GoGold Resources (TSX: GGD) this morning released the first results from exploration program at the Salomon-Favor target at the Los Ricos North project, located in Mexico. Highlights from the assays released include 41.7 meters of 168.4 grams per tonne of silver equivalent over 41.7 metres, including 11.0 meters of 528.6 grams per tonne silver equivalent.
A total of five drill holes saw their data released this morning from the Salomon-Favor target. Four stacked zones of wide mineralization were found to start from the surface. The company expects the results to be utilized for an initial resource estimate for the Los Ricos North project, which is expected to be complete by the second quarter of 2021.
GoGold currently has six drill rigs in operation at Los Ricos North, with the exploration program having commenced back in June 2020. Drilling has been split between the Salomon-Favor target, where three rigs are currently continuing exploration, and the La Trini target where three rigs are operational.
Sponsored · Altamira Gold Corp.
Earlier this year, the company released its resource estimate for the Los Ricos South project, reporting measured and indicated mineral resources of 63.7 million ounces of silver equivalent, grading 199 g/t silver equivalent in 10.0 million tonnes..
Full results released this morning can be found below.
| Hole ID | Area | From (m) | To (m) | Length (m) | Gold (g/t) | Silver (g/t) | Gold Equiv (g/t) | Silver Equiv (g/t) |
|---|---|---|---|---|---|---|---|---|
| LRGS-20-001 | Salomon | 2.6 | 22.5 | 19.9 | 0.18 | 52.4 | 0.88 | 65.9 |
| and | 45.0 | 55.4 | 10.4 | 0.18 | 50.5 | 0.85 | 63.8 | |
| and | 90.0 | 110.3 | 20.3 | 0.18 | 54.9 | 0.91 | 68.6 | |
| and | 223.5 | 237.5 | 14.0 | 0.24 | 280.4 | 3.98 | 298.2 | |
| including | 225.8 | 230.9 | 5.0 | 0.51 | 698.7 | 9.82 | 736.6 | |
| LRGF-20-001 | El Favor | 15.0 | 56.7 | 41.7 | 0.36 | 141.8 | 2.25 | 168.4 |
| including | 18.7 | 29.7 | 11.0 | 1.12 | 444.4 | 7.05 | 528.6 | |
| and | 131.3 | 147.0 | 15.7 | 0.14 | 48.1 | 0.79 | 58.9 | |
| LRGF-20-002 | El Favor | 0.0 | 18.0 | 18.0 | 0.16 | 64.2 | 1.01 | 76.0 |
| and | 29.7 | 71.0 | 41.3 | 0.07 | 16.5 | 0.29 | 21.9 | |
| including | 29.7 | 36.0 | 6.3 | 0.20 | 40.2 | 0.74 | 55.2 | |
| LRGF-20-003 | El Favor | 1.5 | 34.5 | 33.0 | 0.13 | 68.2 | 1.04 | 77.8 |
| including | 32.5 | 34.5 | 2.0 | 0.37 | 186.7 | 2.86 | 214.3 | |
| LRGF-20-004 | El Favor | 0.0 | 15.8 | 15.8 | 0.26 | 73.1 | 1.23 | 92.6 |
| including | 9.0 | 14.8 | 5.8 | 0.57 | 151.5 | 2.59 | 194.4 | |
| and3 | 23.0 | 70.5 | 41.1 | 0.24 | 74.6 | 1.24 | 92.7 | |
| including | 34.0 | 38.1 | 4.1 | 1.45 | 418.9 | 7.04 | 527.6 |
GoGold Resources last traded at $1.52 on the TSX.
Information for this briefing was found via Sedar and GoGold Resources. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
