COLORADO SPRINGS, CA--(Marketwired - Apr 14, 2016) - Gold Resource Corporation (NYSE MKT: GORO) (the "Company") announced today it has commenced its first exploration drill campaign at the Gold Mesa property located in Mineral County, Nevada. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA. The Company has returned $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 Bureau of Land Management approved a permit granting Gold Resource Corporation access to 30 drill sites on the Gold Mesa property. The initial exploration drill program will consist of approximately 2,000 meters of drilling, with a goal of extending previously known near surface gold mineralization through infill and step-out drill holes.
Historic drill intercepts include (as reported in Gold Resource Corporation's news release dated December 1, 2015):
- 2.42 g/t Au & 94 g/t Ag over 9.1 m starting 7.6 m down hole, including 8.14 g/t Au & 45 g/t Ag over 1.5 m
- 1.72 g/t Au over 18.3 m starting 36.6 m down hole, including 8.92 g/t Au & 25 g/t Ag over 3.0 m
- 2.34 g/t Au over 6.1 m starting 3.0 m down hole
The 4,580 acre Gold Mesa property is located in south central Nevada's Walker Lane Mineral Belt in Mineral County, Nevada. A small portion of the Gold Mesa property was mined historically as an underground mine in the early 1900's and as an open pit mine in the late 1980's. The Gold Mesa property has potential for a near surface high-grade gold open pit, or multiple gold open pits.
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 $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.