Halifax, NS – GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) (“GoGold”, “the Company”) is pleased to report that the previously announced SART project has been successfully installed and commissioned at its Parral Tailings facility located in Chihuahua, Mexico. The SART plant is providing important economic and technical benefits to the Parral facility. The main economic drivers are the recovery of a high-grade saleable copper sulfide product, the re-generation of cyanide, which is the largest single operating cost at Parral, and improve the leaching efficiency of the heap.
“Our team at Parral has successfully adapted agglomerated heap leaching to old mined waste at Parral, and the SART is a further optimization of this innovation. The operation produces low cost gold and silver ounces while providing environmental remediation for the town of Parral. We see this expertise which we’ve developed over the last 6 years of operation as a real asset to the Company that may be applicable to the millions of tonnes of mined waste in Mexico and beyond,” said Brad Langille, President and CEO.
The commissioning phase began late January, and steady production was reached early March. The plant is currently operating as intended producing copper sulfide precipitate and re-generating cyanide. This has reduced the need for purchased cyanide by more than 20%, or approximately $200,000 in the month of March. The revenue attributed to the copper sulfide precipitate is offsetting the costs of operation of the SART plant.
The company contracted BQE Water of Vancouver, BC to design, construct and commission the plant, with local suppliers fabricating major components. BQE is a world leader in the installation and operation of SART plants.
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 project in the state of Chihuahua and has the Los Ricos exploration project 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.
For further information please contact:
T: 416 855 0435
E: [email protected]
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 Parral tailings project, the Los Ricos project, 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.
Disclaimer: This GoGold Resources Inc. (“GoGold”) website may include certain information that may be deemed “forward-looking information”. All information, other than information of historical fact, that address resource potential, exploration drilling, mining activities and events or developments that the Corporation expects, are forward-looking information. Although the Corporation believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information.
Factors that could cause actual results to differ materially from those in forward-looking information include market prices, mining and exploration results, continued availability of capital and financing and general economic, market or business conditions. GoGold does not assume any obligation to update such information, except as required by applicable law.
Mr. Terence F. Coughlan, P.Geo is the qualified person as defined by National Instrument 43-101 and has reviewed and is responsible for the preparation of this information. Mr. David Duncan, P.Geo is the qualified person as defined by National Instrument 43-101 and is responsible for the resource numbers presented in the Parral Tailings Project section of the site.