Gold Resource Corporation (NYSE:GORO) has announced drill highlights from its phase three drill campaign at the Gold Mesa exploration property in Mineral County, Nevada.
Drill highlights include 12.19 metres (m) of 2.42 grams per tonne (g/t) gold and 7.62m of 2.26 g/t gold, both being near-surface intercepts beginning 9.14m downhole.
Gold Resource’s phase three reverse circulation drill campaign tested five targets at Gold Mesa, with multiple drill holes encountering surface and near-surface high-grade gold mineralization.
In all, the company has now tested a total of eight exploration targets at Gold Mesa.
"We have now completed three successful phases of drilling at Gold Mesa, where each phase encountered significant gold values at shallow depths, typically less than 35 metres. We are excited to resume drilling the Gold Mesa property this spring, with a goal to begin building a first resource estimate on this prospective high-grade gold property," revealed Barry Devlin, vice president of exploration.
Jason Reid, chief executive and president of the company, said the past 15 months had been “tremendously successful” for the exploration team.
"Surface and near-surface high-grade gold drill results should help us delineate an economic resource much sooner and with less estimated associated mining costs as a potential open pit heap leach operation. As we look to delineate a deposit or deposits and move toward a production decision at Gold Mesa, we have begun the process of environmental base line studies for future mine permitting,” Reid said.
“With continued drill success like we have had in our first three drill campaigns, we look forward to a future production decision at Gold Mesa," he added.
Shares in Gold Resource were down 10 cents at US$4.58 at noon.