Shares Outstanding: 265,238,134
Trading Symbols: TSX: GGD
OTCQX: GLGDF
"Results from our first 20 diamond drill holes are demonstrating the El Favor deposit is hosted by a large scale zone of semi-parallel silver and gold bearing structures. The deposit is open along strike and at depth and may be amenable to bulk mining," said
The El Favor deposit consists of several sub-parallel mineralized vein systems (
Hole LRGF-20-019 was drilled to test below the Salomon workings and intersected 70.5m of 61 g/t AgEq from 25.5 to 96.0m, consisting of 50 g/t Ag and 0.15 g/t Au in silicified and altered quartz rhyolite units, including a high-grade intercept of 2.9m of 390 g/t AgEq. The hole also intersected another vein from 112.2 to 127.5m for 15.3m of 174 g/t AgEq, which included a high-grade intercept of 2.0m of 928 g/t AgEq.
Hole LRGF-20-010 intersected 14.8m of 168 g/t AgEq from 36.0 to 50.8m, consisting of 131 g/t Ag and 0.49 g/t Au, including an intercept of 3.2m of 604 g/t AgEq, made up of 452 g/t Ag and 2.03 g/t Au.
Hole LRGF-20-020 intersected 12.8m of 149 g/t AgEq from 144.8 to 157.6m, consisting of 127 g/t Ag and 0.30 g/t Au, including an intercept of 3.3m of 368 g/t AgEq. The hole also intersected 2.0m of 254 g/t AgEq from 243.6 to 245.6m.
Detailed intersections are listed in Table 1 with a summary of the previously release drill holes at El Favor included in Table 2. Drill hole locations are included in Table 3. A drill plan map of
See Table 2 below for details of intersections for previously released drill holes. |
Table 1: Drill Hole Intersections
Hole ID3 | Area | From | To | Length1 | Au | Ag | AuEq2 | AgEq2 |
(m) | (m) | (m) | (g/t) | (g/t) | (g/t) | (g/t) | ||
LRGF-20-010 | 36.0 | 50.8 | 14.8 | 0.49 | 130.9 | 2.24 | 167.9 | |
including | 41.5 | 44.7 | 3.2 | 2.03 | 451.6 | 8.05 | 604.1 | |
LRGF-20-011 | 10.5 | 16.0 | 5.5 | 0.10 | 53.3 | 0.81 | 60.5 | |
including | 11.8 | 12.6 | 0.9 | 0.35 | 197.2 | 2.98 | 223.5 | |
LRGF-20-012 | 43.6 | 67.3 | 23.7 | 0.14 | 31.9 | 0.56 | 42.1 | |
and | 102.4 | 118.4 | 16.0 | 0.30 | 101.5 | 1.65 | 123.7 | |
including | 114.0 | 117.0 | 3.0 | 1.16 | 383.8 | 6.28 | 470.7 | |
LRGF-20-013 | 0.2 | 6.0 | 5.8 | 0.63 | 204.3 | 3.36 | 251.7 | |
and | 72.5 | 102.5 | 30.0 | 0.18 | 70.0 | 1.11 | 83.4 | |
including | 99.0 | 101.6 | 2.6 | 0.53 | 396.3 | 5.81 | 436.0 | |
and | 217.5 | 219.9 | 2.3 | 0.16 | 146.2 | 2.11 | 158.1 | |
LRGF-20-014 | 112.0 | 114.5 | 2.5 | 0.74 | 152.6 | 2.78 | 208.3 | |
LRGF-20-015 | 0.0 | 31.1 | 30.2 | 0.18 | 63.5 | 1.03 | 77.3 | |
including | 18.3 | 27.7 | 8.6 | 0.28 | 145.6 | 2.23 | 166.9 | |
LRGF-20-017 | 0.0 | 3.0 | 3.0 | 0.35 | 71.9 | 1.31 | 98.3 | |
and | 25.0 | 30.6 | 5.6 | 0.55 | 286.6 | 4.37 | 328.0 | |
including | 28.9 | 30.6 | 1.7 | 1.70 | 834.5 | 12.83 | 961.9 | |
LRGF-20-018 | 18.0 | 19.5 | 1.5 | 1.63 | 341.4 | 6.18 | 463.5 | |
LRGF-20-019 | 25.5 | 96.0 | 70.5 | 0.15 | 49.9 | 0.82 | 61.4 | |
including | 39.0 | 48.7 | 9.7 | 0.55 | 198.7 | 3.20 | 239.9 | |
including | 45.8 | 48.7 | 2.9 | 0.51 | 351.1 | 5.20 | 389.7 | |
and | 112.2 | 127.5 | 15.3 | 0.30 | 151.1 | 2.31 | 173.9 | |
including | 119.8 | 121.8 | 2.0 | 1.72 | 798.9 | 12.37 | 927.9 | |
LRGF-20-020 | 144.8 | 157.6 | 12.8 | 0.30 | 126.5 | 1.99 | 148.9 | |
including | 151.8 | 155.1 | 3.3 | 0.89 | 301.8 | 4.91 | 368.4 | |
and | 243.6 | 245.6 | 2.0 | 0.62 | 207.9 | 3.39 | 254.4 |
1. | Not true width |
2. | AuEq and AgEq converted using a silver to gold ratio of 75:1 |
3. | Holes 20-016 did not intercept significant mineralization |
Table 2: Previously Released Drill Holes –
Hole ID | Area | From | To | Length1 | Au | Ag | AuEq2 | AgEq2 |
(m) | (m) | (m) | (g/t) | (g/t) | (g/t) | (g/t) | ||
The following drill holes were previously released per GoGold news release #43 dated | ||||||||
LRGS-20-001 | Salomon | 2.6 | 22.5 | 19.9 | 0.18 | 52.4 | 0.88 | 65.9 |
and | 45.0 | 55.4 | 10.4 | 0.18 | 50.5 | 0.85 | 63.8 | |
and | 90.0 | 110.3 | 20.3 | 0.18 | 54.9 | 0.91 | 68.6 | |
and | 223.5 | 237.5 | 14.0 | 0.24 | 280.4 | 3.98 | 298.2 | |
including | 225.8 | 230.9 | 5.0 | 0.51 | 698.7 | 9.82 | 736.6 | |
LRGF-20-001 | 15.0 | 56.7 | 41.7 | 0.36 | 141.8 | 2.25 | 168.4 | |
including | 18.7 | 29.7 | 11.0 | 1.12 | 444.4 | 7.05 | 528.6 | |
and | 131.3 | 147 | 15.7 | 0.14 | 48.1 | 0.79 | 58.9 | |
LRGF-20-002 | 0.0 | 18.0 | 18.0 | 0.16 | 64.2 | 1.01 | 76.0 | |
and | 29.7 | 71.0 | 41.3 | 0.07 | 16.5 | 0.29 | 21.9 | |
including | 29.7 | 36.0 | 6.3 | 0.20 | 40.2 | 0.74 | 55.2 | |
LRGF-20-003 | 1.5 | 34.5 | 33.0 | 0.13 | 68.2 | 1.04 | 77.8 | |
including | 32.5 | 34.5 | 2.0 | 0.37 | 186.7 | 2.86 | 214.3 | |
LRGF-20-004 | 0.0 | 15.8 | 15.8 | 0.26 | 73.1 | 1.23 | 92.6 | |
including | 9.0 | 14.8 | 5.8 | 0.57 | 151.5 | 2.59 | 194.4 | |
and3 | 23.0 | 70.5 | 41.1 | 0.24 | 74.6 | 1.24 | 92.7 | |
including | 34.0 | 38.1 | 4.1 | 1.45 | 418.9 | 7.04 | 527.6 | |
LRGF-20-005 | 22.5 | 43.5 | 21.0 | 0.11 | 74.4 | 1.10 | 82.7 | |
including | 22.5 | 31.5 | 9.0 | 0.23 | 150.1 | 2.23 | 167.4 | |
LRGF-20-006 | 41.0 | 53.0 | 12.0 | 0.20 | 95.9 | 1.48 | 110.9 | |
including | 44.0 | 47.4 | 3.4 | 0.53 | 271.4 | 4.15 | 311.0 | |
and | 70.5 | 97.5 | 27.0 | 0.97 | 113.0 | 2.47 | 185.5 | |
including | 76.0 | 83.3 | 7.3 | 3.35 | 349.6 | 8.01 | 601.0 | |
LRGF-20-007 | 0.0 | 11.0 | 11.0 | 0.28 | 159.7 | 2.40 | 180.3 | |
including | 3.5 | 7.0 | 3.5 | 0.53 | 291.5 | 4.41 | 330.9 | |
LRGF-20-008 | 0.0 | 52.1 | 52.1 | 0.69 | 254.5 | 4.08 | 306.0 | |
including | 15.0 | 52.1 | 37.1 | 0.93 | 343.0 | 5.51 | 413.1 | |
including | 26.0 | 31.0 | 5.0 | 5.62 | 2052.0 | 32.98 | 2473.4 | |
including | 26.7 | 30.0 | 3.3 | 8.47 | 3039.5 | 49.00 | 3674.7 | |
LRGF-20-009 | 3.0 | 14.6 | 11.6 | 0.43 | 148.3 | 2.41 | 180.5 | |
including | 3.0 | 5.5 | 2.5 | 1.22 | 324.5 | 5.55 | 416.0 | |
and | 60.0 | 92.5 | 32.5 | 0.32 | 63.0 | 1.15 | 86.6 | |
including | 74.5 | 81.5 | 7.0 | 0.64 | 171.3 | 2.93 | 219.6 |
1. | Not true width |
2. | AuEq and AgEq converted using a silver to gold ratio of 75:1 |
3. | Excludes 6.4m of historically mined voids |
Table 3: Drill Hole Locations
Hole ID | Easting | Northing | Elevation | Azimuth | Dip | Length |
LRGF-20-010 | 585410 | 2336646 | 1258 | 180 | -60 | 280.5 |
LRGF-20-011 | 585380 | 2336638 | 1261 | 180 | -45 | 236.0 |
LRGF-20-012 | 585309 | 2336552 | 1299 | 180 | -45 | 241.5 |
LRGF-20-013 | 585362 | 2336546 | 1303 | 180 | -45 | 262.5 |
LRGF-20-014 | 585576 | 2336719 | 1224 | 180 | -45 | 231.0 |
LRGF-20-015 | 585627 | 2336691 | 1229 | 180 | -45 | 199.5 |
LRGF-20-016 | 585576 | 2336719 | 1224 | 180 | -70 | 255.0 |
LRGF-20-017 | 585627 | 2336691 | 1229 | 180 | -70 | 76.5 |
LRGF-20-018 | 585600 | 2336708 | 1227 | 180 | -70 | 202.5 |
LRGF-20-019 | 585332 | 2336571 | 1292 | 180 | -45 | 216.0 |
LRGF-20-020 | 585279 | 2336577 | 1294 | 180 | -45 | 327.0 |
VRIFY Slide Deck and 3D Presentation
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Access the GoGold Company Profile on VRIFY at: https://vrify.com
The VRIFY Slide Deck and 3D Presentation for GoGold can be viewed at: https://vrify.com/explore/decks/9404 and on the Company's website at: www.gogoldresources.com.
Los Ricos District Exploration Projects
The Company's two exploration projects at its Los Ricos property are in
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
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.
About
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 "
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 Los Ricos South and North projects, and future plans and objectives of GoGold, including the timing for completing and the magnitude of an initial resource 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.
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