Gogold Resources Stock Price, News & Analysis

GoGold Resources Inc. announced promising drilling results from the Los Ricos South property and newly acquired Eagle concession. Notable highlights include hole LRGG-22-209, which intercepted 11,103 g/t AgEq over 1.0m, part of a wider 33.2m interval averaging 513 g/t AgEq. The company aims to enhance the value of the Los Ricos South project through a focused drilling strategy that targets very high-grade materials for potential underground mining. Los Ricos South currently contains an estimated 63.7 million ounces AgEq in mineral resources.

GoGold Resources announced exceptional drilling results from the newly acquired Eagle concession in the Los Ricos South property. Key highlights include a significant intercept of 3,047 g/t AgEq over 11.5m, part of a wider 110.6m interval averaging 388 g/t AgEq. Drilling continues to show promising high-grade mineralization, indicating potential for further exploration. The Eagle concession extends the Main Deposit and further connects with the Jamaica concession, enhancing the overall mineral resource potential of the area.

GoGold Resources is pleased to announce the acquisition of the Eagle concession, extending the Main Deposit at Los Ricos South. This 1,107-hectare property features significant high-grade silver intercepts, including a notable 2,260 g/t AgEq over 11.9m. The drilling results align with geophysical targets, enhancing the economic potential of the Los Ricos South project. The acquisition costs $2.1 million over four years and connects all concessions for improved efficiency. These developments are expected to bolster resource estimates and overall project value.

GoGold Resources Inc. reported a production of 1,810,326 silver equivalent ounces for the fiscal year ending September 30, 2022, including 741,772 silver ounces, 10,708 gold ounces, and 469 tonnes of copper. The company also recovered $11M USD related to VAT from the Mexican government. Despite facing production challenges due to severe rainfall affecting their Parral operation, GoGold maintains a robust balance sheet and looks forward to sustainable production for seven more years.

GoGold Resources Inc. announced significant drill results from the El Nayar and Gran Cabrera areas within the Los Ricos North property. Notably, El Nayar yielded an impressive 2,192 g/t AgEq over 1.3m, while Gran Cabrera reported 905 g/t AgEq over 1.6m. These results from 6 and 15 drill holes respectively signify potential for future resource development. The company has shifted drilling efforts to Los Ricos South, anticipating growth opportunities. Despite encountering historical mining voids, the exploration program aims to identify high-grade areas yet to be mined.

GoGold Resources announced promising drill results from the El Favor East deposit in the Los Ricos North property. Highlights include Hole LRGF-22-136, which intersected 1.1m of 1,625 g/t silver equivalent (AgEq) within 47.6m of 147 g/t AgEq, and Hole LRGF-22-124, yielding 0.9m of 1,835 g/t AgEq within 22.0m of 134 g/t AgEq. These results indicate strong mineralization and potential for both open pit and underground mining. The exploration team has extended mineralization by 900m, showcasing the significant bulk tonnage and high-grade portions of this zone.

GoGold Resources (OTCQX: GLGDF) reported its Q3 2022 financial results, with revenues of $10.4 million from the sale of 512,670 silver equivalent ounces. The realized price per ounce stood at $20.26. Despite lower silver prices, Parral generated $3.7 million in free cash flow. Total cash at quarter end was $73.8 million. The company's focus remains on advancing the Los Ricos project with ongoing drilling and engineering studies. However, production was down 15% from the previous quarter due to a transition in operational zones.

GoGold Resources reported production for the quarter ending June 30, 2022, totaling 509,796 silver equivalent ounces. This comprised 213,495 silver ounces, 3,081 gold ounces, and 98 tonnes of copper. The CEO noted that production levels are stabilizing, contributing positively to cash flow and supporting general administrative costs as well as exploration expenditures at Los Ricos. The company's ongoing focus is on operating and expanding its existing projects in Mexico.