COLORADO SPRINGS, CO, April 20, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the “Company”)reports preliminary consolidated production results for the first quarter ended March 31, 2020 of 10,142 gold ounces, 407,625 silver ounces and significant copper, lead and zinc. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $113 million back to its shareholders in consecutive monthly dividends since July 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
Preliminary first quarter production from the Company’s Oaxaca Mining Unit totaled 6,450 ounces of gold, 402,542 ounces of silver, 488 tonnes of copper, 2,514 tonnes of lead and 5,844 tonnes of zinc.
Preliminary first quarter production from the Company’s Nevada Mining Unit totaled 3,692 ounces of gold from the Isabella Pearl deposit’s lower variable grade Isabella zone. The Company remains on schedule to access the upper portion of the higher-grade Pearl zone mid-year 2020, when gold grades and production are expected to gradually ramp higher into the second half, and primarily the fourth quarter, of 2020. This ramp up is a function of the continued removal of overburden waste above the Pearl zone. The Isabella Pearl deposit’s average proven and probable gold grade is 3.05 grams per tonne, with eighty percent of the gold ounces located in the Pearl zone.
The Company withdrew its 2020 Production Outlook on April 1, 2020 when Mexico’s federal government published a decree mandating the temporary suspension of all non-essential activities, including mining, until April 30, 2020 as part of a nationwide effort to help slow the global COVID-19 pandemic. Full financial results for the first quarter will be available at the time the Company files its quarterly report on Form 10-Q with the Securities and Exchange Commission.
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 returned $113 million back to its shareholders in consecutive monthly dividends since July 2010 and offers its 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, the scope, duration, and impact of the COVID-19 pandemic on mining operations, Company employees, and supply chains as well as the scope, duration and impact of government action aimed at mitigating the pandemic may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Also, 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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