logo-loader

Gold Resource Corp aims to increase productivity and life of its mines with a focus currently on Mexico

Last updated: 08:15 15 Jun 2023 EDT, First published: 17:10 28 Oct 2020 EDT

Snapshot

  • Gold Resource says 2023 drilling campaign at Don David Gold Mine is returning positive results
  • Gold Resource CEO talks through operational changes to maximize profitability and mine production
Gold

About the company

Gold Resource Corporation is a gold and silver producer, developer, and explorer with operations in Oaxaca, Mexico. The company’s focus is on unlocking the value of the mine, existing infrastructure, and large property position. It has a 100% interest in six potential high-grade gold and silver properties in the southern state of Oaxaca, Mexico. The company's Oaxaca properties were selected based on their potential to meet its objectives of low operating costs and potential for high returns-on-capital. Gold Resources currently controls over 684 square kilometers, including 55 kilometers of a geologically important structural fault corridor running North 70 West. The company's flagship operation is the Aguila Project, where the Arista underground polymetallic deposit is currently in production.

How it is doing

15 Jun 2023

Gold Resource Corporation (NYSE-A:GORO, ETR:GIH) told investors that results from the ongoing expansion and infill drill programs at its Don David Gold Mine (DDGM) in Mexico continue to provide evidence of adding additional higher-grade resources from several vein systems.

The progams are focusing on the north-west Arista, south-central Switchback, the Three Sisters and newly discovered Gloria vein systems, the company said, highlighting a hole that revealed 2.56 metres (m) with a net smelter return value of $303 per tonne (t) at 0.67 grams per tonne (g/t) gold, 503.59 g/t silver, 0.71% copper, 0.9% lead and 1.7% zinc at the Switchback vein system.

In a statement, president and CEO Allen Palmiere commented: “The 2023 drilling campaign is returning positive results and has further confirmed that the program is on the right track to deliver higher-grade resources into the near- and mid-term mine plan.”

The company noted that five underground diamond drill rigs are currently in operation at the mine where a total of 61 drill holes for over 14,200m have been completed year-to-date in 2023.  

26 Apr 2023

Gold Resource Corporation (NYSE-A:GORO, ETR:GIH) (GRC) said it ended the first quarter of its 2023 financial year with a solid balance sheet, including $21.4 million in cash after selling 10,055 gold equivalent ounces. 

The company noted that it sold 6,508 ounces of gold and 294,815 ounces of silver in the three months to March 31, 2023. Sales of zinc reached 3,060 tonnes, while it also sold 1,417 tonnes of lead and 332 tonnes of copper.

13 Apr 2023

Gold Resource Corporation (NYSE-A:GORO, ETR:GIH) said it sold a total of 6,508 ounces of gold and 294,815 ounces of silver in the first quarter of 2023, reaching a gold equivalent total of 10,055 ounces.

The company also sold 3,060 tonnes of zinc, 332 tonnes of copper and 1,417 tonnes of lead during the period.

What management says

30 Jul 2021

Gold Resource Corporation (NYSEMKT:GORO) (NYSE American:GORO) CEO Allen Palmiere spoke to Proactive to talks through operational changes he plans to implement to maximize profitability and mine production.

For example, Palmiere says the group can optimize its concentrate to maximize revenue from its smelters, like reducing gold content in its zinc concentrate requiring 'a great deal of operating disciple' in its processing plant. He says changes like this will have a significant impact.

Gold Resource CEO talks through operational changes to maximize...

Gold Resource Corporation (NYSEMKT:GORO) (NYSE American:GORO) CEO Allen Palmiere spoke to Proactive to talks through operational changes he plans to implement to maximize profitability and mine production. For example, Palmiere says the group can optimize its concentrate to maximize revenue...

on 07/30/2021