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Wednesday, 18th June 2008 (1212 views)

Gold Resource Corporation has reported continued high-grade intercepts with one ounce per tonne or more of gold equivalent.

These results come from four new holes at the La Arista deposit, part of the El Aguila project in Mexico. The company aims to start gold production at the site by the end of 2008 after getting the necessary permits, approvals and equipment delivery schedules.

Of the new holes, one reported 12.35 g/t of gold over four metres and another reported 8.88 g/t of gold over 3.3 metres.

Mr William W Reid, president of Gold Resource Corporation, said: "Our grid drilling is showing excellent continuity of mineralisation which is important for ultimately calculating a resource and for designing an underground mine."

All of the company's mines are based in the state of Oaxaca and El Aguila is the flagship project. The other gold property, El Rey, is in the exploration phase of development.

 

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