GoGold Resources Advances Development of Los Ricos South Project, Mexico
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GoGold Resources said it has advanced to the execution phase of the Los Ricos South Project located in the Jalisco State, Mexico by launching detailed design activities and initiating the placement of orders for long lead items.
“The advancement of the Los Ricos underground project marks an important milestone in the growth of the company. The progress to date will ensure a quick launching of site construction once the permit is issued, we are shovel ready. We have assembled a strong Mexican team to construct, commission and ramp up production,” said Brad Langille, president and CEO.
“With approximately $250 million in the bank and the cash flow that our Parral operation is generating, we look forward to getting underway in Los Ricos to the benefit of the local community and all the stakeholders. We will continue to make substantial investments in the Mexican economy, where 100 percent of our operations are located,” added Langille.
Significant progress has been made to date including:
• Underground Mexican mining contractor selected (Cominvi, S.A.).
• Detailed underground mine design and planning advanced.
• Detailed plant design by M3 Mexicana has advanced to 55 percent complete.
• Detailed SART (sulfidization, acidification, recycling, and thickening) plant design has advanced to 70 percent
complete.
• Identified suppliers and preparing to order a new SAG grinding mill in the coming weeks.
• Design of the DSTF (dry stack tailings facilities) has advanced.
• Contract issued for the detailed design of the Paste Plant.
• All site geo-tech work to support the design programs has been competed.
• Supply contract reached with the local utility company over project grid power supply from the Yesca Hydro
dam. Engineering of the line is in progress with the local electrical company Sistema.
• Water supply assessments, both surface and ground supplies, are well advanced.
GoGold Resources 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 mine in the state of Chihuahua and has the Los Ricos South and Los Ricos North exploration and development projects in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects.
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