Gold Resource Corporation Purchases High Grade Mina Gold Property in Mineral County, Nevada - Seite 2

Gold mineralization at Mina Gold is hosted by epithermal quartz veins occurring along fault zones in volcanic host rock outcropping at the surface. Historic drill intercepts encountered gold at shallow depths ( < 60 meters) including 7.4 grams per tonne (g/t) gold over 12.2 meters (hole R89-1), 11.8 g/t gold over 4.6 meters (hole R89-5) and 5.0 g/t gold over 6.1 meters (hole R89-10). The Mina Gold property has over 313 historic exploration drill holes which encompass more than 53,300 feet of drilling. 

In 1996, Glamis Gold Exploration, Inc., (Reno, Nevada) prepared an in-house estimate of mineralized material totaling 1,606,000 tonnes grading 1.88 g/t gold in the property's "Monster Zone". The Monster Zone consists of parallel structures approximately 45 meters apart which remain open on strike and depth. The Monster Zone mineralization is covered by patented claims, which are surrounded by multiple unpatented claims included in the transaction, giving additional exploration upside potential along this mineralized trend. 

Historic metallurgical reports completed by Legend Metallurgical Laboratory, Inc. out of Reno, Nevada, includes column leach tests at minus 6 inch rock returned 70% gold recovery in 22 days and 80% gold recovery in 60 days. Minus one-half inch rock returned 75% gold recovery in 2 days. Bottle roll tests on 3/8-inch rock returned 90% gold recovery in 96 hours. Historic studies indicate the best gold recoveries on the Monster Zone may require particle agglomeration prior to heap leaching. 

"We are pleased to acquire the Mina Gold high-grade gold property with its open pit heap leach potential to add to our Nevada Mining Unit's project pipeline," stated Gold Resource Corporation's CEO and President, Mr. Jason Reid. "The low acquisition cost for a property containing 1,606,000 tonnes grading 1.88 gram per tonne gold with exploration upside is exciting. The Mina Gold property's high grade historic gold intercepts, its positive metallurgical reports and its low-cost open pit heap leach potential underscores the type of high-grade properties we are pursuing for our Nevada Mining Unit. The Company's Mina Gold and Gold Mesa properties represent highly prospective precious metal properties that have the potential to rapidly grow into future projects. It is our goal to produce gold in the future from our Nevada Mining Unit to add to our current Oaxaca Mining unit's gold and silver production."