COLORADO SPRINGS, CO--(Marketwired - Jun 19, 2013) - Gold Resource Corporation (
Recent vein Splay 5 drill highlights include:
Hole # 113704 (meters down hole, not true width)
- 4.70 meters of 3.09 g/t gold, 2,658 g/t silver, 0.56% copper, 1.14% lead, 2.17% zinc
|Assays by ALS Chemex, Vancouver, BC Canada|
Gold Resource Corporation previously announced drill results in March 2013 from a new zone expanding the Arista vein system named Splay 5. The Company continues to explore this highly prospective vein and reports additional high grade mineralization from drilling (see map). Splay 5 has now been drilled over 250 meters vertical extent with mineralization remaining "open" in both strike and at depth. The Company's mine development is currently drifting towards Splay 5 and expects to begin mining this mineralization during the second half of 2013.
"The drill results of 1.7 percent silver and 10.7 grams gold over half a meter within a wider 4.7 meter mineralized intercept of 2.6 kilograms per tonne silver and 3 grams per tonne gold speaks for itself," stated Gold Resource Corporation's President, Mr. Jason Reid. "I will add to those exciting grades that the continued vein continuity and mineralization at Splay 5 support our belief the Arista vein system is high-grade, powerful and has potential to grow substantially."
The Company has preliminarily targeted Splay 5 to begin to contribute to production during the third or fourth quarter of 2013.
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 53,279,369 shares outstanding, no warrants and no debt. 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.