GoGold Resources (TSX: GGD) this morning released drill results from the first drilling conducted on its new discovery at the Los Ricos North project. Referred to as El Orito, highlights from the new discovery include 43.0 metres of 322.7 g/t silver equivalent within hole LRGO-20-005.
A total of six holes were released this morning, with all holes said to have intersected significant zones of epithermal silver, gold, and base metals. The highlight hole itself intersected 49.0 g/t silver, 0.05 g/t gold, 0.45% copper, 2.99% lead and 4.69 zinc over 43.0 metres. Another highlight hole, LRGO-20-002, meanwhile intersected 63.4 metres of 171.0 g/t silver equivalent.
El Orito is located 1.2 kilometers from the firms El Favor deposit, with these drill results marking the first drilling that has been conducted on this area of the property. The deposit reportedly extends to the west for 1,000 metres. Mineralization was first discovered here last fall, when a team mapping the property discovered several silver and gold bearing quartz veins within a 50 metre by 750 metre zone.
| Hole ID | From | To | Length1 | Ag | Au | Cu | Pb | Zn | AgEq2 |
| (m) | (m) | (m) | (g/t) | (g/t) | (%) | (%) | (%) | (g/t) | |
| LRGO-20-001 | 158.5 | 189.6 | 31.1 | 34.6 | 0.11 | 0.03 | 0.61 | 0.08 | 62.6 |
| 166.5 | 171.1 | 4.6 | 108.5 | 0.56 | 0.05 | 1.79 | 0.02 | 199.2 | |
| LRGO-20-002 | 150.0 | 216.0 | 63.4 | 75.8 | 0.06 | 0.16 | 3.00 | 0.14 | 171.0 |
| 152.0 | 175.0 | 23.0 | 169.7 | 0.10 | 0.29 | 7.46 | 0.07 | 384.4 | |
| 153.8 | 159.1 | 5.3 | 267.0 | 0.23 | 0.22 | 11.47 | 0.07 | 578.6 | |
| 164.3 | 171.0 | 6.7 | 320.1 | 0.11 | 0.15 | 14.37 | 0.08 | 685.9 | |
| LRGO-20-003 | 206.4 | 268.9 | 62.6 | 12.7 | 0.02 | 0.08 | 0.65 | 2.12 | 107.4 |
| 207.3 | 224.0 | 16.8 | 28.4 | 0.04 | 0.21 | 2.04 | 3.12 | 203.5 | |
| 216.8 | 224.0 | 7.2 | 51.3 | 0.06 | 0.14 | 4.49 | 3.06 | 277.3 | |
| LRGO-20-004 | 213.1 | 264.3 | 51.2 | 15.9 | 0.04 | 0.07 | 0.64 | 2.07 | 110.0 |
| 216.4 | 226.9 | 10.5 | 35.5 | 0.09 | 0.16 | 0.82 | 2.08 | 146.4 | |
| 251.6 | 256.5 | 4.9 | 41.2 | 0.15 | 0.18 | 1.56 | 2.91 | 203.6 | |
| LRGO-20-005 | 177.8 | 225.5 | 43.0 | 49.0 | 0.05 | 0.45 | 2.98 | 4.69 | 322.7 |
| 196.1 | 210.4 | 14.3 | 84.7 | 0.11 | 0.83 | 4.78 | 7.57 | 537.8 | |
| LRGO-20-006 | 137.5 | 155.0 | 17.6 | 35.3 | 0.05 | 0.10 | 0.88 | 1.12 | 106.7 |
| 151.1 | 155.0 | 3.9 | 74.6 | 0.08 | 0.11 | 1.26 | 2.47 | 203.0 |
The company did not indicate whether further drilling is to occur at this target. However, it did indicate that the discover was part of a 100,000 metre drill campaign focused on ten new targets across the Los Ricos North property.
GoGold Resources last traded at $2.53 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.
One Response
Looks like a lead-zinc mine – with silver credits.. not the other way around. They probably should be reporting Zinc Equivalent…