Golden Arrow Starts Diamond Drilling at the Tierra Dorada Gold Project, Paraguay
Golden Arrow Starts Diamond Drilling at the Tierra Dorada Gold
Project, Paraguay
TSX Venture Exchange (TSX-V):
GRG
Frankfurt Stock Exchange (FSE):
G6A
OTCQB Venture Market (OTCQB):
GARWF
VANCOUVER, BC
,
Aug. 28, 2020
/CNW/ -
Golden Arrow Resources Corporation
(TSXV: GRG) (FSE: G6A) (OTC: GARWF)
, ("Golden
Arrow"
or the
"Company")
is pleased to report that drilling has commenced for the previously announced 500-metre diamond drilling
program at the Tierra Dorada gold project in
Paraguay
. The program will focus on the Alvaro target area, where multiple vein
showings have returned high-grade gold from surface and trench sampling. Highlights of previously announced results in the area include:
Boulder and vein samples 47.4 g/t Au, 13.7 g/t Au
89.5 g/t gold and 61 g/t silver over 0.93 metres, including 143.40 g/t gold and 95.8 g/t silver over 0.58 metres, in Trench 1 at Showing
1
11.14 g/t gold and 6.36 g/t gold from a 0.78 wide vein at Trench T-6 in Showing 4
(Please see News Releases dated
December 5, 2019
,
May 27, 2020
and
July 30, 2020
for full details of the sampling programs, including
QA/QC.)
With the current prospecting permit for the Tierra Dorado project, the Company can drill holes up to 20 metres in depth. This is sufficient for
testing near-surface prospects to delineate targets for deep drilling in greater detail than is possible with trenching.
Golden Arrow
has
selected the Paraguayan company MasterGold S.A. for drilling services, using a diamond drill that will recover HQ diameter core. The
program will include a nominal 500 metres of drilling which is expected to test at least 8 of the known quartz vein Showings, including the
hanging wall and footwall rocks which were difficult to sample with trenching.
The drill program is estimated to take approximately one month to complete, and may be expanded depending on results.
Regional mapping, stream and rock sampling continues in both the north and south property blocks of the project. An Induced Polarization
(IP) survey is also planned to aid in delineating targets under cover (see News Release dated
May 27, 2020
). The survey will commence
once the Chilean-based geophysical team is permitted entry to
Paraguay
, which is currently restricted due to COVID-19 regulations.
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 the Tierra Dorada Project
The Tierra Dorado 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
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.
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-starts-diamond-drilling-at-the-tierra-dorada-gold-project-paraguay-301120120.html
SOURCE
Golden Arrow Resources Corporation
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/August2020/28/c6989.html
%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 06:30e 28-AUG-20