GoGold Announces Strong Drilling Results at Mololoa in North Los Ricos

“Mololoa continues to contribute to strong results with high quality interceptions in addition to broader interceptions of potentially mineable bulk material,” said Brad Langille, Chairman and CEO. “We believe these results will contribute to our goal of aggressively expanding our mineral resources in Los Ricos in 2022.”

Table 1: Borehole intersections

Hole ID

Area / Vein

From

For

Length1

At

AG

AuEq2

AgEq2



(m)

(m)

(m)

(g/t)

(g/t)

(g/t)

(g/t)

LRGM-21-093

Mololoa

85.4

87.0

1.7

0.19

111.5

1.68

126.1


and

91.1

93.4

2.3

0.16

213.4

3.01

225.6


including

92.9

93.4

0.5

0.59

912.0

12.75

956.2


and

99.0

133.5

31.9

0.28

100.5

1.62

121.9


including

124.3

124.9

0.6

3.33

827.0

2:36 p.m.

1,076.7

LRGM-21-095

Vein of Mololoa

269.0

273.5

4.5

0.85

219.7

3.78

283.2


including

271.0

272.0

1.0

2.03

632.0

10:46

784.3

LRGM-21-099

Mololoa – Tamara

136.5

138.0

1.5

0.83

298.0

4.80

360.3

LRGM-21-102

Mololoa – Tamara

134.8

136.5

1.8

0.08

77.7

1.11

83.6

LRGM-21-103

Mololoa – Tamara

305.5

309.2

3.6

0.28

69.6

1.21

90.7


including

305.5

306.7

1.2

0.69

176.0

3.04

227.8

LRGM-21-104

Mololoa – Tamara

266.4

299.8

33.4

1.09

235.1

4.22

316.6


including

266.4

276.1

9.8

3.56

765.2

13.76

1,032.4


including

268.6

272.2

3.5

8.48

1,681.6

30.90

2,317.4


including

271.0

272.2

1.1

5:15 p.m.

3,080.0

58.22

4,366.3

  1. Not true width
  2. AqEq converted using a 75:1 silver to gold ratio at 100% recoveries
  3. Holes LRGM-21-100 and 101 are awaiting analysis.

The Mololoa deposit is located approximately 1 km north of the El Favor deposit and may be an eastward extension of the Casados ​​deposit. The deposit consists of several veins whose total length exceeds 1000m to date and many historical works have been encountered in drilling to date.

Table 2: Drill hole locations

Hole ID

Abscissa

Ordered

Elevation

Azimuth

Soak

Length

LRGM-21-093

584712

2338397

968

208

240

-50

LRGM-21-095

584463

2338642

1090

323

180

-58

LRGM-21-099

584586

2338478

1003

177

180

-70

LRGM-21-102

584976

2337818

1040

140

240

-55

LRGM-22-103

584511

2338651

1105

354

180

-52

LRGM-22-104

584438

2338608

1079

352

180

-65

VRIFY slideshow and 3D presentation
VRIFY is a platform used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D models and interactive presentations. VRIFY can be accessed through the website and with the VRIFY iOS and Android apps.

The VRIFY Slideshow and 3D Presentation for GoGold can be viewed at: https://vrify.com/decks/10437 and on the company’s website at: www.gogoldresources.com.

Los Ricos District Exploration Projects
The Company’s two exploration projects on its Los Ricos property are in Jalisco State, Mexico. The Los Ricos South project began in March 2019 and a first mineral resource was announced on July 29, 2020 which revealed a measured and indicated mineral resource of 63.7 million ounces AgEq grading 199 g/t AgEq contained in 10.0 million tonnes, and an inferred mineral resource of 19.9 million ounces AgEq grading 190 g/t AgEq contained in 3.3 million tonnes. A first PEA on the project was announced on January 20, 2021 indicating an NPV5% of 295 million US dollars.

The Los Ricos North project was launched in March 2020 and a first mineral resource was announced on December 7, 2021, which reported an Indicated Mineral Resource of 87.8 million AgEq ounces grading 122 g/t AgEq contained in 22.3 million tonnes, and an Inferred Mineral Resource of 73.2 million AgEq ounces grading 111 g/t AgEq contained in 20.5 million tonnes. The Company has set up a drilling program for an additional 100,000 meters of drilling for 2022.

Procedure, quality assurance / quality control and data verification
Diamond drill core (HQ size) is geologically recorded, photographed and marked for sampling. When the sample lengths are determined, the whole core is sawn off with a diamond-bladed core saw, with half of the core bagged and tagged for analysis. The remaining half is returned to the core trays for storage and/or for metallurgical test work.

Sealed and labeled sample bags are transported to the ALS Chemex facility in Zacatecas, Mexico. ALS Chemex grinds samples and prepares 200-300 gram pulp samples with ninety percent passing Tyler 150 mesh (106 μm). Pastes are assayed for gold using a 30 gram load by fire assay (code AA23) and above limits above 10 grams per tonne are re-assayed using a gravimetric finish (code ME-GRAV21). Silver and multi-element analysis is performed using total digestion (Code ME-ICP61 Total Digestion ICP). Beyond limits above 100 grams per ton, silver is reanalyzed using a gravimetric finish (ME-GRA21).

Quality assurance and quality control (“QA/QC”) procedures monitor the chain of custody of samples and include the systematic insertion and monitoring of appropriate reference materials (certified standards, blanks and duplicates) into the chains of custody. samples. The analysis results of the QA/QC material included in each batch are tracked to ensure the integrity of the analysis data. All results shown in this announcement have passed GoGold’s QA/QC protocols.

Sir. David Duncan, P. Geo. is the qualified person as defined by National Instrument 43-101 and is responsible for the technical information in this version.

About GoGold Resources
GoGold Resources (TSX:GGD) is a Canada-based silver and gold producer focused on mining, developing, exploring and acquiring high-quality projects in Mexico. The Company operates the Parral Tailings Mine in the State of Chihuahua and owns the Los Ricos South and Los Ricos North exploration projects in the state of Jalisco. Based at Halifax, NS, GoGold is building a pipeline of low-cost, high-margin projects. For more information, visit gogoldresources.com.

CAUTION :
The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”), or any law state on transferable securities, and may not be offered or sold in United States or to or for the benefit of U.S. persons (as defined in Regulation S of the U.S. Securities Act), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or under exemptions from these. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of GoGold in United States.

This press release may contain “forward-looking information” as defined in applicable Canadian securities laws. All statements, other than statements of historical facts, included in this release, including, without limitation, statements regarding the Los Ricos South and North projects, and GoGold’s future plans and objectives, including the intention to undertake further exploration at Los Ricos North, and the prospect of new discoveries there, constitute forward-looking information that involves various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which were used to develop this information but which may prove to be incorrect, including, but not limited to, assumptions relating to the pursuit of GoGold and of its subsidiaries as a going concern. 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 that 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 the exploration and development risks associated with GoGold’s projects, the inability to establish estimated mineral resources or mineral reserves, the volatility of raw material prices, changes in recovery rates and global economic conditions. For further information on the risk factors applicable to GoGold, reference should be made to GoGold’s continuous disclosure documents filed from time to time with securities regulatory authorities, including, but not limited to , GoGold’s Annual Information Form. The forward-looking information contained in this press release speaks as of the date of this press release.

SOURCE GoGold Resources Inc.

Comments are closed.