Gold Resource Corporation Expands Mirador Mine With Intercepts Including 3.72 Meters Grading 1.44 g/t Gold and 990 g/t Silver...
December 11 2019 - 7:45AM
via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO)
(the “Company”) today announced the expansion of its Mirador Mine
with fifteen (15) exploration drill hole results from its 2019 Alta
Gracia projects drill program located at its Oaxaca Mining Unit,
Mexico. Highlights include 3.72 meters grading 1.44 grams per
tonne (g/t) gold and 990 g/t silver, including 1.00 meter grading
2.84 g/t gold and 2,610 g/t silver in a step down hole to known
mineralization. Gold Resource Corporation is a gold and
silver producer, developer and explorer with operations in Oaxaca,
Mexico and Nevada, USA. The Company has returned $112 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 sixteen (16) kilometers north west of the
Company’s Aguila Project and mineral processing plant.
High-grade Mirador ore is trucked to the Aguila mill for
processing. The 2019 Alta Gracia drill campaign tested
several step-out and in-fill target areas focused primarily on the
Mirador mine’s Independencia West vein. In March 2019 the
Company announced Mirador mine development crosscut six meters of
the Independencia vein which graded 992 g/t silver. The goal
of this latest drill campaign was to test the extensions of this
high-grade ore shoot (see map below).
Recent highlights from the 2019 Alta Gracia surface drill
campaign include the following intercepts (m = meters, g/t = grams
per tonne) (see full tables below):
Hole # 419003 – Independencia West Vein
(in-fill)
9.21m of 0.24 g/t
gold, 260 g/t
silverincl. 3.20m
of 0.31 g/t gold,
335 g/t silverincl.
0.73m of 0.58 g/t
gold, 1,085 g/t silver
Hole # 419007 – Unnamed veins & Independencia West Vein
(in-fill)
0.30m of 1.21 g/t
gold, 181 g/t silver
(vein)
1.38m of 4.39 g/t
gold, 1,455 g/t silver
(vein)
1.08m of 1.81 g/t
gold, 2,190 g/t silver (Independencia
West vein)
Hole # 419010 – Independencia West Vein
(step-out)
5.99m of 1.04 g/t
gold, 206 g/t
silverincl. 1.54m
of 2.02 g/t gold, 590 g/t
silver
Hole # 419012 – Independencia Vein
(step-down)
3.72m of 1.44 g/t
gold, 910 g/t
silverincl. 1.00m
of 2.84 g/t gold, 2,610
g/t silver
Hole # 419015 – Independencia Vein
(in-fill)
2.67m of 1.10 g/t
gold, 354 g/t
silverincl. 0.78m
of 0.72 g/t gold,
879 g/t
silver
Seven exploration drill holes targeted the expansion of the
Independencia West vein. Three of these drill holes expanded
the mineralization laterally, three drill holes expanded the
mineralization deeper, and one drill hole extended the
mineralization higher. Eight drill holes focused on in-fill
drilling within the Independencia West vein ore-shoot with the goal
of upgrading mineralized material into the proven and probable
category. While the Independencia West vein was the primary
target, nearly every drill hole intercepted multiple, parallel
veins.
ALTA GRACIA MIRADOR MINE – INDEPENDENCIA WEST VEIN2019
DRILL RESULTS SUMMARY |
Hole # |
Angle |
Vein |
|
From |
Interval |
Au |
Ag |
Direction |
deg |
|
Meters |
Meters |
g/t |
g/t |
419001 |
-19 |
Independencia West |
|
125.34 |
0.69 |
0.35 |
662 |
Step-out |
|
incl. |
125.34 |
0.31 |
0.60 |
1,190 |
419002 |
-20 |
Independencia West |
|
119.88 |
0.83 |
0.15 |
87 |
In-fill |
Vein |
|
135.92 |
0.31 |
1.27 |
284 |
419003 |
12.5 |
San Juan NW2 |
|
62.03 |
0.38 |
0.43 |
185 |
In-fill |
Vein |
|
73.14 |
0.96 |
0.16 |
82 |
San Juan NW1 |
|
79.52 |
0.88 |
0.49 |
280 |
Vein |
|
149.47 |
0.75 |
0.07 |
96 |
Independencia West |
|
173.92 |
9.21 |
0.24 |
260 |
incl. |
173.92 |
3.20 |
0.31 |
335 |
incl. |
182.40 |
0.73 |
0.58 |
1,085 |
419004 |
10 |
San Juan NW6 |
|
2.34 |
0.62 |
0.20 |
71 |
In-fill |
Vein |
|
27.40 |
0.28 |
0.75 |
596 |
Vein |
|
112.35 |
1.25 |
0.16 |
205 |
Independencia West |
|
154.54 |
1.53 |
0.09 |
181 |
incl. |
154.99 |
1.08 |
0.10 |
207 |
419005 |
10.2 |
San Juan NW5 |
|
26.36 |
1.13 |
0.57 |
287 |
In-fill |
incl. |
26.36 |
0.34 |
1.37 |
641 |
Vein |
|
49.30 |
0.41 |
0.46 |
484 |
San Juan NW2 |
|
50.32 |
0.31 |
0.17 |
119 |
419006 |
11.5 |
Vein |
|
28.53 |
0.32 |
0.16 |
83 |
In-fill |
Vein |
|
31.69 |
0.31 |
0.41 |
336 |
Independencia West |
|
139.22 |
1.92 |
0.12 |
182 |
incl. |
140.20 |
0.94 |
0.15 |
269 |
419007 |
-24 |
Vein |
|
16.65 |
0.30 |
1.21 |
181 |
In-fill |
Vein |
|
111.62 |
1.38 |
4.39 |
1,455 |
Independencia West |
|
118.70 |
1.08 |
1.81 |
2,190 |
419009 |
-21 |
San Juan NW1 |
|
61.21 |
0.71 |
0.99 |
172 |
In-fill |
incl. |
61.21 |
0.32 |
1.83 |
329 |
San Juan NW2 |
|
79.49 |
0.25 |
0.44 |
974 |
Vein |
|
111.68 |
0.30 |
0.54 |
211 |
Independencia West |
|
123.83 |
3.17 |
1.46 |
122 |
incl. |
123.83 |
1.17 |
3.74 |
257 |
419010 |
-32 |
Vein |
|
34.41 |
1.33 |
0.28 |
77 |
Step-out |
incl. |
35.24 |
0.50 |
0.30 |
137 |
Independencia West |
|
129.82 |
5.99 |
1.04 |
206 |
incl. |
129.82 |
1.54 |
2.02 |
590 |
419011 |
-12.5 |
Vein |
|
29.09 |
0.33 |
0.32 |
132 |
Step-out |
Vein |
|
42.73 |
0.56 |
0.50 |
120 |
419012 |
-37 |
Vein |
|
20.26 |
0.31 |
0.71 |
171 |
Step-down |
Vein |
|
37.80 |
0.30 |
0.64 |
122 |
Vein |
|
40.99 |
1.01 |
0.29 |
261 |
incl. |
40.99 |
0.29 |
0.91 |
785 |
Independencia West |
|
119.28 |
3.72 |
1.44 |
910 |
incl. |
120.06 |
1.00 |
2.84 |
2,610 |
Vein |
|
125.70 |
0.83 |
0.61 |
97 |
Vein |
|
129.17 |
1.49 |
0.32 |
124 |
Vein |
|
132.00 |
1.00 |
1.24 |
37 |
419013 |
-23.5 |
San Juan NW5 |
|
44.69 |
1.01 |
0.17 |
115 |
Step-down |
San Juan NW1 |
|
128.57 |
0.58 |
0.21 |
245 |
Vein |
|
163.23 |
0.34 |
0.13 |
174 |
Vein |
|
167.20 |
1.27 |
0.21 |
161 |
incl. |
168.10 |
0.37 |
0.56 |
443 |
Vein |
|
181.15 |
0.32 |
0.26 |
309 |
Vein |
|
185.58 |
0.48 |
0.13 |
171 |
Independencia West |
|
193.24 |
1.70 |
0.19 |
388 |
incl. |
193.24 |
0.66 |
0.31 |
694 |
Vein |
|
214.25 |
1.08 |
0.11 |
142 |
419014 |
-52.3 |
Vein |
|
29.53 |
1.47 |
1.72 |
182 |
Step-down |
incl. |
30.50 |
0.50 |
4.43 |
463 |
Vein |
|
181.83 |
0.34 |
0.63 |
190 |
419015 |
-44.5 |
San Juan NW2 |
|
45.84 |
0.31 |
0.45 |
215 |
In-fill |
Vein |
|
46.96 |
1.39 |
0.42 |
98 |
Independencia West |
|
154.92 |
2.67 |
1.10 |
354 |
incl. |
154.92 |
0.78 |
0.72 |
879 |
419018 |
-18.5 |
Vein |
|
72.47 |
0.65 |
0.80 |
102 |
Step-up |
Vein |
|
89.75 |
0.35 |
0.03 |
84 |
Independencia West |
|
98.13 |
5.38 |
0.25 |
158 |
incl. |
99.28 |
1.03 |
0.66 |
385 |
Assays by ALS, Vancouver, BC Canada. Meters downhole, not
true width |
|
Mr. Barry Devlin, Vice President of Exploration, commented, “Our
2019 drill campaign at Alta Gracia was successful in expanding the
Independencia West high-grade ore shoot, as well as demonstrating
continuity between prior drill holes. These results are
expected to replace proven and probable reserves mined at the
Mirador Mine during 2019.”
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 551 square kilometers in southern Mexico. The
Mirador Mine is the Company’s second operating underground mine,
which began production in mid-2017. The Company has
identified and modeled over 50 veins at the Alta Gracia Project at
or near its Mirador Mine.
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 $112 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 DevelopmentGreg Patterson
303-320-7708www.goldresourcecorp.com
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