Gold Resource Corporation Intercepts Additional Switchback High-Grade Including 4.3 Meters of 9.97 g/t Gold, 5.8 Meters of 4.87 g/t Gold and 7.7 Meters of 3.87 g/t Gold
-- Published: Monday, 10 April 2017 | Print | Disqus
COLORADO SPRINGS, CO--(Marketwired - Apr 10, 2017) - Gold Resource Corporation ( NYSE MKT : GORO ) (the "Company") today announced additional high-grade Switchback drill intercepts including 4.29 meters of 9.97 gold grams per tonne (g/t), 5.81 meters of 4.87 gold g/t and 7.69 meters of 3.87 gold g/t. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $109 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 Switchback vein system is comprised of multiple high-grade polymetallic, epithermal veins, which makes up the northeast portion of the Arista underground mine. The eight infill drill results reported in this press release targeted the northwest, central and southeast portions of the Switchback vein system. Seven drill holes intercepted multiple polymetallic veins, while an eighth drill hole targeted the Soledad vein. The Switchback vein system remains open in all directions. See table below for full drill results.
Infill drill highlights include (m = meters, g/t = grams per tonne):
"The Switchback veins continue to show strength in grade, with both good underground mining widths and high-grade gold, silver and base metal intercepts," stated Mr. Barry Devlin, Vice President of Exploration for Gold Resource Corporation. "The continuation of multiple polymetallic en echelon veins speak to the tremendous power of this large epithermal system."
SWITCHBACK INFILL DRILL RESULTS APRIL 2017
Hole #
Angle
Vein
From
Interval
Au
Ag
Cu
Pb
Zn
deg
Meters
Meters
g/t
g/t
%
%
%
516149
-6
Soledad
149.79
8.01
1.82
69
0.36
0.75
5.01
Incl.
151.56
1.12
4.84
33
0.63
1.16
11.00
Incl.
155.22
1.92
2.60
201
0.22
1.59
9.17
161.00
1.16
0.96
64
0.93
3.54
6.39
Incl.
161.72
0.44
1.38
84
0.92
8.71
10.40
163.16
21.87
0.78
85
0.49
2.07
5.65
Incl.
166.48
1.97
2.59
209
0.38
0.40
7.24
Incl.
170.22
0.55
0.23
109
0.55
5.62
8.14
Incl.
176.67
4.63
0.89
115
0.70
5.71
11.68
Incl.
184.12
0.91
0.74
118
0.81
3.86
10.37
Soledad Splay
190.54
1.22
0.47
26
0.44
2.36
4.33
Soledad Splay
195.09
0.34
1.92
31
0.35
1.14
4.95
Sofia
227.00
0.50
0.76
58
1.08
3.30
6.19
Sabrina
233.82
0.75
1.05
87
0.60
1.12
1.95
Vein
254.78
0.39
0.39
97
0.52
11.45
7.10
Sagrario
313.12
3.28
1.82
24
0.21
0.19
2.96
Incl.
314.70
0.52
4.85
20
0.23
0.10
0.66
Sagrario Splay
322.15
2.33
0.33
122
0.56
0.80
3.09
516151
10
Soledad
194.37
6.31
2.47
126
0.72
2.42
7.52
Incl.
195.01
0.77
1.09
299
0.46
5.47
26.20
516152
-20
Susana
140.85
6.65
0.71
65
0.35
0.49
3.87
Incl.
146.84
0.66
0.26
94
0.48
1.41
10.10
516153
-8
Vein
194.88
0.78
0.07
91
0.66
2.72
6.73
SB_N2
572.35
5.81
4.87
34
0.31
2.13
7.19
Incl.
574.19
0.34
5.96
16
0.15
0.74
5.94
Incl.
574.53
2.74
8.44
43
0.30
3.26
9.72
517101
-19
Soledad
148.21
2.97
0.23
65
1.57
2.10
5.88
Incl.
148.68
0.87
0.13
69
3.22
2.90
7.89
517102
-26
Soledad Splay
141.67
3.71
0.06
107
0.04
2.48
6.73
Incl.
141.67
0.60
0.01
172
0.07
0.77
10.05
Incl.
144.80
0.58
0.28
99
0.03
8.87
11.75
Soledad
154.43
5.02
0.08
99
0.21
1.75
7.91
Incl.
155.30
1.30
0.05
102
0.31
2.77
15.69
517103
-16
Vein
50.05
0.30
0.01
26
2.82
2.17
0.33
Vein
70.05
0.17
0.15
297
0.07
0.69
3.27
Silvia
102.80
0.96
0.16
235
0.18
1.06
0.94
Soledad
111.37
0.85
0.02
67
0.15
4.80
7.02
114.41
0.58
0.20
55
1.58
1.18
1.42
Soledad Splay
122.50
1.01
3.72
20
0.47
0.41
2.30
Incl.
123.32
0.19
9.03
44
0.93
1.34
4.75
Sagrario Splay
138.06
0.46
10.20
25
0.64
0.88
8.17
Sagrario
142.70
7.69
3.87
301
0.51
2.14
2.78
Incl.
142.70
1.30
21.08
116
1.65
9.89
8.47
Incl.
146.72
0.83
0.21
377
0.42
0.45
4.83
Incl.
149.34
1.05
1.64
1,314
0.81
2.30
3.42
517104
11
Silvia
84.65
2.42
0.18
69
0.73
0.95
4.20
Soledad
89.40
4.29
9.97
51
1.23
1.70
4.52
Incl.
91.06
1.90
18.63
54
1.11
2.32
6.85
Incl.
92.96
0.73
5.54
83
2.08
1.89
2.80
Assays by ALS, Vancouver, BC Canada. Meters Down Hole, Not true width.
"We are excited for our Arista Mine's continued growth with these latest Switchback vein system high-grade gold and silver results," stated Mr. Jason Reid, CEO and President of Gold Resource Corporation. "This bodes well for the Switchback vein system growing as big as, if not larger than, the Arista vein system. Mine development on several levels of Switchback continues. We target bulk tonnage mining this area in 2018, as we intend to develop a substantial portion of this exciting expansion of the Arista Mine during 2017."
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. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has 56,839,823 shares outstanding, zero warrants, zero debt and has returned over $109 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.
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.
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