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Gold Resource Corp.
Summary
| Project: | Oaxaca Mining Unit | |
|---|---|---|
| Deposit: | Oaxaca Mining Unit | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc | |
| Date: | 2/21/2017 | |
| Report Code: | (no Code) | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 21-2-2017: Gold Resource Corp. announces a Resource Estimation report for its Oaxaca Mining Unit deposit at the Oaxaca Mining Unit project. Updated mineral resources and ore reserves at project. COLORADO SPRINGS – February 21, 2017 – Gold Resource Corpora | |
| Resources: | (Reserve, P+P): 1.8915Mt @ 2.75g/t Au, 165g/t Ag at project total | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | COLORADO SPRINGS – February 21, 2017 – Gold Resource Corporation (NYSE MKT: GORO) (the “Company”) today announced as of December 31, 2016, it increased proven and probable gold reserves by 31% and silver reserves by 17% at its Oaxaca Mining Unit, compared to December 31, 2015. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $109 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery. Proven and probable reserves at the Oaxaca Mining Unit totaled 1,891,500 tonnes grading 2.75 grams per tonne (g/t) gold and 165 g/t silver, equating to 167,300 gold ounces and 10,009,300 silver ounces. Proven and probable reserve tonnes included in the December 31, 2016 reserve report increased year-over-year by 15%, gold ounces increased by 31% and silver ounces increased by 17%. The reserve report also includes significant base metals from the Arista mine consisting of 5,543 tonnes (12.2 million pounds) of copper grading 0.3%, 24,020 tonnes (53.0 million pounds) of lead grading 1.3% and 66,517 tonnes (146.6 million pounds) of zinc grading 3.6%. The Company maintained 1.64 million proven and probable tonnes at the Arista Mine’s Arista vein system, and added 203,500 tonnes at the Arista Mine’s Switchback vein system. Arista Mine proven and probable reserves now total 1.85 million tonnes, a nearly 13% increase over the prior year reserve report. The Company also reported for the first time proven and probable reserves from the Alta Gracia Project’s recently commissioned Mirador Mine totaling 43,800 tonnes grading 1.06 g/t gold and 342 g/t silver, equating to 1,500 gold ounces and 481,400 silver ounces. | |
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