Shares Outstanding:
328,612,319
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX,
NS, April 10, 2024 /PRNewswire/
- GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF)
("GoGold", "the Company") is pleased to report production
for the quarter ending March 31, 2024
of 375,745 silver equivalent ounces, consisting of 138,657 silver
ounces, 2,184 gold ounces, 93 tonnes of copper, and 92 tonnes of
zinc. With the SART Zinc circuit commissioning completed, this
marks the first quarter where Parral produced a saleable zinc
product.
"Now that the SART Zinc circuit's commissioning has been
completed and is operational, we are seeing an increase in the
leaching of gold and silver, in addition to the production of a
saleable zinc and copper product. We anticipate further increases
in silver and gold production over the coming months as the
extraction of zinc and copper from the heap leach solution improves
the precious metal leachability in the heap," Brad Langille, President and CEO stated. "At
Los Ricos South, we continue to advance our definitive
feasibility study, which we are anticipating completion this
summer. With the gains realized from the SART plant at Parral,
along with the significant metal price increase, Parral, as
planned, is becoming a contributor to the future funding of the Los
Ricos South project."
Table 1: Quarterly Production Summary
|
Quarter
Ended
|
Dec
2022
|
Mar
2023
|
Jun
2023
|
Sep
2023
|
Dec
2023
|
Mar
2024
|
|
Silver Production
(oz)
|
159,838
|
173,717
|
203,894
|
169,443
|
109,016
|
138,657
|
|
Gold Production
(oz)
|
2,399
|
2,016
|
1,512
|
1,106
|
1,848
|
2,184
|
|
Copper Production
(tonnes)
|
222
|
143
|
135
|
115
|
95
|
93
|
|
Zinc Production
(tonnes)
|
-
|
-
|
-
|
-
|
-
|
92
|
|
Silver Equivalent
Production (oz)1
|
441,217
|
400,145
|
375,112
|
300,789
|
300,260
|
375,745
|
|
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 2022 – 82, Mar 2023 – 84, Jun
2023 – 82, Sep 2023 – 83, Dec 2023 – 85, Mar 2024 – 93. The
copper:silver ratios were: Dec 2022 – 377, Mar 2023 – 399, Jun 2023
– 352, Sep 2023 – 356, Dec 2023 – 356, Mar 2024 – 365. The
zinc:silver ratios were: Mar 2024 – 104.
|
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 related
to Parral.
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
the Parral tailings project, the Los Ricos project, 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 the 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.
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SOURCE GoGold Resources Inc.
