Drill hole LRGO-20-005 intersected 43.0m averaging 322.7 g/t AgEq consisting of 49.0 g/t Ag, 0.05 g/t Au, 0.45% Cu, 2.99% Pb and 4.69% Zn, including 14.3m of 537.8 g/t AgEq. Drill hole LRGO-20-002, 400m away from LRGO-20-005, intersected 63.4m of 171.0 g/t AgEq consisting of 75.8 g/t Ag, 0.06 g/t Au, 0.16% Cu, 3.00% Pb, and 0.14% Zn, including 6.7m of 685.9 g/t AgEq.
'We are really excited about this new discovery which is 1.2km to the west of the El Favor deposit. These are the first holes that have ever been drilled in this area of Los Ricos North. These strong results further strengthen our belief that Los Ricos North is a very large mineralized system,' said
The El Orito deposit is located about 1,200 meters to the west along strike from the El Favor deposit and continues westward for 1,000 meters. In the fall of 2020, geological mapping teams observed several areas of historical mine workings and found several outcrops of silver and gold bearing quartz veins within a 50m wide by 750m long zone of silicification and epithermal alteration. A nearby second zone of quartz veining was found within a 35m wide by 700m long zone of silicification which was about 300m to the south of and parallel to the first vein. Both zones are dipping steeply to the north between -70 to -75 degrees.
The known strike length of the El Orito -
The first three holes (LRGO-20-001, 002 and 003) were drilled from the same collar at dips of -45, -60 and -75 degrees to test the down dip continuity of the mineralization of the first deposit. Hole LRGO-20-004 was moved about 25m to the east and hole LRGO-20-005 was collared along strike about 400m to the west of holes 1, 2 and 3. Hole LRGO-20-006 was collared to test the second zone of alteration.
VRIFY Slide Deck and 3D Presentation
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Access the GoGold Company Profile on VRIFY at: https://vrify.com
The VRIFY Slide Deck and 3D Presentation for GoGold can be viewed at: https://vrify.com/explore/decks/9404 and on the Company's website at: www.gogoldresources.com.
Los Ricos District Exploration Projects
The Company's two exploration projects at its Los Ricos property are in
About
CAUTIONARY STATEMENT
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the '
This news release may contain 'forward-looking information' as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Los Ricos South and North projects, and future plans and objectives of GoGold, including the intention to undertake further exploration at Los Ricos North, constitute forward looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of GoGold and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the performance of the Parral project. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.
Important factors that could cause actual results to differ materially from GoGold's expectations include exploration and development risks associated with GoGold's projects, the failure to establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations of recovery rates, and global economic conditions. For additional information with respect to risk factors applicable to GoGold, reference should be made to GoGold's continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, GoGold's Annual Information Form. The forward-looking information contained in this release is made as of the date of this release.
Contact:
Tel: 416 855 0435
Email: steve@gogoldresources.com
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