DENVER, CO / ACCESSWIRE / February 2, 2021 / Gold Resource Corporation (NYSE American:GORO) (the “Company“) has intersected additional mineralization up to 250 meters above current production areas.
“I recently had the opportunity to visit the Don David Mine and see firsthand the impressive Switchback and Arista vein systems,” stated Mr. Allen Palmiere, President and CEO of Gold Resource Corporation. “These drill results, which I expect will add resources to the mineral inventory, underscore the reasons for my attraction to Gold Resource Corporation and its highly prospective ground package. We are presently taking a holistic approach to understanding and further capitalizing on the foundations laid in the areas of safety, community relations, environmental stewardship, operational excellence and organic growth. These recent drill results support the Company’s renewed commitment to invest in Oaxaca, Mexico. Our exploration team continues to do an excellent job working to expand the Don David Mine’s high-grade mineralization.”
From two underground exploration drill stations, one located in a footwall development ramp of the mine’s Switchback vein system and the other located approximately 500 meters to the northeast of the Arista vein system, twelve (12) drill holes confirmed the northern strike and up-dip extensions of the Switchback vein system.
Drill highlights include:
Hole # 520033 (35-meter step-up):
- 10.85 m grading 9.12 g/t gold, 179 g/t silver, 0.58% copper, 3.47% lead, 6.99% zinc
Hole# 520034 (35-meter step-up):
- 11.83m grading 17.56 g/t gold, 99 g/t silver, 0.78% copper, 3.73% lead, 6.31% zinc
Hole# 520036 (50-meter step-up,):
- 9.97m grading 4.43 g/t gold, 88 g/t silver, 0.35% copper, 0.84% lead, 3.24% zinc
Hole # 520010 (50-meter step-up):
- 5.87 m grading 1.51 g/t gold, 871 g/t silver, 0.15% copper, 0.46% lead, 1.01% zinc
incl.2.95 m grading 2.00 g/t gold, 1,366 g/t silver, 0.23% copper, 0.67% lead, 1.58% zinc
Hole# 520012 (100-meter step-up):
- 3.85m grading 1.66 g/t gold, 1,046 g/t silver, 0.14% copper, 0.27% lead, 0.44% zinc
incl.1.01m grading 2.52 g/t gold, 1,710 g/t silver, 0.22% copper, 0.28% lead, 0.61% zinc
- 7.06m grading 0.71 g/t gold, 286 g/t silver, 0.02% copper, 0.06% lead, 0.15% zinc
incl.1.56m grading 1.46 g/t gold, 652 g/t silver, 0.05% copper, 0.13% lead, 0.30% zinc
Hole# 520013 (50-meter step-out, 50-meter step-down):
- 9.20m grading 0.47 g/t gold, 283 g/t silver, 0.05% copper, 0.07% lead, 0.23% zinc
incl. 1.40m grading 1.14 g/t gold, 796 g/t silver, 0.12% copper, 0.10% lead, 0.29% zinc
(m=meters, g/t=gram per tonne; full drill table below)
From the underground exploration drill station located in a footwall development ramp of the mine’s Switchback vein system, five (5) drill holes confirmed the up-dip extensions of the Switchback vein system approximately 35 meters (two mine levels) above the current mine workings. The current intersections of the Selene vein suggest that the Switchback vein system, of which Selene is a constituent element, has been displaced to the northwest at shallower elevations. These intersections extend the known mineralization at Switchback at shallower depths.
Assays by ALS, Vancouver, BC Canada. Meters Down Hole, Not true width.
Plan view of Switchback mining area for reference. Note hole number 520036 is not shown but is located west of hole 520035 and is stepped out 50 degrees.
Cross Section view of Switchback mining area to provide context for elevation of holes relative to mine workings.
In addition, from the underground exploration drill station located approximately 500 meters to the northeast of the mine’s Arista vein system, seven (7) drill holes confirmed the northern strike and up-dip extensions of the Switchback vein system. Multiple en echelon veins were encountered, further extending the known mineralization at Switchback both along strike and at shallower elevations (see map).
Drill highlights in this area include:
Assays by ALS, Vancouver, BC Canada. Meters Down Hole, Not true width.
Arista Mine Cross-Sectional Views A-A’ & B-B’ (Looking Northwest)
“We are pleased with the results of drilling completed late in 2020,” stated Mr. Barry Devlin, Vice President of Exploration for Gold Resource Corporation. “Our focus was and remains identifying additional mineralization along strike and up-dip at shallower elevations above the current mine workings. Our objective is to continue to test these extensions and expand resources of this growing system, as well as infill drilling to upgrade mineralized material to proven and probable reserves. We are also encouraged by the higher precious and lower base metal grades at this elevation clearly indicating we are higher in the Switchback vein system.”
About GRC:
Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico. The Company’s focus is on unlocking the value of the mine, existing infrastructure, and large property position. 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:
Ann Wilkinson
Vice President, Investor Relations
[email protected]
www.GoldResourcecorp.com
SOURCE: Gold Resource Corporation
