Gold Resource Corp: The company announced Q3 production numbers from both its mining units. The company recently announced it would be spinning off its Nevada Mining Unit (NMU) to shareholders in a SpinCo (to unlock shareholder value), which makes sense as the company began mining the higher-grade Pearl deposit in Q3. Companywide production totaled 12.58k oz. Au and 333.76k oz., however, it is notable that gold production at the NMU increased gold output 51% to 7.85k oz.
Gold production will continue to increase at its NMU over the next quarter or two, until it reaches 9-11k +/- oz. Au per quarter. During Q3, the company mined both the lower grade Isabella zone and the higher-grade Pearl zone. The Pearl zone is estimate to contain 80% of the gold oz. at the deposit, which has an average grade of 4 g/t, which will position the company to produce roughly 40k oz. Au for the next couple of years.
Northern Vertex: The company reported some solid exploration results, hitting 109.8m @ 0.79 g/t Au and 24.4 g/t Ag, confirming continuity of Ruth vein mineralization over 650m. It remains open for 2km’s parallel to the Moss open-pit. Two RC drill rigs are supporting multi-phased exploration aimed at resources expansion. Northern Vertex also released drill results from the Gold Tower target, highlighted by 48.8m @ 0.74 g/t Au and 4.19 g/t Au and 35m @ 0.59 g/t Au and 11.37 g/t Ag. Note: The M&I resource grade at Moss is approx. 0.55 g/t Au.
Goldseek Employees Own Shares of Gold Resource Corp and Northern Vertex Mining.
About the author
Chief Mining Analyst with GoldSeek.com and SilverSeek.com. Author of the Gold Seeker Report weekly newsletter and analyst at the 24K Gold Fund. Previously he was the Senior Mining Equity and Economic Analysis at The Morgan Report. He was a Co-Founder and Director of Lemuria Royalties, before it was acquired in March 2018. He also co-authored The Silver Manifesto with David Morgan in 2015.
Legal Notice / Disclaimer: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. GoldSeek.com, Gold Seek LLC have based this document on information obtained from sources it believes to be reliable but which it has not independently verified; GoldSeek.com, Gold Seek LLC makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of GoldSeek.com, Gold Seek LLC only and are subject to change without notice. GoldSeek.com, Gold Seek LLC assume no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this Report. The information presented in stock reports are not a specific buy or sell recommendation and is presented solely for informational purposes only. The author/publisher may or may not have a position in the securities and/or options relating thereto. The company is may or may not be a sponsor of this, or any other related, websites. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction. Please see our full disclosure statements for more information.