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GoGold Launches Second Exploration Project in the Los Ricos District20.02.2020 | 15:00 Uhr | CNW
Shares Outstanding: 186,229,711 HALIFAX, Feb. 20, 2020 - GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold" or the "Company") is pleased to report that the Company has launched a second exploration project in the Los Ricos district called Monte del Favor ("North Project"). The Company has consolidated its land position along the 35 km trend with the acquisition of 5 new concessions in the district, bringing the total number of concessions to 35 covering 22,493 hectares. The new concessions come with a legacy database of 50 historical drill holes with grades as high as 2,109 g/t silver equivalent (6.4 g/t Au and 1,629 g/t Ag) over 24.4m with further highlight drill holes in the table below. This area is where the Company will begin a drill program in the next 45 days. The Company's technical team has been on the ground at the North Project mapping, trenching and sampling for the past 3 months and are currently preparing the first three drill targets. "We have a strategic plan for the Los Ricos district which includes consolidation of concessions and drilling for ounces. With the completion of the latest concession acquisitions and our financing, we will be adding drill rigs and accelerating our exploration to showcase the Los Ricos district to be one of the most prospective in Mexico" said Brad Langille, President and CEO. "All the elements are now in place for us to execute on creating more value at Los Ricos for our shareholders." The first target contains a number of historical underground workings, as well as small surface pits and trenches. Drilling on the concessions was completed most recently between 2005 to 2007, with 50 holes completed covering over 6,000 metres, of which the majority intercepted mineralization near surface. Highlights of the historical drill results are shown in Table 1 below. An updated concession map is available on the Company's website at https://gogoldresources.com/component/rsfiles/preview?path=diagrams%252FConcessionMap20200220.pdf
New Concessions About GoGold Resources CAUTIONARY STATEMENT: 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 timing and completion of the Offering, the intended use of proceeds from the Offering, and the 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 completion of the Offering, general economic and market conditions, mineral prices and the accuracy of mineral resource estimates. 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. SOURCE GoGold Resources Inc. Contact Steve Low, Corporate Development, GoGold Resources Inc., T: 416 855 0435, Email : steve@gogoldresources.com or visit : www.gogoldresources.com Dieser Artikel stammt von Rohstoff-Welt.de
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