SOURCE: Gold Resource Corporation

March 19, 2008 11:55 ET

Gold Resource Corporation Returns 1M of 23.5 G/T Gold, 422 G/T Silver, 1M of 17.6 G/T Gold, 2230 G/T Silver and 1M of 8.07 G/T Gold, 2090 G/T Silver Within 14M of 36.95G/T (1.19 OZ/T) Gold Equivalent

DENVER, CO--(Marketwire - March 19, 2008) - Gold Resource Corporation (GRC) (OTCBB: GORO) (FRANKFURT: GIH) reports 1 meter of 23.50 g/t gold, 422 g/t silver, 1 meter of 17.60 g/t gold, 2230 g/t silver and 8.07 g/t gold, 2090 g/t silver within 14 meters of 36.95 g/t (1.19 oz/tonne) gold equivalent (AuEq) at its La Arista deposit. La Arista is part of GRC's El Aguila Project in the southern state of Oaxaca, Mexico, which is targeting gold production the second half of 2008 subject to timely obtaining the remaining required permits, regulatory approvals and equipment delivery schedules.

Recent drill highlights include:

La Arista Hole # 108006 (-70 deg)

Vein # 1

--  1 meter of 23.50 g/t gold, 422 g/t silver, 1.93% copper, 5.04% lead,
    9.83% zinc (or a gold equivalent* value of 58.73 g/t (1.89 oz/tonne)), and,
--  1 meter of 17.60g/t gold, 2230 g/t silver, 3.93% copper, 2.70% lead,
    4.70% zinc (or a gold equivalent* value of 88.37 g/t (2.84 oz/tonne)), and,
--  1 meter of 9.53 g/t gold, 546 g/t silver, 1.10% copper, 5.39% lead,
    8.86% zinc (or a gold equivalent* value of 44.02 g/t (1.42 oz/tonne)), and,
--  1 meter of 9.20 g/t gold, 306 g/t silver, 1.13% copper, 3.63% lead,
    6.97% zinc (or a gold equivalent* value of 33.63 g/t (1.08 oz/tonne)), and,
--  1 meter of 8.07 g/t gold, 2090 g/t silver, 0.95% copper, 1.45% lead,
    3.91% zinc (or a gold equivalent* value of 63.25 g/t (2.03 oz/tonne)), and,
--  1 meter of 7.87 g/t gold, 968 g/t silver, 3.25% copper, 4.15% lead,
    7.79% zinc (or a gold equivalent* value of 55.28 g/t (1.78 oz/tonne)),
    within,
--  14 meters of 8.10 g/t gold, 640 g/t silver, 1.18% copper, 3.91% lead,
    5.88% zinc (or a gold equivalent* value of 36.95 g/t (1.19 oz/tonne))
    

Hole #108006 targeted La Arista vein #1 from the east side of the ridge whereas previous holes were drilled from the west. The three intervals below were sent for priority assaying while the remaining results for this hole have not yet been received. The upper 3 meter mineralized zone of 0.25 oz/tonne gold equivalent was encountered from 100 to 103 meters down the hole and may indicate a new vein east of and parallel to La Arista Vein #1.

La Arista Vein #1 estimated true width appears to average between 8-10 meters. GRC's drill program continues to focus on defining La Arista's three primary, parallel veins and all veins remain open in both strike and depth.

Hole #108006 drill results to date (three intervals):


                       Inter-                                     AuEq*
Hole      Angle  From   val    Au     Ag   Cu    Pb    Zn   AuEq*  oz/
#         (deg) Meters Meters  g/t    g/t   %     %     %    g/t  tonne
--------- ----- ------ ------ ----- ------ ---- ----- ----- ----- -----
New Vein
--------- ----- ------ ------ ----- ------ ---- ----- ----- ----- -----
108006      -70    100      1  0.15   28.5 0.24  0.42  6.25 10.05  0.32
108006      -70    101      1  0.06   24.1 0.23  2.98  2.72  9.14  0.29
108006      -70    102      1  0.07   25.3 0.14  0.40  1.79  3.91  0.13
Average            100      3  0.09   26.0 0.20  1.27  3.59  7.70  0.25
--------- ----- ------ ------ ----- ------ ---- ----- ----- ----- -----
Vein # 1
--------- ----- ------ ------ ----- ------ ---- ----- ----- ----- -----
108006      -70    166      1  2.22   33.7 0.05  0.10  0.07  3.35  0.11

108006      -70    167      1 17.60 2230.0 3.93  2.70  4.70 88.37  2.84
108006      -70    168      1  0.87 1220.0 2.59 10.75 13.50 68.50  2.20
108006      -70    169      1  1.04  165.0 0.36  6.42  3.86 20.10  0.65
108006      -70    170      1  4.79  177.0 0.45 14.80 21.20 58.66  1.89
108006      -70    171      1 23.50  422.0 1.93  5.04  9.83 58.73  1.89
108006      -70    172      1  7.87  968.0 3.25  4.15  7.79 55.28  1.78
108006      -70    173      1  9.53  546.0 1.10  5.39  8.86 44.02  1.42
108006      -70    174      1  9.20  306.0 1.13  3.63  6.97 33.63  1.08
108006      -70    175      1  0.44   26.2 0.12  0.06  0.14  1.65  0.05
108006      -70    176      1  0.03   14.7 0.14  0.01  0.01  0.83  0.03
108006      -70    177      1  8.07 2090.0 0.95  1.45  3.91 63.25  2.03
108006      -70    178      1  0.04   14.5 0.08  0.06  0.33  1.10  0.04
108006      -70    179      1  0.47   67.7 0.17  0.13  0.76  3.63  0.12
108006      -70    180      1  2.16  720.0 0.31  0.19  0.41 19.48  0.63
Average            167     14  6.12  640.5 1.18  3.91  5.88 36.95  1.19
--------- ----- ------ ------ ----- ------ ---- ----- ----- ----- -----
Vein # 2
--------- ----- ------ ------ ----- ------ ---- ----- ----- ----- -----
108006      -70    320      1  0.73   97.0 0.12  2.32 11.15 20.71  0.67
108006      -70    321      1  0.51   86.9 0.27  2.10  4.34 11.85  0.38
108006      -70    322      1  1.82  105.0 0.34  2.04  8.53 18.96  0.61
108006      -70    323      1  0.95  228.0 0.34  0.41  0.79  8.58  0.28
Average            320      4  1.00  129.2 0.27  1.72  6.20 15.02  0.48
--------- ----- ------ ------ ----- ------ ---- ----- ----- ----- -----

*(Gold Equivalent (AuEq*) in chart 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 President William W. Reid stated, "The La Arista deposit is our most extensive mineralization drilled to date. We are pleased with the continued high-grade gold values such as 23.50, 17.60, 9.53, 9.20, 7.78 and 5.65 g/t gold and high-grade silver values of 2230, 2090, 1220, 968, and 720 g/t silver within a wide mineralized zone of over 14 meters. Currently, the La Arista deposit has ore grade mineralization in holes indicating a vertical extent of over 300 meters. Fluid inclusion studies, which relate temperature and depth of formation, along with epithermal deposit models, suggest the possibility of an additional depth extent of several hundred meters. We have recently contracted another drilling company capable of testing these lower depths. Sierra Drilling International S.A. de C.V. has mobilized to the El Aguila Project and will target La Arista's high-grade mineralization at depth to further define the mineralized zone."

Mr. Reid continued, "Our focused exploration program at El Aguila continues to reward Gold Resource Corporation with exciting high-grade gold and silver intercepts. Construction of the mine road is underway as is the Company village, Hacienda Minera Tres Palmas, which will provide housing for our staff. Gold Resource Corporation is moving 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 34,156,952 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 "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 commercial production at the El Aguila Project will be achieved in the time frames estimated, at the rates and costs estimated, or even at all. 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
    VP / Corporate Development
    303-320-7708