GoGold Reports Quarterly Production at Parral of 375,745 Silver Equivalent Ounces
In This Article:
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.