LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Price Extremes, The Trapped Fed and Scapegoats
By: Gary Christenson, The Deviant Investor

SWOT Analysis: Barrick Raises Its Dividend 40 Percent
By: Frank Holmes, US Funds

Widening Bid-Ask Spreads
By: Keith Weiner, Monetary Metals

Positive Action in the Gold Complex
By: Rambus

Precious Metals Update Video: Gold has had the highest close in years
By: Ira Epstein

Asian Metals Market Update: Feb-19-2020
By: Chintan Karnani, Insignia Consultants

Gold on the Verge of a Breakout (video update)
By: Gary Savage

Technical Scoop: Tireless melt-up, COVID-19 immunity, same themes, inconsequential debt, Greek yields, foreboding spread
By: David Chapman

Baltic Dry, Copper, Oil, Tech and China Continue to Call for Market Crash Soon...
By: Clive Maund

Gold Is Getting Ready For Its Next Breakout
By: Avi Gilburt

 
Search

GoldSeek Web

 
Gold Resource Corporation Drills High-grade Gold Including 24.38 Meters Grading 1.03 G/T At Scarlet Target Adjacent To Isabella Pearl Mine


 -- Published: Wednesday, 29 January 2020 | Print  | Disqus 

COLORADO SPRINGS, Colo., Jan. 29, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE –  Gold Resource Corporation (NYSE American: GORO)  (the “Company”) today announced multiple ore grade intercepts from its maiden drill program at the “Scarlet” target located 400 meters north west of its operating Isabella Pearl mine in Mineral County, Nevada. Near surface ore grade gold intercepts included 24.38 meters grading 1.03 grams per tonne (g/t) gold only 1.52 meters from the surface. In addition, the Company also drilled holes within the Isabella Pearl deposit’s open pit mine to better define the oxide-sulfide boundary with positive results. 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.

Isabella Pearl Scarlet Target

The Scarlet target is located approximately 400 meters north west of the Company’s Isabella Pearl mine’s ultimate projected open pit boundary (see map). The Company previously collected numerous high-grade gold surface samples and mapped several structural trends at Scarlet coincident with existing structures in the Isabella Pearl Mine’s open pit. Scarlet is the first of many mineralized targets to the north west of the Company’s operating mine. Gold Resource Corporation controls over 10 kilometers of mineralized trend in this area along the Walker Lane Mineral Belt.

Scarlet’s maiden drill program focused on a small portion of the overall Scarlet target area. This small portion lies within the current permitted Isabella Pearl mine project development area. Eleven holes returned near surface ore grade intercepts with the widest and strongest mineralization occurring to the north west (see map below). In addition to this drill program, the Company recently received its Notice of Intent permit to drill outside of the permitted Isabella Pearl mine plan area. The Company targets to test the north west extensions of this Scarlet mineralization during the 2020 exploration year.

Scarlet drill highlights from the maiden fall 2019 drill campaign include the following intercepts (m = meters, g/t = grams per tonne) (see full tables below):

Hole # IPRC-110 – Scarlet

 

10.67m of

0.67 g/t gold

incl.

1.52m of

1.32 g/t gold

incl.

1.52m of

1.21 g/t gold

 

 

 

Hole # IPRC-113 - Scarlet

 

6.10m of

1.39 g/t gold

 incl.

 3.05m of

 2.27 g/t gold

 

 22.86m of

 0.76 g/t gold

 incl.

 4.57m of

 1.65 g/t gold

 

 

 

Hole # IPRC-116 – Scarlet

 

4.57m of

0.63 g/t gold

 

33.53m of

0.44 g/t gold

 

 

 

Hole # IPRC-117 – Scarlet

 

12.19m of

0.76 g/t gold

incl.

3.05m of

1.72 g/t gold

 

 

 

Hole # IPRC-118 – Scarlet

 

24.38m of

1.03 g/t gold

incl.

4.57m of

4.10 g/t gold

 

 

 

Hole # IPRC-119 – Scarlet

 

9.14m of

0.83 g/t gold

incl.

3.05m of

1.47 g/t gold

In addition to testing Scarlet, the Company also drilled five holes into the deeper portions of the Isabella Pearl open pit to better define its oxide-sulfide boundary. Drill results and additional metallurgical testing confirmed more oxide mineralization at this boundary can be recovered through heap leach. This mineralization will be included in the upcoming 2019 year-end reserve update.

“We are excited to see the first drill program at Scarlet return very encouraging results including twenty-four meters of over one-gram per tonne gold starting just one and a half meters from the surface,” stated Mr. Barry Devlin, Vice President of Exploration. “The elevation of this Scarlet mineralization is closer in elevation to the deep high-grade in the nearby Isabella Pearl deposit. The elevation of Scarlet’s near surface mineralization may indicate less overburden removal, if we are fortunate enough to delineate a deposit, than what is necessary at Isabella Pearl. 2020 exploration goals include additional drilling at the Isabella Pearl project, specifically focused on Scarlet, as well as a first drill program at our East Camp Douglas property.”

Mr. Jason Reid, President and CEO of Gold Resource Corporation stated, “This maiden drill program at Scarlet has returned some very exciting near surface high-grade drill results, which could represent our next deposit discovered on the Isabella Pearl Project’s substantial mineralized trend. There are numerous additional targets on this trend increasing our chances of finding several more open pit heap leach deposits like our Isabella Pearl mine. We plan to be a long-term gold producer from this unique portion of the Walker Lane Mineral Belt and believe we have secured the best land packages to succeed in finding additional gold deposits at all four of our Nevada Mining Unit properties.”

Mr. Reid continued, “It is also exciting to add heap leachable and recoverable gold ounces from deep in our Isabella Pearl mine at the oxide-sulphide boundary. Intercepts including twenty-five meters of eighteen grams gold and eighty-four meters of eight grams gold are multiples of the one gram per tonne gold we are currently mining in the top of this deposit. This underscores the much higher-grade gold we expect to mine and process at our Isabella Pearl mine in the years to come.”

ISABELLA PEARL H2 2019 DRILL SUMMARY HIGHLIGHTS

Hole #

Angle

Target

 

From

Interval

Au

deg

 

Meters

Meters

g/t

IPRC-087

-90

Pearl

 

30.48

15.24

0.59

incl.

35.05

1.52

2.74

 

65.53

1.52

0.32

 

71.63

4.57

4.76

incl.

74.68

1.52

6.03

IPRC-088

-50

Pearl

 

10.67

3.05

0.38

 

79.25

16.76

1.49

incl.

83.82

3.05

2.19

incl.

89.92

1.52

2.67

IPRC-089

-75

Pearl

 

7.62

3.05

0.31

 

18.29

1.52

0.40

 

53.34

1.52

0.26

 

83.82

1.52

0.28

IPRC-090

-45

Pearl

 

96.01

83.82

8.58

incl.

99.06

24.38

22.82

IPRC-091

-45

Pearl

 

3.05

4.57

0.37

 

10.67

3.05

0.31

 

79.25

13.72

1.26

incl.

83.82

1.52

4.00

 

97.54

3.05

0.24

 

126.49

25.91

18.04

incl.

129.54

6.10

28.59

incl.

140.21

1.52

30.90

IPRC-110

-50

Scarlet

 

27.43

10.67

0.67

incl.

27.43

1.52

1.32

incl.

32.00

1.52

1.21

IPRC-111

-45

Scarlet

 

16.76

4.57

0.78

incl.

18.29

1.52

1.86

IPRC-112

-70

Scarlet

 

25.91

1.52

0.44

IPRC-113

-45

Scarlet

 

15.24

1.52

0.36

 

21.34

6.10

1.39

incl.

21.34

3.05

2.27

 

32.00

3.05

0.39

 

38.10

22.86

0.76

incl.

38.10

4.57

1.65

incl.

56.39

1.52

1.16

IPRC-114

-60

Scarlet

 

28.96

4.57

0.43

IPRC-115

-70

Scarlet

 

22.86

3.05

0.27

IPRC-116

-45

Scarlet

 

15.24

4.57

0.63

 

28.96

33.53

0.44

IPRC-117

-45

Scarlet

 

22.86

12.19

0.76

incl.

27.43

3.05

1.72

IPRC-118

-70

Scarlet

 

1.52

24.38

1.03

incl.

15.24

4.57

4.10

IPRC-119

-45

Scarlet

 

0.00

9.14

0.83

incl.

3.05

3.05

1.47

IPRC-120

-45

Scarlet

 

53.34

1.52

0.31

 

64.01

3.05

0.29

IPRC-121

-45

Scarlet

 

24.38

3.05

0.41

 

41.15

4.57

0.39

IPRC-122

-50

Scarlet

 

15.24

6.10

0.52

incl.

18.29

1.52

1.22

IPRC-123

-45

Scarlet

 

13.72

7.62

0.51

IPRC-124

-45

Scarlet

 

28.96

4.57

0.48

IPRC-125

-45

Scarlet

 

15.24

12.19

0.41

 

51.82

3.05

0.29

IPRC-126

-45

Scarlet

 

18.29

3.05

0.23

 

22.86

1.52

0.25

 

27.43

6.10

0.21

IPRC-147

-50

Isabella Pearl West

 

25.91

19.81

1.19

incl.

36.58

4.57

3.61

 

48.77

3.05

0.24

Assays by Inspectorate America Corp., Sparks, Nevada, USA. 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 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.

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b6fb6398-ddb5-48b6-8a74-18cfdf1c97c7

Legal Notice / Disclaimer: 

This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. GoldSeek.com, have based this document on information obtained from sources it believes to be reliable but which it has not independently verified; GoldSeek.com makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of GoldSeek.com only and are subject to change without notice. GoldSeek.com assume no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this Report.

Additional Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Authors have taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond our control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. The information presented in stock reports are not a specific buy or sell recommendation and is presented solely for informational purposes only. The author/publisher may or may not have a position in the securities and/or options relating thereto, & may make purchases and/or sales of these securities relating thereto from time to time in the open market or otherwise outside of the trading timeframe listed above. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. The companies mentioned herein may be sponsor of GoldSeek.com. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.


| Digg This Article
 -- Published: Wednesday, 29 January 2020 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.