Nevada Mining Unit Exploration

Gold Resource Corporation's Nevada Mining Unit controls approximately 12,200 acres of exploration and development land in south central Nevada's Walker Lane Mineral Belt. The Company is working towards a production decision and production from the Isabella Pearl Project.

ISABELLA PEARL

Isabella Pearl is located within the Walker Lane Mineral Belt, Nevada, U.S.A. It is in advanced stage engineering and permitting for a potential open pit heap leach project with low estimations of project capital expenditures. The project contains third party Proven and Probable reserves estimated at 2,733,500 tonnes grading 2.18 grams per tonne, which equates to 191,400 gold ounces (report completed by Mine Development Associates, Reno, Nevada; see table below). Future production development anticipates two adjacent open pits with the Isabella pit averaging approximately 1 gram per tonne gold with mineral outcropping at the surface, and the Pearl pit averaging approximately 3.7 grams per tonne gold with a higher grade core averaging nearly 5 grams per tonne gold. The project estimates an average 5:1 strip ratio with metallurgical tests estimating gold recoveries for crushed oxide rock between 80 and 85 percent using conventional heap leaching. Small amounts of silver are expected in recoveries, which would be treated as by-product credits against gold production costs. The Company is working towards a production decision as soon as possible.

View the full press release on Isabella Pearl.

MINA GOLD

Mina Gold is located in the Walker Lane Mineral Belt, Nevada, U.S.A. The property has a third party mineralized material estimate of 1,606,000 tonnes grading 1.88 g/t gold in the property’s "Monster Zone". The Monster Zone consists of parallel structures approximately 45 meters apart which remain open on strike and depth. The Monster Zone mineralization is covered by patented claims, which are surrounded by multiple unpatented claims included in the transaction, giving additional exploration upside potential along this mineralized trend.

View the full press release on Mina Gold.

GOLD MESA

Gold Mesa is located in the Walker Lane Mineral Belt, Nevada, U.S.A. Gold Resource Corporation optioned the property in November 2015. Gold Mesa covers an area of approximately 4,580 acres consisting of 229 unpatented claims and 3 patented claims. A small portion of the property's claims were mined historically on a small scale as an underground mine in the early 1900's and as a small open pit mine in the late 1980's. The property has potential for a high grade gold open pit, or multiple gold open pits with mineralization at shallow depths below surface. Existing infrastructure includes nearby electricity, road access and potential water from a historic well located on the property. Historical metallurgical test work by N.A. Degerstrom Inc. in 1986 showed up to 88% recovery of contained gold and up to 35% recovery of contained silver obtained by a 35 mesh grind and agglomeration.

Drill intercept highlights include;

  • 15.24 meters of 6.27 g/t gold
  • 33.54 meters of 1.89 g/t gold

View the June, 2016 press release and the December, 2015 press release.