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GoGold Resources Inc. reports news on its silver and gold operations and project development in Mexico. The Canadian-based producer operates the Parral tailings mine in Chihuahua and holds the Los Ricos South and Los Ricos North exploration and development projects in Jalisco.
Recurring updates cover Parral production in silver equivalent ounces, sales of silver, gold, copper and zinc, revenue and operating cash flow, Los Ricos South development work, technical disclosures under NI 43-101, annual meeting results, and investor conference participation.
GoGold Resources has announced significant drilling results from the Casados deposit in its Los Ricos North project, revealing two new mineralized veins. The initial 9 diamond drill holes showed that Casados Vein 1 is mineralized over widths exceeding 20 meters, with some intervals reaching up to 56.5 meters at 171 g/t silver equivalent. The discovery is expected to contribute to a significant Mineral Resource Estimate in 2021. The company plans to continue drilling to further explore these promising finds.
GoGold Resources reported outstanding financial results for the quarter ending December 31, 2020, achieving record revenue of $14.1 million from the sale of 601,551 silver equivalent ounces. The company generated $5.9 million in cash flow from operations, with a net income of $4.2 million (or $0.016 per share). The Parral operation yielded $6.7 million in free cash flow, covering all exploration and administrative costs. With a cash balance of $56.4 million, GoGold is positioned to enhance shareholder value by accelerating developments at the Los Ricos projects.
GoGold Resources reports significant drill results from La Trini in the Los Ricos North Project. Drill hole LRGT-20-096 returned 11.4m of 101 g/t silver equivalent, including 0.8m of 1,233 g/t AgEq. The company has now released results from 96 holes, with a 100,000m drill program ongoing, indicating a robust mineralized system. The upcoming resource estimate aims to encompass La Trini and other areas like El Favor and Casados. GoGold's exploration potential remains significant in the Los Ricos district, with major drilling efforts expected to continue.
GoGold Resources Inc. (OTCQX:GLGDF, TSX:GGD) will present at the virtual Fall Investor Summit from November 16-18, 2020. This summit features 75 companies and over 300 investors, facilitating connection between smallcap and microcap firms and qualified investors. GoGold, a Canadian silver and gold producer with projects in Mexico, is led by a management team experienced in mine development. They aim to turn properties into profitable mines while leveraging extensive relationships and capital strategies.