SOURCE: Gold Resource Corporation

Gold Resource Corporation

May 27, 2014 16:05 ET

Gold Resource Corporation Arista Intercepts Include 2.68 Meters of 11.72 G/T Gold, 748 G/T Silver and 1.41 Meters of 3.93 G/T Gold, 2,223 G/T Silver

COLORADO SPRINGS, CO--(Marketwired - May 27, 2014) -  Gold Resource Corporation (NYSE MKT: GORO) (the "Company") announces continued Arista deposit high-grade drill intercepts including 2.68 meters of 11.72 grams per tonne gold and 748 grams per tonne silver. Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $97 million to shareholders in monthly dividends since declaring production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

The Company continues to drill both infill and step-out holes testing the mineralized vein extensions at its producing Arista mine using both underground and surface drills. The Arista deposit is a high-grade polymetallic (gold, silver and base metal) epithermal vein deposit with multiple parallel en echelon veins and splays. The deposit remains open on strike and at depth.

Underground drilling continues to define the extensions of the recently discovered Santa Lucia vein, with Hole #514025 intercepting 2.68 meters of 11.72 grams per tonne gold, 748 grams per tonne silver, 1.68% copper, 2.41% lead and 4.02% zinc. The Santa Lucia vein is a parallel vein structure located approximately 60 meters northeast of the Arista vein on level 14. Underground drilling also expanded the Socorro and Splay 5 veins located at the southwest of the system returning gold grades as high as 22.90 grams per tonne and silver as high as 10,340 grams per tonne (see map).

Surface drilling southwest of the Arista deposit focused on the Aire and Splay 6 veins. Hole #1147011 intercepted the Aire vein with 2.43 meters of 3.85 grams per tonne gold and 681 grams per tonne silver. Hole #1147013 expanded the southern extension of the Aire vein, intercepting 1.41 meters of 3.96 grams per tonne gold and 1,078 grams per tonne silver. Hole #1147020 tested the northern extension of Splay 6 intercepting 2.06 meters of 1.36 grams gold an 813 grams silver. 

 
RECENT ARISTA DEPOSIT DRILL HIGHLIGHTS INCLUDE
Hole #   Angle  
Vein
      From   Interval   Au   Ag   Cu   Pb   Zn
deg   Meters   Meters   g/t   g/t   %   %   %
514009   18   Socorro       191.88   0.41   22.90   5,330   1.89   3.28   7.42
514018   -60   Vein       46.74   1.30   2.37   71   0.44   1.15   4.71
514022   -19   Splay 5       54.57   1.41   3.93   2,223   0.44   0.45   0.97
Incl.   55.70   0.28   18.25   10,340   2.00   2.11   4.56
514023   -49   Vein       46.75   0.95   5.17   125   0.43   1.70   6.45
Vein       59.62   2.78   2.36   139   0.40   1.41   4.79
Vein       79.92   3.32   3.14   102   0.33   2.90   8.16
Splay 5       127.47   0.87   0.56   316   0.21   7.78   21.80
514025   -7   Santa Lucia       60.55   2.68   11.72   748   1.68   2.41   4.02
Incl.   62.65   0.27   38.39   3,519   2.15   6.47   9.21
1147011   -45   El Aire       19.50   2.43   3.85   681   0.03   0.17   0.06
Incl.   21.13   0.80   10.70   1,865   0.07   0.50   0.13
1147013   -50   El Aire       20.60   1.41   3.96   1,078   0.06   0.18   0.38
Incl.   20.60   0.51   9.37   2,510   0.16   0.46   0.88
1147017   -55   Splay 4       269.02   0.88   2.95   738   0.18   0.77   1.18
1147019   -51   Splay 4       224.40   0.30   43.20   4,220   0.54   0.43   0.81
1147020   -63   Splay 6       81.38   2.06   1.36   813   0.22   0.22   0.49
Incl.   81.38   0.46   5.88   3,460   0.65   0.71   1.60
Vein       110.15   1.82   0.44   539   0.16   0.06   0.18
Meters down hole, not true width
Assays by ALS Chemex and GRC's Laboratory
 

"We continue to intercept high-grade gold and silver with infill and step-out holes in multiple veins at Arista," stated Gold Resource Corporation's CEO and President, Mr. Jason Reid. "I am pleased to see continued step-out intercepts including 2.68 meters of over 11 grams per tonne gold and 748 grams per tonne silver extending Santa Lucia mineralization and 1.41 meters of 3.96 grams per tonne gold and 1,078 grams per tonne silver extending the Aire vein mineralization. We believe we are in a strong position to continue adding ounces to the Arista high-grade polymetallic deposit." 

"In addition to our Arista deposit expansion focus, near term exploration targets include the feeder vein of the Aguila open pit and the Chacal Red Zone both on the El Aguila Project and prospective targets on the Las Margaritas property," stated Mr. Barry Devlin, Gold Resource Corporation Vice President of Exploration. "With the recently expanded drill budget we are in a stronger position to explore these and other prospective drill targets."

About GRC:

Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company has 100% interest in six potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The Company has 54,179,369 shares outstanding and no warrants. Gold Resource Corporation offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery. 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.

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