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Gold Resource Corporation Extends Arista Vein System High-Grade With Intercepts Including 2 Meters of 6.68 g/t Gold and 864 g/t Silver

 -- Published: Monday, 9 April 2018 | Print  | Disqus 

COLORADO SPRINGS, Colo., April 09, 2018 (GLOBE NEWSWIRE) -- Gold Resource Corporation (NYSE American:GORO) (the “Company”) today announced the northwest expansion of the Arista Mine’s Arista vein system with twelve additional step-out and infill drill holes.  Intercepts include 2.00 meters of 6.68 grams per tonne (g/t) gold and 864 g/t silver; 2.08 meters of 1.98 g/t gold and 1,583 g/t silver; and 1.55 meters of 9.36 g/t gold and 75 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.

From two underground exploration drill pads located on level 4 in the Arista Mine’s Arista vein system, twelve drill holes intercepted multiple veins including Splay 31, Santa Cecilia, Alta and additional new veins yet to be named (see table and map below).  These drill holes extend the known mineralization of the Arista vein system along strike to the northwest and both up and down-dip.  The veins in this area of the Arista Mine remain open.

Drill highlights include (m=meters, g/t=gram per tonne; full drill table below):

Hole# 517110, step-out hole extending Splay 31 strike length by 50 meters to northwest:

  • 1.55m of 9.36 g/t gold, 75 g/t silver, 0.28% copper, 0.24% lead, 0.55% zinc
    incl. 0.30m of 34.40 g/t gold, 48 g/t silver, 0.22% copper, 0.31% lead, 0.70% zinc

Hole# 517111, step-down hole extending Santa Cecilia down-dip by 55 meters to the northwest:

  • 8.92m of 1.68 g/t gold, 51 g/t silver, 0.34% copper, 3.06% lead, 8.91% zinc
    incl. 1.59m of 5.21 g/t gold,  98 g/t silver, 0.63% copper, 5.04% lead, 9.69% zinc

Hole# 517138, step-up hole extending Splay 31 up-dip by 65 meters above previously mined stopes to the southeast:

  • 5.50m of 2.96 g/t gold, 436 g/t silver, 0.29% copper, 0.10% lead, 0.22% zinc
    incl. 2.00m of 6.68 g/t gold, 864 g/t silver, 0.44% copper, 0.14% lead, 0.19% zinc
 
ARISTA VEIN SYSTEM DRILL RESULTS
April 2018
Hole #AngleVein FromIntervalAuAgCuPbZn
deg MetersMetersg/tg/t%%%
517110-7Splay 31 211.951.559.36750.280.240.55
Incl.211.950.3034.40480.220.310.70
517111-19Santa Cecilia 243.038.921.68510.343.068.91
Incl.243.031.440.39410.387.9723.40
Incl.249.011.595.21980.635.049.69
Incl.251.360.593.851120.675.0110.35
517116-26Splay 31 224.102.102.40430.441.9611.44
Incl.224.100.231.16981.398.0119.70
Vein 229.600.900.331211.783.0911.55
517117-25Splay 31 223.001.241.24760.187.4816.42
Vein 232.590.740.29930.163.016.36
Vein 291.430.870.03531.951.062.25
517118-23Splay 31 221.594.391.971170.481.727.66
Incl.222.781.275.221020.373.2815.20
Vein 259.800.620.21721.341.042.81
Vein 265.811.390.46690.251.5210.45
51713412.5Splay 31 68.400.2823.003,0600.742.483.96
517135-5.5Vein 11.830.370.724830.270.070.44
51713627Splay 31 80.671.380.361500.411.9711.30
51713827.5Vein 103.250.600.224460.180.401.25
Splay 31 118.005.502.964360.290.100.22
Incl.118.002.006.688640.440.140.19
Splay 31 HW 133.502.500.442470.210.521.02
Vein 146.800.902.802,2800.641.402.80
Vein 148.220.480.482600.130.310.95
51714043Vein 26.120.750.161280.720.451.49
Vein 30.004.500.092210.450.301.07
Incl.31.520.410.172711.071.756.09
51800122.5Vein 10.130.690.362840.210.491.16
Alta 81.520.290.10250.302.374.49
51800254Vein 53.352.081.981,5830.251.052.20
Incl.54.530.903.312,7100.451.984.11
Assays by ALS, Vancouver, BC Canada.  Meters Down Hole, Not true width.  “HW” = Hanging Wall.
 

“It is great to see the Arista vein system’s mineralization expand again to the northwest and both up and down-dip within this swarm of veins,” stated Mr. Barry Devlin, Vice President of Exploration for Gold Resource Corporation.  “The known veins in this area had previously pinched down in width and to see them begin to swell again to form a new ore-shoot, along with adding new additional veins, is exciting.  We look forward to testing the extensions of both these known and yet to be named veins as the Arista Mine continues to grow.”

A photo accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/1744856b-984b-4e10-8c63-507c43cae177

About GRC:

Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.  The Company targets low capital expenditure projects with potential for generating high returns on capital.  The Company has 57,107,884 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.

Contacts:
Corporate Development
Greg Patterson
303-320-7708
www.goldresourcecorp.com

 


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