08:24 AM EDT, 09/10/2024 (MT Newswires) -- GoGold Resources ( GLGDF ) on Tuesday said it rethought plans for an open-pit mine at its Los Ricos South project in Mexico, opting for an underground-only project as it readies a definitive feasibility study for the project.

The company said focusing on underground mining for the 2,000-tonne per day project lowers its surface disturbance and removes the need to apply for a controversial open-pit permit.

"The advantages of re-engineering the mine for the first 12 years as an underground-only mine are a reduced surface disturbance and no requirement for an open pit permit. There has been no controversy regarding underground mine permits in Mexico , while open pit permits are currently the subject of potential constitutional amendments," chief executive Brad Langille said in a release.

The company said it is also re-engineering its Los Ricos North project as an underground mine as it readies a revised preliminary economic assessment for release next year.

The Los Ricos South definitive feasibility study is in its final phases of completion, the company said, though it did not specify any time frame for its release.

GoGold shares closed up $0.01 to $1.07 Monday on the Toronto Stock Exchange.