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Gold Resource Corporation Reports Additional High-Grade Drill Intercepts at Switchback Including 8.19 Meters of 9.07 G/T Gold and 7.96 Meters of 6.90 G/T Gold, 618 G/T Silver
Aug. 23, 2016 10:40AM PST
Gold InvestingCOLORADO SPRINGS, CO–(Marketwired – Aug 23, 2016) – Gold Resource Corporation (NYSE:GORO) today announced additional Switchback drill results from its Arista Mine at the Aguila Project. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA.
COLORADO SPRINGS, CO–(Marketwired – Aug 23, 2016) – Gold Resource Corporation (NYSE:GORO) today announced additional Switchback drill results from its Arista Mine at the Aguila Project. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in 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.
Each Switchback drill hole intercepted multiple parallel veins (see full table below).
Drill Highlights include (m=meters, g/t = grams per tonne):
| Hole # 516118 | ||||||
| 8.19m of | 9.07g/t gold, | 75g/t silver, | 1.80% copper, | 3.41% lead, | 8.78% zinc | |
| incl. | 4.61m of | 15.84g/t gold, | 80g/t silver, | 2.75% copper, | 5.07% lead, | 11.61% zinc |
| Hole # 516120 | ||||||
| 4.93m of | 3.65g/t gold, | 42g/t silver, | 0.59% copper, | 1.24% lead, | 9.36% zinc | |
| 7.96m of | 6.90g/t gold, | 618g/t silver, | 0.80% copper, | 1.20% lead, | 2.50% zinc | |
| incl. | 0.92m of | 18.15g/t gold, | 1,985g/t silver, | 0.83% copper, | 1.76% lead, | 3.40% zinc |
| 4.59m of | 4.16g/t gold, | 55g/t silver, | 0.77% copper, | 2.80% lead, | 3.59% zinc | |
| Hole # 516124 | ||||||
| 5.04m of | 1.47g/t gold, | 105g/t silver, | 1.04% copper, | 1.01% lead, | 6.39% zinc | |
The high-grade polymetallic Switchback vein system expands the currently producing Arista Mine mineralization (see map below). The Company is currently developing a second ramp to access Switchback and targets to crosscut and mine this mineral during the fourth quarter of 2016, depending on drift progression, rock competency, potential water courses and CO2 gas that may be encountered during development. Thus far no appreciable amounts of water nor gas have been encountered, though the Company does expect water management to be necessary in the future.
These infill drill results from Switchback confirm continuity of modeled veins. The Switchback vein system remains open in all directions, and the Company plans to resume exploration drilling once development has reached this vein system in the coming months. At December 31, 2015, the Company reported mineralized material at Switchback in excess of 630,000 tonnes.
Mr. Barry Devlin, Vice President of Exploration, stated, “Results for these three Switchback drill intercepts from the latest round of infill drilling continue to define multiple parallel high-grade polymetallic veins. This drilling was designed to assist mine planning for first direct vein development at Switchback. We expect to resume drilling the extensions of this expanding deposit in the coming months, with a goal of adding additional mineral along strike and depth.”
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