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Gold Resource Corporation Reports 2017 Alta Gracia Exploration Drill Results, Including 1.29 Meters Grading 4.33 G/T Gold and 1,710 G/T Silver

 -- Published: Tuesday, 24 October 2017 | Print  | Disqus 

COLORADO SPRINGS, CO--(Marketwired - Oct 24, 2017) - Gold Resource Corporation (NYSE American: GORO) ( NYSE MKT : GORO ) (the "Company") today announced drill highlights from its 2017 Alta Gracia drill program located in its Oaxaca Mining Unit, Mexico. Drill highlights include 1.29 meters grading 4.33 grams per tonne (g/t) gold and 1,710 g/t silver, and 1.47 meters grading 2.29 g/t gold and 708 g/t silver. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $110 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 Alta Gracia property, which hosts the Mirador Mine, is located approximately 16 kilometers north west of the Company's Aguila Project. The 2017 Alta Gracia surface drill campaign tested four primary vein structures which outcrop at the surface.

Alta Gracia Drill Highlights include (m = meters, g/t = grams per tonne) (see full table below):

 
Hole # 417006
  0.23mof 5.17g/tgold, 2,990g/tsilver
 
Hole # 417009
  1.06mof 1.36g/tgold, 453g/tsilver
 
Hole # 417030
  1.47mof 2.29g/tgold, 708g/tsilver
incl. 0.51mof 6.11g/tgold, 1,930g/tsilver
 
Hole # 417034
  3.83mof 1.13g/tgold, 194g/tsilver
incl. 0.71mof 4.24g/tgold, 256g/tsilver
 
Hole # 417036
  0.98mof 0.69g/tgold, 1,030g/tsilver
 
Hole # 417038
  1.29mof 4.33g/tgold, 1,710g/tsilver
incl. 0.59mof 8.46g/tgold, 3,280g/tsilver
 
Hole # 417040
  1.72mof 1.40g/tgold, 820g/tsilver
incl. 0.46mof 1.10g/tgold, 1,445g/tsilver
 
Hole # 417041
  0.77mof 1.13g/tgold, 690g/tsilver
incl. 0.33mof 2.59g/tgold, 1,215g/tsilver
            

The 2017 Alta Gracia drill program intercepted multiple parallel high-grade gold and silver veins. The primary four vein structures were targeted for drilling because of the presence of numerous historic underground workings that previously exploited high-grade gold and silver. The 2017 drill targets were generated from previous drilling by the Company, as well as numerous chip sampling from underground workings. The data obtained from this year's drill program will be used to generate new drill targets for follow up in 2018, with a goal of defining additional mineralization to support future mining operations in conjunction with the Mirador Mine.

Mr. Barry Devlin, Vice President of Exploration, stated, "Our 2017 drill campaign at Alta Gracia was a success on many levels. We continue to see elevated levels of gold and silver in multiple drill holes at Alta Gracia. Not only did our exploration efforts intercept all four targeted primary veins, but also discovered multiple new unnamed mineralized veins. We look forward to returning to Alta Gracia in 2018 with another drill program to build on our 2017 drill success."

The Alta Gracia property is one of six potential high-grade gold and silver properties in the Company's Oaxaca Mining Unit, which includes over 684 square kilometers in southern Mexico. The Mirador Mine is the Company's second operating mine, which began production in mid-2017.

 
ALTA GRACIA
2017 DRILL RESULTS SUMMARY
Hole # Angle Vein   From Interval Au Ag
 deg    Meters Meters g/t g/t
417006 -45 Vein   46.73 1.07 0.37 114
 Vein   71.38 0.23 5.17 2,990
 Victoria   78.64 0.45 0.64 367
417009 -46 Vein   23.19 1.06 1.36 453
 Vein   132.53 0.15 1.45 464
 Vein   150.21 0.55 1.64 132
 Vein   178.53 0.13 1.60 170
417010 -44 Vein   17.43 1.05 0.43 165
  incl. 17.84 0.26 1.31 531
 Vein   28.94 2.01 0.53 98
  incl. 30.50 0.45 1.74 128
417016 -4 Vein   115.75 0.11 0.35 274
417018 -35 Vein   65.02 0.24 0.23 224
 Huaje 1   73.33 0.24 0.48 306
 Vein   84.79 0.55 0.54 557
 Vein   121.66 0.21 0.51 527
417019 -36 Huaje 1   76.36 0.29 0.30 276
 Vein   108.47 0.20 0.79 554
417022 -19 Vein   66.04 0.10 0.33 259
 Vein   100.18 0.12 0.42 705
417023 -31 Vein   63.17 0.58 0.45 399
 Vein   91.04 0.22 0.80 295
 Huaje 1   201.79 0.25 0.98 268
417024 -27 Huaje 3   66.21 0.21 0.27 255
 Vein   74.73 0.16 0.44 493
417027 -53 Vein   54.33 0.27 2.41 3
417030 -32 Vein   93.63 1.47 2.29 708
  incl. 93.63 0.51 6.11 1,930
 Vein   108.06 0.98 0.62 355
417031 -17 Vein   42.28 0.72 0.94 311
 incl. 42.28 0.32 2.00 620
417032 -1 Vein   21.30 2.35 0.30 132
  incl. 22.95 0.70 0.23 237
 Jarillas 2   127.86 1.76 0.12 158
  incl. 128.15 0.67 0.14 221
417034 4 Vein   22.23 3.83 1.13 194
  incl. 22.23 0.71 4.24 256
417035 -37 Vein   89.70 1.98 0.49 212
  incl. 90.51 0.40 1.15 334
417036 -15 Pitayos 2   15.34 2.89 0.34 106
 Vein   145.68 0.98 0.69 1,030
 Vein   161.77 0.63 0.72 203
  incl. 161.77 0.17 2.36 674
417037 -25 Vein   8.38 1.42 0.39 145
 Victoria NE   75.85 0.95 0.50 400
  incl. 76.42 0.38 0.52 768
 Vein   107.40 0.25 0.45 317
 Vein   121.93 0.20 0.77 475
 Vein   137.00 0.42 0.65 307
417038 1 Vein   1.19 0.41 0.78 202
 Vein   7.45 2.65 0.34 150
  incl. 7.45 0.39 0.50 336
  incl. 9.77 0.33 1.94 636
 Victoria NE   75.82 1.29 4.33 1,710
  incl. 75.82 0.59 8.46 3,280
417039 -16 Vein   14.63 0.24 0.22 553
 Vein   134.70 0.40 0.54 192
 Vein   138.18 0.88 0.12 137
417040 -41 Vein   87.34 0.41 0.14 513
 Vein   114.66 0.29 0.48 229
 San Juan   184.12 1.72 1.40 820
  incl. 185.38 0.46 1.10 1,445
417041 -14 Victoria   72.56 0.77 1.13 690
  incl. 73.00 0.33 2.59 1,215
 Vein   96.55 0.39 4.30 343
417044 -32 Vein   1.70 0.75 0.86 339
 incl. 2.10 0.35 1.54 622
Assays by ALS, Vancouver, BC Canada.  Meters downhole, not true width
 

About GRC:

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.

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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 -- Published: Tuesday, 24 October 2017 | E-Mail  | Print  | Source: GoldSeek.com

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