Gold Resource Corporation (NYSE MKT: GORO) (the "Company") announces drill intercepts including 6.05 meters of 4.38 grams per tonne gold and 789 grams per tonne silver at its El Aguila Project. Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $95 million to shareholders in monthly dividends since declaring production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
The Company continues to drill both infill and step-out holes testing the mineralized vein extensions at its producing Arista mine. The Arista is a high-grade polymetallic (gold, silver and base metal) epithermal vein deposit with multiple parallel en echelon veins and splays. Expanding upon the recently discovered Santa Lucia vein, underground Hole #514006 returned another Santa Lucia intercept averaging 1.64 meters of 6.19 grams per tonne gold, 592 grams per tonne silver, 0.60% copper, 0.71% lead and 2.50% zinc. Hole #514006 was advanced further and intercepted vein mineralization in the hanging wall (HW in table below) of 1.73 meters of 10.63 grams per tonne gold, 1,007 grams per tonne silver, 0.68% copper, 1.72% lead and 5.16% zinc.
Additional recent drill highlights included surface Hole #1147005 intercepting the Aire vein with 6.05 meters of 4.38 grams per tonne gold, 789 grams per tonne silver, 0.14% copper, 0.36% lead and 0.68% zinc. This step-out hole expands the Aire mineralization to the south. Underground drilling also intercepted the Baja vein in Hole #514011 with 1.86 meters of 48.62 grams per tonne gold, 997 grams per tonne silver, 1.38% copper, 1.28% lead and 2.35% zinc expanding mineralization to the south east (see table).
RECENT ARISTA DEPOSIT DRILL HIGHLIGHTS INCLUDE
El Aire Vein
Santa Lucia Vein
HW Santa Lucia Vein
Splay 66 Vein
Meters down hole, not true width
Assays by ALS Chemex and GRC's Laboratory
"We are very pleased with these recent additional Arista system multiple high-grade intercepts," stated Gold Resource Corporation's CEO and President, Mr. Jason Reid. "Early drill holes into the Aire vein intercepted gold and silver along with higher grade base metals. This recent step-out hole into the Aire vein intercepted high-grade gold and silver, which adds to that vein's precious metal potential. Continued Santa Lucia vein high-grade intercepts, including the recent 1.7 meters of 10.63 grams per tonne gold and 1,007 grams per tonne silver, speaks to its gold and silver potential as well, and high-grade results from the Baja vein of 1.86 meters of 48.62 grams per tonne gold and 997 grams per tonne silver, demonstrate why we believe we are in a strong position to continue adding ounces to this high-grade polymetallic Arista deposit, with the goal of having three to four years of production drilled out in front of us at any point in time."
Gold Resource Corporation's Vice President of Exploration, Mr. Barry Devlin, added, "We are currently testing Arista vein extensions to the south and west with infill, step-out and exploration holes to better define and expand our high-grade mineralized system. We are also drilling the Switchback discovery 500 meters to the north east. In addition, we are moving forward on our maiden SEC Industry Guide 7 Proven and Probable Reserve Report on a large portion of the Arista deposit, which will include all drill hole and underground channel sample data through December 31, 2013. All drill hole intercepts, including those in this press release, as of January 1, 2014 will not be included in the upcoming reserve report. Having said that, we are very pleased with the continued drilling campaign's success on the El Aguila Project."
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 in Mexico's southern state of Oaxaca. 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.
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.
SOURCE: Gold Resource Corporation