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Gold Resource Corporation (NYSE:GORO) reported drill highlights from the Switchback discovery at its El Aguila Project in Mexico. highlights include step-out Hole 515040, which returned 15.64 meters grading 2.85 grams per tonne gold, 169 g/t silver, 0.52% copper, 1.60% lead and 10.16% zinc, including 6.59 meters grading 3.02 g/t gold, 134 g/t silver, 0.67% copper, 2.42% lead and 16.14% zinc.
Drill Results:
As quoted in the press release:
The Switchback discovery, announced in June 2013, is located on the Company’s El Aguila Project approximately 500 meters northeast of the Company’s producing La Arista polymetallic (gold, silver, and base metals) underground mine (see maps below). The Company is currently drifting underground from Arista towards Switchback with a target of reaching the mineralized Switchback veins by year-end 2015. Mine development plans are in place with a goal of drawing mineral from Switchback the first half of 2016. As ongoing ramp development advances towards Switchback, a third drill station is planned for construction. This closer drill station plans for a more advantageous distance and drill angles to continue exploration at Switchback. The Company plans to commence another round of drilling later in 2015 to further explore and delineate the high-grade Switchback mineralization, while continuing to optimize the initial mine plan.
Mr. Barry Devlin, Vice President of Exploration, stated, “The latest round of drill results from Switchback continue to define multiple robust, high-grade, polymetallic veins. We are excited to commence another round of Switchback drilling this fall from a closer distance and better angle to test above the high-grade just intercepted in Hole 515040. The goal of the next phases of Switchback drilling is to upgrade current mineralized material to the reserve category, as well as continued step-outs to test the extensions of this growing high-grade epithermal system.”
“These recent Switchback drill results, including 15.64 meters of 2.85 grams per tonne gold, 169 grams per tonne silver, 0.52% copper, 1.60% lead and 10.16% zinc, remind me of the exciting evolution of the Arista discovery and its early delineation phase,” stated Gold Resource Corporation’s CEO and President, Mr. Jason Reid. “There is a very good chance we have found the next Arista deposit at Switchback, or perhaps it’s an extension of Arista, which speaks to the growing potential of this epithermal system. Our plan to touch the mineralization by yearend could see us pulling tonnes for mill feed during the first half of 2016.”
Click here to read the Gold Resource Corporation (NYSE:GORO) press release
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