Gold Resource Corporation Reports Preliminary First Quarter Production of 10,142 Gold Ounces and 407,625 Silver Ounces
April 20 2020 - 4:15PM
via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American:
GORO) (the “Company”)
reports preliminary
consolidated production results for the first quarter ended March
31, 2020 of 10,142 gold ounces, 407,625 silver ounces and
significant copper, lead and zinc. Gold Resource Corporation
is a gold and silver producer, developer and explorer with
operations in Oaxaca, Mexico and Nevada, USA. The Company has
returned $113 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.
Preliminary first quarter production from the
Company’s Oaxaca Mining Unit totaled 6,450 ounces of gold, 402,542
ounces of silver, 488 tonnes of copper, 2,514 tonnes of lead and
5,844 tonnes of zinc.
Preliminary first quarter production from the
Company’s Nevada Mining Unit totaled 3,692 ounces of gold from the
Isabella Pearl deposit’s lower variable grade Isabella zone.
The Company remains on schedule to access the upper portion of the
higher-grade Pearl zone mid-year 2020, when gold grades and
production are expected to gradually ramp higher into the second
half, and primarily the fourth quarter, of 2020. This ramp up
is a function of the continued removal of overburden waste above
the Pearl zone. The Isabella Pearl deposit’s average proven
and probable gold grade is 3.05 grams per tonne, with eighty
percent of the gold ounces located in the Pearl zone.
The Company withdrew its 2020 Production Outlook
on April 1, 2020 when Mexico’s federal government published a
decree mandating the temporary suspension of all non-essential
activities, including mining, until April 30, 2020 as part of a
nationwide effort to help slow the global COVID-19 pandemic.
Full financial results for the first quarter will be available at
the time the Company files its quarterly report on Form 10-Q with
the Securities and Exchange Commission.
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 $113 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, the scope, duration, and impact of the COVID-19
pandemic on mining operations, Company employees, and supply chains
as well as the scope, duration and impact of government action
aimed at mitigating the pandemic may cause the actual results and
future events to differ materially from those expressed or implied
by such forward-looking information. Also, 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 Development
Greg Patterson
303-320-7708
www.goldresourcecorp.com
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