Drilling At El Favor In Los Ricos North

HALIFAX, NS - GoGold Resources Inc. reported additional assay results from the Company's El Favor deposit on the Los Ricos North property, including 2.0m of 928 g/t silver equivalent (AgEq), within 15.3m of 174 g/t AgEq, both from hole LRGF-20-019.

"Results from our first 20 diamond drill holes are demonstrating the El Favor deposit is hosted by a large scale zone of semi-parallel silver and gold bearing structures.  The deposit is open along strike and at depth and may be amenable to bulk mining," said Brad Langille, President and CEO.  "We believe El Favor will form a significant part of our maiden resource for the Los Ricos North project.  With 10 new targets already identified for diamond drilling in 2021, we see the opportunity to realize great value creation through discovery in the Los Ricos district."

The El Favor deposit consists of several sub-parallel mineralized vein systems (El Favor, Salomon, Las Guittarrillas, Los Chivos) that occur along a 2km E-W trending, north dipping, structural zone. The junction of veins is highly favorable for bulk tonnage mineralization and all 4 veins merge in the area of the historical Hundido open pit and Salomon underground workings.

Hole LRGF-20-019 was drilled to test below the Salomon workings and intersected 70.5m of 61 g/t AgEq from 25.5 to 96.0m, consisting of 50 g/t Ag and 0.15 g/t Au in silicified and altered quartz rhyolite units, including a high-grade intercept of 2.9m of 390 g/t AgEq.  The hole also intersected another vein from 112.2 to 127.5m for 15.3m of 174 g/t AgEq, which included a high-grade intercept of 2.0m of 928 g/t AgEq. Hole LRGF-20-010 intersected 14.8m of 168 g/t AgEq from 36.0 to 50.8m, consisting of 131 g/t Ag and 0.49 g/t Au, including an intercept of 3.2m of 604 g/t AgEq, made up of 452 g/t Ag and 2.03 g/t Au. Hole LRGF-20-020 intersected 12.8m of 149 g/t AgEq from 144.8 to 157.6m, consisting of 127 g/t Ag and 0.30 g/t Au, including an intercept of 3.3m of 368 g/t AgEq.  The hole also intersected 2.0m of 254 g/t AgEq from 243.6 to 245.6m.