Gold Resource Corp. is a mining company focused on production and pursuing development of select, high-grade gold and silver projects that feature low operation costs and produce high returns on capital. The company has 100% interest in four high-grade gold and silver properties in Mexico’s southern state of Oaxaca.
Gold Resource chose Mexico as its targeted location as it is one of the world’s leading venues for mineral potential with a 500 year history of mining. The Fraser Institute’s 2004/2005 Mining Survey ranked Mexico fifth out of 64 worldwide venues in current mineral potential. Mexico also ranked eighth in the same survey for composite policy and mineral potential.
The company’s flagship project is the El Aguila Gold Project, which is located in the southern state of Oaxaca, Mexico. The property features high-grade gold and silver mineralization with significant base metal credits in two of the property’s three high-grade deposits. Gold Resource plans to mine underground for the second year of production and beyond.
In most recent news regarding the El Aguila Gold Project, Gold Resource reported that it is stockpiling the open pit ore in preparation for commencement of production. The Aguila mill is in the final phase of construction and is targeting gold production this year. Management is very excited with the reality that their company will soon be a low cost gold producer.