Gold Resource Corporation Mirador Mine Development Crosscuts 6 Meters of 992 Grams Per Tonne Silver
March 21 2019 - 4:00PM
via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO)
(the “Company”) today announced ongoing Mirador Mine development
crosscut six (6) meters of the Independencia vein which assayed 992
grams per tonne (g/t) silver. Mineral from this new area is
now being processed at the Company’s milling facility.
Earlier drill results from this area included 13.3 meters of 1,055
g/t silver and 2.70 meters of 1.67 g/t gold and 901 g/t
silver. The Mirador Mine is located on the Company’s Alta
Gracia Project within its Oaxaca Mining Unit. Gold Resource
Corporation is a gold and silver producer, developer and explorer
with operations in Oaxaca, Mexico and Nevada, U.S.A. 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.
To date, the Company has identified and modelled over 49 veins
at the Alta Gracia Project at or near its Mirador Mine. The
Company commenced initial mine operations at Mirador in mid-2017 by
enlarging and improving historic mine workings to access the
primary Mirador vein structure and further develop the mine.
In September 2018, the Company began improving old workings to
create a second access to the vein system called Independencia
Portal. This new portal is located approximately 500 meters
southwest of the Mirador Portal. Development has now allowed
access to the high-grade mineralization discovered within the
Mirador’s Independencia vein during a 2018 drill campaign (see
September 18, 2018 Company Press Release).
The Mirador Mine has been developed entirely using
cash from operations. The Company spent over 5 months
developing this Independencia Portal and recently crosscut this
vein system for the first time. Channel samples taken of the
Independencia vein sampled 6 meters of 992 g/t silver, while the
opposite side of the crosscut sampled 5 meters of 572 g/t
silver. The Company is mining, trucking and processing this
ore at the Aguila mill.
“We are very excited to have a second access at
the Mirador and that mine development finally intercepted this
wide, high-grade vein,” stated Mr. Jason Reid, President and CEO of
Gold Resource Corporation. “To cut a face with ruby silver
grading close to a kilo over six meters is exciting. Feeding
that ore now to the mill is even better. A small portion of
our Oaxaca Mining Unit’s 2019 silver production is targeted from
the Mirador Mine; however, if these grades and vein widths remain
for an extended period of time, the Mirador Mine could play a
larger role in our 2019 production results.”
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 Development
Greg Patterson
303-320-7708
www.goldresourcecorp.com
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