Gogold Resources - GLGDF STOCK NEWS

GoGold Resources (OTCQX: GLGDF) reported its Q1 2022 financial results, revealing $8.9 million in revenue from 401,214 silver equivalent ounces sold at a realized price of $22.07 per ounce. Free cash generated was $3.4 million, despite a decrease in production due to transitioning to a new operational zone. The Company invested $5.8 million in drilling and exploration, marking a strong focus on the Los Ricos district. Cash reserves stood at $55.8 million, indicating a stable financial position.

GoGold Resources announced encouraging drill results from El Favor East in the Los Ricos North project, with hole LRGF-21-107 intersecting 1.0m of an astonishing 11,307 g/t AgEq within 21.2m of 1,079 g/t AgEq. The drill program aims to expand resources by targeting both up-dip and down-dip zones. The company plans to continue aggressive resource expansion throughout 2022, capitalizing on high-grade mineralization evident in recent drill results. All data will contribute to a future resource update.

GoGold Resources (OTCQX: GLGDF) announced promising drilling results from the Mololoa deposit in Los Ricos North. Key intersections include 5,879 g/t AgEq over 1.0m within 14.6m of 877 g/t AgEq and 8,073 g/t AgEq over 0.6m within 5.3m of 1,286 g/t AgEq. President and CEO Brad Langille noted that these results represent some of the highest grades in the project, boosting expectations for additional resource ounces in 2022. The company plans 100,000m of further drilling following their recent mineral resource estimate release.

GoGold Resources has filed a National Instrument 43-101 Technical Report detailing an Initial Mineral Resource Estimate for the Los Ricos North Project in Jalisco, Mexico. As of December 1, 2021, the Indicated Mineral Resource totals 87.8 million ounces AgEq at 122 g/t AgEq, while Inferred Resources stand at 73.2 million ounces AgEq at 111 g/t AgEq. The company plans to conduct 100,000 metres of additional exploration drilling in 2022 to expand mineral resources further.

GoGold Resources Inc. (OTCQX: GLGDF) announced positive drilling results from its El Favor East project within Los Ricos North. Notably, hole LRGF-21-099 intersected 1.4m of 1,703 g/t silver equivalent (AgEq) within 28.3m of 189 g/t AgEq. This follows an initial resource estimate released on December 7, 2021, based on 100,000 meters of drilling. The company plans to conduct an additional 100,000 meters in 2022, aiming to expand resources significantly.

The successful drilling results indicate strong mineralization and support a future resource update.

GoGold Resources (OTCQX: GLGDF) has announced promising results from 13 drill holes at its Mololoa site within the Los Ricos North project. Hole LRGM-21-077 reported an impressive 1.0 meter intersection of 6,675 g/t silver equivalent (AgEq) within a broader 36.3-meter segment averaging 489 g/t AgEq. These results follow previous mineral resource estimates and indicate a strong resource expansion potential. The company also began drilling at the Gran Cabrera zone, suggesting further exploration potential.

GoGold Resources reported production of 444,071 silver equivalent ounces for the quarter ending December 31, 2021, comprising 195,678 silver ounces, 2,558 gold ounces, and 123 tonnes of copper. The company is ramping up its drilling program at the Los Ricos projects, with anticipated production from Parral projected at 2 to 2.2 million silver equivalent ounces this year. The transition between zones in tailings deposits slightly impacted production, putting it below the annualized average.

GoGold Resources Inc. (TSX: GGD, OTCQX: GLGDF) released its 2022 outlook and reviewed 2021, noting significant milestones. The company doubled its resources with an initial Mineral Resource Estimate at Los Ricos North and released a Preliminary Economic Assessment (PEA) for Los Ricos South. In 2022, it plans an aggressive exploration program with 100,000 metres of drilling, updates to Mineral Resource Estimates, and a Pre-Feasibility Study. Strong cash flows from the Parral project position GoGold for value growth, targeting a net present value (NPV) of $295 million.

GoGold Resources (TSX: GGD, OTCQX: GLGDF) reported strong financial results for the year ending September 30, 2021, achieving record revenue of $53.2 million from the sale of 2.2 million silver equivalent ounces. The company generated $24.8 million in free cash flow from its Parral project, facilitating a 98% increase in market capitalization. Key highlights include an adjusted net income of $11.0 million, and a significant increase in drilling at Los Ricos, leading to a resource estimate of 87.8 million silver equivalent ounces.