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Gold Resource Corp acquires high grade Nevada project

Last updated: 14:06 15 Aug 2016 BST, First published: 08:45 15 Aug 2016 BST

Gold-plus-dollars
Gold Resource Corp is beginning to build a serious profile in Nevada

Gold Resource Corporation (NYSE:GORO) has acquired a 100% interest in the Isabella Pearl gold project in Mineral County Nevada from a private party.

Isabella Pearl is known to contain proven and probable reserves of nearly 200,000 ounces of gold grading an average of 2.18 grams per tonne.

It’s envisaged that mining would take place via an open pit and that processing would be undertaken using standard heap leaching technology.

The project lies 15 miles northwest of Gold Resource Corp’s Gold Mesa property and will be added to the company’s existing Nevada Mining Unit.

The price to be paid is US$100,000 cash and 2 mln Gold Resource Corp shares, which amounts to dilution of just under 4%.

“It is our short to medium term goal and company vision to produce 30,000 to 40,000 gold ounces per year from our current Nevada Mining Unit, which could potentially more than double our Company’s annual gold production profile,” said chief executive Jason Reid.

Gold Resource currently operates projects in Mexico and  the USA and has to date returned US$108 mln in monthly dividends to shareholders since commercial production began in Mexico in 2010.

Gold Resources One2One Forum presentation - December 9th 2010

Gold Resources One2One Forum presentation - December 9th 2010

on 23/12/10