COLORADO SPRINGS, CO–(Marketwired – Oct 13, 2016) – Gold Resource Corporation (NYSE:GORO) today announced drill highlights from its phase two drill campaign at the Gold Mesa exploration property located in Mineral County, Nevada.
COLORADO SPRINGS, CO–(Marketwired – Oct 13, 2016) – Gold Resource Corporation (NYSE:GORO) today announced drill highlights from its phase two drill campaign at the Gold Mesa exploration property located in Mineral County, Nevada. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $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.
Gold Resource Corporation’s phase two reverse circulation drill campaign tested six targets at its Gold Mesa property, with multiple drill holes encountering surface and near surface high-grade gold mineralization.
Gold Mesa Drill Highlights include (m=meters, g/t = grams per tonne) (see full table below):
|9.14 m of||1.16 g/t gold,||74 g/t silver|
|incl.||3.05 m of||2.41 g/t gold,||207 g/t silver|
|9.14 m of||1.14 g/t gold,|
|incl.||4.57 m of||1.73 g/t gold,|
|12.19 m of||3.34 g/t gold,|
|incl.||3.05 m of||12.78 g/t gold,|
|3.05 m of||2.64 g/t gold,|
|incl.||1.52 m of||5.12 g/t gold,|
|3.05 m of||4.86 g/t gold,|
|incl.||1.52 m of||6.39 g/t gold,|
Hole GMA-065 intercepted 9.14 meters grading 1.16 g/t gold with mineralization beginning 9.14 and 74 g/t silver meters downhole; including 3.05 meters grading 2.41 g/t gold and 207 g/t silver.
Hole GMR-067 intercepted 9.14 meters grading 1.14 g/t gold with mineralization beginning just 3.05 meters downhole; including 4.57 meters grading 1.73 g/t gold.
Hole GMA-079 intercepted 12.19 meters grading 3.34 g/t gold with mineralization beginning from the surface; including 3.05 meters grading 12.78 g/t gold.
Hole GMA-081 intercepted 3.05 meters grading 2.64 g/t gold with mineralization beginning from the surface; including 1.52 meters of 5.12 g/t gold.
Hole GMA-083 intercepted 3.05 meters grading 4.86 g/t gold with mineralization beginning from surface; including 1.52 meters of 6.39 g/t gold.
Gold Mesa phase two drill results reported in this press release add to previously reported high-grade drill results, which include 33.54 meters grading 1.89 g/t gold, 15.24 meters grading 6.27 g/t gold, and 9.1 meters grading 2.42 g/t gold (see press release dated June 14, 2016). The Gold Mesa property has potential for a high-grade gold open pit, or multiple gold open pits, with surface and near surface mineralization. A phase three drill program is currently underway, with a goal of expanding known high-grade gold zones and testing new targets.
Mr. Barry Devlin, Vice President of Exploration, stated, “Phase two drill results at Gold Mesa did not disappoint, as we continue to encounter significant gold values at shallow depths. A third drill campaign has already begun and our geologic team will incorporate the newest round of drill data into our geologic model.”
“Continued intercepts of high-grade gold at and near the surface could potentially expedite a future Gold Mesa production decision,” stated Gold Resource Corporation’s CEO and President, Mr. Jason Reid. “The potential of minimal overburden to move, lower capital expenditures required to access gold mineralization and potentially attractive return on capital metrics has us eyeing a production decision if we continue to intercept similar results in future drill campaigns as we have achieved in our first two.”