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

CPM Group’s Jeff Christian Responds “NEGATIVELY” To The SRSrocco Report On Silver Investment Demand
By: Steve St. Angelo

Low Silver Price Creating Buying Opportunities; SilverCrest Preparing for Maiden Resource
By: Nicholas LePan, SilverSeek.com

Cryptojunkies: Beware the Ides of December
By: Michael Ballanger

This Week in Bitcoin: The IRS Targets Coinbase, Venezuela to Mint Its Own Cryptocurrency
By: Frank Holmes

Gold Seeker Closing Report: Gold and Silver Fall While Stocks Edge Higher
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 12 11 2017
By: Ira Epstein

Michael Pento: Epic Stock Market And Fixed Income Bubble Will Not End Well
By: Mike Gleason

100% Bullish Signal for Precious Metals Sector
By: Przemyslaw Radomski, CFA

Jack Chan's Weekly Precious Metals Market Update
By: Jack Chan

SWOT Analysis: Is Gold Set to Rise in 2018?
By: Frank Holmes

 
Search

GoldSeek Web

 
Gold Resource Corporation Intercepts Multiple High Grade Parallel Veins at Switchback Including 1.71 Meters Of 13.45 G/T Gold, 860 G/T Silver, 1.81% Copper, 3.52% Lead And 7.18% Zinc

 -- Published: Tuesday, 27 January 2015 | Print  | Disqus 

COLORADO SPRINGS, CO / ACCESSWIRE / January 27, 2015 / Gold Resource Corporation (NYSE MKT: GORO) (the "Company") today provided an update with new Switchback drill highlights at its El Aguila Project in Mexico. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA. The Company has returned over $102 million to shareholders in monthly dividends since commercial production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Highlights of the latest round of Switchback drill results include Hole 414067, which returned 6.12 meters grading 5.53 grams per tonne (g/t) gold and 76 g/t silver, 0.15% copper, 0.41% lead and 4.15% zinc. Hole 414067 also intercepted a second vein returning 19.34 meters grading 2.56 g/t gold, 129 g/t silver, 0.62% copper, 1.28% lead and 3.84% zinc; including 1.71 meters grading 13.45 g/t gold, 860 g/t silver, 1.81% copper, 3.52% lead and 7.18% zinc (see table below).

Hole 514057 intercepted three separate Switchback veins. The first vein returned 2.60 meters grading 0.17 g/t gold, 119 g/t silver, 0.04% copper, 1.34% lead and 6.23% zinc; the second vein returned 1.96 meters grading 1.21 g/t gold, 133 g/t silver, 0.41% copper, 2.25% lead and 8.24% zinc; while the third vein returned 3.15 meters grading 0.44% gold, 234 g/t silver, 0.86% copper, 0.99% lead and 3.24% zinc (see table below).

Four additional drill holes are reported from the latest results in the table below, all of which intercepted polymetallic mineralization containing gold, silver, copper, lead and zinc. Each reported drill intercept contains significant percentages of zinc, ranging from 2.97% to 21.30%. Base metals have the potential to off-set precious metal production costs by creating by-product credits when sold to the Company's concentrate purchaser. The table also includes previously released Switchback drill results from 2014 and 2013.

The 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 below). The Company made a decision mid-2014 to drift approximately 250 meters towards the Switchback mineralization to shorten the drill distance to the mineralized area and to provide the drill better angles to intercept the veins. This latest round of drilling focused on infill drilling the previously defined 450 meter strike by 450 meter depth mineralized horizon.

Mr. Barry Devlin, Vice President of Exploration, stated, "It is exciting to see continued high-grade polymetallic intercepts at Switchback. This latest round of infill drilling continues to define multiple meters of both precious and base metals within multiple parallel vein structures. Our immediate plan is to continue infill drilling at Switchback to further delineate these vein structures with a goal of moving Switchback to a near term development decision."

"These multiple high-grade vein intercepts at Switchback are reminiscent of early drill results at the Company's currently producing Arista deposit," observed Gold Resource Corporation's CEO and President, Mr. Jason Reid. "The latest Switchback results confirm multiple en echelon high-grade polymetallic veins similar to those being mined 500 meters away at our Arista deposit. We not only look forward to additional Switchback drill results, but towards a future Switchback production decision. We believe the Switchback discovery, coupled with our Arista deposit, speaks to the growing potential of our high-grade epithermal vein system."

 

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 at its producing Oaxaca, Mexico Mining Unit and exploration properties at its Nevada, USA, Mining Unit. The Company has 54,179,369 shares outstanding and no warrants. 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.

CONTACTS:

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


| Digg This Article
 -- Published: Tuesday, 27 January 2015 | 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 - 2017



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.