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Monday, 29th January 2007 (3455 views)

Gold Resource Corporation has today announced more interceptions of high-grade gold deposits at its Mexican project.

Its Oaxaca-based mine has reaped many good results including one highlight drill result which measured 15 metres in length with a grade of 5.60 grams of gold per tonne.

Another intersection was three metres long with a grade of 5.5 grams of gold per tonne while a third drill hole measured four metres at 3.90 grams of gold per tonne.

In total some 12 drill holes have now been made at the El Aguila project and these form part of the Gold Resource Corporation's 2006 to 2007 third drill programme.

William Reid, the company's president, said: "Though over 100 holes are scheduled to be drilled during the next six months, these continued high-grade results move us closer to a production decision targeted by the end of the first quarter of this year."

The gold mineralisation is particularly high-grade for a shallow open pit and drilling has now resumed at the project with two drill rigs as opposed to the one drill rig on site prior to the Christmas holidays.

Gold Resource Corporation focuses on exploring high-grade gold deposits in Oaxaca with its projected low running costs.

 

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