Gold Resource Corporation Reports High Grade Drill Results at the Don David Gold Mine
December 11 2023 - 6:37PM
Business Wire
Step-Out Exploration Hole Intersects 17.3
Meters at 12.54 g/t Au/Eq
Gold Resource Corporation (NYSE American: GORO) (the
“Company,” “we,” “our,” or “GRC”) is
pleased to announce the results of one of its recent step-out
exploration drill holes from its 150-hole, 34,000-meter, 2023 drill
program at Don David Gold Mine (“DDGM”). Hole 523136 shows a width
of 17.3 meters grading 12.54 g/t Au/Eq1, which includes 9.4 g/t Au
and 263 g/t Ag (15.0 m true width). The exceptional width and grade
appears to occur at the confluence of two veins (Sandy 1 and Sandy
2) that are part of the Gloria and Three sisters vein arrays in the
upper portion of the Mine, located approximately 250 meters below
surface. The program has been testing this previously unexplored
area of the deposit in order to discover and delineate potentially
high-grade resources that are more easily accessible. To date, the
results have been very encouraging and will be incorporated into a
2023 year-end resource estimate update, that will be released in Q1
2024.
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the full release here:
https://www.businesswire.com/news/home/20231211904675/en/
Perspective View of the Arista, Gloria,
Three Sisters, and Switchback Vein Systems (looking north-west).
(Graphic: Business Wire)
“This result is one of the highest-grade and most consistently
mineralized to date and continues to prove the significant
potential of the developing new resources in the Gloria / Three
Sisters vein system. In addition, these wider and higher grade
veins are closer to the surface and will further improve their
economic impact to our future mine plans,” stated Allen Palmiere,
President and CEO of the Company.
Drilling continues to identify significant ore-shoots within the
newly defined inferred resource shells of veins in the Gloria /
Three Sisters vein system, where positive results and recent
geologic interpretation have defined a robust mineralized horizon
between approximately 650 and 750 m ASL, where the Gloria and Three
Sisters veins merge. This horizon appears to be extending upwards,
highlighted by the recent results from Hole No. 523136, intersected
at an elevation of 762 m ASL. The Gloria / Three Sisters vein
system continues to remain open in all directions.
Year-to-date, more than 150 drill holes and 34,000 meters of
core have been drilled as part of the 2023 underground drill
program at the Arista mine. The program continues to successfully
advance our exploration objectives of identifying new
mineralization and defining and upgrading additional mineral
resources. All new drill results are in the process of being
incorporated into a 2023 year-end estimate update due for release
in Q1 2024.
Note: Assays are by ALS, Vancouver, BC, Canada. The Company
conducts a significant QA/QC program which includes the insertion
of certified assay standards, blanks, and duplicates in the sample
stream to ensure the assay lab results are within specified
performance levels.
About GRC:
Gold Resource Corporation is a gold and silver producer with its
operations centered on the Don David Gold Mine in Oaxaca, Mexico
and its Back Forty gold-copper development Project in Michigan,
USA. Under the direction of an experienced board and senior
leadership team, the Company’s focus is to unlock the significant
exploration upside of its mine and surrounding large land package
to the benefit of its existing infrastructure. For more
information, please visit GRC’s website, located at
www.goldresourcecorp.com and read the Company’s Annual Report on
Form 10-K for the fiscal year ended December 31, 2022, for an
understanding of the risk factors associated with its business.
Forward-Looking 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
of 1933, as amended, and Section 21E of the Exchange Act of 1934,
as amended. 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 the potential
for additional mineral resources in future mine plans and plans for
further exploration drilling in 2023. All forward-looking
statements in this press release are based upon information
available to Gold Resource Corporation as of 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. Also, there can be no assurance that production will
continue at any specific rate. Forward-looking statements are
subject to risks and uncertainties, including the possibility of
lower than anticipated revenue or higher than anticipated costs at
the Don David Gold Mine, volatility in commodity prices, and
declines in general economic conditions. Additional risks related
to the Company may be found in the periodic and current reports
filed with the SEC by the Company, including the Company’s Annual
Report on Form 10-K for the year ended December 31, 2022, which are
available on the SEC’s website at www.sec.gov.
______________________ 1 Gold equivalent (Au/Eq) g/t is
calculated based on the gold grade plus silver grade converted to
gold grade using an 84.38 ratio (determined by using current market
spot price estimates of $2,025/ounce gold and $24/ounce silver
metal prices).
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version on businesswire.com: https://www.businesswire.com/news/home/20231211904675/en/
Allen Palmiere Chief Executive Officer
Allen.Palmiere@GRC-USA.com www.goldresourcecorp.com
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