SOURCE: Gold Resource Corporation

Gold Resource Corporation

October 24, 2017 16:21 ET

Gold Resource Corporation Reports 2017 Alta Gracia Exploration Drill Results, Including 1.29 Meters Grading 4.33 G/T Gold and 1,710 G/T Silver

COLORADO SPRINGS, CO--(Marketwired - Oct 24, 2017) - Gold Resource Corporation (NYSE American: GORO) (NYSE MKT: GORO) (the "Company") today announced drill highlights from its 2017 Alta Gracia drill program located in its Oaxaca Mining Unit, Mexico. Drill highlights include 1.29 meters grading 4.33 grams per tonne (g/t) gold and 1,710 g/t silver, and 1.47 meters grading 2.29 g/t gold and 708 g/t silver. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $110 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

The Alta Gracia property, which hosts the Mirador Mine, is located approximately 16 kilometers north west of the Company's Aguila Project. The 2017 Alta Gracia surface drill campaign tested four primary vein structures which outcrop at the surface.

Alta Gracia Drill Highlights include (m = meters, g/t = grams per tonne) (see full table below):

 
Hole # 417006
    0.23m of   5.17 g/t gold,   2,990 g/t silver
 
Hole # 417009
    1.06m of   1.36 g/t gold,   453 g/t silver
 
Hole # 417030
    1.47m of   2.29 g/t gold,   708 g/t silver
incl.   0.51m of   6.11 g/t gold,   1,930 g/t silver
 
Hole # 417034
    3.83m of   1.13 g/t gold,   194 g/t silver
incl.   0.71m of   4.24 g/t gold,   256 g/t silver
 
Hole # 417036
    0.98m of   0.69 g/t gold,   1,030 g/t silver
 
Hole # 417038
    1.29m of   4.33 g/t gold,   1,710 g/t silver
incl.   0.59m of   8.46 g/t gold,   3,280 g/t silver
 
Hole # 417040
    1.72m of   1.40 g/t gold,   820 g/t silver
incl.   0.46m of   1.10 g/t gold,   1,445 g/t silver
 
Hole # 417041
    0.77m of   1.13 g/t gold,   690 g/t silver
incl.   0.33m of   2.59 g/t gold,   1,215 g/t silver
                       

The 2017 Alta Gracia drill program intercepted multiple parallel high-grade gold and silver veins. The primary four vein structures were targeted for drilling because of the presence of numerous historic underground workings that previously exploited high-grade gold and silver. The 2017 drill targets were generated from previous drilling by the Company, as well as numerous chip sampling from underground workings. The data obtained from this year's drill program will be used to generate new drill targets for follow up in 2018, with a goal of defining additional mineralization to support future mining operations in conjunction with the Mirador Mine.

Mr. Barry Devlin, Vice President of Exploration, stated, "Our 2017 drill campaign at Alta Gracia was a success on many levels. We continue to see elevated levels of gold and silver in multiple drill holes at Alta Gracia. Not only did our exploration efforts intercept all four targeted primary veins, but also discovered multiple new unnamed mineralized veins. We look forward to returning to Alta Gracia in 2018 with another drill program to build on our 2017 drill success."

The Alta Gracia property is one of six potential high-grade gold and silver properties in the Company's Oaxaca Mining Unit, which includes over 684 square kilometers in southern Mexico. The Mirador Mine is the Company's second operating mine, which began production in mid-2017.

 
ALTA GRACIA
2017 DRILL RESULTS SUMMARY
Hole #   Angle   Vein       From   Interval   Au   Ag
  deg         Meters   Meters   g/t   g/t
417006   -45   Vein       46.73   1.07   0.37   114
  Vein       71.38   0.23   5.17   2,990
  Victoria       78.64   0.45   0.64   367
417009   -46   Vein       23.19   1.06   1.36   453
  Vein       132.53   0.15   1.45   464
  Vein       150.21   0.55   1.64   132
  Vein       178.53   0.13   1.60   170
417010   -44   Vein       17.43   1.05   0.43   165
    incl.   17.84   0.26   1.31   531
  Vein       28.94   2.01   0.53   98
    incl.   30.50   0.45   1.74   128
417016   -4   Vein       115.75   0.11   0.35   274
417018   -35   Vein       65.02   0.24   0.23   224
  Huaje 1       73.33   0.24   0.48   306
  Vein       84.79   0.55   0.54   557
  Vein       121.66   0.21   0.51   527
417019   -36   Huaje 1       76.36   0.29   0.30   276
  Vein       108.47   0.20   0.79   554
417022   -19   Vein       66.04   0.10   0.33   259
  Vein       100.18   0.12   0.42   705
417023   -31   Vein       63.17   0.58   0.45   399
  Vein       91.04   0.22   0.80   295
  Huaje 1       201.79   0.25   0.98   268
417024   -27   Huaje 3       66.21   0.21   0.27   255
  Vein       74.73   0.16   0.44   493
417027   -53   Vein       54.33   0.27   2.41   3
417030   -32   Vein       93.63   1.47   2.29   708
    incl.   93.63   0.51   6.11   1,930
  Vein       108.06   0.98   0.62   355
417031   -17   Vein       42.28   0.72   0.94   311
  incl.   42.28   0.32   2.00   620
417032   -1   Vein       21.30   2.35   0.30   132
    incl.   22.95   0.70   0.23   237
  Jarillas 2       127.86   1.76   0.12   158
    incl.   128.15   0.67   0.14   221
417034   4   Vein       22.23   3.83   1.13   194
    incl.   22.23   0.71   4.24   256
417035   -37   Vein       89.70   1.98   0.49   212
    incl.   90.51   0.40   1.15   334
417036   -15   Pitayos 2       15.34   2.89   0.34   106
  Vein       145.68   0.98   0.69   1,030
  Vein       161.77   0.63   0.72   203
    incl.   161.77   0.17   2.36   674
417037   -25   Vein       8.38   1.42   0.39   145
  Victoria NE       75.85   0.95   0.50   400
    incl.   76.42   0.38   0.52   768
  Vein       107.40   0.25   0.45   317
  Vein       121.93   0.20   0.77   475
  Vein       137.00   0.42   0.65   307
417038   1   Vein       1.19   0.41   0.78   202
  Vein       7.45   2.65   0.34   150
    incl.   7.45   0.39   0.50   336
    incl.   9.77   0.33   1.94   636
  Victoria NE       75.82   1.29   4.33   1,710
    incl.   75.82   0.59   8.46   3,280
417039   -16   Vein       14.63   0.24   0.22   553
  Vein       134.70   0.40   0.54   192
  Vein       138.18   0.88   0.12   137
417040   -41   Vein       87.34   0.41   0.14   513
  Vein       114.66   0.29   0.48   229
  San Juan       184.12   1.72   1.40   820
    incl.   185.38   0.46   1.10   1,445
417041   -14   Victoria       72.56   0.77   1.13   690
    incl.   73.00   0.33   2.59   1,215
  Vein       96.55   0.39   4.30   343
417044   -32   Vein       1.70   0.75   0.86   339
  incl.   2.10   0.35   1.54   622
Assays by ALS, Vancouver, BC Canada.  Meters downhole, not true width
 

About GRC:

Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has 56,891,484 shares outstanding, zero warrants and has returned $110 million back to shareholders since commercial production commenced July 1, 2010. 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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