UPDATE - Golden Arrow's New Mine Shows Tremendous Potential -- SECFilings.com
REDONDO BEACH, CA--(Marketwired - May 9, 2017) - SECFilings.com, a leading financial news and information portal offering free real time public filing alerts, announces publication of an article covering Golden Arrow Resources Corp. (TSX VENTURE: GRG) (OTCQB: GARWF). The junior mining sector is riddled with companies that over-promise and under-deliver, but some companies have proven their ability to execute and create significant value. Golden Arrow Resources Corp. is a prime example of the latter after successfully developing its Chinchillas project into a joint venture with Silver Standard Resources Inc. -- a $1.18 billion major.
The article takes a look at the company's recent exploration program at the Antofalla silver-gold-base metal project and why it could hold as much potential as Chinchillas.
Antofalla's Promise
Golden Arrow's 8,760-hectare Antofalla project is a silver-gold-base metal project located in the Catamarca Province of Argentina. The project's volcanic dome complex and alteration zone showed known mineralization, but was unexplored by previous operators.
On May 2, the company announced the identification of several new high-potential targets and promising test results. The highlights of these test results included:
- 281 g/t silver and 0.5% lead over 3.35 meters and 168 g/t silver over eight meters in channel samples from several new mineralized breccia "vents" located 380 meters southwest of the Colorada Breccia target where previous operators discovered 18 meters averaging 128 g/t silver, 0.23 g/t gold, and 0.88% lead.
- 3.87 g/t gold, 146 g/t silver, and 1% lead along with 0.14 g/t gold, 4,404 g/t silver, and >30% lead in rock chip samples from similar breccia "vents" in the area.
- 134 g/t silver over 0.8 meters in chip channel samples from the newly discovered Domos Norte target located 900 meters northwest of the Colorada Breccia target.
- Preliminary high resistivity and high chargeability targets from the 6.3-kilometer line of IP/Resistivity conducted to date.
VP of Exploration & Development Brian McEwen summarized the findings saying, "Not since our first months at the Chinchillas project has the team been so excited about the potential for a significant discovery. The last three months have proven extremely successful in advancing our knowledge of the extensive system at Antofalla and the priority target areas. Our preliminary findings confirm that not only there are good opportunities to expand the known mineralization but also to define new mineralization outside the known zones."
The company's $2 million exploration program will focus on continuing to the sampling and mapping of targets, detailing stream sediment, completing geophysical studies, and conducting further reconnaissance to identify new targets. The budget also includes 3,000 meters of drilling that is planned for the second half of the year.
A History of Execution
Golden Arrow's management team -- the Grosso Group -- has decades of experience in the mining industry and strong relationships with key officials in Argentina. President Joseph Grosso is a respected entrepreneur that's joined by VP of Business Development Mr. Nikolaos Cacos, MIM, BSc and VP of Exploration and Development Brian McEwen, a professional geologist with more than 30 years of exploration and production experience around the world.
In 1993, Mr. Grosso met the ex-chief geologist for the Argentine government who explained the country's many early-stage opportunities. The two formed Minas Argentina SA and eventually discovered the Gualcamayo gold project, which Yamana Gold Inc. -- a $2.5 billion major -- now has in production and the Navidad project, the world's largest silver deposit that Pan American Silver Corp. -- a $2.5 billion major -- has going into production.
The recent joint venture with Standard Silver for its Chinchillas mine is only the latest in a series of high profile wins for the Grosso Group. With Antofalla's promising early results, the project could become another key victory for the company.
Please follow the link to read the full article: http://analysis.secfilings.com/articles/167-golden-arrow-s-new-mine-shows-tremendous-potential
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