Welcome!

News Feed Item

Gold Resource Corporation Expands Switchback Discovery Mineralization

COLORADO SPRINGS, CO -- (Marketwired) -- 03/04/14 -- Gold Resource Corporation (NYSE MKT: GORO) (the "Company") today provided an update on the Switchback discovery drill highlights at its El Aguila Project in Mexico. Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $95 million to shareholders in monthly dividends since declaring production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

The new "Switchback" discovery, announced in June 2013, is located on the Company's El Aguila Project approximately 500 meters northeast of the Company's producing La Arista polymetallic (gold, silver, and base metals) underground mine (see maps). Step-out drilling continues to expand the high-grade mineralization, which is now explored 450 meters along strike by 450 at depth, containing significant gold, silver, copper, lead and zinc. The Company continues to drill step-out and infill holes at Switchback with hopes of further expanding the known mineralized area.

----------------------------------------------------------------------------
                          SWITCHBACK DRILL RESULTS
----------------------------------------------------------------------------
 Hole #  Angle          From   Interval   Au      Ag      Cu     Pb     Zn
        --------------------------------------------------------------------
          deg          Meters   Meters   g/t     g/t       %      %      %
----------------------------------------------------------------------------
 513023   -30          558.15    2.90    0.21    113     0.05   1.94   6.03
              --------------------------------------------------------------
                       590.25    2.65    0.05     73     0.56   2.73   3.91
----------------------------------------------------------------------------
 513024   -20          591.46    4.19    1.23    125     0.66   3.44   4.17
----------------------------------------------------------------------------
 513026   -45          745.90    1.60    0.01    575     0.07   0.81   3.40
----------------------------------------------------------------------------
 513028   -44          589.10    15.47   2.95     86     0.44   0.84   2.09
              --------------------------------------------------------------
                incl.  589.10    1.14    9.82     91     0.64   0.61   0.90
              --------------------------------------------------------------
                incl.  600.10    2.20   12.91    410     1.20   2.49   4.33
----------------------------------------------------------------------------
                                              less than
 513031   -10          448.38    0.39    0.01     1      0.05   0.67   1.94
----------------------------------------------------------------------------
 513055   -30          617.30    2.21    0.10    112     0.38   0.87   6.83
              --------------------------------------------------------------
                       639.17    0.89   16.95    101     1.20   4.37   6.15
              --------------------------------------------------------------
                       657.47    5.27    2.93     72     0.21   0.63   3.38
              --------------------------------------------------------------
                incl.  659.93    0.37    0.24    459     0.05   0.97   26.20
              --------------------------------------------------------------
                incl.  661.07    1.19   12.20    100     0.44   1.38   3.20
----------------------------------------------------------------------------
 513059   -38          350.77    1.75    0.07     58     0.24   1.09   4.98
              --------------------------------------------------------------
                incl.  350.77    0.53    0.03     95     0.37   0.26   9.62
              --------------------------------------------------------------
                       927.70    3.59    0.13    130     0.52   3.67   6.15
              --------------------------------------------------------------
                incl.  928.36    0.64    0.29    365     1.14   9.97   18.90
----------------------------------------------------------------------------
 514002   -35          718.00    2.48    0.02    155     0.06   1.63   8.42
              --------------------------------------------------------------
                       723.62    4.66    0.02    121     0.06   1.34   6.79
----------------------------------------------------------------------------
Assays by ALS Chemex, Vancouver, BC Canada
----------------------------------------------------------------------------

"We are pleased with the continued expansion of the Switchback mineralization," stated Gold Resource Corporation's CEO and President, Mr. Jason Reid. "We continue to drill this high priority target and are optimistic we may make a development decision for Switchback in the near term. Preliminary mine planning has begun with conceptual plans to access the Switchback mineralization from the producing underground Arista mine."

Barry Devlin, Vice President of Exploration for Gold Resource Corporation commented, "The new gold, silver and base metals discovery at Switchback was the success story of our 2013 drilling program at the El Aguila Project. Since the first hole, we knew the Switchback zone had excellent potential because of its similarities to our Arista vein system where we are currently producing. Switchback is a 40 to 100 meter wide alteration zone containing numerous mineralized veins associated with rhyolite dikes and hosted in andesite, similar to what we see at Arista. Switchback is also open in all directions, which increases the potential for additional high-grade discoveries."

About GRC:
Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company has 100% interest in six potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The Company has 53,779,369 shares outstanding, no warrants and no debt. Gold Resource Corporation offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery. For more information, please visit GRC's website, located at www.Goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved.

Cautionary Statements:

This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding Gold Resource Corporation's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Gold Resource Corporation on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that production will continue at any specific rate. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company's 10-K filed with the SEC.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2534856
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2534858

Contacts:

Corporate Development
Greg Patterson
303-320-7708
www.Goldresourcecorp.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, discussed the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information.
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
"The Striim platform is a full end-to-end streaming integration and analytics platform that is middleware that covers a lot of different use cases," explained Steve Wilkes, Founder and CTO at Striim, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Calligo, an innovative cloud service provider offering mid-sized companies the highest levels of data privacy and security, has been named "Bronze Sponsor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalised support service from its globally located cloud plat...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, will examine the regulations and provide insight on how it affects technology, challenges the established rules and will usher in new levels of diligence...
In his session at @ThingsExpo, Sudarshan Krishnamurthi, a Senior Manager, Business Strategy, at Cisco Systems, discussed how IT and operational technology (OT) work together, as opposed to being in separate siloes as once was traditional. Attendees learned how to fully leverage the power of IoT in their organization by bringing the two sides together and bridging the communication gap. He also looked at what good leadership must entail in order to accomplish this, and how IT managers can be the ...
DX World EXPO, LLC., a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, presented an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He then expounded on the industry issues he frequently came up against as an analyst, and ...
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
SYS-CON Events announced today that SkyScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SkyScale is a world-class provider of cloud-based, ultra-fast multi-GPU hardware platforms for lease to customers desiring the fastest performance available as a service anywhere in the world. SkyScale builds, configures, and manages dedicated systems strategically located in maximum-securit...