Golden Arrow Begins Drilling at Rosales Copper Project, Chile
Golden Arrow Begins Drilling at Rosales Copper
Project, Chile
TSX Venture Exchange (TSX-V): GRG
Frankfurt Stock Exchange (FSE): G6A
OTCQB Venture Market (OTCQB): GARWF
VANCOUVER, BC
,
Sept. 23, 2021
/CNW/ -
Golden Arrow Resources Corporation
(TSXV: GRG) (FSE: G6A)
(OTCQB: GARWF),
("Golden Arrow"
or the
"Company")
is pleased to report that it has commenced the first reverse
circulation drilling program at the Rosales Copper Project in Chile. The drill program is testing the large conductive
zones identified in the recent TEM geophysical survey, as discussed in the
August 4
th
, 2021
news release.
"We have multiple targets near-surface and at depth exhibiting hallmarks of high-grade, stratabound or mantos-style
copper deposits so we are very excited to have the drills turning to test the interpretation,"
stated
Brian McEwen
, VP
Exploration and Development for
Golden Arrow
.
The first phase of drilling will include approximately 1,400 metres in four holes, to test both the upper and lower
conductors and confirm the geophysical interpretation. The subsequent 1,600 metres will be used to test the extent of
the anomalies as well as other targets. The program is expected to continue through the fourth quarter of the year.
Rosales Project and Targets
The Rosales Project currently includes 3,444 hectares of 100% held mineral claims and an additional 900 hectares
under application. The Project is located in the Atacama Region, a prolific mining district that hosts multiple large
precious and base metal mines. The project is road-accessible and is situated less than 90 kilometres from the mining
centre of Copiapo, with world-class exploration and mining infrastructure readily available.
The initial reconnaissance program at Rosales identified two general areas of prospective copper mineralization: the
Margarita Mine trend (MMT), and the NW Target. The MMT is a 3.5-kilometre-long structural corridor, oriented
northeast-southwest, mainly defined by felsic dykes. Chalcocite and chrysocolla were identified in outcrop over a 350 by
400 metres area underlain by andesitic volcanoclastics and andesites, within Jurassic aged volcano-sedimentary
sequences. Samples from the area averaged 1.74% copper with a high value of 4.37% copper (see News Release
dated
July 20, 2020
filed on SEDAR). The copper mineralization fills fractures and is disseminated in the matrix of the
volcanoclastic host rock, with further indications of manto-type mineralization in this zone.
As described in the
June 24
th,
2021 news release
, the Transient Electromagnetic (TEM) surface in-loop geophysical
survey detected two highly-conductive anomalies in the MMT, named G1 and G2, estimated to start within 100 metres
of the surface. The G1 target is the highest priority target for drilling due to its size, strong conductivity and correlation
with high copper values in surface rock-chip samples.
Subsequent to the surface TEM survey, three lines of TEM soundings were completed, crossing the two MMT
anomalies, to provide resistivity, displayed in vertical images. As described in the
August 4
th
, 2021 news release
, The
TEM sounding sections reveal one or more upper zones of moderate conductivity above
250m
from surface, interpreted
to correlate with the conductors detected in the previously reported fixed in-loop TEM surveys. Additionally, the sounding
sections have detected a prominent and extensive conductor at approximately
500m
depth and appear to resolve
increased conductivity below G1, proximal to a vertical corridor postulated to represent a feeder-structure. The flat-lying
and layered appearance of the anomalies, combined with the copper sulphide mineralization observed at surface, are
consistent with expectations for copper manto (stratabound) deposits.
Qualified Persons
The technical portions of this news release have been reviewed and approved by
Brian McEwen
, P.Geol., VP
Exploration and Development to the Company and a Qualified Person as defined in National Instrument 43-101.
About
Golden Arrow
:
Golden Arrow Resources Corporation is a mining exploration company with a successful track record of creating value
by making precious and base metal discoveries and advancing them into exceptional deposits. The Company is well
leveraged to the price of gold, having monetized its Chinchillas silver discovery into a significant holding in precious
metals producer SSR Mining Inc.
Golden Arrow
is actively exploring a portfolio that includes an epithermal gold project in
Argentina
, a district–scale
frontier gold opportunity in
Paraguay
, a base-metal project in the heart of a leading mining district in
Chile
and more than
180,000 hectares of properties in
Argentina
.
The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in
Argentina
since 1993.
ON BEHALF OF THE BOARD
"Joseph Grosso"
_______________________________
Mr.
Joseph Grosso
,
Executive Chairman, President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical
fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in
the future, including, without limitation, statements about the Company's plans for its mineral properties; the
Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and
future exploration and operating plans are forward-looking statements.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the
Company to differ materially from those discussed in the forward-looking statements and, even if such actual results
are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or
effects on, the Company. Factors that could cause actual results or events to differ materially from current
expectations include, among other things: the impact of COVID-19; risks and uncertainties related to the ability to
obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection
with mining activities; and the possibility that future exploration, development or mining results will not be consistent
with the Company's expectations.
Actual results may differ materially from those currently anticipated in such
statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed
discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, unless required pursuant to applicable laws.
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For further information:
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CO: Golden Arrow Resources Corporation
CNW 07:00e 23-SEP-21