GoGold Resources Begins Drill Program at Los RicosBy Lorenzo Núñez | Wed, 09/29/2021 - 17:14
GoGold Resources has released their results pertaining to drill holes at Mololoa within Los Ricos North project, located approximately one kilometer north of the El Favor deposit and may be an easterly extension of the Casados deposit in the state of Jalisco.
The Los Ricos project, was acquired by GoGold in 2019. Los Ricos is comprised of 42 concessions, covers over 22,000 hectares, and is home to several historical mining operations. It also includes the Los Ricos South and the Los Ricos North project, which are 25km apart.
The Los Ricos South project was launched in March 2019, and focuses on drilling a number of historical mines that include El Abra, El Troce, San Juan, and Rascadero. An initial resource was announced on July 29, 2020, which indicated a measured and indicated mineral resource of 63.7 million ounces grading 199 g/t AgEq contained in 10.0 million tons, as reported by a company’s press release. Meanwhile, Los Ricos North was launched at the beginning of the pandemic in March2020, and it includes over 100 targets identified by GoGold's exploration team. Ten of these targets are part of GoGold’s 2021 gold and silver drill program. One of the drilling holes intersected 1.0m of 1,956 g/t silver equivalent, within 6.1m of 526 g/t AgEq, in addition to additional holes reported by the company.
“These are the first holes drilled at Mololoa which show a vein structure with high grades of silver and gold that we believe will add additional ounces and grade to the upcoming initial resource at Los Ricos North. We encountered numerous old workings while drilling Mololoa and will attempt to drill below the level of the old workings, so we are able to see the full extent of the intact mineralized zone,” said Brad Langille, President and CEO of GoGold Resources.