Golden Arrow Reports that Puna Operations Third Quarter Results Available
Golden Arrow Reports that Puna Operations Third Quarter
Results Available
TSX Venture Exchange (TSX-V):
GRG
Frankfurt Stock Exchange (FSE):
G6A
OTCQB Venture Market (OTCQB):
GARWF
VANCOUVER
,
Nov. 9, 2018
/CNW/ -
Golden Arrow Resources Corporation (TSX-V: GRG, FSE: G6A, OTCQB: GARWF),
"Golden Arrow" or the "Company"
is pleased to announce that the Company's joint venture partner in Puna Operations Inc.,
("Puna") has reported the third quarter 2018 financial results for the joint venture, as well as provided an operational update on the
Chinchillas silver-lead-zinc project in
Argentina
.
"
We are pleased to report to our investors that Chinchillas is on the final steps to achieving commercial production, and we
commend our operating partners for keeping the project on budget,
" commented
Joseph Grosso
,
Golden Arrow
Chairman and
CEO.
Puna's financial results were reported in SSR Mining's news release dated
November 8
th
, 2018, (available on SEDAR) and in the
release SSR Mining further stated:
"During the third quarter, pre-stripping activities at the Chinchillas project continued to advance, with approximately 2.1 million tonnes
of waste and 0.3 million tonnes of ore mined. Approximately 73,000 tonnes of ore from the Chinchillas pit were delivered to the
Pirquitas mill, of which approximately 39,000 tonnes were processed in two separate test runs as part of the project execution. The
tests successfully validated metallurgical performance of the ore and produced saleable lead-silver and zinc concentrates."
"Construction of the in-pit tailings disposal system advanced significantly, with welding of all carbon steel and HDPE piping to and
from the pit completed, and all slurry pumps installed and aligned. Hydraulic testing is expected to be completed by the end of
November 2018. All electrical and instrumentation cables were pulled between the tailings pumps and the electrical room and final
connections will be completed for overall system commissioning in the fourth quarter. A final, key contract was also awarded for
construction of water diversion structures around the Chinchillas pit. The fine ore stockpile dome near the Pirquitas mill was
completed by the end of
October 2018
.
The Chinchillas to Pirquitas access road by-passes around three communities were completed, including road upgrades and water
crossings. The power line upgrade between Chinchillas and Pirquitas was also completed and final connection to the Pirquitas power
plant is planned for
mid-November 2018
, including energizing transformers at Chinchillas.
At the Chinchillas truck shop, internal floor slabs were completed and all structural steel erected allowing for the start of cladding
installation during the quarter. The dining room and change house modules were also delivered to site and assembled, and the
office/administration building commenced fabrication.
Concurrent with sustainable ore delivery from the Chinchillas mine to the Pirquitas mill, we expect that commercial production will be
achieved in the fourth quarter. Certain infrastructure and remaining road upgrades within the scope of the project will continue into
the first quarter of 2019. The project remains on budget."
Qualified Persons
Brian McEwen
, P.Geol., VP Exploration and Development to the Company and a Qualified Person as defined in National Instrument
43-101, has reviewed and approved the contents of the news release.
About
Golden Arrow
:
Golden Arrow Resources Corporation is an exploration company earning production income. The Company has a successful track
record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits.
Golden Arrow
owns a 25% share of Puna Operations Inc., a joint venture operated by SSR Mining, with more than 8 years of forecast production
and upside potential at the Chinchillas silver-lead-zinc mine.
Golden Arrow
is actively exploring a new portfolio of advanced projects
in
Chile
, as well as other targets within its portfolio of more than 200,000 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. 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. 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.
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SOURCE
Golden Arrow Resources Corporation
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%SEDAR: 00042897E
For further information:
Corporate Communications, Tel: 1-604-687-1828, Toll-Free: 1-800-901-0058, Email:
CO: Golden Arrow Resources Corporation
CNW 09:30e 09-NOV-18