COLORADO SPRINGS, CO--(Marketwired - Dec 3, 2015) - Gold Resource Corporation (NYSE MKT: GORO) (the "Company") announced today that it has staked additional claims that more than double the Gold Mesa gold bearing property in Nevada. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA. The Company has returned over $107 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
The Company has filed claim papers with the Department of the Interior BLM and the Mineral County Recorder covering an area of approximately 2,800 acres consisting of 140 unpatented claims which surround the original Gold Mesa property in south central Nevada's Walker Lane Mineral Belt in Mineral County, Nevada, which was recently optioned by the Company. The newly staked claims more than double the land position at the Gold Mesa property, which now consists of a total of 4,580 acres significantly adding to the Company's Nevada Mining Unit exploration potential.
A small portion of Gold Mesa property claims were mined historically as an underground mine in the early 1900's and as an open pit mine in the late 1980's. More recently, as reported in Gold Resource Corporation's news release dated December 1, 2015, prior surface drilling on the property returned significant gold grades near surface, including 2.42 grams per tonne (g/t) gold over 9.1 meters starting at 7.6 meters down hole and 1.72 g/t gold over 18.3 meters starting at 36.6 meters down hole. These grades are in line with surface samples taken by the Company running as high as 2.51 g/t gold (assayed by ALS USA Inc., Reno, Nevada). The property has potential for a high grade gold open pit, or multiple gold open pits with mineralization at shallow depths below surface.
The Company is evaluating a spring 2016 drill campaign at Gold Mesa with a goal of extending known gold mineralization through infill and step-out drill holes. If future drill programs are deemed successful, the Company would consider making a production decision as soon as possible.
"We believe this additional land position at Gold Mesa provides shareholders significant exploration upside with what is now a much larger property position," stated Gold Resource Corporation's CEO and President, Mr. Jason Reid. "We took advantage of the current bear market in metals and were able to stake these additional claims. We are excited about the critical mass building as we prepare to drill this property to test the expansion potential of previous high-grade gold drill intercepts near surface."
Gold Resource Corporation's Vice President of Exploration, Mr. Barry Devlin, stated, "Our team has been very active on the exploration front the last few years making boots on the ground site visits in the United States, Mexico and as far south as Chile. The Gold Mesa property satisfies all of our evaluation criteria for an advanced stage gold exploration project, and we are quite fortunate to have staked additional claims surrounding the property. The expanded land position covers structural trends and extensions of potential gold mineralization occurring as multiple stockwork vein systems and jasperoidal horizons."
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 54,266,706 shares outstanding, no warrants, no long term debt and has returned over $107 million back to shareholders since commercial production commenced July 1, 2010. 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.
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.