COLORADO SPRINGS, Colo., June 05, 2019 (GLOBE NEWSWIRE) -- Gold Resource Corporation (NYSE American: GORO) (the “Company”) today announced the expansion of Isabella Pearl Mine mineralization with intercepts within and outside the current open pit deposit boundary. Drill intercepts outside the pit boundary include 22.86 meters of 1.03 grams per tonne (g/t) gold, including 4.57 meters of 2.02 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 $111 million to its shareholders in consecutive monthly dividends since July 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
Twenty-seven (27) reverse circulation exploration holes drilled into the deposit’s Pearl area within and outside the current pit-shell expanded the known mineralization in the Pearl Peak area (see map with insert showing permitted development area). This area of the deposit was targeted for additional drilling, as there were open areas with projections of gold mineralization that historic drilling had not defined.
Isabella Pearl drill highlights include (m=meters, g/t=gram per tonne):
|Hole# IPRC-059 (50-meter step-out): |
|•||16.76 m of 0.59 g/t gold|
|incl.||3.05 m of 1.64 g/t gold|
|Hole# IPRC-060 (50-meter step-out): |
|•||18.29 m of 0.55 g/t gold|
|incl.||3.05 m of 1.14 g/t gold|
|Hole# IPRC-063 (50-meter step-out):|
|•||24.38 m of 0.59 g/t gold|
|incl.||3.05 m of 1.77 g/t gold|
|Hole# IPRC-064 (50-meter step-out):|
|• ||22.86 m of 1.03 g/t gold|
|incl.||4.57 m of 2.02 g/t gold|
|Hole# IPRC-067 (25-meter step-out):|
|•||15.24 m of 0.59 g/t gold|
|incl.||3.05 m of 1.13 g/t gold|
“We are pleased to report deposit expansion to the east at the Isabella Pearl Mine’s Pearl Peak area,” stated Mr. Barry Devlin, Vice President of Exploration for Gold Resource Corporation. “We are optimistic these drill results could add additional ounces and extend mine life once they are included in a future updated reserve block model. The next exploration target at Isabella Pearl will be Civit Cat North, an area that lies northeast of the Isabella and Pearl deposits with several untested targets outside the current pit shell.”
“These drill results build on last year’s modest drill program at Isabella Pearl where overall gold reserves increased by 11.5%, or 22,200 ounces,” stated Mr. Jason Reid, President and CEO of Gold Resource Corporation. “Drilling over 22 meters of 1.03 grams per tonne gold in a 50-meter step-out from the current pit boundary is exciting. In 2018 we pushed our mine life out from four to four-and-one-half years. I am optimistic these latest 2019 results, coupled with expansion potential from drilling to the north, could push this deposit’s longevity to a full fifth year, not to mention the numerous targets along the larger ten-kilometer Isabella Pearl project mineralized trend.”
|ISABELLA PEARL MINE DRILL RESULTS|
|Hole #||Angle||From||Interval||Au||Hole #||Angle||From||Interval||Au|
|Assays by ALS, Vancouver, BC Canada. Meters down hole, not true width.|
Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company targets low capital expenditure projects with potential for generating high returns on capital. The Company has returned $111 million back to its shareholders in consecutive monthly dividends since July 2010 and offers its 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2bb8a425-26eb-4046-98f7-db3d13c7d6b7