Gold Resource Corporation (NYSEMKT:GORO) said it has confirmed the up-dip extension of the Switchback vein system, about 30 meters above the existing mine workings.
Also, the company said it has intersected additional mineralization outside of current mining areas, which provides it with the opportunity to potentially develop a new mineralized zone.
"The results of drilling completed in the first half of 2021 have confirmed the potential for identifying new resources at the Don David Gold Mine,” said Gold Resource CEO Allen Palmiere in a statement. “The focus of our geologists has been to explore new areas and to continue identifying additional mineralization along strike and up-dip at shallower elevations above the current mine workings."
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Nick Suter, the company’s interim vice president for exploration, added: "Confirmation of the continuity of the robust Sandy vein at higher levels presents an opportunity to develop a new mineralized zone in the more easily accessible northern part of the Arista mine. Our objectives going forward continue to be to test these zones and extensions in order to expand resources of this growing system, as well as continue infill drilling to upgrade mineralized material to measured and indicated mineral resources."
The company said Switchback drill highlights include:
- Hole # 521013: 5.37 meters (m) grading 1.51 grams per ton (g/t) gold, 95 g/t silver, 0.21% copper, 1.22% lead, 1.84% zinc; also included 2.90m grading 2.61 g/t gold, 155 g/t silver, 0.25% copper, 2.07% lead, 3.00% zinc
- Hole # 521014: 0.78m grading 0.82 g/t gold, 640 g/t silver, 0.24% copper, 0.24% lead, 0.84% zinc
- Hole # 521015: 1.55m grading 0.01 g/t gold, 2,610 g/t silver, 0.31% copper, 0% lead, 0% zinc
- Hole # 521018: 0.36m grading 4.45 g/t gold, 4,460 g/t silver, 0.03% copper, 1.05% lead, 2.36% zinc
Gold Resource said the first two holes drilled from an underground exploration drill station located in a development ramp of the mine's Switchback vein system confirmed the up-dip extension of the Switchback vein system, about 30m (two mine levels) above the existing mine workings.
These intersections extend near mine up-dip continuity further to the west-northwest, with both the Soledad and Selene veins intersected. The latter two drill holes, drilled from a drill station located in a dedicated exploration development drift in the hanging-wall of the Switchback system, have identified narrow structures that have been correlated to veins in the Switchback system; these structures are about 80 to 100m above the previously identified upper limit of the Switchback vein system and extend the known mineralization to shallower depths.
In addition, the company said five drill holes confirmed the continuity of the mineralized Sandy 1 vein, which is sub-parallel to the Switchback vein system and between the Arista and Switchback vein systems.
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