Gold Resource Corporation Consolidates Mineralized Trend at Isabella Pearl Project With Claim Acquisition
COLORADO SPRINGS, CO--(Jan 9, 2017) - Gold Resource Corporation (NYSE MKT: GORO) (the "Company") today announced the acquisition of additional exploration mining claims, which consolidate the mineralized trend of its Isabella Pearl gold development project in Mineral County, Nevada. The claims were acquired from Nevada Select Royalty Inc. ("Nevada Select"), a wholly-owned subsidiary of Ely Gold and Minerals Inc. (TSX VENTURE: ELY) (OTC: ELYGF). Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $109 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
The Company acquired 100% of 153 mining claims from Nevada Select for US$460,000, which included shares of restricted common stock valued at $300,000, and cash of $100,000, plus a one-time advanced royalty cash payment of $60,000. Nevada Select retained a net smelter return royalty (NSR) of 2.5% on the claims. The Company has the right to buy down 0.5% percent of the NSR on the claims for US$500,000.
- Published: 09 January 2017
- Written by Editor