Gold Resource Corporation Extends Arista Vein System High-Grade With Intercepts Including 2 Meters of 6.68 g/t Gold and 864 g...
April 09 2018 - 4:30PM
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% zincincl. 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% zincincl. 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% zincincl. 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
RESULTSApril 2018 |
Hole # |
Angle |
Vein |
|
From |
Interval |
Au |
Ag |
Cu |
Pb |
Zn |
deg |
|
Meters |
Meters |
g/t |
g/t |
% |
% |
% |
517110 |
-7 |
Splay 31 |
|
211.95 |
1.55 |
9.36 |
75 |
0.28 |
0.24 |
0.55 |
Incl. |
211.95 |
0.30 |
34.40 |
48 |
0.22 |
0.31 |
0.70 |
517111 |
-19 |
Santa Cecilia |
|
243.03 |
8.92 |
1.68 |
51 |
0.34 |
3.06 |
8.91 |
Incl. |
243.03 |
1.44 |
0.39 |
41 |
0.38 |
7.97 |
23.40 |
Incl. |
249.01 |
1.59 |
5.21 |
98 |
0.63 |
5.04 |
9.69 |
Incl. |
251.36 |
0.59 |
3.85 |
112 |
0.67 |
5.01 |
10.35 |
517116 |
-26 |
Splay 31 |
|
224.10 |
2.10 |
2.40 |
43 |
0.44 |
1.96 |
11.44 |
Incl. |
224.10 |
0.23 |
1.16 |
98 |
1.39 |
8.01 |
19.70 |
Vein |
|
229.60 |
0.90 |
0.33 |
121 |
1.78 |
3.09 |
11.55 |
517117 |
-25 |
Splay 31 |
|
223.00 |
1.24 |
1.24 |
76 |
0.18 |
7.48 |
16.42 |
Vein |
|
232.59 |
0.74 |
0.29 |
93 |
0.16 |
3.01 |
6.36 |
Vein |
|
291.43 |
0.87 |
0.03 |
53 |
1.95 |
1.06 |
2.25 |
517118 |
-23 |
Splay 31 |
|
221.59 |
4.39 |
1.97 |
117 |
0.48 |
1.72 |
7.66 |
Incl. |
222.78 |
1.27 |
5.22 |
102 |
0.37 |
3.28 |
15.20 |
Vein |
|
259.80 |
0.62 |
0.21 |
72 |
1.34 |
1.04 |
2.81 |
Vein |
|
265.81 |
1.39 |
0.46 |
69 |
0.25 |
1.52 |
10.45 |
517134 |
12.5 |
Splay 31 |
|
68.40 |
0.28 |
23.00 |
3,060 |
0.74 |
2.48 |
3.96 |
517135 |
-5.5 |
Vein |
|
11.83 |
0.37 |
0.72 |
483 |
0.27 |
0.07 |
0.44 |
517136 |
27 |
Splay 31 |
|
80.67 |
1.38 |
0.36 |
150 |
0.41 |
1.97 |
11.30 |
517138 |
27.5 |
Vein |
|
103.25 |
0.60 |
0.22 |
446 |
0.18 |
0.40 |
1.25 |
Splay 31 |
|
118.00 |
5.50 |
2.96 |
436 |
0.29 |
0.10 |
0.22 |
Incl. |
118.00 |
2.00 |
6.68 |
864 |
0.44 |
0.14 |
0.19 |
Splay 31 HW |
|
133.50 |
2.50 |
0.44 |
247 |
0.21 |
0.52 |
1.02 |
Vein |
|
146.80 |
0.90 |
2.80 |
2,280 |
0.64 |
1.40 |
2.80 |
Vein |
|
148.22 |
0.48 |
0.48 |
260 |
0.13 |
0.31 |
0.95 |
517140 |
43 |
Vein |
|
26.12 |
0.75 |
0.16 |
128 |
0.72 |
0.45 |
1.49 |
Vein |
|
30.00 |
4.50 |
0.09 |
221 |
0.45 |
0.30 |
1.07 |
Incl. |
31.52 |
0.41 |
0.17 |
271 |
1.07 |
1.75 |
6.09 |
518001 |
22.5 |
Vein |
|
10.13 |
0.69 |
0.36 |
284 |
0.21 |
0.49 |
1.16 |
Alta |
|
81.52 |
0.29 |
0.10 |
25 |
0.30 |
2.37 |
4.49 |
518002 |
54 |
Vein |
|
53.35 |
2.08 |
1.98 |
1,583 |
0.25 |
1.05 |
2.20 |
Incl. |
54.53 |
0.90 |
3.31 |
2,710 |
0.45 |
1.98 |
4.11 |
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
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 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.
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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