Gold Resource Corporation announces that it has produced the first gold from Isabella Pearl in its Nevada Mining Unit prior to the schedule.
Gold Resource Corporation is a producer of silver and gold, as well as a developer and explorer with operations in Oaxaca in Mexico and Nevada in the United States. Since July 2010, the Company has given back $111 million to its investors in successive monthly dividends and provides its investors the option to convert their cash dividends into physical gold and silver and take delivery.
The Company started the Isabella Pearl project in June 2018 with the target of first gold production by 12 months in June 2019. Following 10 months of construction development, the Company reported on March 25th, 2019 that it had commenced the initial phases of gold processing by applying and circulating leach solution to ore loaded on the heap leach pad.
By focusing on achieving cash flow at the earliest possible time, two panels under leach, and final construction of the project’s ADR processing facility in progress, the management took a decision to employ a third party to process gold-loaded carbon building up in the ADR plant and pour gold dore before the schedule. The dore will be transported and sold to a refinery shortly. The used carbon was regenerated and will be recycled back to the process cycle at the Isabella Pearl project. More gold-loaded carbon shipments are planned in the upcoming days.
It is a tremendous milestone to have produced our first gold dore from Isabella Pearl in just over ten months from breaking ground on the project. Building a project like this is so exciting. An incredible amount of planning, work and problem-solving goes into bringing a project like this online. Our team is still working hard to complete the final portions of the ADR process facility, from which we expect to pour dore bars on site in the future; however, after evaluating the ease of delivery and reasonable cost to utilize a third-party to process our gold infused carbon, it was an easy decision to achieve cash flow sooner than anticipated. These initial first several hundred ounces of gold are the beginning of what we believe will be a great gold project for Gold Resource Corporation shareholders. We remain focused on ADR construction completion over the next several months and now look towards the project production ramp-up phase at Isabella Pearl. We are placing more ore on the pad, more panels under leach and increasing leach circulation flow.
Mr Jason Reid, CEO and President, Gold Resource Corporation