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
SYS-CON Events announced today that Evatronix 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. Evatronix SA offers comprehensive solutions in the design and implementation of electronic systems, in CAD / CAM deployment, and also is a designer and manufacturer of advanced 3D scanners for professional applications.
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
DevOps promotes continuous improvement through a culture of collaboration. But in real terms, how do you: Integrate activities across diverse teams and services? Make objective decisions with system-wide visibility? Use feedback loops to enable learning and improvement? With technology insights and real-world examples, in his general session at @DevOpsSummit, at 21st Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, explored how leading organizations use data-driven DevOps to close th...
"Digital transformation - what we knew about it in the past has been redefined. Automation is going to play such a huge role in that because the culture, the technology, and the business operations are being shifted now," stated Brian Boeggeman, VP of Alliances & Partnerships at Ayehu, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
The past few years have brought a sea change in the way applications are architected, developed, and consumed—increasing both the complexity of testing and the business impact of software failures. How can software testing professionals keep pace with modern application delivery, given the trends that impact both architectures (cloud, microservices, and APIs) and processes (DevOps, agile, and continuous delivery)? This is where continuous testing comes in. D
"WineSOFT is a software company making proxy server software, which is widely used in the telecommunication industry or the content delivery networks or e-commerce," explained Jonathan Ahn, COO of WineSOFT, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
Sanjeev Sharma Joins June 5-7, 2018 @DevOpsSummit at @Cloud Expo New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...