Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Are We Headed for a Passive Index Meltdown?
By: Frank Holmes

Post-Lehman Legacy and Gold
By: Arkadiusz Sieron

GoldSeek Radio Nugget: John Williams and Chris Waltzek
By: radio.GoldSeek.com

Silver Eagle Sales Surge In September As U.S. Mint Resumes Supply
By: Steve St. Angelo

Can Bitcoin's True Value Be Zero?
By: Avi Gilburt with Ryan Wilday

Dalio Warns Of Dollar Crisis – “History Is Doomed To Repeat Itself”
By: GoldCore

Gold Seeker Closing Report: Gold and Silver Gain with Oil
By: Chris Mullen, Gold Seeker Report

Gold Stocks Remain in Downtrend but Uranium Stocks on the Cusp of New Bull Market
By: Jordan Roy-Byrne CMT, MFTA

Sunsets in the Land of U.S. Dollar Hegemony
By: Michael Ballanger

Precious Metals Sector: It’s 2013 All Over Again
By: Przemyslaw Radomski, CFA

 
Search

GoldSeek Web

 
Gold Resource Corporation Expands Switchback Discovery Mineralization

 -- Published: Tuesday, 4 March 2014 | Print  | Disqus 

COLORADO SPRINGS, CO--(Marketwired - Mar 4, 2014) - Gold Resource Corporation (NYSE MKT: GORO) (the "Company") today provided an update on the Switchback discovery drill highlights at its El Aguila Project in Mexico. Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $95 million to shareholders in monthly dividends since declaring production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

The new "Switchback" discovery, announced in June 2013, is located on the Company's El Aguila Project approximately 500 meters northeast of the Company's producing La Arista polymetallic (gold, silver, and base metals) underground mine (see maps). Step-out drilling continues to expand the high-grade mineralization, which is now explored 450 meters along strike by 450 at depth, containing significant gold, silver, copper, lead and zinc. The Company continues to drill step-out and infill holes at Switchback with hopes of further expanding the known mineralized area.

SWITCHBACK DRILL RESULTS
Hole #AngleFromIntervalAuAgCuPbZn
degMetersMetersg/tg/t%%%
513023-30558.152.900.211130.051.946.03
590.252.650.05730.562.733.91
513024-20591.464.191.231250.663.444.17
513026-45745.901.600.015750.070.813.40
513028-44589.1015.472.95860.440.842.09
incl.589.101.149.82910.640.610.90
incl.600.102.2012.914101.202.494.33
513031-10448.380.390.01less than 10.050.671.94
513055-30617.302.210.101120.380.876.83
639.170.8916.951011.204.376.15
657.475.272.93720.210.633.38
incl.659.930.370.244590.050.9726.20
incl.661.071.1912.201000.441.383.20
513059-38350.771.750.07580.241.094.98
incl.350.770.530.03950.370.269.62
927.703.590.131300.523.676.15
incl.928.360.640.293651.149.9718.90
514002-35718.002.480.021550.061.638.42
723.624.660.021210.061.346.79
Assays by ALS Chemex, Vancouver, BC Canada

"We are pleased with the continued expansion of the Switchback mineralization," stated Gold Resource Corporation's CEO and President, Mr. Jason Reid. "We continue to drill this high priority target and are optimistic we may make a development decision for Switchback in the near term. Preliminary mine planning has begun with conceptual plans to access the Switchback mineralization from the producing underground Arista mine."

Barry Devlin, Vice President of Exploration for Gold Resource Corporation commented, "The new gold, silver and base metals discovery at Switchback was the success story of our 2013 drilling program at the El Aguila Project. Since the first hole, we knew the Switchback zone had excellent potential because of its similarities to our Arista vein system where we are currently producing. Switchback is a 40 to 100 meter wide alteration zone containing numerous mineralized veins associated with rhyolite dikes and hosted in andesite, similar to what we see at Arista. Switchback is also open in all directions, which increases the potential for additional high-grade discoveries."

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 six potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The Company has 53,779,369 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.

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.

Contact:

Corporate Development
Greg Patterson
303-320-7708
www.Goldresourcecorp.com

| Digg This Article
 -- Published: Tuesday, 4 March 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus







 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2018



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.