Gold Resource Corporation Engages COREVI to Commence the Permitting Process and Lyntek to Commence Engineering at the El Aguila Project, Mexico
Posted on: Monday, 12 February 2007, 06:00 CST
DENVER, Feb. 12 /PRNewswire-FirstCall/ -- Gold Resource Corporation (GRC) (BULLETIN BOARD: GORO) announced the signing of a contract with COREVI S.A.de C.V., an environmental engineering firm located in Mexico City, Mexico to obtain all the environmental and regulatory permits needed to place into production GRC's 100% owned El Aguila Project, a high-grade gold and silver property located in the state of Oaxaca, Mexico. In addition, GRC has contracted with Lyntek Incorporated, an engineering firm located in Denver CO., to begin initial engineering work needed for the project.
William W. Reid, President of GRC stated, "Due to continuing success in finding high-grade gold and silver mineralization in our recent drilling program, we are moving forward with the permitting process and initial engineering work to help us with our production decision which we are targeting for the end of the first quarter of 2007. This will also position GRC to expedite mine development when that decision is made".
"COREVI has previously obtained all the exploration permits needed for GRC at this Project and Lyntek previously completed an independent Scoping Study in 2004 which indicated cash cost of producing an ounce of gold at +/- $100. We are pleased to be working with both COREVI and Lyntek since each has considerable experience with the mining industry in Mexico", concluded Mr. Reid.
About Gold Resource Corporation
Gold Resource Corporation is a gold 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 three potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. For more information, please visit GRC's website, located at http://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: William W. Reid, President Andrew J. Barwicki Gold Resource Corporation Investor Relations 303-320-7708 516-662-9461
Gold Resource Corporation
CONTACT: William W. Reid, President of Gold Resource Corporation,+1-303-320-7708; or Investor Relations, Andrew J. Barwicki, +1-516-662-9461,for Gold Resource Corporation
Web site: http://www.goldresourcecorp.com/
Source: PRNewswire-FirstCall
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