- GoGold Resources (TSX:GGD) has posted results from the Los Ricos property in Jalisco, Mexico
- Historic gold property hasn’t had a working mine on it since the 1930s
- Results include 18 metres of 255 g/t silver equivalent and 3.39 g/t gold equivalent.
- Also included a 9.6m section of 370 g/t silver equivalent and 4.93 g/t gold equivalent.
- GoGold Resources (GGD) is up 16.67 per cent with a share price of C$0.49 and market cap of $108 million
GoGold Resources (TSX:GGD) has posted its assay results from the Los Ricos district project in Jalisco, Mexico.
The company acquired the property in March of 2019, and has been conducting an extensive drilling program ever since.
The historic gold property has not had a working mine on site since the 1930s, when the company that owned the site was wiped out in the stock market crash of that year.
Highlights from the assay results showed good mineralisation and g/t within the main mineralised zone, all at relatively shallow depth.
Assay results at the site from drill hole 117 at the main mineralised zone intersected a vein from 3 metres down to 21.8 metres down.
The vein averaged 255 g/t silver equivalent and 3.39 g/t gold equivalent.
Drill hole 115, also located on the main area of the project, intersected 19.5m of 199 g/t silver equivalent and 2.65 g/t of gold equivalent.
Included in that result was a 9.6m section of 370 g/t silver equivalent and 4.93 g/t gold equivalent.
CEO and President of GoGold, Brad Langille, said 6 drilling rigs would continue work at the site.
“At the Los Ricos North Project we continue with the groundwork preparing for an upcoming drill campaign, which we anticipate commencing after the Easter break.
“We continue to monitor the COVID-19 developments in Mexico and have implemented additional safety procedures at both Los Ricos and Parral,” he said.
It was not all smooth sailing during the program.
One of the drill rigs became stuck in the hanging wall section of the main area, and the drill hole had to be abandoned.
GoGold Resources (GGD) is up 16.67 per cent with a share price of C$0.49 at 11:36am EST