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GoGold Resources Inc.
Summary
| Project: | Los Ricos | |
|---|---|---|
| Deposit: | Los Ricos | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 12/30/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-12-2019: GoGold Resources Inc. announces an Exploration/Drilling Update report for its Los Ricos deposit at the Los Ricos project. Technical report on property. P&E Mining Consultants Inc. was engaged to prepare a Qualified Person’s Review and National | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Richard H. Sutcliffe, Fred H. Brown (P&E Mining Consultants Inc.) | |
| ABSTRACT: | P&E Mining Consultants Inc. was engaged to prepare a Qualified Person’s Review and National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) Technical Report for the Los Ricos Project (“Project”) located in the State of Jalisco, Mexico for Minera Durango Dorado S.A. de C.V. (“MDD”) and GoGold Resources Inc. (“GoGold”). The Technical Report has an effective date of August 20, 2019. GoGold is a corporation trading on the Toronto Stock Exchange (TSX) under the symbol “GGD”. The Los Ricos Project is held by GoGold’s wholly owned Mexican subsidiary, Minera Durango Dorado S.A. de C.V. (“MDD”). The Project comprises 29 concessions covering 22,107.7 hectares around the historical underground Cinco Minas silver and gold mine in the Hostotipaquillo region of Jalisco State in Mexico. GoGold executed an Option Agreement for the Project on March 26, 2019 and subsequently on August 22, 2019, GoGold acquired a 100% ownership of the 29 concessions and a 2% NSR from private owners through the Concession Agreement. Between 1914 and 1930, the Cinco Minas Mining Company produced 33.3 million ounces of silver (33.3 Moz Ag), 233.5 thousand ounces of gold (233.5 koz Au) from 2.45 million short tons from underground workings along the Los Ricos Vein. The vein system strikes northwest– southeast for a distance of 3,500 m on the Property, dips approximately 65° to the west, and varies from 5 to 30 m in width. Historical mining operations on the vein extended for a length of 450 m along strike and extended from surface down dip for a distance of 850 m. The operators worked only the richest sections of the vein in stopes 1 to 5 m wide. Stopes were backfilled with development waste consisting of “low grade quartz vein material”. | |
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