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Gold Resource Corp's Switchback drill results augur well for Arista mine growth

Switchback consists of multiple high-grade polymetallic, epithermal veins, making up the northeast portion of the Arista mine
Gold Resource Corp's Switchback drill results augur well for Arista mine growth
GORO's Switchback vein assays are encouraging

Gold Resource Corporation (NYSE:GORO) says its Arista mine in Mexico has been further boosted by latest drill results.

Latest assays from the Switchback vein system show high grades, including 4.29 meters (m) at 9.97 gold grams per tonne (g/t).

There was also 5.81 meters of 4.87 gold g/t and 7.69 meters of 3.87 g/t gold.

Switchback consists of multiple high-grade polymetallic, epithermal veins, making up the northeast portion of the Arista underground mine, the firm reminded investors.

Eight infill holes targeted the northwest, central and southeast portions of Switchback.

Seven holes hit multiple polymetallic veins, while an eighth  targeted the Soledad vein. The Switchback vein system remains open in all directions.

"The Switchback veins continue to show strength in grade, with both good underground mining widths and high-grade gold, silver and base metal intercepts," said Barry Devlin, vice president of exploration at Gold Resource Corporation.

"The continuation of multiple polymetallic en echelon veins speak to the tremendous power of this large epithermal system."

"We are excited for our Arista Mine's continued growth with these latest Switchback vein system high-grade gold and silver results," added Jason Reid, chief executive and president.

"This bodes well for the Switchback vein system growing as big as, if not larger than, the Arista vein system. Mine development on several levels of Switchback continues.

"We target bulk tonnage mining this area in 2018, as we intend to develop a substantial portion of this exciting expansion of the Arista Mine during 2017."

GORO shares added 0.93% in New York to $4.33.

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October 30 2017

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