• Resources
  • Blog
  • Journalists
  • Webcasts
  • Data Privacy
  • Français
  • my CNW 
    • Login
    • Register
  • Client Login 
    • Online Member Centre
    • Next Gen Communications Cloud
    • Cision Communications Cloud®
  • Sign Up
  • Send a Release
Cision Canada
  • News
  • Products
    • Overview
    • Cision Communications Cloud®
    • Monitoring
    • Distribution
    • Multimedia
    • Measurement & Analytics
    • IR
  • Contact
    • Become a Client
    • Request a Demo
    • Editorial Bureaus
    • Partnerships
    • General Enquiries
    • Media

 

When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
Advanced Search
    Advanced Search
  • News in Focus
      • Browse News Releases
      • All News Releases
      • All Public Company


      • News Releases Overview
      • Multimedia Gallery
      • All Multimedia
      • All Photos
      • All Videos


      • Multimedia Gallery Overview
      • Trending Topics
      • All Trending Topics


  • Business
      • Auto & Transportation
      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation


      • Auto & Transportation Overview
      • Business Technology
      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors


      • Business Technology Overview
      • Entertain­ment & Media
      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television


      • Entertain­ment & Media Overview
      • Financial Services & Investing
      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Stock Offering
      • Stock Split
      • Venture Capital


      • Financial Services & Investing Overview
      • General Business
      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News


      • General Business Overview
  • Science & Tech
      • Consumer Technology
      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications


      • Consumer Technology Overview
      • Energy & Natural Resources
      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities


      • Energy & Natural Resources Overview
      • Environ­ment
      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters


      • Environ­ment Overview
      • Heavy Industry & Manufacturing
      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco


      • Heavy Industry & Manufacturing Overview
      • Telecomm­unications
      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications


      • Telecomm­unications Overview
  • Lifestyle & Health
      • Consumer Products & Retail
      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys


      • Consumer Products & Retail Overview
      • Entertain­ment & Media
      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television


      • Entertain­ment & Media Overview
      • Health
      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine


      • Health Overview
      • Sports
      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories


      • Sports Overview
      • Travel
      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry


      • Travel Overview
  • Policy & Public Interest
      • Policy & Public Interest
      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Canadian Federal Government
      • Canadian Municipal Government
      • Canadian Provincial Government
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy


      • Policy & Public Interest Overview
  • People & Culture
      • People & Culture
      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women


      • People & Culture Overview
  • Overview
  • Cision Communications Cloud®
  • Monitoring
  • Distribution
  • Multimedia
  • Measurement & Analytics
  • IR
  • Become a Client
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • General Enquiries
  • Media
  • Cision Canada
  • Send a Release
  • FR
    • Phone

    • 877-269-7890 from 8 AM - 10 PM ET

    • ALL CONTACT INFO

      Contact Cision

      877-269-7890
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Business
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Policy & Public Interest
    • Policy & Public Interest
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • People & Culture
    • People & Culture
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Send a Release
  • Sign Up
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • GDPR
  • Overview
  • Cision Communications Cloud®
  • Monitoring
  • Distribution
  • Multimedia
  • Measurement & Analytics
  • IR
  • Send a Release
  • Sign Up
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • GDPR
  • Become a Client
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • General Enquiries
  • Media
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • GDPR

GoGold Resources Adds to Property Position at the San Diego Project, Durango, Mexico


News provided by

GOGOLD RESOURCES INC.

Aug 16, 2012, 13:32 ET

Share this article

Share this article


/NOT FOR DISTRIBUTION TO US WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/

Trading Symbol: TSX-V: GGD
Shares Issued:  128,288,331

 

HALIFAX, Aug. 16, 2012 /CNW/ - Terry Coughlan, President and CEO of GoGold Resources Inc. ("GoGold" or the "Company") (TSXV: GGD), is pleased to announce that it has completed an option agreement through its wholly owned Mexican subsidiary Minera Durango Dorado S.A. De C.V. ("MDD"), to acquire a 100% interest in a 2,000 hectare portion of the San Diego project known as Mina La Blanca. The area includes a past producing silver mine and has never been drilled (see details below). The Company has also purchased a 100 percent interest in two (2) additional gold and silver mining concession (the "Claims") from Mexican prospectors for total cash consideration of US$90,000. These additional concessions further increase the San Diego Project land area to 71,495 hectares.

Mina La Blanca
Prior to agreeing concluding the option to acquire Mina La Blanca, the Company conducted preliminary sampling, mapping and recognisance work. Fifty-one grab samples were collected on surface and underground in numerous veins, workings and dumps within an approximate 500 square meter area and indications of several 2 - 8 meter wide high grade silver structures have been identified.

This work returned grades as high as 0.82 grams gold per tonne (g/t) and 2,615.9 grams silver per tonne (g/t). Company geologists believe this initial mapping and sampling has shown that the mineralization encountered may be related to an intrusive body mapped in the vicinity of the high grade veins. Our geological team is on site fast tracking further evaluation of the project.

The highlights of the recognisance sampling are detailed in the table below:

Selected assay results:

Sample Name Au g/t Ag g/t Geology
RJC-19 0.01 82.00 stockwork  in andesite
RJC-21 0.02 220.23 dump grab sample
RJC-24 0.09 271.53 stockwork  in andesite
RJC-26 0.04 250.13 quartz vein
RJC-27 0.09 202.33 quartz vein
RJC-28 0.21 176.30 stockwork  in andesite
RJC-29 0.13 171.16 stockwork  in andesite
RJC-30 0.17 307.24 dump grab sample
RJC-31 0.28 759.76 dump grab sample
RJC-32 0.12 422.90 quartz vein
RJC-33 0.86 316.37 quartz vein
RJC-50 0.20 155.20 quartz vein
RJC-62 0.02 98.00 quartz vein
RJC-63 0.01 237.46 altered andesite
RJC-64 0.03 381.75 dump grab sample
RJC-65 0.03 169.13 quartz vein
RJC-66 0.09 2615.90 quartz vein
RJC-67 0.14 1583.39 quartz vein
RJC-68 0.03 361.45 quartz vein
RJC-69 0.03 183.39 quartz vein
RJC-70 0.12 876.06 quartz vein
RJC-71 0.82 233.36 dump grab sample
RJC-72 0.01 210.33 quartz vein
RJC-73 0.01 210.43 quartz vein
RJC-74 0.04 339.74 altered andesite
RJC-75 0.01 356.55 quartz vein
  1. Metallurgical recoveries and net smelter returns are assumed to be 100%
  2. The other 25 samples collected and not shown were low grade and intermingled with the samples above

Under the terms of the option agreement for the Mina La Blanca area, GoGold will have an option to acquire a 100% interest in the property in exchange for the following:

i.   An initial payment of US$150,000,
ii.   a total of six additional US$100,000 payments on September 1, 2012, October 1, 2012, November 1, 2012, February 1, 2013, May 1, 2013 and August 1, 2013; and,
iii.   an NSR of 1% if the price of an ounce of gold is under US$1,000, 1.5% if the price is between US$1,000-$1,500 and 2% if the price is over US$1,500.

The Claims
The Claims consist of two new concessions; the Real de Guadalupe which measures 453.5 hectares and La Ardilla which measures 53.5 hectares. The agreement to acquire the Real de Guadalupe concession provides that the Company pay a minimum advance royalty of US$8,000 per annum starting in year three and ending in year eight. The total royalty is based on a payment of US$4.00 per ounce of gold equivalent NI 43-101 compliant mineable reserves ("Reserves"). Any minimum royalty payments will be applied against any final royalty payments due. MDD has agreed to pay the optionors of the Claims an ongoing royalty of US$4.00 per ounce of any future increase in Reserves. The La Ardilla concession has no further commitment.

Sample Protocol and Trench Techniques
Samples were collected on surface and underground with hammer and chisel along a continuous line of exposed rock. Fragments or chip samples from a channel of approximately 5cm or less in depth were collected in numbered plastic sample bags, and approximately 2 to 3 kg of rock was collected. Sample intervals are marked on the rock with spray paint along with the sample number. All samples collected by GoGold were supervised by Ramon Luna P.Geo. These samples were bagged, tagged and sealed at the sample site and delivered to ACTLAB in Zacatecas, Mexico.

All samples were processed by method (A.A) Atomic Absorption FAG323 and ICP14. All samples were first assayed by method FAG323 for gold and silver which has detection limits for Au of 3 g/t and Ag 5 g/t. A 30g sample was assayed by Fire Assay with an AAS finish for Au and a gravimetric finish for Ag.

Mr. Ramon Luna P.Geo is the qualified person as defined by National Instrument 43-101 and is responsible for the geological information contained in this release.

CAUTIONARY STATEMENT:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This News Release includes certain "forward-looking statements".  All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of GoGold, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.  Important factors that could cause actual results to differ materially from GoGold's expectations are exploration risks detailed herein and from time to time in the filings made by GoGold with securities regulators.

SOURCE: GOGOLD RESOURCES INC.

For further information:

Terence F. Coughlan, President and CEO,
Or,
Sean Tufford, Vice President, Corporate Development
GoGold Resources Inc.,
T: 902 482-1998
F: 902 442-1898

Email : [email protected]
Or visit : www.gogoldresources.com

Modal title

Organization Profile

GoGold Resources Inc.

    Also from this source

  • GoGold Drills 2,245 g/t AgEq over 2.3m and 70.5m of 115 g/t AgEq...

  • GoGold Announces Filing of PEA Technical Report for Los Ricos...

  • GoGold Announces New Discovery at Casados in Los Ricos North...

    Contact Cision

  • 877-269-7890
    from 8 AM - 10 PM ET

    • Become a Client
    • Request a Demo
    • Editorial Bureaus
    • Partnerships
    • General Enquiries
    • Media
    • Worldwide Offices

    Products

  • Cision Communications Cloud®
  • Media Monitoring
  • Content Distribution
  • Multimedia Distribution
  • Measurement & Analytics
  • Investor Relations

    About

  • About Cision Canada
  • About Cision
  • Media Partners
  • Careers

    My Services

  • All News Releases
  • Online Member Centre
  • Next Gen Communications Cloud
  • Cision Communications Cloud®
  • my CNW

Contact Cision


Products


About


My Services
  • All News Releases
  • Online Member Centre
  • Next Gen Communications Cloud
  • Cision Communications Cloud
  • my CNW
877-269-7890
from 8 AM - 10 PM ET
  • Terms of Use
  • Information Security Policy
  • Site Map
  • Cookie Settings
  • Accessibility Statement
Copyright © 2021 CNW Group Ltd. All Rights Reserved. A Cision company.