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GoGold Drills 1,320 g/t AgEq over 1.5m within 16.8m of 306 g/t AgEq, Extending Mineralized Zone 200m to East at Casados in Los Ricos North

Shares Outstanding: 265,821,467
Trading Symbols: TSX: GGD
OTCQX: GLGDF

HALIFAX, NS, April 21, 2021 /PRNewswire/ - GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the Company") is pleased to release the results of 8 new drill holes from the Casados deposit in the Los Ricos North project.  Hole LRGCS-21-025 intersected 1.5m of 1,320 g/t silver equivalent ("AgEq") included within 16.8m of 306 g/t AgEq.  See Table 1 for details including the breakdown of silver and gold values. 

"At Casados we have stepped out 200 metres along strike and have intercepted high grade mineralization of more than a kilo of silver equivalent," said Brad Langille, President and CEO.  "Again we see at Casados, like other areas of Los Ricos North, kilos of silver equivalent enveloped in broad zones of good grades, potentially bulk mineable.  These broad zones of strong mineralization help to build resource ounces quickly."

Table 1:  Drill Hole Intersections

Hole ID

Area

From

To

Length1

Au

Ag

AuEq2

AgEq2



(m)

(m)

(m)

(g/t)

(g/t)

(g/t)

(g/t)

LRGCS-21-012

Casados – Multi3

102.0

153.5

51.5

0.26

56.1

1.00

75.4


Casados Vein 1

102.0

120.7

18.7

0.54

88.5

1.72

129.0


including

115.1

120.0

5.0

1.71

280.4

5.45

409.0


Casados Vein 2

129.0

153.5

24.5

0.12

49.5

0.78

58.5


including

143.8

153.5

9.7

0.20

86.5

1.35

101.3

LRGCS-21-016

Casados Vein 1

99.7

123.0

23.4

0.69

139.7

2.55

191.5


including

117.0

118.0

1.0

4.94

820.3

15.87

1,190.8


Casados Vein 24

135.0

151.5

15.0

0.69

151.4

2.70

202.8


including

141.8

144.0

2.2

3.70

797.4

14.33

1,075.1

LRGCS-21-017

Casados – Multi3

152.7

201.9

49.2

0.23

51.7

0.92

68.8


Casados Vein 1

165.0

173.3

8.3

0.36

128.0

2.07

155.3


Casados Vein 2

183.0

201.9

18.9

0.37

62.7

1.21

90.7


including

188.4

190.7

2.3

0.77

213.3

3.61

270.8

LRGCS-21-019

Casados Vein 1

50.9

53.1

2.2

0.41

135.4

2.21

165.7


Casados Vein 2

113.0

114.4

1.5

0.83

325.2

5.17

387.7


including

113.7

114.4

0.8

1.59

620.4

9.86

739.6

LRGCS-21-022

Casados Vein 1

170.1

185.0

14.9

0.32

116.0

1.86

139.9


including

182.1

184.1

2.0

1.40

663.7

10.24

768.3

LRGCS-21-023

Casados Vein 1

91.5

93.0

1.5

1.89

0.2

1.89

141.9

LRGCS-21-024

Casados Vein 15

108.0

131.1

21.0

0.44

116.4

2.00

149.6


Including5

111.8

123.2

9.3

0.77

210.7

3.58

268.3


including

121.5

123.2

1.7

1.66

391.9

6.88

516.2


Casados Vein 2

152.1

164.0

12.0

0.37

115.5

1.91

143.4


including

157.1

160.3

3.2

1.11

355.3

5.85

438.7

LRGCS-21-025

Casados Vein 1

40.5

57.3

16.8

1.40

201.3

4.08

306.2


including

53.0

54.5

1.5

8.28

699.7

17.6

1,320.4



1.

Not true width

2.

AqEq converted using a silver to gold ratio of 75:1 at recoveries of 100%.

3.

Multi values include combined results from both Casados Vein 1 and Casados Vein 2

4.

Excludes 1.5m of historically mined void

5.

Excludes 2.1m of historically mined void

6.

Holes LRGCS-21-015 and LRGCS-21-018 were abandoned due to technical difficulties.

7.

Holes LRGCS-21-020 and LRGCS-21-021 are excluded due to insignificant mineralization.  These holes are available on the Company's website.

These are the third set of drill holes released on the Casados deposit in Los Ricos North, and these holes extended mineralization over 200 metres to the east from the previously released holes.  Mineralization is open both along strike and at depth on the target.

The Casados Veins strikes nearly E-W, dips 45o to the north and is hosted in andesitic tuffs and is exposed on surface for about 400 metres along strike.  In the 7 metres of old stope that is above the water level at the Casados mine, the vein shows as a zone of quartz stringers about a meter wide, but at other places it is more than 2 metres wide.  A zone of silicification up to 50 metres wide envelopes the vein and this resistant outcrop forms a steep ridge along the strike of the vein, particularly on the north or hanging wall side. 

Table 2: Drill Hole Locations

Hole ID

Easting

Northing

Elevation

Azimuth

Dip

Length

LRGCS-21-012

583487

2337809

661.0

185

-45

216.0

LRGCS-21-016

583510

2337792

670.0

180

-45

237.0

LRGCS-21-017

583404

2337835

685.0

180

-45

306.2

LRGCS-21-018

583763

2337662

700.0

180

-50

234.0

LRGCS-21-019

583695

2337689

690.0

180

-45

171.2

LRGCS-21-020

584096

2337605

868.0

180

-50

205.0

LRGCS-21-021

583969

2337657

790.0

180

-50

243.0

LRGCS-21-022

583350

2337855

719.0

180

-45

240.0

LRGCS-21-023

584138

2337621

865.0

180

-45

197.0

LRGCS-21-024

583510

2337792

670.0

180

-60

259.5

LRGCS-21-025

583720

2337687

705.0

180

-45

162.8

LRGCS-21-026

583705

2337734

741.0

180

-45

240.0

Figure 1: Plan View – La Trini to El Favor Area of Los Ricos North (CNW Group/GoGold Resources Inc.)

Figure 2: Long Section – Casados Deposit (CNW Group/GoGold Resources Inc.)

Figure 3: Long Section – Grade Thickness (GT) Equivalent – Casados Deposit (CNW Group/GoGold Resources Inc.)

Figure 4: Drilling – Casados Deposit (CNW Group/GoGold Resources Inc.)

Figure 5: Cross Section – Casados Holes LRGCS-21-0016 and LRGC-21-0024 (CNW Group/GoGold Resources Inc.)

VRIFY Slide Deck and 3D Presentation

VRIFY is a platform being used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS and Android apps.

Access the GoGold Company Profile on VRIFY at: https://vrify.com

The VRIFY Slide Deck and 3D Presentation for GoGold can be viewed at: https://vrify.com/explore/decks/9404 and on the Company's website at: www.gogoldresources.com.

Los Ricos District Exploration Projects
The Company's two exploration projects at its Los Ricos property are in Jalisco state, Mexico.  The Los Ricos South Project began in March 2019 and an initial resource was announced on July 29, 2020 which indicated a Measured & Indicated Mineral Resource of 63.7 million ounces AgEq grading 199 g/t AgEq contained in 10.0 million tonnes, and an Inferred Resource of 19.9 million ounces AgEq grading 190 g/t AgEq contained in 3.3 million tonnes.  An initial PEA on the project was announced on January 20, 2021 indicating an NPV5% of US$295M.

The Los Ricos North Project was launched in March 2020 and includes drilling at the El Favor, La Trini, Casados and El Orito targets.  During 2020, GoGold's exploration team identified over 100 targets on the Los Ricos North properties, demonstrating the significant exploration potential.  The Company plans to drill 10 of these targets as part of its 2021 drilling program which is planned to exceed 100,000 metres of drilling and will be one of the largest in Mexico.

Procedure, Quality Assurance / Quality Control and Data Verification 
The diamond drill core (HQ size) is geologically logged, photographed and marked for sampling. When the sample lengths are determined, the full core is sawn with a diamond blade core saw with one half of the core being bagged and tagged for assay. The remaining half portion is returned to the core trays for storage and/or for metallurgical test work. 

The sealed and tagged sample bags are transported to the ActLabs facility in Zacatecas, Mexico. ActLabs crushes the samples and prepares 200-300 gram pulp samples with ninety percent passing Tyler 150 mesh (106μm). The pulps are assayed for gold using a 50-gram charge by fire assay (Code 1A2-50) and over limits greater than 10 grams per tonne are re-assayed using a gravimetric finish (Code 1A3-50). Silver and multi-element analysis is completed using total digestion (Code 1F2 Total Digestion ICP). Over limits greater than 100 grams per tonne silver are re-assayed using a gravimetric finish (Code 8-Ag FA-GRAV Ag).

Quality assurance and quality control ("QA/QC") procedures monitor the chain-of-custody of the samples and includes the systematic insertion and monitoring of appropriate reference materials (certified standards, blanks and duplicates) into the sample strings. The results of the assaying of the QA/QC material included in each batch are tracked to ensure the integrity of the assay data.  All results stated in this announcement have passed GoGold's QA/QC protocols.

Mr. David Duncan, P. Geo. 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 the Los Ricos South and North projects, and future plans and objectives of GoGold, including the intention to undertake further exploration at Los Ricos North, and the prospect of further discoveries there, 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.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/gogold-drills-1-320-gt-ageq-over-1-5m-within-16-8m-of-306-gt-ageq-extending-mineralized-zone-200m-to-east-at-casados-in-los-ricos-north-301273342.html

SOURCE GoGold Resources Inc.

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