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
|Splay 31 HW||133.50||2.50||0.44||247||0.21||0.52||1.02|
|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
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.
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.