-- Posted Monday, 14 March 2011 | | Source: GoldSeek.com
DENVER, CO--(03/14/11) - Gold Resource Corporation (GORO) (AMEX:GORO) reports the production transition and commencement of processing its La Arista underground ore. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico.
Transition from processing the Aguila Project's open pit ore to processing its Arista underground ore is underway with flotation optimization to produce three separate concentrates; a Gold/Copper, a Lead/Silver and a Zinc concentrate.
Gold Resource Corporation's President, Mr. Jason Reid stated, "La Arista's high-grade polymetallic deposit is the Company's real value and source of its longevity, and we are excited to make this important production transition ahead of schedule. As we target higher average grade ore, greater production levels and lower cash cost per ounce production, we look forward to 2011 as a transformational year for the Company."
"The Aguila open pit deposit enabled the Company to achieve commercial production in the shortest amount of time, provided necessary waste rock for the tailings dam and successfully positioned the Company as a low cost gold producer. The remaining El Aguila open pit ore stockpiles will be processed in the mill's agitated leach circuit after the processing of Arista underground ore is optimized," stated Mr. Reid.
Gold Resource Corporation's high-grade Arista deposit is the Company's largest deposit discovered to date with a current mine life estimate of 8 years. Three drill rigs target additional ounces as the Arista deposit remains open in strike and depth.
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. The Company has 100% interest in five potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The Company has 52,998,303 shares outstanding, no warrants and no debt. 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 Securities and Exchange Commission.
Contact:
Greg Patterson
Corporate Development
303-320-7708
-- Posted Monday, 14 March 2011 | Digg This Article
| Source: GoldSeek.com
