GOLD RESOURCE CORPORATION DRILLING RETURNS HIGHEST GRADE INTERCEPTS TO DATE
DENVER Tuesday February 22, 2011 Gold Resource Corporations (GORO) (NYSE Amex: GORO) development drilling returns highest grade intercepts to date including 11 meters down hole of 37.48 grams gold per tonne (1.20 ounce per tonne) and 2183 grams silver per tonne (70.20 ounce per tonne) within 28.6 meters of 21.64 grams gold per tonne (0.70 ounce per tonne) and 2178 grams silver per tonne (70.30 ounce per tonne) from its Arista deposit. The Company expects initial production from its high-grade Arista deposit, located at its El Aguila Project, in the next few weeks. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico.
From an underground drill station set up on level 2, above the Arista ore body, development drill holes were designed to test the character, grade and locations of the Arista and Baja veins to assist in mine development. In a fan hole drilled -45 degrees and approximately 50 meters ahead of drift development work on level 5, high-grade gold and silver were intercepted 85 meters down hole.
La Arista deposit development infill drill highlights include:
Hole # 5110004, drilled 45 degrees (lengths are not true width)
11 meters of 37.48 g/t gold, 2183 g/t silver, 1.36% copper, 0.98% lead, 5.25% zinc
within,
28.6 meters of 21.64 g/t gold, 2178 g/t silver, 1.84% copper, 1.79% lead, 4.94% zinc
