Gold Resource (GORO) - 2025 Q2 - Quarterly Results

Gold Resource Corporation H1 2025 Drilling Results and Operational Improvements The report details H1 2025 high-grade drilling results, operational enhancements, and future exploration plans Highlights The company reports high-grade drill results and outlines key operational improvements to enhance production and efficiency - Drill results from the Three Sisters Vein System show good width and grades, suggesting potentially higher Net Smelter Return (NSR) values[5] - Engaged experienced underground mining contractor, Cominvi Servicios S.A. de C.V., to accelerate development into the Three Sisters vein systems, completing over 1,350 meters of development since May[5] - Operational improvements include adopting cut-and-fill mining, ordering a third dry stack filter press, replacing older fleet, and optimizing the process plant to improve recoveries[5] 2025 Drilling Program and Results The H1 2025 drilling program focused on the Three Sisters and Arista systems, confirming high-grade mineralization continuity H1 2025 Drilling Program Summary | Metric | Value | | :--- | :--- | | Total Drill Holes | 51 | | Total Meters Drilled | 6,615 m | | Primary Focus | Three Sisters & Arista vein systems | - The drilling program has increased confidence in the Three Sisters system, reinforcing its role as a key contributor to future mine production and a potential third major mineralized system for the mine[3][7] - The company plans to initiate additional exploration development in H2 2025 to support further infill and expansion drilling, particularly northwest of the current Three Sisters – Gloria zone[8] Three Sisters and Gloria Vein Systems Focused drilling refined the geologic model, confirmed mineralization over a 350-meter strike, and identified two new veins Three Sisters System H1 2025 Drilling Focus | Metric | Value | | :--- | :--- | | Drill Holes | 36 (out of 51 total) | | Meters Drilled | 5,017 m | | Confirmed Strike Length | ~350 m | | New Veins Identified | 2 (total now 12) | - The vein systems remain open to the northwest, up-dip, and at depth, with additional exploration planned for Q3 to expand drilling beyond current resource limits[14] Selected Drill Result Highlights Drilling in the Three Sisters system yielded significant high-grade intercepts, reinforcing the system's economic potential H1 2025 Selected High-Grade Drill Intercepts | Hole No. | Vein | NSR ($/t) | Est. True Width (m) | AuEq (g/t) | | :--- | :--- | :--- | :--- | :--- | | 525011 | Sadie 1 | $840 | 4.97 | 12.67 | | 525018 | Sandy 5 | $1,665 | 4.83 | 23.73 | | 525020 | Sandy 5 | $1,365 | 3.52 | 19.59 | | 525040 | Sandy 1 | $1,118 | 3.53 | 16.03 | Operations Update The company is implementing operational advancements including accelerated development, new mining methods, and equipment upgrades Mine Development – Three Sisters Development was accelerated via a contractor, completing over 1,350 meters and accessing the vein system on three levels - Engaged contractor Cominvi Servicios S.A. de C.V. in May 2025 to accelerate development, completing over 1,350 meters of ramps and drifts by the end of Q2 2025[21] - Due to complex geometry, the mine has implemented cut-and-fill mining methods to reduce dilution and optimize resource recovery in the Three Sisters system[22] Additional Improvements Improvements include replacing aging equipment, adopting cut-and-fill mining, and optimizing the mill's process flow - Purchasing used equipment in good repair to replace the old fleet, aiming to reduce significant maintenance requirements and low availability[23] - Shifting from long-hole stoping to cut-and-fill mining in certain areas to minimize dilution and maintain higher grades in narrow veins[24] - Reviewing the mill's process flow to fine-tune reagent use has already improved recoveries, and a third filter press has been ordered to improve throughput[25] Detailed Drill Results Tables This section provides comprehensive assay results from the H1 2025 drilling program for the Three Sisters and Arista systems - The report includes detailed tables of drill results from 51 holes in the Three Sisters and Arista Vein Systems[26][30] Ancillary Information This section contains corporate disclosures, including QA/QC procedures, conference call details, and forward-looking statements Quality Assurance / Quality Control The company maintains a rigorous QA/QC program with verifiable chain of custody and independent lab verification - Samples were assayed at the DDGM mine lab and the independent, ISO-accredited ALS Global lab in Vancouver[31] - The QA/QC program includes verifiable chain of custody, insertion of certified reference materials and blanks, and duplicate check assays, with no material discrepancies identified[31][33] Second Quarter 2025 Conference Call The company will host its Q2 2025 conference call on August 6, 2025, at 12:00 p,m, Eastern Time Conference Call Details | Item | Detail | | :--- | :--- | | Date | Wednesday, August 6, 2025 | | Time | 12:00 p.m. Eastern Time | | Toll Free | +1 (800) 717-1738 | | International | +1 (289) 514-5100 | | Conference ID | 49273 |