Skip to main content

Gold Resource Corp & Northern Vertex: Q3 Production Growth & Exploration Success


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.

image 237

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.  

image 236

Goldseek Employees Own Shares of Gold Resource Corp and Northern Vertex Mining.  

About the author

Average: 5 (2 votes)

Newsletter Signup

GoldSeek Free Newsletters
GoldSeek Daily Edition
Gold & Silver Seeker Report
Gold Seek -- Peter Spina