Golden Arrow Chairman's Update
Golden Arrow Chairman's Update
TSX Venture Exchange (TSX-V):
GRG
Frankfurt Stock Exchange (FSE):
G6A
OTCQB Venture Market (OTCQB):
GARWF
VANCOUVER, BC
,
Feb. 9, 2021
/CNW/ -
Golden Arrow Resources Corporation
(TSX-V: GRG)
(FSE: G6A) (OTCQB: GARWF)
("Golden Arrow"
or the
"Company)
.
The New Year is underway, as President, CEO and Chairman of Golden Arrow Resources
Corporation ("Golden Arrow" or the "Company"), I would like to share some comments and provide
you with various links to
Golden Arrow's
new website that provides additional information on the
Company's current activity.
The Coronavirus crisis has affected societies and economies around the world.
Golden Arrow's
management continues to stay selectively active in
Argentina
,
Chile
and
Paraguay
, moving the
Company toward making new valuable discoveries that can potentially be sold for cash and carried
royalties to major producing companies.
In 2021,
Golden Arrow
continues to explore its strategically located portfolio that includes the new
epithermal Flecha de Oro Gold Project in
Argentina
; the district–scale Tierra Dorada Gold Project in
Paraguay
; and the Rosales Copper Project in the heart of a leading copper district in
Chile
as well
as continuing to evaluate advanced opportunities.
Readers should find it of great interest to know that despite the challenging times,
Golden Arrow
is
executing drilling and exploration programs in the three countries as follows:
As reported on
January 19, 2021
,
Golden Arrow
had a high–grade drill result at its Tierra
Dorada Gold Project in
Paraguay
, highlighted by an intercept at the Alvaro target of
143.5 g/t
gold over 0.5 metres
within
6 metres averaging 14.53 g/t gold
at 3 – 9 metres depth. The
shallow drilling program and the recent first induced polarization (IP) geophysical program are
helping to delineate the targets at Tierra Dorada.
The large size of the Tierra Dorada project in
Paraguay
(64,000 hectares), its underexplored
nature, and the prospective geology, provide an excellent opportunity for
Golden Arrow
to
discover one or more high-grade, quartz vein-hosted gold deposits.
The Alvaro target has multiple areas with high–grade gold in quartz veins, including some visible
gold.
Golden Arrow
is planning up to 2,000 metres of drilling starting in Q1 2021.
Golden Arrow
has staked an additional 10,700 hectares to cover El Cabo (Arenales) target.
In Argentina:
Further to the announcement on
December 7, 2020
,
Golden Arrow
is continuing with a trenching
and sampling program at the Flecha de Oro Gold Project in
Rio Negro Province
. The trenching
program is now continuing on the Esperanza target where
Golden Arrow
has found high–grade
and visible gold in surface sampling of vein corridors.
Golden Arrow
has a successful track–record of creating value having made multiple precious and
base metal discoveries and advancing them into exceptional deposits for sale to major producers.
The Company is well–leveraged to the price of gold having monetized its Chinchillas Silver discovery
into a significant financial base in the precious metals producer SSR Mining Inc.
In
Chile
:
Golden Arrow
has completed the first pass of sampling at the Rosales Copper Project and plan
to follow up with a trenching program.
Golden Arrow
has extended its staking and is waiting for the granting of additional concessions
around the Rosales Copper Project.
Management continues to evaluate advanced copper projects.
Five Step Development Pipeline (CNW Group/Golden Arrow Resources Corporation)
The above Five Step Development graphic illustrates
Golden Arrow's
strategy to fast–track and
advance geology work in progress that cost the Company approximately
$30M
during the first
eleven years. Management and our technical team have the funding and infrastructure in place to
continue advancing projects in three countries.
Golden Arrow's
strong treasury positions the Company to fast–track its work in progress to
potentially generate multiple new discoveries this year that would sizeably add to the Company's
share asset value. I want to thank all of our shareholders for their continued support and wish all of
you good health and the very best in 2021.
For further details, visit
Golden Arrow's
website at
www.goldenarrowresources.com
and view the
CEO's video at
https://goldenarrowresources.com/investors/presentations/
and Corporate video at
https://goldenarrowresources.com/investors/reports-and-interviews/
.
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:
Corporate Communications, Tel: 1-604-687-1828, Toll-Free: 1-800-901-
0058, Email: [email protected]
CO: Golden Arrow Resources Corporation
CNW 09:30e 09-FEB-21