Shares
Outstanding:
296,097,011
Trading
Symbols:
TSX: GGD
OTCQX: GLGDF
HALIFAX,
NS, Jan. 11, 2023 /PRNewswire/ - GoGold
Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the
Company") is pleased to report production for the quarter
ending December 31, 2022 of 441,217
silver equivalent ounces, consisting of 159,838 silver ounces,
2,399 gold ounces, and 222 tonnes of copper. This represents an
increase of 10% in silver equivalent production from the quarter
ended September 30, 2022.
"In 2023, we are entering our ninth year of production at
Parral. Our operations team have proven their ability in delivering
a consistent, safe, environmentally friendly operation. This
expertise will be invaluable as we advance development at Los Ricos
towards the ultimate goal of production," said Brad Langille, President and CEO. "2023 will
truly be a transformative year for GoGold."
Table 1: Quarterly Production Summary
|
Quarter
Ended
|
Sep
2021
|
Dec
2021
|
Mar
2022
|
Jun
2022
|
Sep
2022
|
Dec
2022
|
|
Silver Production
(oz)
|
221,202
|
195,678
|
186,655
|
213,495
|
145,944
|
159,838
|
|
Gold Production
(oz)
|
3,437
|
2,558
|
2,791
|
3,081
|
2,278
|
2,399
|
|
Copper Production
(tonnes)
|
138
|
123
|
125
|
98
|
124
|
222
|
|
Silver Equivalent
Production (oz)1
|
526,044
|
444,071
|
455,991
|
509,796
|
400,467
|
441,217
|
|
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: Sep 2021 – 73, Dec 2021 –
77, Mar 2022 – 77, June 2022 – 83, Sep 2022 – 90, Dec 2022 –
82. The copper:silver ratios were: Sep 2021 – 383, Dec 2021 –
417, Mar 2022 – 411, June 2022 – 415, Sep 2022 – 398, Dec 2022 –
377.
|
|
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.
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
production and cash flows of the Parral tailings mine, the ability
of GoGold to self fund its ongoing exploration and administrative
costs, future operating margins, future production and processing,
and 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 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.
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SOURCE GoGold Resources Inc.
