Connect with us

Precious Metals

GoGold drills 288 g/t AgEq over 42.3 metres at Los Ricos South, Mexico

GoGold Resources Inc. [GGD-TSX; GLGDF-OTCQX] reported additional drilling results from the 100%-optioned Los Ricos South…

Share this article:

Published

on

This article was originally published by Resource World

GoGold Resources Inc. [GGD-TSX; GLGDF-OTCQX] reported additional drilling results from the 100%-optioned Los Ricos South project, Jalisco, Mexico, within the Eagle and Main deposits. Hole LRGAG-22-125 intercepted 42.3 metres of 288 g/t AgEq (silver equivalent), containing 2,017 g/t AgEq over 2.8 metres.

“We continue to see strong results from our drilling program at Los Ricos South, such as those from hole 125, which expands on the high-grade area,” said Brad Langille, president and CEO. “It is drilling results such as these which we anticipate will provide a very positive impact when our mineral resource estimate and preliminary economic assessment at Los Ricos South is updated later this year.”

LRGAG-22-117 returned 25.0 metres of 1.09 g/t gold and 133.1 g/t silver, including 1.96 g/t gold and 306.8 g/t silver, including 8.08 g/t gold and 1,460.0 g/t silver. Other holes returned equally encouraging assays.

The Eagle deposit adjoins the Main deposit and represents a northern extension of the previously defined mineral resource estimate in the Los Ricos South PEA. The Eagle concession covers 1,107 hectares, including the area between the Main deposit and the company’s Jamaica concession located 3 km to the northwest, where the company holds the rights to additional concessions. Drilling at Eagle has returned the highest-grade intercepts to date in the district. These wide, high-grade intercepts are consistent with geophysical targets on the new concession.

The LRGG holes contained in the results herein are part of a new drilling program at the Main deposit. The purpose of the program 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 resource upon which the Los Ricos South preliminary economic assessment was based on when it was released on Jan. 20, 2021.

The company’s two exploration projects at its Los Ricos property are in Jalisco state, Mexico. The Los Ricos South project began in March 2019, and an initial mineral resource was released on July 29, 2020, which disclosed a measured and indicated mineral resource of 63.7 million ounces AgEq grading 199 g/t AgEq contained in 10 million tonnes, and an inferred mineral resource of 19.9 million ounces AgEq grading 190 g/t AgEq contained in 3.3 million tonnes. An initial PEA on the project was released on Jan. 20, 2021, indicating a net present value at a 5-per-cent discount of US$295-million. The Eagle concession was acquired in October, 2022, and is adjacent to the main area, which contains the initial mineral resource.

The Los Ricos North project was launched in March 2020, and an initial mineral resource was released on December 7, 2021, which disclosed an indicated mineral resource of 87.8 million ounces AgEq grading 122 g/t AgEq contained in 22.3 million tonnes, and an inferred mineral resource of 73.2 million ounces AgEq grading 111 g/t AgEq contained in 20.5 million tonnes.

Halifax, Nova Scotia-based GoGold Resources operates the Parral tailings mine in the state of Chihuahua, and has the Los Ricos South and Los Ricos North exploration projects in the state of Jalisco.

tsx
otcqx


tsx-ggd

gogold resources inc

Share this article:

Canadian Silver Co. Will See Big Changes in 2024

Source: Michael Ballanger 12/22/2023

Michael Ballanger of GGM Advisory Inc. takes a look at the current state of the market and shares on stock…

Share this article:

Published

on

By

Continue Reading

EGR options out Urban Berry project in Quebec to Harvest Gold – Richard Mills

2023.12.23
EGR Exploration Ltd. (TSXV: EGR) has moved from owner to shareholder at its Urban Berry project in Quebec, this week announcing it is optioning…

Share this article:

Published

on

Continue Reading
Economics

Crypto, Crude, & Crap Stocks Rally As Yield Curve Steepens, Rate-Cut Hopes Soar

Crypto, Crude, & Crap Stocks Rally As Yield Curve Steepens, Rate-Cut Hopes Soar

A weird week of macro data – strong jobless claims but…

Share this article:

Published

on

Continue Reading

Trending