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GoGold Resources Inc
Symbol GGD
Shares Issued 185,823,461
Close 2019-10-08 C$ 0.65
Recent Sedar Documents

GoGold produces 1.84M AgEq oz in F2019

2019-10-09 07:33 ET - News Release

Mr. Brad Langille reports

GOGOLD REPORTS RECORD QUARTERLY PRODUCTION OF 580,711 SILVER EQUIVALENT OUNCES, EXCEEDING PREVIOUS RECORD BY 29%

GoGold Resources Inc. had record production for the quarter ending Sept. 30, 2019, of 580,711 silver equivalent ounces, consisting of 326,625 silver ounces and 2,921 gold ounces, representing an increase of 29 per cent from the previous quarter and previous record of 451,011 silver equivalent ounces.

Production for the fiscal year ending Sept. 30, 2019, was 1,846,835 silver equivalent ounces, consisting of 1,059,438 silver ounces and 9,149 gold ounces. This represents an annual record and is an increase over the prior year record of 42 per cent, or 547,421 silver equivalent ounces.

"This marks the third consecutive quarter where we've set a production record, with a substantial increase this quarter of 130,000 ounces from the past quarter, in what has typically been our weakest quarter of the year due to the rainy season," said Brad Langille, president and chief executive officer. "This has been by far our strongest year at Parral, with production of 1.85 million ounces, over 500,000 ounces higher than last year. With Parral running at these rates, the exceptional results that we're seeing at our Los Ricos project, and the strengthening of the gold and silver markets, it's an exciting time for us as we work to build value for our shareholders."

SART update

Construction on the SART continues to be on schedule, with the foundation and significant concrete work completed, and many key components on site ready for installation. Construction is scheduled to be completed prior to the end of 2019.

  
           QUARTERLY PRODUCTION SUMMARY
                                                                          
                                        September,   December,   March,    June,   September,
Quarter ended                                2018        2018     2019     2019         2019

Silver production (oz)                    105,623     167,974  288,693  250,073      326,625 
Gold production (oz)                        1,665       1,858    1,613    2,281        2,921   
Silver equivalent production (oz) (1)     240,939     325,148  424,210  451,011      580,711 

(1) Silver equivalent production include gold ounces produced and sold converted to a silver 
    equivalent based on a ratio of the average market metal price for each period. The ratio 
    for each of the periods presented was: September, 2018 -- 81, December, 2018 -- 85, 
    March, 2019 -- 84, June, 2019 -- 88 and September, 2019 -- 87.


  

  
                         ANNUAL PRODUCTION SUMMARY                           

                                        September,   September,   September,
Year ended                                   2017         2018         2019 

Silver production (oz)                    568,306      774,600    1,059,438
Gold production (oz)                        7,961        6,650        9,149    
Silver equivalent Production (oz) (1)   1,146,574    1,300,414    1,847,835

(1) Silver equivalent production include gold ounces produced and sold 
    converted to a silver equivalent based on a ratio of the average market 
    metal price for each period. The ratio for each of the periods presented 
    was: September, 2017 -- 73, September, 2018 -- 79 and September, 2019 
    -- 86.


  

Robert Harris, PEng, is the qualified person as defined by National Instrument 43-101 and is responsible for the technical information of this release.

About GoGold Resources Inc.

GoGold Resources is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high-quality projects in Mexico. The company operates the Parral tailings project in the state of Chihuahua and has the Los Ricos exploration project in the state of Jalisco. Headquartered in Halifax, N.S., GoGold is building a portfolio of low-cost, high-margin projects.

We seek Safe Harbor.

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