COLORADO SPRINGS, CO--(Marketwired - Jun 22, 2017) - Gold Resource Corporation ( NYSE MKT : GORO ) (the "Company") today announced drill highlights from its phase four drill campaign at the Gold Mesa exploration property located in Mineral County, Nevada. Drill highlights include near surface intercepts of 6.10 meters of 2.09 grams per tonne (g/t) gold and 6.10 meters of 1.20 g/t gold. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $109 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.
Gold Resource Corporation's phase four reverse circulation drill campaign followed-up on two targets previously tested at its Gold Mesa property with multiple drill holes encountering near surface high-grade gold mineralization. The Company has tested a total of eight exploration targets at Gold Mesa.
Gold Mesa Drill Highlights include (m = meters, g/t = grams per tonne) (see full table attached):
Hole #GMA-121
- 6.10m of 2.09 g/t gold, 10.67m downhole
incl. 3.05m of 3.56 g/t gold, 10.67m downhole
Hole #GMA-122
- 4.57m of 0.97 g/t gold, 10.67m downhole
incl. 3.05m of 1.34 g/t gold, 10.67m downhole
Hole #GMA-127
- 4.57m of 1.08 g/t gold, 13.72m downhole
incl. 3.05m of 1.55 g/t gold, 13.72m downhole
Hole #GMA-132
- 6.10m of 1.20 g/t gold, 10.67m downhole
incl. 1.52m of 3.13 g/t gold, 13.72m downhole
Hole #GMA-141
- 3.05m of 1.48 g/t gold, 22.86m downhole
Hole GMA-121 was drilled vertical intercepting 6.10 meters grading 2.09 g/t gold and 170 g/t silver with mineralization beginning 10.67 meters downhole; including 3.05 meters grading 3.56 g/t gold and 282 g/t silver.
Hole GMR-122 was drilled vertical intercepting 4.57 meters grading 0.97 g/t gold and 185 g/t silver with mineralization beginning 10.67 meters downhole; including 3.05 meters grading 1.34 g/t gold and 242 g/t silver.
Hole GMA-127 was drilled vertical intercepting 4.57 meters grading 1.08 g/t gold with mineralization beginning 13.72 meters downhole; including 3.05 meters grading 1.55 g/t gold.
Hole GMA-132 was drilled vertical intercepting 6.10 meters grading 1.20 g/t gold with mineralization beginning 10.67 meters downhole; including 1.52 meters of 3.13 g/t gold.
Hole GMA-141 was drilled vertical intercepting 3.05 meters grading 1.48 g/t gold with mineralization beginning 22.86 meters downhole.
Gold Mesa phase four drill results reported in this press release add to previously reported high-grade drill results, which included 33.54 meters grading 1.89 g/t gold, 15.24 meters grading 6.27 g/t gold, 12.19 meters grading 2.42 g/t gold, 9.1 meters grading 2.42 g/t gold, and 12.19 meters grading 3.34 g/t gold (see press releases dated June 14, 2016, October 13, 2016 and March 21, 2017). The Gold Mesa property has potential for a high-grade gold open pit, or multiple gold open pits, with surface and near surface mineralization. A phase five drill program is currently underway, with a goal of expanding known high-grade gold zones and testing new targets.
Mr. Barry Devlin, Vice President of Exploration, stated, "We have now completed four successful phases of shallow drilling at Gold Mesa, where each phase encountered significant surface and near surface gold values, at depths typically less than 30 meters below surface. We are excited to again be drilling the Gold Mesa property, with a goal to expand known mineralized zones."
The Gold Mesa property is part of the Company's Nevada Mining Unit, which also includes the development stage Isabella Pearl Project, the Mina Gold exploration property, and the East Camp Douglas exploration property. All four Nevada properties have surface and / or near surface high-grade gold drill intercepts and potential for future high-grade open pit heap leach operations. The Isabella Pearl Project is in advanced stage design, engineering and permitting with the goal of production at the earliest possible point in time. The Company's Nevada Mining Unit covers more than 27,000 acres in south central Nevada's historic Walker Lane Mineral Belt.
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 with operations in Oaxaca, Mexico and Nevada, USA. The Company has 56,839,823 shares outstanding, zero warrants and has returned $109 million back to shareholders since commercial production commenced July 1, 2010. 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.
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