GoGold Resources Progress on Los Ricos Feasibility Study
![GoGold Resources Progress on Los Ricos Feasibility Study](https://investorshangout.com/images/blog/ihnews-GoGold%20Resources%20Progress%20on%20Los%20Ricos%20Feasibility%20Study.jpg)
Update on GoGold Resources' Los Ricos Feasibility Study
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF), a growing player in the silver and gold production sector, is excited to share the latest updates regarding their Los Ricos projects. With a keen focus on both the Los Ricos South (LRS) and Los Ricos North (LRN), the company is nearing the completion of a comprehensive definitive feasibility study (DFS) for the LRS project.
Shifting to Underground Mining
The journey of the DFS has brought significant changes, particularly in the mine planning approach. GoGold has decided to adopt an underground mining strategy that capitalizes on the large widths of mineralization found in the deposit. This approach involves re-engineering the mine plan to support an underground operation slated to last for 12 years, with a focus on an efficient mining method that enables a throughput of 2,000 tonnes per day.
“By opting for an underground-only mining model, we anticipate reduced surface disturbance, simplifying permitting processes significantly. Unlike open-pit permits, which are currently facing potential legislative obstacles in Mexico, underground mine permits have proven to be more straightforward,” explained Brad Langille, the President and CEO of GoGold. The geological team is also shifting their efforts to model the LRN deposit for similar underground operations.
Milestones in the Feasibility Study
As the DFS for the LRS nears completion, several key elements have already been finalized. The mining operations will primarily rely on contract mining, and in-house management will oversee contractor activities, ensuring a streamlined execution of the project.
Extensive metallurgical tests have been conducted on representative drill core samples from the Los Ricos South deposits. The results validate core components of the processing strategy and confirm operational effectiveness across various stages of the process, including crushing, grinding, and cyanide leaching. The goal is to produce high-grade silver and gold concentrates, alongside a byproduct of copper precipitate.
Environmental and Power Considerations
One of the vital components of the DFS involves ensuring an efficient and environmentally sustainable mining operation. GoGold is currently finalizing an agreement with the Comision Federal de Electricidad (CFE) to secure a reliable power supply from the nearby La Yesca hydroelectric dam, ensuring that the LRS has access to the necessary electricity for its operations.
Additionally, the company has successfully secured land rights essential for establishing the mill and processing facilities for LRS. Agreements with local farmers ensure proper compensation and community involvement in development efforts.
Design of the Processing Mill
The design phase of the processing mill is almost at the finish line, with 90% completion on the design and engineering work. The mill will feature conventional crushing and grinding processes, paired with cyanide tank leaching. There will also be a focus on water recycling through advanced filtration systems, coupled with a SART circuit designed to recycle cyanide for further processing while generating a valuable copper sulfide product.
Progress at Los Ricos North
At Los Ricos North, GoGold's geological team is actively relogging drill holes with the intention of transitioning the existing mine plan, previously designed for open-pit extraction, into an underground mining strategy akin to LRS. The management aims to unveil a revised Preliminary Economic Assessment (PEA) or Preliminary Feasibility Study (PFS) for LRN in the near future.
About GoGold Resources
GoGold Resources (TSX: GGD) is dedicated to effectively operating, developing, exploring, and acquiring top-notch silver and gold projects, predominantly in Mexico. Currently, the company oversees the Parral tailings operation and the Los Ricos projects located in the heart of Mexico. Through strategic development, GoGold is on a mission to form a robust portfolio featuring low-cost, high-margin mining endeavors.
Frequently Asked Questions
What projects is GoGold currently focusing on?
GoGold is primarily focused on the Los Ricos South and Los Ricos North projects as part of their feasibility studies.
What mining strategy is GoGold implementing at Los Ricos?
The company is implementing an underground mining strategy aimed at maximizing mineral recovery while minimizing surface impact.
How does GoGold ensure environmental sustainability?
GoGold is using underground paste backfill methods to reduce surface disturbance and is focusing on water recycling in its milling operations.
What is the estimated mine life for the Los Ricos project?
The current mine plan aims for a duration of 12 years for underground mining at the Los Ricos South project.
What are GoGold's operational objectives?
GoGold aims to develop efficient mining operations that provide high-margin production of silver and gold while ensuring community engagement and environmental stewardship.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.
Related Articles
- Lyra Health Solutions Yield Over $4,138 Savings Per Member
- Symetra Enhances Employee Protection with New Deductible Endorsement
- Rising Voices Against the EATS Act: A Call to Action for Families
- Class Action Filed for ZoomInfo Investors Amid Concerns
- Apple's Strategic Move into AI: Innovations Ahead
- How Investors Are Engaging with Mastercard Options Today
- Celebrate Innovation: Submit for the New Tech Awards Now
- Analyzing Market Movements and Options Trends for DraftKings
- Important Update for WEBTOON Investors Ahead of Deadline
- Korn Ferry Celebrates Recognition for Empowering Women in 2024
Recent Articles
- Jones Soda Unveils New S'mores Flavor Inspired by Campfires
- Valour Achieves Record Growth in Assets Under Management and Inflows
- LightInTheBox Announces Annual Meeting for Shareholders
- Conagra Brands Foundation Fosters Community Growth with Grants
- Discover Generac's Latest Innovations in Home Energy Storage
- Embr Labs Excels as a Quarterfinalist in Digital Health Awards
- Carisma and Moderna Team Up for New Autoimmune Therapies
- Promising Copper Discoveries Propel Pan Global to New Heights
- Cardinal Health and Partners Enhance Focus on Youth Mental Health
- Exploring the Impact of Exercise on Seniors' Fall Rates
- Médunik Canada Partners with Population Council for MS Research
- Revolutionizing Coaching: CoachHub's New Impact Measurement Tool
- GenNx360 Capital Partners Elevates Rishi Verma and Peter White
- Petrobras Cash Tender Offer Results: Key Insights and Implications
- Transforming Hospitality: How Digitalization Boosts Efficiency
- Eir Partners Invests in PharmaForceIQ for Strategic Growth
- Bank of America Adjusts Selic Rate Projection to 11.75%
- UPS Expands Healthcare Logistics with Frigo-Trans Acquisition
- Corporate America Faces Uncertainty Amid Proposed Tax Changes
- Capgemini Stock Surges Following BofA Securities Upgrade
- Ireland's Government Reacts to ECJ Ruling on Apple Tax Aid
- Former Glencore Oil Chief Faces Legal Battles Over Bribery
- Understanding Apple's $14.4 Billion Tax Obligation to Ireland
- China Engages EU in Talks to Address EV Tariff Concerns
- Joby Aviation Seeks Approval for Air Taxi Services in UAE
- Changing Landscape: CEOs in Retail and Consumer Goods Face Shorter Tenures
- KIRCO's Commitment to Community Through Sustainable Giving
- Exciting Forecast for Extracorporeal Membrane Oxygenation Market
- Navigating the AI Landscape: Is Nvidia Stock a Smart Buy?
- Exploring the Growing Pet Food Packaging Market Trends
- Future Growth of Tire Pressure and Airbag Sensor Market
- Market Trends Shift as Investors Watch Inflation Reports
- Alamos Gold: Celebrating Achievement with TSX30 Recognition
- Electra Advances Battery Material Financing with New Proposal
- KellyOCG and Brightfield Join Forces for Labor Insights Boost
- Nanox Unveils Plans for Major Investor Conference Engagement
- OptimizeRx Strengthens Partnership with Pharma Client, Surpassing $10 Million
- Discover the Flavorful Autumn Treats from Bubby’s Baked
- Amesite Partners with Maricopa Corporate College for Training
- CorVel Corporation Wins Two Prestigious Awards for Innovation
- Carbon Done Right Transforms Climate Solutions with Updates
- Draganfly Launches APEX Drone for Enhanced Surveillance Needs
- Avis Budget Group Plans Offer of $500 Million Senior Notes
- Conduit Security Welcomes Luke Wilson as New Operating Partner
- Southeastern Grocers Combats Hunger with Generous Meal Donation
- CIMB Group's Strategic Tech Innovations and Budget Insights
- Chang Robotics Celebrated for Workplace Innovation Excellence
- Pudu Robotics Unveils MT1: The Future of Large-Scale Cleaning
- Gemini's Crypto Study Shows Investors Stay Committed Amidst Declines
- Aardvark Therapeutics Welcomes Two New Leaders to Team