Gold Resource Corporation Expands High Grade Arista Mineralization With Discovery of Additional Gold Vein and Intercepts 5.55 Meters Grading 14.20 G/T Gold, Including 2.52 Meters Grading 28.63 G/T Gold
-- Published: Tuesday, 19 January 2016 | Print | Disqus
COLORADO SPRINGS, CO--(Marketwired - Jan 19, 2016) - Gold Resource Corporation (NYSE MKT: GORO) (the "Company") today announced high-grade drill results targeting the northeast extensions of its Arista deposit, with drill intercepts including 5.55 meters grading 14.20 grams per tonne (g/t) gold, including 2.52 meters grading 28.63 g/t gold in the Viridiana vein. In addition, the Company announces discovering a new vein named Marena, intercepting 3.34 meters grading 12.05 g/t gold and 3.31 meters grading 5.44 g/t gold. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA. The Company has returned over $108 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 continues to drill both infill and step-out holes testing the mineralized vein extensions at its producing Arista mine. The Arista is a high-grade polymetallic (gold, silver and base metal) epithermal vein deposit with multiple parallel en echelon veins. While testing the extensions of the Viridiana vein (previously announced in April 2015), the Company discovered an additional high-grade vein to the northeast called Marena. Hole 515093 intercepted high-grade mineralization at Viridiana with 5.55 meters grading 14.20 g/t gold and 43 g/t silver, including 2.52 meters grading 28.63 g/t gold and 85 g/t silver. Hole 515100 intercepted the new Marena vein with 3.34 meters grading 12.05 g/t gold, 150 g/t silver, 0.74% copper, 7.62% lead and 24.40% zinc, including 0.74 meters grading 37.50 g/t gold, 178 g/t silver, 1.54% copper, 12.65% lead and 30.45% zinc (see drill summary table below). Both Viridiana and Marena remain open on strike and at depth.
ARISTA DRILL RESULTS
Assays by ALS Chemex, Vancouver, BC Canada. Meters Down Hole, Not true width.
"It is not only exciting to drill additional high-grade mineralization within Arista's known veins, but also impressive to discover another new high-grade vein while testing the margins of this deposit," commented Gold Resource Corporation's Vice President of Exploration, Mr. Barry Devlin. "The multiple veins that make up the Arista deposit exhibit unique mineralization, as we see in Viridiana's high-grade gold component and Marena's polymetallic composition including a high-grade zinc phase. I believe the potential exists to discover additional high-grade veins at Arista with future drill programs testing the margins of this expanding deposit."
"Barry and our exploration team continue to do an excellent job expanding and delineating the Arista deposit vein system," stated Gold Resource Corporation's CEO and President, Mr. Jason Reid. "After six years of mining Arista, it is still very exciting to see new high-grade en echelon gold vein discoveries and continued intercepts of high grade mineralization in step-outs to known veins. The Arista mine remains our exploration focus as seen in these drill results expanding veins to the northeast, as well as Arista's heavily mineralized Switchback veins much farther to the north and east. We believe the Arista deposit continues to demonstrate it is part of a powerful mineralized system."
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 $108 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.
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