GoGold Resources (TSX:GGD) has announced the latest drilling results from the Eagle and Main Deposits at Los Ricos South, with Hole LRGAG-22-125 intercepting 42.3m of 288 g/t silver equivalent, containing 2,017 g/t AgEq over 2.8m. The results are consistent with geophysical targets on the new concession, and drilling at the Eagle has returned the highest grade intercepts to date in the district.

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 3km to the northwest, where the Company holds the rights to additional concessions.

The LRGG holes contained in the results in Table 1 are part of a new drilling program at the Main Deposit. The aim of the program is to better define the very high-grade portions of the current deposit that may be amenable to bulk underground mining. The Company is carrying out a trade-off study to better define what portion of the deposit could be mined in a lower strip ratio pit and what portion would best be mined in more selective bulk underground mining.

Table 1:  Drill Hole Intersections 

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 (“PEA”) was based upon when it was released on January 20, 2021.

Overall, the results are a positive indication of the mineral potential in the Los Ricos district, and the Company is confident that further exploration will yield significant results.

Brad Langille, President and CEO of GoGold, commented in a press release: “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 shown in Figure 1. 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. “

Table 2 : Eagle Deposit Drill Intercept Highlights

Table 3: Drill Hole Locations  

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.