Golden Arrow Provides Exploration Update, including First Program at Rosales Copper Project, Chile
Golden Arrow Provides Exploration Update, including First Program at
Rosales Copper Project, Chile
TSX Venture Exchange (TSX-V):
GRG
Frankfurt Stock Exchange (FSE):
G6A
OTCQB Venture Market (OTCQB):
GARWF
VANCOUVER, BC
,
Sept. 14, 2020
/CNW/ -
Golden Arrow Resources Corporation
(TSX-V: GRG) (FSE: G6A) (OTCQB: GARWF),
("Golden Arrow"
or
the
"Company")
is pleased to announce the start of the first field program at the Rosales Copper Project in
Chile
, as well as provide an update on the
exploration programs for its projects in
Argentina
and
Paraguay
.
Rosales Copper Project,
Chile
The first detailed field work is now underway at Golden Arrow's recently staked Rosales Copper Project in Region III,
Chile
("Rosales") including a soil
sampling and geological mapping program. Several hundred soil samples will be taken, as well as 1:5,000 scale mapping of the Margarita Trend and the
NW targets.
"It's very exciting to have boots on the ground for the first time at our new Rosales Project, particularly as we see the price of copper continuing its upward
trend over the
$3.00
mark.
Golden Arrow
remains primarily focused on precious metals, but this project was too good an opportunity to pass up,
providing 100% ownership at a very low entry cost, with excellent exploration, and market, upside. We look forward to advancing this project, while our
team continues to look throughout
Chile
for additional precious and base metal opportunities,"
commented
Brian McEwen
,
Golden Arrow's
VP Exploration
and Development.
The 100% held Rosales Copper Project covers 1,450-hectares, 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. Rosales has several priority target areas characterized by zones of near-
surface copper stockwork mineralization, including the Margarita Trend target and the NW target. The Margarita Trend is a structural trend that continues
from the adjacent operating Margarita mine southwest onto the Rosales Project where mineralized occurrences were sampled and returned values between
0.37% and 4.37% Cu from five rock chip samples in a target area of 100 x 200 metres.
[
Golden Arrow
cautions that proximity to a mining operation does
not indicate that mineralization will occur in sufficient quantity or grade on
Golden Arrow's
property that would result in an economic extraction scenario.]
In an area approximately three kilometres to the northwest, ("the NW target") samples returned up to 5.74% Cu. (See the
News Release
dated
July 20,
2020
for additional details.)
Tierra Dorada Gold Project,
Paraguay
The 500 metre shallow-hole diamond drilling program initiated in late August at the Alvaro target is proceeding, with approximately 13 holes (180 metres)
completed as of
September 8
th
. The drilling is expected to continue until approximately the end of the month, with assay results of sampling to follow. (See
News Release
dated
August 28
th
, 2020 for additional program details.)
The Tierra Dorada gold project covers an area of Pre-Cambrian shield in southern
Paraguay
prospective for orogenic gold deposits. The project includes
two property blocks totaling 64,000 hectares: the Paraguari property to the north, and the Misiones property to the south.
Golden Arrow
has mainly focused
its activities to date at one of four previously-identified target areas known as Alvaro in the southern property block, but also has a team working on
geological reconnaissance and stream sediment sampling in both the northern and southern block concessions to evaluate as much of the property as
possible for additional targets.
Flecha de Oro Gold Project,
Argentina
The Flecha de
Oro
gold project in
Rio Negro Province
,
Argentina
, consists of three separate property packages, Puzzle (1,952 hectares), Esperanza (9,968
hectares) and Maquinchao (2,000 hectares) for a total tenure position covering 13,920 hectares in an area that is prospective for large epithermal precious
metal deposits. To date the Company has mainly focused on the Esperanza property, to define high-grade gold mineralized zones within the 16 kilometers
of identified quartz and chalcedony veins that display banded, colloform and crustiform epithermal textures.
Field
work at Flecha de
Oro
has been suspended since the spring due to COVID-19 travel and work restrictions. In anticipation of a possible prolonged
suspension,
Golden Arrow
has negotiated amendments to the option agreements for the Esperanza and Puzzle properties that delay 50% of the upcoming
September payment to July of next year, and extend the subsequent payment to July 2022. Over the last few months, the technical team has undertaken
data processing of results received in the early summer to refine targets for follow-up when field work resumes. In addition, the team will soon be submitting
an Environmental Impact Report (EIR) for the new Maquinchao property, a required step in the permitting process for exploration. (See
News Release
dated
June 8, 2020
for recent results and details of the Maquinchao property option.)
Qualified Persons
The results of the Company's exploration program have been reviewed, verified (including sampling, analytical and test data) and compiled by the Company's
geological staff under the supervision of
Brian McEwen
, P.Geol., VP Exploration and Development to the Company. Mr. McEwen is a Qualified Person as
defined in National Instrument 43-101, and has reviewed and approved the contents of this news release.
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 recently 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 a new 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.
View original content to download multimedia:
http://www.prnewswire.com/news-releases/golden-arrow-provides-exploration-update-including-first-program-at-rosales-copper-project-chile-301130283.html
SOURCE
Golden Arrow Resources Corporation
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/September2020/14/c4565.html
%SEDAR: 00042897E
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 12:37e 14-SEP-20