Gold Resource Corporation’s Alta Gracia Project Returns 10.30 Meters Grading 1,052 g/t Silver
September 18 2018 - 7:45AM
– via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American:
GORO) (the “Company”) today announced drill highlights from its
2018 Alta Gracia drill program located at its Oaxaca Mining Unit,
Mexico. Drill highlights include 10.30 meters grading 0.85
grams per tonne (g/t) gold and 1,052 g/t silver, and 9.59 meters
grading 0.36 g/t gold and 430 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 $111 million to its shareholders in monthly
dividends since commercial production commenced July 1, 2010 and
offers its shareholders the option to convert their cash dividends
into physical gold and silver and take delivery.
The Alta Gracia Project, which hosts the Mirador Mine, is
located approximately 16 kilometers north west of the Company’s
Aguila Project and mineral processing plant. The 2018 Alta
Gracia surface drill campaign tested several target areas focusing
primarily on the Independencia and Victoria veins, located south
west of the Mirador Mine, both of which we categorized as potential
expansion areas for the Company’s producing Mirador Mine (see map
below).
Highlights from the 2018 Alta Gracia surface drill campaign
include the following intercepts (m = meters, g/t = grams per
tonne) (see full tables below):
Hole # 418001 – Independencia
Vein
10.30m of 0.85 g/t gold,
1,052 g/t silverincl.
1.10m of 1.71 g/t
gold, 3,620 g/t
silverincl. 1.90m
of 1.60 g/t gold, 1,700
g/t silver
Hole # 418014 – Victoria Vein
5.18m of 0.55 g/t
gold, 241 g/t
silverincl. 0.46m
of 1.77 g/t gold,
373 g/t
silverincl. 0.82m
of 0.83 g/t gold,
710 g/t silver
Hole # 418018 – Independencia Vein
9.59m of 0.36 g/t
gold, 430 g/t
silverincl. 1.97m
of 0.46 g/t gold,
568 g/t
silverincl. 1.60m
of 0.57 g/t gold,
909 g/t silver
Hole # 418020 – Independencia
Vein
2.70m of 1.67 g/t
gold, 901 g/t
silverincl. 1.70m
of 2.54 g/t gold, 1,405
g/t silver
Nine exploration drill holes targeted the Independencia vein,
located approximately 500 meters south west along strike from the
Company’s Mirador mine. The Company believes it has
discovered a wide, high-grade silver ore shoot within the
Independencia vein, and a significant potential expansion to the
Mirador Mine. The Company is evaluating whether to develop
this portion of the Independencia vein for mineral exploitation by
improving and extending historic mine workings in this
area.
Three exploration drill holes targeted the Victoria vein system,
all which intercepted high-grade silver. In addition, four
exploration drill holes targeted the Mirador vein system, which
included the Mirador, Jarillas and Pitayos veins. Each drill
hole intercepted multiple parallel veins, returning high-grade
silver.
ALTA GRACIA – INDEPENDENCIA
VEIN2018 DRILL RESULTS SUMMARY |
Hole # |
Angle |
Vein |
|
From |
Interval |
Au |
Ag |
deg |
|
Meters |
Meters |
g/t |
g/t |
418001 |
-6.5 |
San Juan NW1 |
|
196.43 |
0.27 |
0.63 |
124 |
Vein |
|
230.00 |
0.30 |
1.52 |
334 |
Frijolar |
|
232.05 |
2.50 |
0.20 |
83 |
incl. |
232.05 |
1.05 |
0.33 |
142 |
Independencia W |
|
243.55 |
10.30 |
0.85 |
1,052 |
incl. |
247.10 |
1.10 |
1.71 |
3,620 |
incl. |
250.10 |
1.90 |
1.60 |
1,700 |
418002 |
-25.5 |
Vein |
|
81.21 |
0.39 |
0.23 |
173 |
Vein |
|
114.64 |
0.41 |
0.16 |
239 |
Independencia W |
|
117.98 |
4.64 |
0.15 |
188 |
incl. |
120.47 |
0.88 |
0.15 |
256 |
incl. |
122.06 |
0.56 |
0.41 |
375 |
San Juan NW1 |
|
182.65 |
1.46 |
0.21 |
161 |
incl. |
183.39 |
0.72 |
0.26 |
255 |
Vein |
|
194.87 |
0.68 |
0.66 |
137 |
Vein |
|
261.60 |
0.28 |
0.35 |
164 |
418003 |
-29 |
Independencia SW |
|
91.77 |
2.49 |
0.06 |
97 |
incl. |
93.57 |
0.69 |
0.10 |
260 |
San Juan NW1 |
|
214.78 |
2.15 |
0.13 |
171 |
incl. |
215.10 |
0.50 |
0.22 |
345 |
418004 |
-29.5 |
Independencia W |
|
83.78 |
1.47 |
0.15 |
158 |
incl. |
84.12 |
0.40 |
0.19 |
317 |
San Juan NW |
|
185.76 |
1.30 |
0.47 |
89 |
incl. |
186.35 |
0.71 |
0.79 |
130 |
Vein |
|
224.65 |
0.77 |
0.48 |
381 |
Vein |
|
240.02 |
0.32 |
0.18 |
155 |
418016 |
-8 |
San Juan NW2 |
|
65.02 |
0.24 |
0.23 |
224 |
San Juan NW1 |
|
73.33 |
0.24 |
0.48 |
306 |
Independencia W |
|
234.73 |
3.10 |
0.41 |
252 |
incl. |
236.00 |
1.00 |
0.55 |
288 |
418017 |
-37 |
Independencia W |
|
152.06 |
4.92 |
0.17 |
137 |
incl. |
154.70 |
0.70 |
0.22 |
235 |
Vein |
|
192.18 |
1.13 |
0.22 |
141 |
418018 |
-27 |
Vein |
|
112.05 |
5.16 |
0.13 |
167 |
incl. |
115.64 |
1.57 |
0.23 |
359 |
Independencia W |
|
126.43 |
9.59 |
0.36 |
430 |
incl. |
128.45 |
1.97 |
0.46 |
568 |
incl. |
134.42 |
1.60 |
0.57 |
909 |
Vein |
|
160.68 |
1.30 |
0.19 |
146 |
418019 |
-18 |
Vein |
|
105.65 |
0.32 |
1.66 |
210 |
Independencia W |
|
237.92 |
2.19 |
0.12 |
92 |
418020 |
-27 |
Vein |
|
110.60 |
0.35 |
0.18 |
146 |
Vein |
|
118.05 |
0.75 |
0.19 |
155 |
Vein |
|
145.80 |
1.10 |
0.24 |
285 |
Independencia W |
|
227.30 |
2.70 |
1.67 |
901 |
incl. |
227.30 |
1.70 |
2.54 |
1,405 |
Assays by ALS, Vancouver, BC Canada.
Meters downhole, not true width |
ALTA GRACIA – VICTORIA
VEIN2018 DRILL RESULTS SUMMARY |
Hole # |
Angle |
Vein |
|
From |
Interval |
Au |
Ag |
deg |
|
Meters |
Meters |
g/t |
g/t |
418013 |
-16.5 |
Victoria NE |
|
175.43 |
1.77 |
1.26 |
337 |
incl. |
75.43 |
0.57 |
3.01 |
578 |
Victoria NE4 |
|
152.39 |
0.41 |
0.58 |
206 |
418014 |
-71.5 |
Victoria 3_2 |
|
32.27 |
5.18 |
0.55 |
241 |
incl. |
32.64 |
0.46 |
1.77 |
373 |
incl. |
33.55 |
0.82 |
0.83 |
710 |
Victoria NE |
|
99.85 |
1.00 |
0.75 |
277 |
incl. |
99.85 |
0.37 |
0.90 |
329 |
418015 |
-15 |
Vein |
|
32.58 |
1.36 |
0.26 |
187 |
incl. |
32.58 |
0.42 |
0.63 |
420 |
Victoria 3_2 |
|
44.00 |
1.09 |
0.59 |
111 |
Victoria NE |
|
106.07 |
0.93 |
0.41 |
195 |
Victoria NE4 |
|
185.20 |
1.50 |
0.28 |
270 |
incl. |
186.33 |
0.37 |
0.62 |
868 |
Assays by ALS, Vancouver, BC Canada.
Meters downhole, not true width |
ALTA GRACIA – MIRADOR, JARILLAS & PITAYOS
VEINS2018 DRILL RESULTS SUMMARY |
Hole # |
Angle |
Vein |
|
From |
Interval |
Au |
Ag |
deg |
|
Meters |
Meters |
g/t |
g/t |
418005 |
-58.5 |
Mirador |
|
19.90 |
2.47 |
0.22 |
141 |
incl. |
20.46 |
1.04 |
0.36 |
258 |
Jarillas 1 |
|
88.80 |
1.20 |
0.53 |
197 |
incl. |
89.57 |
0.43 |
1.30 |
467 |
418006 |
-71.5 |
Mirador |
|
22.55 |
3.65 |
0.33 |
130 |
incl. |
23.60 |
1.26 |
0.75 |
218 |
418008 |
-50.5 |
Pitayos 3 |
|
18.00 |
0.90 |
1.12 |
620 |
Jarillas 1 |
|
81.95 |
0.30 |
2.04 |
65 |
418011 |
-47.5 |
Jarillas 1 |
|
62.09 |
0.26 |
0.87 |
296 |
Vein |
|
94.89 |
0.89 |
0.26 |
320 |
incl. |
94.89 |
0.31 |
0.71 |
792 |
Assays by ALS, Vancouver, BC Canada.
Meters downhole, not true width |
Mr. Barry Devlin, Vice President of Exploration, commented, “Our
2018 drill campaign at Alta Gracia was a success on many fronts,
particularly the discovery of a wide, high-grade zone within the
Independencia vein system and the potential expansion to the
Mirador Mine. We also continue to see elevated levels of
silver in the Mirador vein, as well as high-grade gold and silver
within the Victoria vein system. We look forward to returning
to Alta Gracia in 2019 with another drill program to continue
expanding on these positive drill results.”
The Alta Gracia Project is one of six potential high-grade gold
and silver properties in the Company’s Oaxaca Mining Unit, which
includes over 684 square kilometers in southern Mexico. The
Mirador Mine is the Company’s second operating mine, which began
production in mid-2017.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/0f1ec63d-82ce-457d-91bc-0e1dd5bcf337
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 $111 million back to its
shareholders since commercial production commenced July 1, 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 DevelopmentGreg Patterson
303-320-7708www.goldresourcecorp.com
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