GoGold Reports 36% Rise in Production at Parral in Chihuahua, Mexico

(Editors at Energy Analytics Institute, 8.Jan.2025) — GoGold Resources Inc. reported production for the quarter ending 31 Dec. 2024 of 551,337 silver equivalent ounces, consisting of 226,343 silver ounces, 3,213 gold ounces, 121 tonnes of copper, and 161 tonnes of zinc, the company announced 8 Jan. 2025 in an official statement

“Parral’s SART Zinc circuit, which was completed in 2024, has exceeded expectations on both base metal production and has increased the leachability of gold and silver in the heap as well, which is driving the 36% increase in production which we saw this quarter,” GoGold president and CEO Brad Langille said in the statement.

Figure 1: Quarterly Production Summary (CNW Group/GoGold Resources Inc.)

“We expect the benefits of this optimization to continue through 2025. In the quarter, our cash balance increased from $72M on 30 Sep. 2024to $76M at 31 Dec. 2024. We believe Parral will prove to be a significant source of additional capital as we embark on anticipated construction of Los Ricos South. In 2025, we see the following key milestones adding significant shareholder value:

Parral significantly contributing to the growth in our cash balance leading up to and during the anticipated construction at Los Ricos South;
Release of Los Ricos South’s Definitive Feasibility Study (DFS) expected imminently;
Our expectation is that we will receive a positive outcome on our permit application for our underground mine at Los Ricos South by the end of March 2025;
Enter into definitive agreement on project financing for balance of funds required for construction of Los Ricos South, discussions with prospective lenders are positive and are in advanced stages;
Anticipate a definitive positive construction decision of Los Ricos South after DFS, permits, and financing in place;
Continue with Los Ricos South near mine exploration, targeting additional growth in resources during the anticipated construction phase of the mine;
Upgrade the Los Ricos North project with more drilling, advancing engineering and technical reports, with the ultimate objective of proceeding to the mine permitting stage.”

Parral project in Chihuahua

The project is located within the town limits of Hidalgo del Parral, in the State of Chihuahua, Mexico. The town has a population of approximately 100,000 and can be easily accessed on a well‐maintained paved highway from the city of Chihuahua, according to details on GoGold’s website.

There is also an air strip at Parral which can accommodate light aircraft. Parral is situated at an elevation of 1620m and has an altitude‐moderated semi‐arid climate.

Parral and the surrounding area is well serviced with numerous hotels, restaurants and other services and has a long tradition of mining. There is an ample supply of skilled personnel, equipment suppliers and contractors sufficient for the project.

Potential for electrical power is available from the local grid and water is available from the local water commission. Telephone and cell coverage are excellent as is access to high‐speed internet.

GoGold’s Parral operation is an agglomerated heap leach facility which is processing historic tailings which are located in the city of Parral. The tailings are loaded and trucked approximately 11km out of the city, agglomerated, and stacked on a heap leach pad where a solution is applied, and the pregnant solution is processed through a Merril Crowe facility which produces saleable silver, gold, and copper at a low cost. In addition to producing silver and gold at a low cost, the land currently occupied by the tailings are remediated and reclaimed for the city of Parral.

____________________