SOURCE: Gold Resource Corporation

December 10, 2007 06:00 ET

Gold Resource Corporation Drills 1 Meter of 5000 g/t Silver Within 4 Meters of 2955 g/t Silver at La Arista

DENVER, CO--(Marketwire - December 10, 2007) - Gold Resource Corporation (GRC) (OTCBB: GORO) (FRANKFURT: GIH) is pleased to announce drilling additional high-grade La Arista vein intercepts including 1 meter of 5000 grams/tonne (160.75 oz/tonne) silver within 4 meters of 2955 grams/tonne (95 oz/tonne) silver. The La Arista deposit is part of GRC's El Aguila Project in the southern state of Oaxaca, Mexico. The El Aguila Project is targeting gold production the second half of 2008 subject to timely obtaining required permits, regulatory approvals and equipment delivery schedules.

La Arista drill highlights include:

Hole 7288 (-55 deg)

--  1 meter of 2.74 g/t gold, 5000 g/t silver, 0.35% copper, 0.53% lead,
    1.60% zinc (or a gold equivalent* value of 114.37 g/t (3.68 oz/tonne))
    within,
    
--  4 meters of 1.35 g/t gold, 2955 g/t silver, 0.27% copper, 0.36% lead,
    1.08% zinc (or a gold equivalent* value of 67.78  g/t (2.18 oz/tonne))
    

Hole 7087 (-45deg)

--  6 meters of 0.73 g/t gold, 1202 g/t silver, 0.84% copper, 0.70% lead,
    1.22% zinc (or a gold equivalent* value of 31.92  g/t (1.03 oz/tonne))
    
Gold Resource Corporation's president, William W. Reid, stated, "The La Arista deposit continues to impress us with exceptionally high-grade mineralization whether in some areas higher in gold or other areas higher in silver. We have discovered at least 3 parallel, high-grade La Arista veins. With an intercept in Hole #7087 of a 6 meter width carrying a dollar value equal to 1.03 oz/tonne gold equivalent and an intercept in Hole #7288 of a 4 meter width carrying a dollar value equal to 2.18 oz/tonne gold equivalent and with all the veins open in strike and depth the La Arista deposit has excellent growth potential."


Drill results include:

Hole             From   Interval  Au   Ag   Cu   Pb   Zn   AuEq     AuEq
# (deg)          Meters  Meters   g/t  g/t   %    %    %    g/t   oz/tonne
                 ------ --------- ---- ---- ---- ---- ---- ------ ---------
7087 (-45)          105       1.0 0.30  297 0.55 0.23 0.69   9.68      0.31
7087 (-45)          106       1.0 0.62  863 1.12 1.31 2.35  27.76      0.89
7087 (-45)          107       1.5 1.36 2910 1.13 1.38 1.85  72.10      2.32
7087 (-45)        108.5       1.5 0.78 1065 0.79 0.30 0.83  27.79      0.89
7087 (-45)          110       1.0 0.24   87 0.49 0.16 0.26   4.27      0.14
7087 (-45)          111       1.0 0.54  102 0.36 0.18 0.42   4.70      0.15
7087 (-45)          112       1.0 0.07   28 0.17 0.06 0.33   1.76      0.06
7087 (-45)          113       1.0 1.34  210 0.34 0.22 1.11   8.70      0.28
7087 (-45)          114       1.0 0.48   64 0.13 0.17 0.60   3.28      0.11
7087 (-45)          115       1.0 0.86  145 0.67 0.36 0.55   7.38      0.24
7087 (-45)          116       1.0 0.81  299 1.38 0.38 0.54  12.99      0.42
Average       105 - 117      12.0 0.71  671 0.67 0.47 0.90  19.20      0.62
              --------- --------- ---- ---- ---- ---- ---- ------ ---------
Average       105 - 111       6.0 0.73 1202 0.84 0.70 1.22  31.92      1.03
              --------- --------- ---- ---- ---- ---- ---- ------ ---------

              --------- --------- ---- ---- ---- ---- ---- ------ ---------
7288 (-55)          208       1.0 2.74 5000 0.35 0.53 1.60 114.37      3.68
7288 (-55)          209       1.0 1.10 3940 0.35 0.72 2.21  90.96      2.92
7288 (-55)          210       1.0 0.63 2570 0.17 0.14 0.37  57.19      1.84
7288 (-55)          211       1.0 0.93  311 0.20 0.06 0.16   8.59      0.28
Average       208 - 212       4.0 1.35 2955 0.27 0.36 1.08  67.78      2.18
              --------- --------- ---- ---- ---- ---- ---- ------ ---------

*(Gold Equivalent (AuEq) using gold at $650/oz, silver at $14/oz, copper at $3.10/lb, lead at $1.40/lb, zinc at $1.20/lb)

Assays by ALS Chemex, Vancouver, BC Canada

Gold Resource Corporation's current drill program is focusing on the La Arista high-grade veins in order to define this mineralization. Mr. Reid stated, "Drilling continues to bolster our belief that the El Aguila Project is a potentially very large, robust and high-grade epithermal system. Having recently closed funding for the proposed El Aguila mill, Gold Resource Corporation continues to move forward on all fronts as an emerging low-cost gold producer."

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 four potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The company has 33,728,052 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