Profile: Gold Resource Corp (GORO.A)
12 Dec 2013
Gold Resource Corporation is engaged in the exploration for and production of gold and silver in Mexico. As of December 31, 2011, the Company held a 100% interest in six properties in Mexico’s southern State of Oaxaca. During the year ended December 31, 2011, the Company produced a total of 66,159 ounces of gold equivalent from the El Aguila Project. During 2011, the Company’s exploration was focused primarily on the El Aguila Project. The Company classifies its mineral properties into two categories: Operating Properties and Exploration Properties. Operating Properties are properties on which the Company operates a producing mine. As of December 31, 2011, the Company had interest in six properties, one Operating Property and five Exploration Properties, in the southern state of Oaxaca, Mexico. In June 2011, the Company acquired an additional property between the El Rey property and Alta Gracia property, referred as the El Chamizo property.
The El Aguila and El Aire concessions are part of the El Aguila Project and the La Tehuana concession consists of the Las Margaritas property. The El Aguila Project is located in the Sierra Madre del Sur mountains of southern Mexico, in the central part of the State of Oaxaca. The El Aguila Project is located in the San Jose de Gracia Mining District in Oaxaca. During 2011, the combined open pit and underground ore that it processed through the mill averaged 619 tons of ore per day and totaled 214,215 tons for the year, with an average grade of 3.43 grams per ton gold and 357 grams per ton silver.
The El Rey property consists of concessions in another area in the state of Oaxaca known as El Rey, El Virrey, La Reyna and El Marquez. The El Rey property is approximately 64.4 kilometers (40 miles) from the El Aguila Project. As of December 31, 2011, the Company had drilled 48 core holes for a total of 5,278 meters (17,316 feet) at the El Rey property. The Las Margaritas property is made up of the La Tehuana concession. It consists of approximately 925 hectares located adjacent to the El Aguila Project.
The Solaga property consists of two mining concessions totaling 618 hectares known as Solaga I and Solaga II. The property is located approximately 120 kilometers (75 miles) northeast of the El Aguila Project. The Company has acquired claims adjacent to the Las Margaritas property in the Alta Gracia Mining District, namely the Alta Gracia property. These concessions consist of three mining claims, the David 1, the David 2 and La Hurradura. The concessions total 5,175 hectares. The El Chamizo Property totaled approximately 26,386 hectares (101 square miles).
Gold Resource Corp
2886 Carriage Manor Point
COLORADO SPRINGS CO 80906