GoGold Resources Inc. released the results of 8 drill holes from the El Favor East deposit within Los Ricos North property. Hole LRGF-22-147 intersected 1.2m of 4,209 g/t silver equivalent contained within 19.9m of 436 g/t AgEq. In early 2022, the exploration team began a systematic stepout drilling program to test the eastern strike extension of the El Favor deposit in the area between Discovery Hole 48 and the underground workings at the Constancia Mine.

This area is known as the El Favor East zone, and the mapping and drilling program has extended the presence of mineralization 900m to the east of hole 48 (El Favor East zone discovery hole). To date, approximately 800m of El Favor East has been drilled showing the strong mineralization. The drill holes in this release were not included in the initial Mineral Resource Estimate for Los Ricos North released on December 7, 2021, hole LRGF-21-094 was the final drill hole included in that resource.

El Favor is located approximately 800 meters along strike to the east of the El Orito deposit. The combined systems cover approximately 2.9km in mineralized strike length over a 3.7km distance. At El Orito, wide zones of precious and base metal mineralization were cut by drill holes at El Orito at elevations between 600 to 900m.

The drill holes at El Favor have cut primarily silver-gold mineralization with trace to minor amounts of base metals at a higher elevation in the system, between 1,050m to 1,400m, compared to the semi-massive to massive base metal sulphide mineralization seen deeper in the El Orito deposit. Los Ricos District Exploration Projects: The Company's two exploration projects at its Los Ricos Property are in Jalisco state, Mexico. The Los Ricos South Project began in March 2019 and an initial Mineral Resource was announced on July 29, 2020 which disclosed a Measured & Indicated Mineral Resource of 63.7 million ounces AgEq grading 199 g/t AgEq contained in 10.0 million tonnes, and an Inferred Mineral Resource of 19.9 million ounces AgEq grading 190 g/t AgEq contained in 3.3 million tonnes.

An initial PEA on the project was announced on January 20, 2021 indicating an NPV5% of USD 295 Million. The Eagle Concession was acquired in October 2022 and is adjacent to the Main Area which contains the initial Mineral Resource. The Los Ricos North Project was launched in March 2020 and an initial Mineral Resource was announced on December 7, 2021, which disclosed an Indicated Mineral Resource of 87.8 million ounces AgEq grading 122 g/t AgEq contained in 22.3 million tonnes, and an Inferred Mineral Resource of 73.2 million ounces AgEq grading 111 g/t AgEq contained in 20.5 million tonnes.

The Company has a drill program for an additional 100,000 metres of drilling for 2022 in place.