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Gold Resource Corporation (NYSE:GORO) announced high-grade drill results targeting the northeast extensions of its Arista deposit, with drill intercepts including 5.55 meters grading 14.20 grams per tonne (g/t) gold, including 2.52 meters grading 28.63 g/t gold in the Viridiana vein.
Gold Resource Corporation (NYSE:GORO) announced high-grade drill results targeting the northeast extensions of its Arista deposit, with drill intercepts including 5.55 meters grading 14.20 grams per tonne (g/t) gold, including 2.52 meters grading 28.63 g/t gold in the Viridiana vein.
As quoted in the press release:
In addition, the Company announces discovering a new vein named Marena, intercepting 3.34 meters grading 12.05 g/t gold and 3.31 meters grading 5.44 g/t gold. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA. The Company has returned over $108 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.
The Company continues to drill both infill and step-out holes testing the mineralized vein extensions at its producing Arista mine. The Arista is a high-grade polymetallic (gold, silver and base metal) epithermal vein deposit with multiple parallel en echelon veins. While testing the extensions of the Viridiana vein (previously announced in April 2015), the Company discovered an additional high-grade vein to the northeast called Marena. Hole 515093 intercepted highgrade mineralization at Viridiana with 5.55 meters grading 14.20 g/t gold and 43 g/t silver, including 2.52 meters grading 28.63 g/t gold and 85 g/t silver. Hole 515100 intercepted the new Marena vein with 3.34 meters grading 12.05 g/t gold, 150 g/t silver, 0.74% copper, 7.62% lead and 24.40% zinc, including 0.74 meters grading 37.50 g/t gold, 178 g/t silver, 1.54% copper, 12.65% lead and 30.45% zinc (see drill summary table below). Both Viridiana and Marena remain open on strike and at depth.
Gold Resource Corporation Vice President of Exploration, Barry Devlin, stated:
It is not only exciting to drill additional high-grade mineralization within Arista’s known veins, but also impressive to discover another new high-grade vein while testing the margins of this deposit. The multiple veins that make up the Arista deposit exhibit unique mineralization, as we see in Viridiana’s high-grade gold component and Marena’s polymetallic composition including a high-grade zinc phase. I believe the potential exists to discover additional high-grade veins at Arista with future drill programs testing the margins of this expanding deposit.
Gold Resource Corporation CEO and President, Jason Reid, stated:
Barry and our exploration team continue to do an excellent job expanding and delineating the Arista deposit vein system. After six years of mining Arista, it is still very exciting to see new high-grade en echelon gold vein discoveries and continued intercepts of high grade mineralization in step-outs to known veins. The Arista mine remains our exploration focus as seen in these drill results expanding veins to the northeast, as well as Arista’s heavily mineralized Switchback veins much farther to the north and east. We believe the Arista deposit continues to demonstrate it is part of a powerful mineralized system.
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