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Gold Resource Corp significantly expands known gold mineralization at Arista mine

Last updated: 15:17 28 May 2019 BST, First published: 15:08 28 May 2019 BST

Arista mine
Gold Resource's Arista underground mine is located at the Company's El Aguila Project in Oaxaca, Mexico

Gold Resource Corporation (NYSE:GORO) announced Tuesday that it had intercepted high-grade gold mineralization along the Arista Mine’s Switchback vein system, significantly expanding the mine.

High-grade mineralization intercepted 175 metres along the northern strike and 200 metres vertically, extending the known mineralization of Switchback.

The Colorado Springs-based company saw drill intercepts of almost 12 metres of just over 1 grams per ton (g/t) gold and 494 g/t silver, including 2.5 metres of 2.7 g/t gold and 1,420 g/t silver.

READ: Gold Resource unveils 1Q results and maintains 2019 production outlook

“This year’s exploration efforts at Switchback continue to impress with significant vein expansions along both strike and up-dip,” said Barry Devlin, vice president of exploration at Gold Resource Corporation. 

“Our recent focus has been on the northern extension of the Switchback veins system where the main Soledad vein appears to be splitting into two distinct mineralized structures. Exploration goals for the remainder of the year are to continue to test these northern extensions of this growing system, both along strike and up-dip at higher elevations, as well as infill drilling to upgrade mineralized material to proven and probable reserves.”

CEO Jason Reid commended the mining unit’s exploration team in expanding the mineralization at Arista. “As I have stated for over a decade, this is a very powerful high-grade epithermal system with the complex geologic structures needed for numerous vein discoveries.

“New veins and intercepts including 2.5 meters of 2.68 grams per ton gold and 1,420 grams per ton silver within a much wider mineralized vein of over 11 meters underscores the Arista Mine’s growth potential.  As we follow these various structures exploring for more ore shoots like those discovered in these recent drill results, the Arista Mine continues to prove itself as a high-grade, expanding and exciting deposit.”

Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. 

Shares of Gold Resource Corporation eased 1.7% in Tuesday morning trading to sit at $2.90.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Gold Resources One2One Forum presentation - December 9th 2010

Gold Resources One2One Forum presentation - December 9th 2010

on 23/12/10