Tag: Exploration and Development

Gold Resource Corporation today announced new Switchback drill highlights from its El Aguila Project’s Arista Mine including 6.32 meters of 5.87 grams per tonne (g/t) gold, 139 g/t silver, 0.58% copper, 5.00% lead and 8.14% zinc. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA. The Company has returned over $108 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.

Riverside Resources Inc. is pleased to announce that exploration work continues with partner Centerra Gold Inc. at the Company’s Tajitos Gold Project in Sonora, Mexico. The initial exploration program funded by Centerra Gold over the past two months included extensive continuous rock chip channel sampling and stream sediment sampling. Drill targets are being defined with further work now underway and up to 4,500 metres in drilling expected to follow.

“The mineralization at the North Deposit is very similar in metal content to that of the South Deposit. Mineralization extends surprisingly close to surface and also exhibits the same potential for high grade “starter pit” mining opportunities as are currently being evaluated for the Company’s South Deposit”, said Darren Koningen, President, Minera Alamos Inc. “The deposit may offer a superior initial route to mining operations at the Los Verdes project, potentially eliminating months of waste pre-stripping along with the associated capital costs”.

Orex’s President, Gary Cope says, “This excellent high-grade and thick drilling result is the first hole in the southeastern region of the Sandra Escobar Project. Silver mineralization starts from surface in this hole. While it is still early in the program, silver has been detected in outcrops over a strike length of 700 metres.”

Azure’s Managing Director, Mr Tony Rovira said, “Our exploration is continuing and studies by our geologists and external consultants indicate that the alteration and mineralisation styles at Mesa de Plata and in nearby areas are typical of other lithocap-hosted, epithermal gold and silver deposits in Mexico and elsewhere in Latin America. This supports the Company’s belief that a large mineralising system is present here with potential to host significant precious metal deposits.”

Frank Powell, Head Geologist of Goldplay, commented, “We have spent several months sampling mineralized materials from our local gold properties at Gainey’s processing centre and have successfully completed the due-diligence necessary to advance to the next stages of our working agreement with Gainey.”

“It is not only exciting to drill additional high-grade mineralization within Arista’s known veins, but also impressive to discover another new high-grade vein while testing the margins of this deposit,” commented Gold Resource Corporation’s Vice President of Exploration, Mr. Barry Devlin. “The multiple veins that make up the Arista deposit exhibit unique mineralization, as we see in Viridiana’s high-grade gold component and Marena’s polymetallic composition including a high-grade zinc phase. I believe the potential exists to discover additional high-grade veins at Arista with future drill programs testing the margins of this expanding deposit.”

“We are confident that the expansion will result in a significant increase in production, which we will start to see the effects of this quarter,” said Brad Langille, newly appointed CEO and President. “The Company continues to selectively spend capital on projects with the highest return on investment.”

The differences between the previous 2011 publically reported tonnes and grade at Capire and those reported as the current resources here are substantial. The Base Case resources reported herein are much smaller than those previously reported, in part because the current resources were estimated with tighter constraints, both geostatistical and geological, and in part because they lie within an optimized pit shell and exclude additional mineralization lying at deeper levels. Much of this deeper mineralization was included in the 2011 estimate. That deep mineralization may be available for potential underground development but that remains to be studied and is not included in the current resource tabulation.

“The geological and structural setting at Cerro Cascaron share many characteristics with other epithermal gold-silver deposits in the area including El Sauzal, Mulatos, and Ocampo.”, Evrim VP of Exploration Mexico, Alain Charest commented, “Finding an exceptional project such as Cerro Cascaron, in an area that has seen little exploration demonstrates that there are still discoveries to be made in the Sierra Madre Occidental.”