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GoGold Resources Inc
Symbol GGD
Shares Issued 185,823,461
Close 2019-12-03 C$ 0.67
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GoGold drills 33.5 m of 2.67 g/t AuEq at Los Ricos

2019-12-04 09:19 ET - News Release

Mr. Brad Langille reports


GoGold Resources Inc. has released the assay results from eight new diamond drill holes at the Los Ricos project, including four holes in the San Juan area, two holes in the Main area and two holes along the south edge of the Main area.

Hole LRGG-19-073, drilled on Section 750N to test the San Juan zone, intersected 33.5 metres (m) of quartz vein from 59.8 m to 96.5 m, averaging 2.67 grams per tonne (g/t) gold equivalent or 200.4 g/t silver equivalent, made up of 1.12 g/t gold and 116.7 g/t silver, including 9.5 m of 5.47 g/t gold equivalent. Historical workings of 3.3 m were encountered in this hole.

Hole LRGG-19-076 was drilled on Section 750N approximately 50 m downdip of hole LRGG-19-073 and intersected 38.5 m of quartz vein from 106.5 to 145.0 m, averaging 2.38 g/t gold equivalent, or 178.2 g/t silver equivalent, including 5.8 m of 5.17 g/t gold equivalent. No historical workings were encountered in the hole.

Hole LRGG-19-077 was drilled on Section 750N approximately 40 m downdip of hole LRGG-19-076 and intersected 26.0 m of quartz vein from 112.5 to 138.5 m, averaging 2.29 g/t gold equivalent, or 171.7 g/t silver equivalent, including 4.3 m of 7.49 g/t gold equivalent. No historical workings were encountered in the hole.

"Hole 77 is the deepest intersection on the San Juan zone that we have drilled to date. We're seeing wide zones of mineralization carrying strong gold and silver grade in all three of the new holes and I believe we are starting to outline a new ore shoot to the north of the historical Los Ricos mine," said Brad Langille, president and chief executive officer.

Hole LRGG-19-065 was drilled in the Main area and intersected 13.1 m of quartz vein from 276 to 291 m, averaging 1.35 g/t gold equivalent, or 101.1 g/t silver equivalent, made up of 0.23 g/t gold and 83.9 g/t silver, including 5.4 m of 2.57 g/t gold equivalent. Historical workings of 1.9 m were encountered.

Detailed intersections are listed in the attached table.

To date, GoGold has completed 90 diamond drill holes, totalling 15,140 m, of HQ-size diamond drill core since starting the Los Ricos drilling program in March, 2019. The phase 2 drilling program has started and a fourth drill machine was added to the program.

The core drilling campaign is focused on defining the mineralized halo around the historical high-grade ore shoots as defined by the underground workings and the 65 historical RC drill holes on the property. The program has now been expanded for additional testing along 3.2 km of the Los Ricos mineralized zone.

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 testwork.

The sealed and tagged sample bags are transported to the ActLabs facility in Zacatecas, Mexico. ActLabs crushes the samples and prepares 200-gram to 300-gram pulp samples with 90 per cent passing Tyler 150 mesh (106 microm). The pulps are assayed for gold using a 50-gram charge by fire assay and overlimits greater than 10 grams per tonne are reassayed using a gravimetric finish. Silver and multielement analysis is completed using total digestion. Overlimits greater than 100 grams per tonne silver are reassayed using a gravimetric finish.

Quality assurance/quality control and data verification

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.

David Duncan, professional geoscientist, 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.

We seek Safe Harbor.

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