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GoGold closes C$28M offering for Mexican projects
Los Ricos. Image from GoGold.
Halifax-based GoGold Silver and Gold (TSX: GGD) has closed a bought deal financing worth C$28.8 million to support work at its Los Ricos North and South projects in Jalisco state, Mexico.
The original offering was for 10 million common shares at a price of C$2.50 each for gross proceeds of C$25 million. The underwriters took up an overallotment of 1.5 million shares at the same price for an additional C$3.75 million.
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GoGold completed a preliminary economic assessment in January 2021 for Los Ricos South outlining both pit-constrained and out-of-pit resources. The total measured and indicated resources are 10 million tonnes at 0.91 g/t gold and 119 g/t silver. The inferred portion is 3 million tonnes at 0.99 g/t gold and 112 g/t silver. Almost all (98%) of the M&I material is within the pit.
GoGold closes $28M offering for Mexican projects May 10, 2021
Commodities
Halifax-based
GoGold Silver and Gold (TSX: GGD) has closed a bought deal financing worth $28.8 million to support work at its Los Ricos North and South projects in Jalisco state, Mexico.
The original offering was for 10 million common shares at a price of $2.50 each for gross proceeds of $25 million. The underwriters took up an overallotment of 1.5 million shares at the same price for an additional $3.75 million.
GoGold completed a preliminary economic assessment in January 2021 for Los Ricos South outlining both pit-constrained and out-of-pit resources. The total measured and indicated resources are 10 million tonnes at 0.91 g/t gold and 119 g/t silver. The inferred portion is 3 million tonnes at 0.99 g/t gold and 112 g/t silver. Almost all (98%) of the M&I material is within the pit.
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF)
( GoGold , the Company ) is pleased to release the results of 5 diamond drill holes from the El Orito area in its Los Ricos North project. Hole LRGO-21-014 intersected 84.6m of 125 g/t silver equivalent ( AgEq ) (See Table 1 for details including breakdown of silver and gold values), which included 3.5m of 845 g/t AgEq.
Figure 1: Plan View – La Trini to El Favor Area of Los Ricos North (CNW Group/GoGold Resources Inc.)
Figure 2: El Orito Drill Hole Locations (CNW Group/GoGold Resources Inc.)
Figure 3: Favor-Orito Long Section (CNW Group/GoGold Resources Inc.)
Figure 4: Cross Section LRGO-21-010 and LRGO-21-014 (CNW Group/GoGold Resources Inc.)