DENVER, CO -- (Marketwire) -- 03/14/11 -- Gold Resource Corporation (GORO) (NYSE Amex: GORO) reports the production transition and commencement of processing its La Arista underground ore. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico.
Transition from processing the Aguila Project's open pit ore to processing its Arista underground ore is underway with flotation optimization to produce three separate concentrates; a Gold/Copper, a Lead/Silver and a Zinc concentrate.
Gold Resource Corporation's President, Mr. Jason Reid stated, "La Arista's high-grade polymetallic deposit is the Company's real value and source of its longevity, and we are excited to make this important production transition ahead of schedule. As we target higher average grade ore, greater production levels and lower cash cost per ounce production, we look forward to 2011 as a transformational year for the Company."
"The Aguila open pit deposit enabled the Company to achieve commercial production in the shortest amount of time, provided necessary waste rock for the tailings dam and successfully positioned the Company as a low cost gold producer. The remaining El Aguila open pit ore stockpiles will be processed in the mill's agitated leach circuit after the processing of Arista underground ore is optimized," stated Mr. Reid.
Gold Resource Corporation's high-grade Arista deposit is the Company's largest deposit discovered to date with a current mine life estimate of 8 years. Three drill rigs target additional ounces as the Arista deposit remains open in strike and depth.
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