FOR IMMEDIATE RELEASE NEWS
FOR IMMEDIATE RELEASE NEWS
May 10, 2016 NYSE MKT: GORO
GOLD RESOURCE CORPORATION REPORTS ADDITIONAL HIGH-GRADE SWITCHBACK DRILL INTERCEPTS INCLUDING
8.03 METERS OF 6.85 G/T GOLD, 462 G/T SILVER AND
10.36 METERS OF 4.20 G/T GOLD, 212 G/T SILVER
Colorado Springs - May 10, 2016 - Gold Resource Corporation (NYSE MKT: GORO) (the "Company") today announced additional Switchback drill results from its Aguila Project's Arista Mine. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA. The Company has returned $108 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
Each Switchback drill hole intercepted multiple parallel veins (see full table below). Drill Highlights include (m=meters, g/t = grams per tonne):
|
Hole # 516101
|
|
12.09m of
|
4.07g/t gold,
|
51g/t silver,
|
0.69% copper,
|
2.67% lead,
|
7.86% zinc
|
|
incl.
|
2.38m of
|
6.61g/t gold,
|
80g/t silver,
|
0.80% copper,
|
10.09% lead,
|
11.57% zinc
|
|
28.86m of
|
1.87g/t gold,
|
104g/t silver,
|
0.44% copper,
|
3.17% lead,
|
13.44% zinc
|
|
incl.
|
3.07m of
|
6.67g/t gold,
|
58g/t silver,
|
0.81% copper,
|
2.76% lead,
|
12.29% zinc
|
|
24.46m of
|
1.38g/t gold,
|
143g/t silver,
|
0.64% copper,
|
3.47% lead,
|
11.90% zinc
|
|
8.03m of
|
6.85g/t gold,
|
462g/t silver,
|
0.54% copper,
|
2.03% lead,
|
5.21% zinc
|
|
incl.
|
2.32m of
|
15.60g/t gold,
|
1,192g/t silver,
|
0.60% copper,
|
1.59% lead,
|
5.53% zinc
|
|
Hole # 516103
|
|
10.36m of
|
4.20g/t gold,
|
212g/t silver,
|
0.60% copper,
|
3.33% lead,
|
8.04% zinc
|
|
14.38m of
|
3.16g/t gold,
|
71g/t silver,
|
0.57% copper,
|
1.45% lead,
|
5.86% zinc
|
|
incl.
|
2.26m of
|
9.61g/t gold,
|
104g/t silver,
|
0.41% copper,
|
2.58% lead,
|
6.58% zinc
|
|
Hole # 516107
|
|
12.11m of
|
2.28g/t gold,
|
151g/t silver,
|
0.80% copper,
|
1.26% lead,
|
3.66% zinc
|
|
incl.
|
2.53m of
|
6.49g/t gold,
|
544g/t silver,
|
1.44% copper,
|
3.30% lead,
|
5.18% zinc
|
|
Hole # 516110
|
|
11.92m of
|
4.13g/t gold,
|
153g/t silver,
|
0.44% copper,
|
3.97% lead,
|
8.27% zinc
|
|
incl.
|
2.58m of
|
10.77g/t gold,
|
420g/t silver,
|
0.65% copper,
|
7.67% lead,
|
13.40% zinc
|
Hole 516101 was a step-out intercepting four parallel veins, including a new unnamed vein which returned 8.03 meters grading 6.85 g/t gold, 462 g/t silver, 0.54% copper, 2.03% lead and
5.21% zinc; including 2.32 meters grading 15.60 g/t gold, 1,192 g/t silver, 0.60% copper, 1.59% lead and 5.53% zinc. Hole 516101 also intercepted the Soledad vein intruded by a 6-meter wide dike with 12.09 meters in the footwall returning 4.07 g/t gold, 51 g/t silver, 0.69% copper, 2.67% lead and 7.86% zinc. The Soledad vein in the hanging wall of the dike returned 28.86 meters 1.87 g/t gold, 104 g/t silver, 0.44% copper, 3.17% lead and 13.44% zinc; including 3.07
meters grading 6.67 g/t gold, 58 g/t silver, 0.81% copper, 2.76% lead and 12.29% zinc. The
Sabrina vein returned 24.46 meters grading 1.38 g/t gold, 143 g/t silver, 0.64% copper, 3.47% lead and 11.90% zinc.
Hole 516103 was an infill intercepting ten parallel veins, including the Silvia vein which returned
10.36 meters grading 4.20 g/t gold, 212 g/t silver, 0.60% copper, 3.33% lead and 8.04% zinc; including 1.31 meters grading 12.38 g/t gold, 263 g/t silver, 1.67% copper, 2.99% lead and 4.89% zinc. The Soledad vein returned 14.38 meters grading 3.16 g/t gold, 71 g/t silver, 0.57% copper, 1.45% lead and 5.86% zinc; including 2.26 meters grading 9.61 g/t gold, 104 g/t silver, 0.41% copper, 2.58% lead and 6.58% zinc.
Hole 516107 was an infill intercepting three parallel veins, including the Selene vein which returned 12.11 meters grading 2.28 g/t gold, 151 g/t silver, 0.80% copper, 1.26% lead and
3.66% zinc; including 2.53 meters grading 6.49 g/t gold, 544 g/t silver, 1.44% copper, 3.30% lead and 5.18% zinc.
Hole 516110 was an infill intercepting five parallel veins, including the Silvia vein which returned
11.92 meters grading 4.13 g/t gold, 153 g/t silver, 0.44% copper, 3.97% lead and 8.27% zinc; including 2.58 meters 10.77 g/t gold, 420 g/t silver, 0.65% copper, 7.67 % lead and 13.40% zinc.
|
SWITCHBACK DRILL RESULTS
|
|
Hole #
|
Angle
|
Vein
|
From
|
Interval
|
Au
|
Ag
|
Cu
|
Pb
|
Zn
|
|
deg
|
Meters
|
Meters
|
g/t
|
g/t
|
%
|
%
|
%
|
|
516101
|
-30
|
Silvia
|
113.82
|
2.17
|
9.86
|
54
|
0.66
|
1.64
|
6.15
|
|
Incl.
|
113.82
|
0.73
|
26.50
|
78
|
1.05
|
2.03
|
5.02
|
|
Soledad FW
|
130.76
|
12.09
|
4.07
|
51
|
0.69
|
2.67
|
7.86
|
|
Incl.
|
132.01
|
0.72
|
5.66
|
143
|
0.39
|
3.27
|
20.70
|
|
Incl.
|
133.18
|
2.38
|
6.61
|
80
|
0.80
|
10.09
|
11.57
|
|
Incl.
|
140.20
|
0.95
|
7.30
|
76
|
1.25
|
0.47
|
4.09
|
|
Incl.
|
141.47
|
0.68
|
7.18
|
31
|
0.53
|
0.45
|
8.11
|
|
Dike
|
142.15
|
5.69
|
n/a
|
n/a
|
n/a
|
n/a
|
n/a
|
|
Soledad HW
|
147.84
|
28.86
|
1.87
|
104
|
0.44
|
3.17
|
13.44
|
|
Incl.
|
152.02
|
3.07
|
6.67
|
58
|
0.81
|
2.76
|
12.29
|
|
Incl.
|
156.10
|
4.55
|
2.28
|
126
|
0.33
|
2.03
|
24.83
|
|
Incl.
|
168.73
|
0.91
|
2.94
|
91
|
1.17
|
9.17
|
13.10
|
|
Incl.
|
173.20
|
2.89
|
0.18
|
335
|
0.30
|
10.25
|
17.80
|
|
Sabrina
|
180.92
|
24.46
|
1.38
|
143
|
0.64
|
3.47
|
11.90
|
|
Incl.
|
182.89
|
2.16
|
0.67
|
157
|
0.62
|
13.25
|
9.39
|
|
Incl.
|
186.11
|
0.69
|
7.47
|
70
|
0.57
|
5.12
|
12.80
|
|
Incl.
|
190.19
|
0.70
|
1.08
|
516
|
0.44
|
6.43
|
11.55
|
|
Incl.
|
194.35
|
1.02
|
3.77
|
154
|
0.58
|
3.01
|
17.35
|
|
Incl.
|
203.14
|
1.25
|
2.50
|
116
|
0.83
|
1.69
|
20.72
|
|
Vein
|
221.13
|
8.03
|
6.85
|
462
|
0.54
|
2.03
|
5.21
|
|
223.74
|
2.32
|
15.60
|
1,192
|
0.60
|
1.59
|
5.53
|
|
516103
|
-30
|
Susanna
|
79.69
|
2.13
|
0.30
|
103
|
0.63
|
0.36
|
12.63
|
|
Incl.
|
79.69
|
0.67
|
0.33
|
70
|
0.83
|
0.91
|
24.80
|
|
Silvia
|
111.12
|
10.36
|
4.20
|
212
|
0.60
|
3.33
|
8.04
|
|
Incl.
|
111.12
|
0.40
|
4.22
|
1,020
|
0.51
|
0.17
|
0.53
|
|
Incl.
|
113.11
|
1.31
|
12.38
|
263
|
1.67
|
2.99
|
4.89
|
|
Incl.
|
116.76
|
0.74
|
5.75
|
211
|
0.67
|
2.39
|
14.00
|
|
Incl.
|
119.60
|
1.26
|
4.85
|
211
|
0.68
|
14.47
|
15.09
|
|
Vein
|
127.15
|
1.20
|
2.99
|
44
|
0.42
|
0.59
|
12.75
|
|
Soledad
|
138.64
|
14.38
|
3.16
|
71
|
0.57
|
1.45
|
5.86
|
|
Incl.
|
138.64
|
2.26
|
9.61
|
104
|
0.41
|
2.58
|
6.58
|
|
Incl.
|
151.20
|
1.34
|
5.34
|
123
|
1.19
|
1.36
|
5.21
|
|
Vein
|
155.90
|
0.55
|
6.93
|
118
|
1.37
|
2.21
|
8.09
|
|
Vein
|
230.43
|
2.98
|
3.95
|
72
|
1.64
|
3.53
|
6.27
|
|
Incl.
|
231.80
|
0.79
|
10.15
|
174
|
3.41
|
11.35
|
8.63
|
|
Vein
|
259.40
|
2.16
|
3.13
|
69
|
0.79
|
0.43
|
3.99
|
|
Incl.
|
260.54
|
1.02
|
5.89
|
28
|
1.17
|
0.75
|
5.00
|
|
Vein
|
270.04
|
1.76
|
6.19
|
38
|
0.92
|
2.34
|
11.33
|
|
Vein
|
276.60
|
0.34
|
0.23
|
418
|
0.05
|
0.60
|
6.78
|
|
Vein
|
278.10
|
0.48
|
0.19
|
581
|
0.05
|
1.43
|
9.30
|
|
516107
|
-41
|
Selene
|
226.84
|
12.11
|
2.28
|
151
|
0.80
|
1.26
|
3.66
|
|
Incl.
|
226.84
|
1.80
|
5.69
|
108
|
1.52
|
0.83
|
4.61
|
|
Incl.
|
230.47
|
1.23
|
0.14
|
73
|
1.16
|
1.99
|
7.63
|
|
Incl.
|
234.10
|
2.53
|
6.49
|
544
|
1.44
|
3.30
|
5.18
|
|
Incl.
|
238.24
|
0.71
|
0.19
|
120
|
1.08
|
2.77
|
10.85
|
|
Vein
|
249.35
|
0.89
|
0.22
|
59
|
0.80
|
4.92
|
5.66
|
|
Vein
|
268.14
|
0.88
|
2.06
|
188
|
0.68
|
6.79
|
5.91
|
|
516109
|
-46
|
Soledad
|
213.50
|
1.50
|
2.87
|
756
|
0.45
|
3.63
|
11.44
|
|
Sagrario
|
281.57
|
2.54
|
2.46
|
30
|
1.05
|
0.18
|
2.43
|
|
Vein
|
293.35
|
1.11
|
0.18
|
110
|
1.39
|
3.78
|
6.69
|
|
516110
|
-35
|
Silvia
|
105.28
|
11.92
|
4.13
|
153
|
0.44
|
3.97
|
8.27
|
|
Incl.
|
105.28
|
2.76
|
5.19
|
135
|
0.66
|
7.26
|
12.65
|
|
Incl.
|
108.04
|
1.90
|
0.44
|
80
|
0.29
|
1.87
|
9.65
|
|
Incl.
|
109.94
|
2.58
|
10.77
|
420
|
0.65
|
7.67
|
13.40
|
|
Incl.
|
112.52
|
0.43
|
3.66
|
136
|
0.14
|
0.07
|
0.36
|
|
Incl.
|
113.26
|
0.39
|
4.57
|
223
|
0.61
|
2.24
|
5.68
|
|
Incl.
|
114.67
|
0.43
|
1.14
|
44
|
0.32
|
5.38
|
11.10
|
|
Incl.
|
116.93
|
0.27
|
7.20
|
58
|
0.82
|
1.13
|
3.89
|
|
Vein
|
121.38
|
0.69
|
1.16
|
73
|
0.37
|
1.08
|
10.55
|
|
Selene
|
128.43
|
6.11
|
1.12
|
224
|
0.29
|
1.14
|
7.98
|
|
Incl.
|
128.43
|
0.66
|
0.69
|
66
|
0.24
|
0.83
|
9.39
|
|
Incl.
|
130.94
|
1.44
|
3.62
|
803
|
0.54
|
3.10
|
20.51
|
|
Incl.
|
134.11
|
0.43
|
0.97
|
61
|
0.44
|
0.81
|
9.05
|
|
Vein
|
195.61
|
0.74
|
3.68
|
36
|
1.52
|
0.73
|
3.87
|
|
Sofia
|
203.41
|
0.43
|
0.38
|
75
|
1.36
|
1.29
|
1.28
|
|
Assays by ALS Chemex, Vancouver, BC Canada. Meters Down Hole, Not true width.
|
The high-grade polymetallic Switchback vein system expands the currently producing Arista Mine mineralization (see map). The Company continues to develop a second drift to access Switchback and targets to crosscut and mine this mineral in the second half of 2016, dependent on drift progression, rock competency, potential water courses and CO2 gas that may be encountered during development. Thus far no appreciable amounts of water or gas have been encountered, though the Company does expect water management to be necessary in the future.
These infill and step-out drill results from Switchback confirm continuity of modeled veins and expand previously defined mineralization. The Switchback vein system remains open in all directions, and the Company continues to drill the extensions of this expanding vein system. At December 31, 2015, the Company reported mineralized material at Switchback in excess of 630,000 tonnes.
Mr. Barry Devlin, Vice President of Exploration, stated, "Exploration at Switchback continues to deliver impressive results defining high-grade polymetallic mineralization over multiple parallel veins. These latest drill results also include some of the widest intercepts we have seen to date in the Switchback swarm of veins. Our exploration team's goal for Switchback is to continue drilling the extensions of this expanding epithermal system. If we reach the Switchback veins with development in time for the next reserve update, we target a conversion of a portion of Switchback's mineralized material into proven and probable reserves."