Stockwire.com: Gold Resource Corp. (OTCBB: GORO) just released some important news

Gold Resource recently reported indications of a possible third parallel high-grade vein. The company is currently drilling the final few holes on portions of the Arista deposit's two main parallel veins, the Baja vein and the Arista vein - delineation drilling, which according to company Presi...

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Bibliographic Details
Published inM2 Presswire
Format Newsletter
LanguageEnglish
Published Coventry Normans Media Ltd 10.12.2008
Subjects
Alliances
Compensation
Conflicts of interest
Copper
Editors
Gold
Investments
Investors
Mineralization
Mining engineering
Operating costs
Private placement
Sanchez, Jorge Luis
SEC regulations
Silver
Silver mines
Stockholders
Websites
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Summary:Gold Resource recently reported indications of a possible third parallel high-grade vein. The company is currently drilling the final few holes on portions of the Arista deposit's two main parallel veins, the Baja vein and the Arista vein - delineation drilling, which according to company President William W. Reid, continues to show high-grade precious metal mineralization. Gold Resource reports two greater than 2 ounce gold equivalent (AuEq) intercepts including 1 meter of 26.89 g/t gold and 1323 g/t silver (2.15 oz/t AuEq) within 3.4 meters of 36.07 g/t (1.16 oz /tonne) AuEq in a possible third vein at its Arista deposit. Commenting on the report, Reid said the potential of this intercept, coupled with the surface expressions of the many additional vein swarms in the area, adds to the company's belief that this system is large, high-grade and robust. Gold Resource Corp. 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 four potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The company has 34,231,952 shares outstanding and no warrants. For more information, please visit Gold Resource's Web site, located at www.goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved.