GoGold Resources Inc. (GGD:TSX) announced in a news release the assay results from holes drilled at Los Ricos in Jalisco, Mexico.
The company noted that three new diamond drill holes at the Los Ricos Main area showed wide intervals of gold-silver mineralization in the Los Ricos vein near surface.
For example, drill hole LRGG-19-028 intersected the Los Ricos vein from 34.5–62 meters (34.5–62m) and averaged 2.99 grams per ton gold equivalent (2.99 g/t Au eq), consisting of 1.21 g/t gold and 133.5 g/t silver, over 27.5m. This included an 11m interval averaging 6.85 g/t Au eq, composed of 2.93 g/t gold and 293.9 g/t silver.
Additionally, GoGold drilled seven core holes from three pads on the high-priority Cerro Colorado target, which is about 1500m to the southeast of the Main area. This stepout drilling 1.5 kilometers (1.5 km) along strike demonstrated continuation of the near-surface mineralization at Cerro Colorado, the company noted.
Specifically, hole LRGC-19-001, drilled on the first pad, about 1,400m to the south of the Los Ricos mine, encountered 3.9m averaging 3.95 g/t Au eq (or 1.59 g/t gold and 177.3 g/t silver), from 23.3–27.2m. After intersecting a fault zone between 9m and 23.3m, the hole immediately entered the Cerro Colorado vein.
Hole LRGC-19-002, drilled on the second pad, about 300m southeast of fence 1 along the strike of the Cerro Colorado vein, intersected 3.5m averaging 4.47 g/t Au eq (or 3.27 g/t gold and 90.4 g/t silver) from 0–3.5m.
"Our first exploration holes are showing the mineralization along the Cerro Colorado quartz vein system has good grades over a strike length of at least 500m," said President and CEO Brad Langille in the release. "The next phase of our work will be to continue testing the target to locate a high-grade ore shoot in the zone similar to the ones mined at Los Ricos."
GoGold also has started stepout drilling to the northwest of the Main zone, hoping to expand the known 3.2 km mineralized zone.
[NLINSERT]Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
