SOURCE: Gold Resource Corporation

November 13, 2007 06:06 ET

Gold Resource Corporation's La Arista High-Grade Mineralization Extended Deeper; Associated With Significant Geomagnetic Anomaly

DENVER, CO--(Marketwire - November 13, 2007) - Gold Resource Corporation (GRC) (OTCBB: GORO) (FRANKFURT: GIH) reports additional deep La Arista high-grade intercepts including 17.40 g/t (0.56 oz/tonne) gold equivalent* over 1 meter within its El Aguila Project in Oaxaca, Mexico. All La Arista mineralization is now correlated with a distinctive geomagnetic high, based on results of a recent geophysical ground geomagnetic survey.

Gold Resource Corporation recently completed a geomagnetic survey over an approximate 2 kilometer area of its El Aguila Project. The geomagnetic survey, carried out by Zonge Geophysical of Tucson, AZ, indicates several anomalies. Two significant anomalies occur in the La Arista area. The first anomaly in the La Arista area is located over the highest grades and most extensive widths of mineralization drilled to date (See map 1). Hole #7080 intercepts include 7.5 meters of 34.27 g/tonne (1.10 oz/tonne) gold equivalent (AuEq)* within one of three zones totaling 35 meters of 17.21 grams/tonne (0.55 oz/tonne) AuEq*. Hole #7083 intercepts include 11 meters of 22.04 g/tonne (0.71 oz/tonne) AuEq*. The second important geomagnetic anomaly in this area is located about 200 meters south east from the first anomaly (See map 1) and in an area not yet explored.

Gold Resource Corporation's president William W. Reid stated, "We continue to be impressed with the La Arista area as to the width and high-grade nature of the mineralization. Additional deeper high-grade intercepts in essentially the bottom of Hole #7083 indicate we have not yet found the vertical limits to the mineralization. In addition, it bodes well that the recent geophysical survey indicates two significant geomagnetic highs in this area that potentially indicate that this mineralization has an extent and depth much greater than we previously anticipated. These distinctive geophysical anomalies may represent igneous intrusives at depth that could play a role in the source and distribution of the mineralization."

Hole #7083 recent assays include:

Hole 7083 (-45 deg)

--  1 meter of 13.10 g/t gold, 121 g/t silver, 0.23% copper, 0.22% lead,
    0.48% zinc (or a gold equivalent* value of 17.40 g/t or 0.56 oz/tonne) and
--  2 meters of 2.96 g/t gold, 664.0 g/t silver, 0.45% copper, 0.37% lead,
    0.71% zinc (or a gold equivalent* value of 19.53 g/t or 0.63 oz/tonne)
    

La Arista Hole #'s 7083 and 7080 intercepts include:

Hole               From      Interval       Au          Ag
# (deg)           Meters      Meters      g/tonne     g/tonne
---------------------------------------------------------------
7083 (-45)              168           1        2.81      1040.0
                        169           1        3.10       288.0
---------------------------------------------------------------
Average         168.0-169.0           2        2.96       664.0
---------------------------------------------------------------

---------------------------------------------------------------
                        173           1        3.28       595.0
---------------------------------------------------------------
                        215           1        4.75       220.0
                        216           1        1.09       131.0
                        217           1        3.32       288.0
                        218           1        8.25       219.0
                        219           1        1.64        28.3
                        220           1        2.37        60.2
                        221           1        0.50       114.0
                        222           1        1.00       168.0
                        223           1        0.26       157.0
                        224           1        2.08       268.0
                        225           1        3.81       181.0
---------------------------------------------------------------
Average         173.0-225.0          11        2.64       166.8
---------------------------------------------------------------

---------------------------------------------------------------
                        304           1       13.10       121.0
---------------------------------------------------------------

7080 (-45)            194.0         1.0        4.75       215.5
                      195.0         1.0        6.72       283.0
---------------------------------------------------------------
Average         194.0-196.0         2.0        5.73       249.3
---------------------------------------------------------------

                      210.5         1.0        1.41        71.7
                      211.5         0.5        3.67       378.0
                      212.0         1.0        9.17       829.5
                      213.0         1.0        2.85        62.2
                      214.0         1.0        4.19        45.4
                      215.0         1.0        8.68       765.0
                      216.0         1.0        6.01       215.5
                      217.0         1.0       21.85       233.5
                      218.0         1.0        5.49       128.4
                      219.0         1.0        2.23        54.9
                      220.0         1.0        1.49        49.3
                      221.0         1.0        0.69        27.3
                      222.0         1.0        0.51        56.4
                      223.0         1.0        1.81        96.3
---------------------------------------------------------------
Average         210.5-224.0        13.5        5.05       209.2
---------------------------------------------------------------
Average         211.5-219.0         7.5        8.01       329.1
---------------------------------------------------------------

                      230.5         1.0        1.15        13.1
                      231.5         1.0        0.42        30.5
                      232.5         1.0        1.22        28.9
                      233.5         1.0        0.90        18.6
                      234.5         1.0        1.50        57.2
                      235.5         1.0        1.52        99.7
                      236.5         1.0        1.22        27.9
                      237.5         1.0        1.17        32.5
                      238.5         1.0        4.33        76.0
                      239.5         1.0        1.32       279.0
                      240.5         1.0        0.51        65.7
                      241.5         1.0        0.47        90.3
                      242.5         1.0        1.17       121.8
                      243.5         1.0        0.46        55.4
                      244.5         1.0        0.03        13.0
                      245.5         1.0        0.23        57.9
                      246.5         1.0        0.35        67.3
                      247.5         1.0        0.25        69.9
                      248.5         1.0        0.38       214.0
                      249.5         0.5        0.48        90.0
---------------------------------------------------------------
Average         230.5-250.0        19.5        0.96        75.0
---------------------------------------------------------------
Average         230.5-244.5        14.0        1.24        71.2
---------------------------------------------------------------
Average         244.5-250.0         5.5        0.27        84.9
---------------------------------------------------------------

 Total Mineralization
---------------------------------------------------------------
7080                3 Zones        35.0        2.81       136.7
---------------------------------------------------------------


Hole                Cu          Pb          Zn         AuEq        AuEq
# (deg)             %           %           %         g/tonne    oz/tonne
---------------------------------------------------------------------------
7083 (-45)             0.73        0.63        1.23       29.11        0.94
                       0.17        0.11        0.20        9.96        0.32
---------------------------------------------------------------------------
Average                0.45        0.37        0.71       19.53        0.63
---------------------------------------------------------------------------

---------------------------------------------------------------------------
                       0.14        0.03        0.07       15.84        0.51
---------------------------------------------------------------------------

                       0.73        2.49        5.01       22.98        0.74
                       0.38        3.75        6.75       20.69        0.67
                       0.47        2.88        8.07       26.74        0.86
                       0.31        3.31       12.65       36.68        1.18
                       0.11        0.85        4.14        9.73        0.31
                       0.19        5.35        8.75       25.26        0.81
                       0.39        6.34       15.85       36.63        1.18
                       0.32        3.45        3.59       16.31        0.52
                       1.14        1.29         2.1       12.77        0.41
                       0.73        1.04        2.56       15.47        0.50
                       0.87        1.96        3.79       19.22        0.62
---------------------------------------------------------------------------
Average                0.51        2.97        6.66       22.04        0.71
---------------------------------------------------------------------------

---------------------------------------------------------------------------
                       0.23        0.22        0.48       17.40        0.56
---------------------------------------------------------------------------


7080 (-45)             0.31        0.65        1.54       13.44        0.43

                       0.51        1.09        1.93       18.78        0.60
---------------------------------------------------------------------------
Average                0.41        0.87        1.74       16.11        0.52

---------------------------------------------------------------------------

                       0.79        3.52        3.09       15.98        0.51
                       0.73        2.76        4.60       24.93        0.80
                       1.03        2.60        9.61       47.19        1.52
                       0.73        1.53       12.85       27.01        0.87
                       0.45        0.77       15.50       29.30        0.94
                       0.66        1.73        8.12       40.48        1.30
                       0.80        2.97       11.18       33.62        1.08
                       1.27        1.73        7.98       45.15        1.45
                       0.40        1.70        6.88       21.85        0.70
                       0.18        6.03        8.91       26.36        0.85
                       0.47        1.74        5.22       14.30        0.46
                       0.16        1.07        5.50       11.18        0.36
                       0.67        1.76        9.15       19.64        0.63
                       0.76        9.89       17.38       47.04        1.51
---------------------------------------------------------------------------
Average                0.65        2.84        9.16       29.00        0.93
---------------------------------------------------------------------------
Average                0.76        1.92        9.92       34.27        1.10
---------------------------------------------------------------------------

                       0.15        0.20        3.64        7.29        0.23
                       0.10        0.07        1.35        3.37        0.11
                       0.14        0.26        2.35        5.96        0.19
                       0.09        0.37        2.52        5.69        0.18
                       0.09        0.90        6.49       13.37        0.43
                       0.16        0.93        7.36       15.75        0.51
                       0.15        0.11        4.17        8.23        0.26
                       0.19        0.10        5.13        9.71        0.31
                       0.27        1.31        7.22       18.97        0.61
                       0.31        1.15        3.18       14.36        0.46
                       0.31        2.27        9.08       19.25        0.62
                       0.16        2.27        3.35       11.27        0.36
                       0.29        0.87        3.39       10.79        0.35
                       0.59        1.06        4.13       11.23        0.36
                       0.10        0.32        1.36        3.08        0.10
                       0.08        0.04        0.65        2.65        0.09
                       0.07        0.05        0.54        2.76        0.09
                       0.10        0.03        0.20        2.33        0.07
                       0.23        1.33        1.92       10.38        0.33
                       0.14        0.05        0.13        3.06        0.10
---------------------------------------------------------------------------
Average                0.19        0.70        3.49        9.13        0.29
---------------------------------------------------------------------------
Average                0.21        0.85        4.52       11.09        0.36
---------------------------------------------------------------------------
Average                0.17        0.33        0.86        4.13        0.13
---------------------------------------------------------------------------

 Total Mineralization
---------------------------------------------------------------------------
7080                   0.38        1.54        5.58       17.21        0.55
---------------------------------------------------------------------------
*(Gold Equivalent (AuEq) using gold at $650/oz, silver at $13/oz, zinc at $1.30/lb, lead at $1.60/lb, Copper at $3.60/lb)

Assays by ALS Chemex, Vancouver, BC Canada

Mr. Reid continued, "Drilling, and now geomagnetics, continues to bolster our belief that the El Aguila Project is a potentially very large, robust and high-grade epithermal system."

About GRC

Gold Resource Corporation is a mining company focused on developing gold-silver deposits that feature low operating costs and produce high returns on capital. The Company has 100% interest in four potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The company has 28,249,552 shares outstanding and no warrants. For more information, please visit GRC's website, located at www.Goldresourcecorp.com and read the Company's 10-KSB for an understanding of the risk factors involved.

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 "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 production, future expenses and future liquidity and capital resources. 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. The Company's actual results could differ materially from those discussed in this press release. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the company's 10-KSB and Form SB-2 filed with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Jason Reid
    Gold Resource Corporation
    303-320-7708