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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 announced a production increase for Q4 2022, achieving 441,217 silver equivalent ounces, which includes 159,838 silver ounces, 2,399 gold ounces, and 222 tonnes of copper. This represents a 10% increase compared to the previous quarter. CEO Brad Langille highlighted the expertise of the operations team and expressed optimism for 2023, marking the ninth year of production at Parral and indicating significant development plans for Los Ricos. The company aims to enhance its portfolio of low-cost, high-margin projects in Mexico.
GoGold Resources Inc. (OTCQX: GLGDF) is optimistic about 2023, focusing on the development of its Los Ricos projects following significant advancements in 2022, including the acquisition of the Eagle concession. Targeted milestones for 2023 include aggressive drilling, updated Mineral Resource Estimates, pre-feasibility studies, and economic assessments. The Company reported a strong cash position of $73 million USD, enhancing its ability to fund upcoming initiatives. Positive drilling results from 2022 indicate potential for substantial underground mining operations, with considerable silver and gold grades.
GoGold Resources Inc. (TSX: GGD, OTCQX: GLGDF) announced its financial results for the year ended September 30, 2022, reporting revenues of $36 million from 1.7 million silver equivalent ounces sold. The company has a strong balance sheet with $73.3 million in cash and no debt. Key achievements include producing 1.8 million silver equivalent ounces and an adjusted cash cost of $13.35 per ounce. The company aims to further develop the Los Ricos project in 2023, expecting increased resources and a Preliminary Economic Assessment.
GoGold Resources Inc. announced positive results from drilling at the El Favor East deposit within the Los Ricos North property. Drill hole LRGF-22-140 intersected 0.7m of 2,529 g/t silver equivalent (AgEq) within 13.9m of 294 g/t AgEq. Another hole, LRGF-22-137, reported 61.5m of 165 g/t AgEq, including 24.3m at 350 g/t AgEq. These findings bolster confidence in the deposit and pave the way for a preliminary economic assessment anticipated in the first half of 2023.
GoGold Resources Inc. (OTCQX: GLGDF) announced promising drilling results from the Los Ricos South Main Deposit and the newly acquired Eagle concession. Highlights include hole LRGG-22-218 with a remarkable intercept of 7,093 g/t AgEq over 0.9m, part of a broader 15.0m at 828 g/t AgEq. The drilling results indicate the potential for bulk mineable high-grade deposits, enhancing the value of Los Ricos South. The Eagle concession, adjacent to the Main Deposit, further extends the mineral resource, with continued exploration work expected to increase the resource size.
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.
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