FOR IMMEDIATE RELEASE NEWS
MARCH 13, 2007 OTCBB:GORO
GOLD RESOURCE CORPORATION RETURNS HIGH-GRADE SILVER SURFACE SAMPLES FROM ITS LAS MARGARITAS PROPERTY IN OAXACA, MEXICO
DENVER – March 13, 2007 – Gold Resource Corporation (GRC) (OTCBB: GORO) announces high-grade rock chip surface samples, up to 821 g/t Ag (24 ounces/ton Ag), from its 100% owned Las Margarita property, Oaxaca, Mexico.
In addition to the continued exploration at the Company’s El Aguila Project, GRC recently hired a full time geologist to specifically focus on the Las Margaritas property to better understand the geology and to generate drill targets in this large area. Highlights from a recent surface sampling program at Las Margaritas include 381 g/t Ag, 699 g/t Ag, 155 g/t Ag, 821 g/t Ag, 708 g/t Ag and 404 g/t Ag.
William W. Reid, President of GRC stated, “Las Margaritas continues to demonstrate high-grade silver potential with these recently taken surface samples. It is also very positive that there were minimal base metals returned with these samples increasing the chance for good metallurgical recovery. Las Margaritas represents one of four potential high-grade gold and silver properties whose ore could be trucked to GRC’s proposed El Aguila mill. The potential of four high-grade properties feeding one mill is exciting and an important aspect of our strategic plan”.
The Las Margaritas high-grade silver property comprises the four northwest kilometers of the important N 70 W structural corridor, which is an extension of GRC’s El Aguila system. An historical 1905 Mexican Government authorized report titled The Mines of Mexico described the Las Margaritas mining district as, “…the place in which has been found some of the richest ores in Mexico”.
About Gold Resource Corporation
Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company owns 100% interest in four potential high-grade gold and silver properties in Mexico’s southern state of Oaxaca. For more information, please visit GRC’s website, located at www.Goldresourcecorp.com.
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 "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 GRC’s strategy, future production, future expenses and future liquidity and capital resources. All forward-looking statements in this press release are based upon information available to GRC on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. The Company's actual results could differ materially from those discussed in this press release. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the company’s Form SB-2 filed with the Securities and Exchange Commission.
Contacts: Jason Reid, Corp. Development Andrew J. Barwicki
Gold Resource Corporation Investor Relations
303-320-7708 516-662-9461