COLORADO SPRINGS, Colo., May 28, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the “Company”) today announced the continued expansion of the Arista Mine’s Switchback vein system. High-grade mineralization intercepted 175 meters along the northern strike and 200 meters up-dip in vertical elevation significantly expanding the Arista Mine. Drill intercepts include 11.95 meters of 1.04 grams per tonne (g/t) gold and 494 g/t silver, including 2.50 meters of 2.68 g/t gold and 1,420 g/t silver. 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.
From an underground exploration drill station located approximately 200 meters to the northeast of the Arista Mine’s Arista vein system, eight (8) drill holes tested the northern strike and up-dip extensions of the Switchback vein system. Multiple en echelon veins were encountered, extending the known mineralization at Switchback both along strike and up-dip to higher elevations (see map).
Switchback vein system drill highlights include (m=meters, g/t=gram per tonne; full drill table below):
Hole# 519004 (125-meter step-out, 125-meter step-up):
|incl. 1.50m of 4.95 g/t gold, 26 g/t silver, 0.73% copper, 1.95% lead, 4.35% zinc|
Hole# 519007 (100-meter step-out, 200-meter step-up):
|incl. 0.90m of 1.46 g/t gold, 740 g/t silver, 0.21% copper, 0.49% lead, 1.39% zinc|
|incl. 2.50m of 2.68 g/t gold, 1,420 g/t silver, 0.33% copper, 1.30% lead, 3.25% zinc|
|incl. 1.51m of 1.48 g/t gold, 1,450 g/t silver, 0.19% copper, 0.12% lead, 0.27% zinc|
|incl. 0.40m of 3.49 g/t gold, 974 g/t silver, 0.07% copper, 0.27% lead, 0.56% zinc|
Hole# 519009 (175-meter step-out, 125-meter step-up):
|incl. 1.21m of 0.13 g/t gold, 195 g/t silver, 0.28% copper, 7.54% lead, 8.89% zinc|
“This year’s exploration efforts at Switchback continue to impress with significant vein expansions along both strike and up-dip,” stated Mr. Barry Devlin, Vice President of Exploration for Gold Resource Corporation. “Our recent focus has been on the northern extension of the Switchback veins system where the main Soledad vein appears to be splitting into two distinct mineralized structures. Exploration goals for the remainder of the year are to continue to test these northern extensions of this growing system, both along strike and up-dip at higher elevations, as well as infill drilling to upgrade mineralized material to proven and probable reserves.”
“Our Oaxaca Mining Unit’s exploration team continues to do an excellent job expanding the Arista Mine’s mineralization,” stated Mr. Jason Reid, President and CEO of Gold Resource Corporation. “As I have stated for over a decade, this is a very powerful high-grade epithermal system with the complex geologic structures needed for numerous vein discoveries. New veins and intercepts including 2.5 meters of 2.68 grams per tonne gold and 1,420 grams per tonne silver within a much wider mineralized vein of over 11 meters underscores the Arista Mine’s growth potential. As we follow these various structures exploring for more ore shoots like those discovered in these recent drill results, the Arista Mine continues to prove itself as a high-grade, expanding and exciting deposit.”
|ARISTA MINE DRILL RESULTS |
Switchback Vein System - May 2019
|518024||-8||SB North Vein HW||218.39||2.10||0.15||93||0.01||0.02||0.08|
|518025||-4.5||SB North Vein||153.08||2.02||0.87||69||0.29||0.86||2.09|
|SB North Vein||322.21||4.19||0.31||82||0.03||0.08||0.19|
|519002||-2.5||SB North Vein||368.70||3.90||0.09||80||0.00||0.02||0.05|
|519004||-29||SB North Vein FW||207.50||1.50||0.09||15||0.22||2.37||3.04|
|SB North Vein||212.00||3.45||2.45||17||0.42||1.41||5.85|
|SB North Vein HW1||227.40||1.50||0.08||16||0.16||1.34||1.65|
|SB North Vein HW2||228.90||1.45||4.35||91||0.35||1.49||1.73|
|519007||-8||SB North FW||178.50||3.50||0.29||225||0.14||0.22||0.32|
|SB North Vein||191.65||11.95||1.04||494||0.14||0.42||1.09|
|SB North HW||246.05||8.02||0.56||395||0.06||0.05||0.13|
|519009||-31||SB North FW||206.27||1.84||1.10||12||0.26||0.52||4.62|
|SB North Vein||216.17||3.85||0.11||130||0.41||4.29||7.75|
|Assays by ALS, Vancouver, BC Canada. Meters Down Hole, Not true width. |
“SB” = Switchback. “HW” = Hanging Wall. “FW” = Foot Wall.
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.
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