COLORADO SPRINGS, CO--(Marketwired - Aug 30, 2017) - Gold Resource Corporation (NYSE American: GORO) (
Gold Resource Corporation's phase five reverse circulation drill campaign followed-up on five targets previously tested at its Gold Mesa property with multiple drill holes encountering surface and near surface high-grade gold mineralization. The Company has now tested a total of eight exploration targets at Gold Mesa.
Gold Mesa Drill Highlights include (m = meters, g/t = grams per tonne) (see full table below):
4.57m of 0.82 g/t gold, 21.34m downhole
incl. 1.52m of 1.93 g/t gold, 22.86m downhole
13.72m of 0.50 g/t gold, from surface
incl. 3.05m of 1.74 g/t gold, from surface
9.14m of 1.59 g/t gold, from surface
incl. 4.57m of 2.85 g/t gold, from surface
7.62m of 0.95 g/t gold, 13.72m downhole
incl. 3.05m of 1.86 g/t gold, 16.76m downhole
3.05m of 1.49 g/t gold, 7.62m downhole
incl. 1.52m of 2.51 g/t gold, 7.62m downhole
6.10m of 0.79 g/t gold, 10.67m downhole
incl. 1.52m of 1.79 g/t gold, 10.67m downhole
Hole GMA-142 was drilled vertical intercepting 4.57 meters grading 0.82 g/t gold with mineralization beginning 21.34 meters downhole; including 1.52 meters grading 1.93 g/t gold beginning 22.86 meters downhole.
Hole GMR-150 was drilled vertical intercepting 13.72 meters grading 0.50 g/t gold from surface; including 3.05 meters grading 1.74 g/t gold from surface.
Hole GMA-151 was drilled vertical intercepting 9.14 meters grading 1.59 g/t gold from surface; including 4.57 meters grading 2.85 g/t gold from surface.
Hole GMA-157 was drilled vertical intercepting 7.62 meters grading 0.95 g/t gold with mineralization beginning 13.72 meters downhole; including 3.05 meters of 1.86 g/t gold beginning 16.76 meters downhole.
Hole GMA-162 was drilled vertical intercepting 3.05 meters grading 1.49 g/t gold with mineralization beginning 7.62 meters downhole; including 1.52 meters grading 2.51 g/t gold beginning 7.62 meters downhole.
Hole GMA-177 was drilled vertical intercepting 6.10 meters grading 0.79 g/t gold with mineralization beginning 10.67 meters downhole; including 1.52 meters grading 1.79 g/t gold beginning 10.67 meters downhole.
|GOLD MESA PHASE FIVE DRILL HIGHLIGHTS|
|Assays by Inspectorate America Corp., Sparks, Nevada, USA. Meters Down Hole, Not true width. Reverse circulation drilling.|
Gold Mesa phase five drill results reported in this press release add to previously reported high-grade drill results, which included 33.54 meters grading 1.89 g/t gold, 15.24 meters grading 6.27 g/t gold, 12.19 meters grading 2.42 g/t gold, 9.1 meters grading 2.42 g/t gold, 12.19 meters grading 3.34 g/t gold and 6.10 meters grading 2.09 g/t gold (see press releases dated June 14, 2016, October 13, 2016, March 21, 2017, and June 21, 2017). The Gold Mesa property has potential for a high-grade gold open pit, or multiple gold open pits, with surface and near surface mineralization.
Mr. Barry Devlin, Vice President of Exploration, stated, "We have now completed five successful phases of shallow drilling at Gold Mesa over the past sixteen months testing eight different targets. Each phase of drilling has encountered surface and near surface high-grade gold values, at depths typically less than 30 meters below surface. Our goal now is to begin connecting portions of these eight different targets at Gold Mesa into a larger near surface mineralized zone conducive to open pit mining, as well as test the mineralization at deeper depths."
The Gold Mesa property is part of the Company's Nevada Mining Unit, which also includes the development stage Isabella Pearl Project, the Mina Gold exploration property, and the East Camp Douglas exploration property. All four Nevada properties have surface and / or near surface high-grade gold drill intercepts and potential for future high-grade open pit heap leach operations. The Isabella Pearl Project is in advanced stage design, engineering and permitting with the goal of production at the earliest possible point in time. The Company's Nevada Mining Unit covers more than 27,000 acres in south central Nevada's Walker Lane Mineral Belt.
Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has 56,891,484 shares outstanding, zero warrants and has returned $110 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.