Gold resource corporation reports preliminary gold production for the third quarter ended september 30, 2019; provides gold production outlook for the fourth quarter and year 2019
Gold resource corporation announced preliminary gold production results for the third quarter ended september 30, 2019 of 11,165 ounces, reflecting the growing gold production impact from its isabella pearl mine, located in mineral county, nevada. in addition, the company reported preliminary third quarter production of 477,297 ounces of silver and significant copper, lead and zinc. preliminary third quarter production from the company’s oaxaca mining unit totaled 7,462 ounces of gold, 473,810 ounces of silver, 492 tonnes of copper, 2,459 tonnes of lead and 6,057 tonnes of zinc. through the first three quarters of 2019, the company’s oaxaca mining unit’s preliminary production numbers total 21,881 ounces of gold, 1,304,975 ounces of silver, 1,407 tonnes of copper, 6,916 tonnes of lead and 17,949 tonnes of zinc. preliminary third quarter production from the company’s nevada mining unit totaled 3,703 ounces of gold. with the isabella pearl project now in commercial production, the company has increased its 2019 global annual gold production outlook by 42% to 38,400 gold ounces, plus or minus 10%. the company maintains its 2019 oaxaca mining unit annual production outlook of 27,000 gold ounces and 1,700,000 silver ounces, plus or minus 10%. in addition, the company’s nevada mining unit targets 6,000 ounces of gold production, plus or minus 10%, for the fourth quarter of 2019. this fourth quarter production target coupled with 5,381 gold ounces produced year-to-date, increases the company’s global 2019 annual gold production outlook to 38,400 ounces, plus or minus 10%. fourth quarter 2019 gold production estimate for the isabella pearl mine targets 6,000 ounces, plus or minus 10%. the production ramp up at the isabella pearl mine is expected to continue over the next year. while quarterly production fluctuations are likely, production over the next several quarters is expected to increase to an approximate 40,000 gold ounce annual production rate estimated in late 2020.
