[ad_1]
Colorado Springs, CO – 
(NewMediaWire) – October 15, 2020 –This
press release corrects the first sentence on the prior version published on
October 14, 2020. The term “record” gold production is now correctly
applied to the Nevada Mining Unit’s record quarterly gold production, and the
word “consolidated” is now positioned correctly in front of total production
results. All information, production numbers and statistics remain the
same. The full text of the revised press release is below:
Gold Resource
Corporation (NYSE American: GORO) (the “Company”) reports preliminary record
Nevada gold production results for the third quarter ended September 30, 2020,
which contributed to consolidated production of 12,575 gold ounces, 333,761
silver ounces and significant base metals. Nevada gold production
increased by 51% as the production ramp up phase continues. Gold Resource
Corporation is a gold and silver producer, developer and explorer with
operations in Oaxaca, Mexico and Nevada, USA. The Company has returned
$115 million to its shareholders in consecutive monthly dividends since July
2010 and offers its shareholders the option to convert their cash dividends
into physical gold and silver and take delivery.
Preliminary
record third quarter production from the Company’s Nevada Mining Unit totaled
7,847 gold ounces, a gold production increase of 51% over the prior
quarter. Through the first three quarters of 2020, the Company’s Nevada
Mining Unit’s preliminary production numbers total 16,747 gold ounces.
The third quarter was the first full quarter that the Company was able to
regularly access portions of the deposit’s high-grade “Pearl” zone, while also
mining the deposit’s lower grade “Isabella” zone. The Pearl zone is
estimated to contain 80% of the gold ounces at the Isabella Pearl deposit with
an estimated average gold grade of 4.0 grams per tonne. Gold Resource
Corporation remains on track with ramp up into the fourth quarter, positioning
the Company to achieve its annual production target of 40,000 gold ounces in
2021.
Preliminary
third quarter production from the Company’s Oaxaca Mining Unit totaled 4,728
gold ounces, 324,592 silver ounces, 428 copper tonnes, 2,157 lead tonnes and
5,538 zinc tonnes, which represents increases of 94%, 75%, 74%, 89% and 84%,
respectively, for each metal over the prior quarter. Through the first
three quarters of 2020, the Company’s Oaxaca Mining Unit’s preliminary
production numbers total 13,619 gold ounces, 912,464 silver ounces, 1,162
copper tonnes, 5,811 lead tonnes and 14,386 zinc tonnes.
The Company
previously withdrew its 2020 production outlook for both its Oaxaca and Nevada
Mining Units following the impacts and uncertainties of the global pandemic,
the two-month mandatory governmental suspension of Mexican operations in April
2020, and uncertainty of potential future outbreaks or governmental responses
to the pandemic. Both mining units operated continuously during the third
quarter along with continued health screening protocols for COVID-19 prevention
and mitigation. During the third quarter Nevada identified one positive
case of COVID while Mexico identified 29 positive cases. Full financial
results for the third quarter will be available at the time the Company files
its quarterly report on Form 10-Q with the Securities and Exchange Commission.
About GRC:
Gold
Resource Corporation is a gold and silver producer, developer and explorer with
operations in Oaxaca, Mexico and Nevada, USA. The Company targets low
capital expenditure projects with potential for generating high returns on
capital. The Company has reached milestones including a decade of
production, generated over $1 billion in revenue and has returned $115 million
back to its shareholders in consecutive monthly dividends since July 2010.
In addition, the Company also offers its shareholders the option to convert
their cash dividends into physical gold and silver and take delivery. For
more information, please visit GRC’s website, located at www.goldresourcecorp.com and read the Company’s 10-K for an
understanding of the risk factors involved.
Cautionary
Statements:
This press
release contains forward-looking statements that involve risks and
uncertainties. The statements contained in this press release that are not
purely historical are forward-looking statements within the meaning of Section
27A of the Securities Act and Section 21E of the Exchange Act. When used in
this press release, the words “plan”, “target”, “anticipate,”
“believe,” “estimate,” “intend” and
“expect” and similar expressions are intended to identify such
forward-looking statements. Such forward-looking statements include, without
limitation, the statements regarding Gold Resource Corporation’s strategy,
future plans for production, future expenses and costs, future liquidity and
capital resources, and estimates of mineralized material. All forward-looking
statements in this press release are based upon information available to Gold
Resource Corporation on the date of this press release, and the company assumes
no obligation to update any such forward-looking statements. Forward looking
statements involve a number of risks and uncertainties, and there can be no
assurance that such statements will prove to be accurate. The Company’s actual
results could differ materially from those discussed in this press release. In
particular, the scope, duration, and impact of the COVID-19 pandemic on mining
operations, Company employees, and supply chains as well as the scope, duration
and impact of government action aimed at mitigating the pandemic may cause the
actual results and future events to differ materially from those expressed or
implied by such forward-looking information. Also, there can be no
assurance that production will continue at any specific rate. Factors
that could cause or contribute to such differences include, but are not limited
to, those discussed in the Company’s 10-K filed with the SEC.
Contacts:
Corporate
Development
Greg
Patterson
303-320-7708
[ad_2]
