main area | 115.3 | 137.7 | 22.5 | 1.20 | 124.1 | 2.85 | 213.8 |
including | 119.6 | 120.1 | 0.5 | 11.50 | 427.0 | 17.19 | 1,289.5 | |
LRGG-22-261 | Main area | 50.6 | 56.2 | 5.6 | 0.67 | 58.1 | 1.45 | 108.6 |
LRGG-22-262 | Main area | 135.0 | 140.9 | 5.8 | 2.27 | 41.6 | 2.82 | 211.8 |
including | 135.0 | 136.0 | 1.0 | 7.91 | 28.2 | 8.29 | 621.5 | |
LRGG-22-263 | Main area | 150.2 | 155.6 | 5.4 | 1.50 | 85.7 | 2.64 | 198.3 |
including | 153.0 | 153.5 | 0.5 | 0.87 | 472.0 | 7.16 | 537.3 | |
LRGG-22-264 | Main area | 131.6 | 159.0 | 24.9 | 1.01 | 104.5 | 2.40 | 180.3 |
including | 149.5 | 156.5 | 7.0 | 2.46 | 247.5 | 5.76 | 431.8 | |
including | 153.0 | 154.7 | 1.7 | 8.78 | 746.8 | 18.74 | 1,405.5 | |
LRGG-22-265 | Main area | 134.7 | 141.8 | 7.1 | 1.25 | 416.6 | 6.81 | 510.7 |
including | 136.0 | 139.0 | 3.0 | 2.69 | 905.0 | 14.76 | 1,106.7 | |
including | 137.1 | 138.0 | 0.9 | 5.70 | 2,300.0 | 36.37 | 2,727.5 | |
and | 151.9 | 156.2 | 4.3 | 0.86 | 215.8 | 3.73 | 280.0 | |
LRGG-22-267 | Main area | 57.0 | 73.5 | 16.5 | 1.32 | 153.2 | 3.36 | 251.9 |
including | 66.0 | 68.5 | 2.5 | 6.44 | 571.5 | 14.06 | 1,054.5 | |
LRGG-22-268 | Main area | 17.7 | 20.6 | 2.9 | 3.54 | 264.6 | 7.07 | 530.1 |
LRGG-22-269 | Main area | 42.1 | 59.4 | 17.3 | 2.53 | 159.8 | 4.66 | 349.5 |
including | 50.2 | 51.0 | 0.9 | 26.70 | 1,215.0 | 42.90 | 3,217.5 | |
LRGG-22-271 | Main area | 39.5 | 43.3 | 3.8 | 2.19 | 197.0 | 4.82 | 361.5 |
LRGG-22-272 | Main area | 79.9 | 84.4 | 4.5 | 1.54 | 73.5 | 2.52 | 188.7 |
LRGG-22-273 | Main area | 40.2 | 49.5 | 9.3 | 0.74 | 92.7 | 1.98 | 148.3 |
LRGG-22-274 | Main area | 55.6 | 66.0 | 8.3 | 0.63 | 100.6 | 1.97 | 148.1 |
LRGG-22-275 | Main area | 67.5 | 71.8 | 4.3 | 0.51 | 170.4 | 2.78 | 208.7 |
LRGG-22-276 | Main area | 135.0 | 148.7 | 13.7 | 1.48 | 213.4 | 4.32 | 324.1 |
including | 137.5 | 140.0 | 2.5 | 4.26 | 439.7 | 10.13 | 759.5 | |
LRGG-22-277 | Main area | 138.0 | 142.2 | 4.2 | 1.45 | 254.4 | 4.85 | 363.4 |
LRGG-22-278 | Main area | 170.2 | 176.3 | 6.1 | 1.02 | 76.7 | 2.04 | 153.2 |
LRGG-22-279 | Main area | 179.5 | 185.5 | 6.0 | 1.44 | 199.2 | 4.09 | 306.9 |
1. Not true width |
2. AgEq converted using a silver to gold ratio of 75:1 at recoveries of 100% |
The Main area drilling campaign's purposes is to better define the very high-grade portions of the current deposit that may be amenable to bulk underground mining. These holes are in addition to those drilled in 2019 and 2020 which formed part of the initial Mineral Resource Estimate ("Resource") upon which the Los Ricos South Preliminary Economic Assessment ("PEA") was based upon when it was released on January 20, 2021. It is expected that these holes will be included in an updated Resource to be released by the end of the summer.
Figure 2, above, provides a summary of the Los Ricos District, including both the Los Ricos North and Los Ricos South projects. The map includes an outline of the concession areas and a summary of the current Mineral Resource Estimates ("MRE") on the projects, as well as stars locating each of the deposits included within the current MREs.
Table 2: Drill Hole Locations
Hole ID | Easting | Northing | Elevation | Azimuth | Dip | Length |
LRGG-22-241 | 610277 | 2328012 | 1285 | 50 | -45 | 87 |
LRGG-22-242 | 610266 | 2327866 | 1265 | 50 | -45 | 180 |
LRGG-22-243 | 610484 | 2327564 | 1261 | 50 | -51 | 228 |
LRGG-22-244 | 610240 | 2327843 | 1249 | 50 | -50 | 175 |
LRGG-22-245 | 610276 | 2328011 | 1285 | 50 | -85 | 112 |
LRGG-22-246 | 610392 | 2327710 | 1263 | 50 | -63 | 226 |
LRGG-22-247 | 610256 | 2327791 | 1247 | 50 | -57 | 230 |
LRGG-22-248 | 610278 | 2327846 | 1259 | 50 | -59 | 171 |
LRGG-22-249 | 610589 | 2327583 | 1263 | 50 | -51 | 137 |
LRGG-22-250 | 610411 | 2327725 | 1266 | 50 | -61 | 201 |
