10:10:33 EDT Tue 22 Sep 2020
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GoGold Resources Inc
Symbol GGD
Shares Issued 186,148,461
Close 2020-01-14 C$ 0.67
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GoGold produces 584,988 oz AgEq in December quarter

2020-01-14 10:07 ET - News Release

Mr. Steve Low reports


GoGold Resources Inc. had record production for the quarter ending Dec. 31, 2019, of 584,988 silver equivalent ounces, consisting of 379,082 silver ounces and 2,407 gold ounces, a slight increase from the previous quarter and record of 580,711.

"Production at Parral has increased for five consecutive quarters and we are now at a production level we aim to maintain for the rest of the year. Our production rate this quarter is 80 per cent higher than where we were at this quarter last year," said Brad Langille, president and chief executive officer. "Parral continues to perform and we anticipate receiving benefits from the SART in the upcoming quarter, which we expect will increase the profitability of the project going forward. In addition, Los Ricos continues to provide great results putting our shareholders in a favourable position with the strengthening precious metal prices."

SART update

The newly installed SART plant has begun cold commissioning with motor testing, electrical checks, and going through final instrumentation installation and adjustments as part of final electrical completion. The SART plant is expected to bring important economic and technical benefits to the Parral facility. The main economic drivers are the recovery of a high-grade saleable copper sulphide product and the regeneration of cyanide, which is the largest single operating cost at Parral, and improve the leaching efficiency of the heap.

                                        QUARTERLY PRODUCTION SUMMARY

Quarter ended                      December, 2018  March, 2019  June, 2019  September, 2019  December, 2019

Silver production (oz)                    167,974      288,693     250,073          326,625         379,082 
Gold production (oz)                        1,858        1,613       2,281            2,921           2,407   
Silver equivalent production (oz)         325,148      424,210     451,011          580,711         584,988 

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.

We seek Safe Harbor.

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