COLORADO SPRINGS, CO / ACCESSWIRE / January 12, 2015 / Gold Resource Corporation (the "Company") (NYSE MKT: GORO), today announced high-grade mineralization at its Alta Gracia property with drill intercepts including 5.06 meters of 1.53 grams (0.05 ounces) per tonne gold and 1,383 grams (44 ounces) per tonne silver. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA. The Company has returned over $101 million to shareholders in monthly dividends since commercial production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
The Alta Gracia Mexico property is located approximately 16 kilometers northwest of the Company's producing Arista Mine at the El Aguila Project. Alta Gracia lies within a larger 55 kilometer structural fault ("San Jose Structural Corridor") along which the Company has consolidated into 6 properties. Alta Gracia shows evidence of past small scale artisanal mining but with only limited historical exploration. The 2014 Alta Gracia diamond drill campaign initially focused near the historic El Mirador underground mine, testing the Mirador vein (see maps). Hole 4140009 returned 5.06 meters grading 1.53 grams per tonne gold and 1,383 grams per tonne silver. Hole 4140013 returned 8.58 meters grading 1.34 grams per tonne gold and 700 grams per tonne silver (see table below).
The Mirador vein gold and silver mineralization discovered to date does not show any appreciable base metals, so this precious metal mineralization could potentially be trucked to and processed through the El Aguila Mill's agitated leach circuit. Any future production from the agitated leach circuit could add to the Company's current production from the mill's flotation circuit fed by the Arista underground high-grade polymetallic mine.
The San Juan Vein, located approximately 500 meters southwest of the historic Mirador underground mine, was also tested and returned 1.19 meters grading 3.16 grams gold and 2,232 grams silver in Hole 4140003. A second interval returned 0.32 meters grading 14.30 grams gold and 3,010 silver.
The Company also drilled the El Huaje vein, a parallel vein structure located approximately 200 meters southeast of the Mirador vein. Hole 4140020 returned 2.23 meters of 0.85 grams gold, 710 grams per tonne silver, 1.03% lead and 5.14% zinc (see table below).
"The mineral potential at Alta Gracia is very exciting," exclaimed Gold Resource Corporation's Vice President of Exploration Mr. Barry Devlin. "Past drill programs returned gold intercepts with silver in excess of a kilo per tonne. These follow up results confirm additional high-grade zones and further our understanding of the geology of these veins. We are pleased to see these drill results from the Mirador, San Juan and El Huaje veins and look forward to additional results and testing new targets as well."
"It is very encouraging to continue to intercept high-grade mineralization at Alta Gracia," stated Gold Resource Corporation's CEO and President, Mr. Jason Reid. "It is our long term objective of drawing multiple sources of mineralization from our 6 properties, located along our 55 kilometer mineralized structural corridor, and trucking mineral to our strategically located El Aguila mill. As we test the mineralized ore shoots in these Alta Gracia veins, our goal is to define enough mineralization to justify mining and trucking ore to the Aguila mill. We are pleased with the advancements being made at Alta Gracia."
About GRC:
Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company has 100% interest in six potential high-grade gold and silver properties at its producing Oaxaca, Mexico Mining Unit and exploration properties at its Nevada, USA, Mining Unit. The Company has 54,179,369 shares outstanding and no warrants. Gold Resource Corporation offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery. For more information, please visit GRC's website, located at www.Goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved.
Cautionary Statements:
This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words “plan”, “target”, "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding Gold Resource Corporation's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Gold Resource Corporation on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that production will continue at any specific rate. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company's 10-K filed with the SEC.
CONTACT:
Corporate Development
Greg Patterson
303-320-7708
www.Goldresourcecorp.com
SOURCE: Gold Resource Corporation