GoGold announces NPV of $295m for Los Ricos south PEA

Los Ricos project (Image: GoGold)

GoGold Resources release the results of its initial Preliminary Economic Assessment at its Los Ricos South Project located in Jalisco State, Mexico.

Highlights of the PEA, with a base case silver price of $21.00/oz and gold price of $1,550/oz include after-Tax NPV (using a discount rate of 5%) of $295 million, and 11-year mine life producing a total of 69.6 million payable silver equivalent ounces, consisting of 42.9 million silver ounces, 352,000 gold ounces and 4.5 million copper pounds

The company reported initial capital costs of $125 million.

“The acquisition of the Los Ricos district, only 22 months ago in March 2019, has proven to be a tremendous catalyst of growth for GoGold,” said Brad Langille, GoGold CEO.

“We are now aggressively advancing Los Ricos North with a 100,000m drill program and targeting an initial Mineral Resource in 2021.”

During 2020, GoGold’s exploration team identified over 100 targets on the Los Ricos North properties. The Company plans to drill 10 of these
targets as part of its 2021 drilling program.

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