GoGold Resources Inc. has formally commenced site construction at the Los Ricos South silver-gold project in Jalisco, Mexico, supported by a cash position of US$284 million, zero debt, and operating cash flow from the Parral Tailings mine in Chihuahua.

The construction kickoff follows the completion of a feasibility study in 2025 and the issuance of the project permit by the Mexican Government in June. By initiating detailed engineering and plant design in 2025, the company secured a head start on long-lead equipment orders, maintaining a schedule targeted for a first silver and gold pour in June 2028.

“We are fully financed with a robust cash position of US$284 million, strong cash flow from our operation at Parral, and zero debt as we begin construction at Los Ricos South”

“The decision to advance detailed engineering early has allowed us to get a meaningful head start on long-lead time equipment, which we expect will support an effective execution of the build and keep us on track for first gold pour in June 2028.”

— Brad Langille, President and CEO

Acquired in March 2019, the Los Ricos district advanced through an initial mineral resource estimate in July 2020 and a preliminary economic assessment in January 2021 before reaching the 2025 feasibility milestone. Cash flow from Parral continues to underpin district-wide development and exploration.

Earthworks and plant-site construction are underway following the mobilization of the earthworks contractor and the arrival of an on-site construction manager. Engineering, procurement, and construction management contractor M3 is stationed at the site, with plant design by M3 and DENM Engineering approximately 85% complete. Responsible Mining Solutions is advancing paste backfill plant design, and orders are placed for critical long-lead items including the SAG mill, crusher, electrical switchgear, Merrill-Crowe plant, tailings filter, conveyors, slurry pumps, hydrocyclones, feeders, and screens.

An underground mining contractor has been selected, with portal construction planned for the fourth quarter of 2026 and initial underground development targeted for January 2027. WSP Geotechnical Engineering is providing specialist support for ongoing geotechnical drilling to optimize portal placement and underground mine planning.

GoGold has also initiated a regional environmental mitigation program involving the planting of 20,000 trees.

Read the full announcement: GoGold Commences Construction of the Fully-Funded Los Ricos South Mine