Shares Outstanding: 295,176,806
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX, NS, April 6, 2022 /CNW/ - GoGold Resources
Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the
Company") is pleased to report production for the quarter
ending March 31, 2022 of 455,991
silver equivalent ounces, consisting of 186,655 silver ounces,
2,791 gold ounces, and 125 tonnes of copper.
"Parral continues to provide meaningful cash flow contributing
to the general and administrative costs and the Los Ricos
exploration budget," said Brad
Langille, President and CEO. "Parral continues to be a
steady source of cash flow while the Los Ricos project is the major
driver of shareholder value for the Company."
Table 1: Quarterly Production Summary
|
Quarter
Ended
|
Dec
2020
|
Mar
2021
|
Jun
2021
|
Sep
2021
|
Dec
2021
|
Mar
2022
|
|
Silver Production
(oz)
|
298,591
|
302,933
|
315,632
|
221,202
|
195,678
|
186,655
|
|
Gold Production
(oz)
|
3,632
|
3,208
|
3,170
|
3,437
|
2,558
|
2,791
|
|
Copper Production
(tonnes)
|
125
|
86
|
120
|
138
|
123
|
125
|
|
Silver Equivalent
Production (oz)1
|
614,149
|
551,207
|
575,302
|
526,044
|
444,071
|
455,991
|
|
1. "Silver
equivalent production" include gold ounces and copper tons produced
and converted to a silver equivalent based on a ratio of the
average market metal price for each period. The gold:silver
ratio for each of the periods presented was: Dec 2020 – 76,
Mar 2021 – 69, Jun 2021 – 68, Sep 2021 – 73, Dec 2021 – 77, Mar
2022 – 77. The copper: silver ratios were: Dec 2020 – 305, Mar
2021 – 320, June 2021 – 369, Sep 2021 – 383, Dec 2021 – 417, Mar
2022 – 411.
|
Mr. Robert Harris, P.Eng. is the
qualified person as defined by National Instrument 43-101 and is
responsible for the technical information of this release.
About GoGold Resources
GoGold Resources (TSX: GGD) is
a Canadian-based silver and gold producer focused on operating,
developing, exploring and acquiring high quality projects in
Mexico. The Company operates the Parral Tailings mine in the
state of Chihuahua and has the Los
Ricos South and Los Ricos North exploration projects in the state
of Jalisco. Headquartered in
Halifax, NS, GoGold is building a
portfolio of low cost, high margin projects. For more information
visit gogoldresources.com.
CAUTIONARY STATEMENT:
The securities described herein
have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act"), or
any state securities laws, and may not be offered or sold within
the United States or to, or for
the benefit of, U.S. persons (as defined in Regulation S under the
U.S. Securities Act) except in compliance with the registration
requirements of the U.S. Securities Act and applicable state
securities laws or pursuant to exemptions therefrom. This release
does not constitute an offer to sell or a solicitation of an offer
to buy of any of GoGold's securities in the United States.
This news release may contain "forward-looking information" as
defined in applicable Canadian securities legislation. All
statements other than statements of historical fact, included in
this release, including, without limitation, statements regarding
production and cash flows of the Parral tailings mine, the ability
of GoGold to self fund its ongoing exploration and administrative
costs, future operating margins, future production and processing,
and future plans and objectives of GoGold, constitute forward
looking information that involve various risks and uncertainties.
Forward-looking information is based on a number of factors and
assumptions which have been used to develop such information but
which may prove to be incorrect, including, but not limited to,
assumptions in connection with the continuance of GoGold and its
subsidiaries as a going concern, general economic and market
conditions, mineral prices, the accuracy of mineral resource
estimates, and the performance of the Parral project. There can be
no assurance that such information will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such forward-looking information.
Important factors that could cause actual results to differ
materially from GoGold's expectations include exploration and
development risks associated with GoGold's projects, the failure to
establish estimated mineral resources or mineral reserves,
volatility of commodity prices, variations of recovery rates, and
global economic conditions. For additional information with respect
to risk factors applicable to GoGold, reference should be made to
GoGold's continuous disclosure materials filed from time to time
with securities regulators, including, but not limited to, GoGold's
Annual Information Form. The forward-looking information contained
in this release is made as of the date of this release.
View original
content:https://www.prnewswire.com/news-releases/gogold-reports-quarterly-production-at-parral-of-455-991-silver-equivalent-ounces-301518746.html
SOURCE GoGold Resources Inc.
