GoGold Resources (TSX:GGD) Reports High-Grade Drilling Results at Los Ricos South’s Eagle and Main Deposits

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.

Figure 1: Eagle + Main Area Grade Thickness Longitudinal Section. Source: GoGold Resources Inc.

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.

Figure 2: Eagle Longitudinal Section. Source: GoGold Resources Inc.

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 

Hole ID Area / Vein From To Length1 Au Ag AuEq2 AgEq2
    (m) (m) (m) (g/t) (g/t) (g/t) (g/t)
LRGAG-22-116 Eagle 57.6 72.3 14.7 1.45 68.9 2.37 177.6
  including 57.6 62.6 5.0 2.56 162.0 4.72 353.9
  including 58.6 59.6 1.0 5.18 257.0 8.61 645.5
LRGAG-22-117 Eagle 64.5 89.5 25.0 1.09 133.1 2.87 214.9
  including 65.5 74.5 9.0 1.96 306.8 6.06 454.1
  including 65.5 66.5 1.0 8.08 1,460.0 27.55 2,066.0
LRGAG-22-119 Eagle 162.0 174.5 12.5 0.89 81.5 1.98 148.3
  including 186.0 187.4 1.4 2.77 321.0 7.05 529.1
LRGAG-22-120 Eagle 229.0 242.3 13.4 1.44 44.9 2.04 152.7
  including 239.2 240.3 1.2 9.92 119.7 11.52 863.9
LRGAG-22-122 Eagle 203.7 216.0 12.4 1.54 28.2 1.91 143.6
  including 205.1 207.3 2.2 6.05 45.6 6.65 499.0
LRGAG-22-124 Eagle 128.7 130.7 2.0 2.07 95.1 3.33 250.1
  and 140.2 142.6 2.4 7.05 56.3 7.80 584.9
  including 141.0 141.9 0.8 14.35 66.0 15.23 1,142.3
LRGAG-22-125 Eagle 127.9 170.2 42.3 2.14 127.9 3.84 288.3
  including 153.9 161.3 7.3 9.66 485.8 16.13 1,210.0
  including 153.9 156.7 2.8 15.35 865.7 26.89 2,016.8
LRGG-22-228 Main Area 235.7 251.5 11.9 1.30 120.1 2.90 217.5
LRGG-22-231 Main Area 30.0 32.0 2.0 0.59 95.3 1.86 139.8
LRGG-22-232 Main Area 112.6 122.8 10.2 2.60 60.9 3.41 255.7
  including 113.4 114.2 0.8 24.60 238.0 27.77 2,083.0
LRGG-22-233 Main Area 280.2 299.0 18.9 0.51 78.2 1.56 116.7
  including 281.1 282.0 0.9 1.84 400.0 7.17 538.0

 

1. Not true width
2. AgEq converted using a silver to gold ratio of 75:1 at recoveries of 100%
3. Holes LRGG-22-121, LRGG-22-229 and LRGG-22-230 did not intercept significant mineralization
4. Hole LRGG-22-123 was abandoned due to technical difficulties

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

Hole ID Area / Vein From To Length1 Au Ag AuEq2 AgEq2
    (m) (m) (m) (g/t) (g/t) (g/t) (g/t)
LRGAG-22-118 Eagle 95.6 150.6 55.0 7.80 2,152.7 36.51 2,737.9
  including 95.6 120.6 25.0 16.07 4,664.2 78.26 5,869.3
  including 104.6 119.6 15.0 26.74 7,755.8 130.15 9,761.3
  including 107.6 114.6 7.0 55.87 16,524.6 276.19 20,714.5
  including 107.6 110.6 3.0 121.97 36,953.0 614.67 46,100.5
  including 108.6 110.6 2.0 145.25 52,764.5 848.78 63,658.3
LRGAG-22-035 Eagle 69.0 179.6 110.6 1.64 264.6 5.17 387.5
  including 129.0 140.5 11.5 11.31 2,198.3 40.62 3,046.7
  including 130.4 133.8 3.5 30.24 6,392.5 115.48 8,660.8
  including 130.4 131.9 1.5 63.24 12,729.3 232.96 17,472.0
  including 131.0 131.9 0.9 104.50 13,742.5 287.73 21,580.0
LRGAG-21-014 Eagle 144.3 216.9 72.6 5.13 76.0 6.14 460.6
  including 198.8 210.7 11.9 28.58 115.9 30.13 2,259.8
  including 208.6 210.7 2.1 146.03 176.8 148.39 11,128.9
  including 208.6 209.3 0.7 266.00 319.0 270.25 20,269.0
LRGAG-22-031 Eagle 58.0 126.0 68.0 4.25 109.4 5.71 428.4
  including 78.0 113.9 35.9 7.83 184.9 10.29 771.8
  including 80.0 95.0 15.0 15.61 273.3 19.26 1,444.4
  including 84.0 86.0 2.0 46.80 272.5 50.43 3,782.5
LRGAG-22-032 Eagle 48.1 113.8 65.8 1.36 107.7 2.79 209.6
  including 85.8 113.8 28.1 2.96 216.6 5.85 439.0
  including 88.5 92.9 4.3 7.17 1,012.8 20.68 1,550.7
  including 88.5 89.1 0.6 25.00 3,020.0 65.27 4,895.0
LRGAG-22-041 Eagle 109.5 145.5 36.0 1.46 134.5 3.26 244.3
  including 134.0 143.5 9.5 4.55 389.9 9.75 731.1
  including 134.0 134.8 0.8 6.01 577.0 13.70 1,027.7
  also including 137.0 143.5 6.6 5.62 453.6 11.67 875.3
  including 141.0 142.2 1.2 17.10 1,345.0 35.03 2,627.5
LRGAG-22-113 Eagle 132.8 149.0 16.3 3.29 357.7 8.06 604.8
  including 133.8 135.6 1.8 20.05 2,000.0 46.72 3,503.7
  including 134.8 135.6 0.8 40.00 3,490.0 86.53 6,490.0
  and 160.5 190.0 29.5 2.32 57.8 3.09 231.7
  including 165.1 177.4 12.3 5.20 72.1 6.16 462.4
  including 169.0 170.0 1.0 21.10 170.0 23.37 1,752.5
LRGAG-21-018 Eagle 127.6 163.0 33.6 1.57 85.5 2.71 203.5
  including 156.9 159.3 2.4 10.51 436.5 16.33 1,225.0
  including 156.9 157.6 0.8 15.00 1,155.0 30.40 2,280.0
  and 177.9 178.6 0.7 36.20 1,500.0 56.20 4,215.0
LRGAG-22-030 Eagle 42.9 79.5 36.7 1.77 156.2 3.85 289.0
  including 51.9 61.0 9.1 6.00 553.3 13.38 1,003.2
  including 54.1 54.8 0.7 14.00 1,260.0 30.80 2,310.0
LRGAG-22-029 Eagle 74.0 94.6 20.6 1.52 217.5 4.42 331.3
  including 75.5 77.5 2.0 8.00 1,865.5 32.87 2,465.5
  including 75.5 76.5 1.0 14.15 3,520.0 61.08 4,581.3
LRGAG-21-007 Eagle 148.5 191.0 42.5 1.64 137.5 3.47 260.6
  including 188.6 190.2 1.6 6.83 1,269.5 23.76 1,781.8
Figure 3: Los Ricos District Overview. Source: GoGold Resources Inc.

Table 3: Drill Hole Locations  

Hole ID Easting Northing Elevation Azimuth Dip Length
LRGAG-22-116 610068 2328476 1277 50 -45 127
LRGAG-22-117 610067 2328475 1277 50 -70 146
LRGAG-22-118 610066 2328475 1277 0 -90 181
LRGAG-22-119 610050 2328304 1283 50 -63 256
LRGAG-22-120 610014 2328144 1319 50 -68 297
LRGAG-22-121 610141 2328156 1329 50 -56 234
LRGAG-22-122 609993 2328421 1259 50 -77 253
LRGAG-22-123 610141 2328185 1325 50 -60 173
LRGAG-22-124 610057 2328341 1282 50 -61 202
LRGAG-22-125 609956 2328624 1267 50 -78 210
LRGG-22-228 610432 2327584 1263 50 -53 270
LRGG-22-229 610243 2327712 1236 50 -56 164
LRGG-22-230 610337 2327788 1256 50 -60 190
LRGG-22-231 610312 2328038 1299 50 -44 77
LRGG-22-232 610384 2327771 1264 50 -45 150
LRGG-22-233 610396 2327552 1251 50 -55 305

 

 

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.

Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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