Profile: Gold Resource Corp (GORO.A)
22 May 2017
Gold Resource Corporation, incorporated on August 24, 1998, is a mining company. The Company is a producer of metal concentrates that contain gold, silver, copper, lead and zinc, and dore containing gold and silver at the Aguila Project within its Oaxaca Mining Unit located in the southern state of Oaxaca, Mexico. The Company has two units in North America, the Oaxaca Mining Unit and the Nevada Mining Unit. Its assets are located at its Oaxaca Mining Unit, located on its Aguila Project, including its Aguila milling and smelting facility and Arista underground mine. The Aguila milling and smelting facility produces metal concentrates and dore from ore mined from the Arista Mine. All of its production and revenue comes from its Oaxaca Mining Unit. As of December 31, 2016, the Aguila Project included approximately 30,074 hectares of mining concessions. The Company's operations in Oaxaca are conducted through its Mexican subsidiary, Don David Gold Mexico S.A. de C.V. (DDGM). Its Nevada exploration and evaluation work is performed through two subsidiaries, GRC Nevada Inc. and Walker Lane Minerals Corp. (Walker Lane).
The Company's mineral properties are classified into two categories, such as Operating Properties and Exploration Properties. Operating Properties are properties on which the Company operates a producing mine and is considered as a material property. As of December 31, 2016, the Company had interest in nine properties, where over six of its properties, including one Operating Property and five Exploration Properties, are within its Oaxaca Mining Unit, which is located in the southern state of Oaxaca, Mexico. As of December 31, 2016, it also had three Exploration Properties within its Nevada Mining Unit located in south central Nevada's Walker Lane Mineral Belt in the United States.
Oaxaca Mining Unit
The properties of Oaxaca Mining Unit are located in Oaxaca, Mexico in what is known as the San Jose structural corridor, which runs north 70 degrees west. Its properties comprise over 55 continuous kilometers of this structural corridor, which spans three mining districts in Oaxaca. Its operating properties include Aguila Project, Margaritas property, Alta Gracia Property, Chamizo Property, Fuego Property and Rey property. As of December 31, 2016, the Aguila Project had 17 mining concessions aggregating 30,074 hectares. The Margaritas property consists of the La Tehuana concession. As of December 31, 2016, the Fuego property consisted of approximately 2,554 hectares and was located south of its Alta Gracia and Chamizo properties. The Rey property consists of concessions on the far northwest end of its 55 kilometer mineralized corridor in the State of Oaxaca known as Rey, El Virrey, La Reyna and El Marquez.
Nevada Mining Unit
The Company's activities at its properties in Nevada range from exploration to mineral delineation phase at Gold Mesa and Mina Gold to advanced engineering and permitting at Isabella Pearl. The Mina Gold property is located in Mineral County Nevada's Walker Lane Mineral Belt. As of December 31, 2016, the Mina Gold property contained a third party estimate of mineralized material totaling 1,606,000 tons grading 1.88 grams/ton gold. Isabella Pearl Project is a potential open pit heap leach project located in Mineral County, Nevada. As of December 31, 2016, Isabella Pearl Project contained third party proven and probable Reserves of 191,400 gold ounces at an average grade of 2.18 grams/ton. As of December 31, 2016, the Gold Mesa consisted of approximately 1,780 acres with 229 unpatented claims and three patented claims in central Nevada's Walker Lane Mineral Belt. It also owns East Camp Douglas property, which consists of patented and unpatented mining claims.
Gold Resource Corp
2886 Carriage Manor Pt
COLORADO SPRINGS CO 80906-3656