Golden Arrow Resources Corp. (CVE:GRG) on Monday provided the results of assaying of the final 12 drill holes in the phase VI drilling program at its Chinchillas silver project in Jujuy province, Argentina.
The drilling program is part of the Chinchillas project predevelopment activities, financed by Silver Standard Resources Inc., which are being undertaken to evaluate the feasibility of creating a combined mining business with Silver Standard's Pirquitas mine, as announced Oct. 1, 2015.
The objective of the drill program is exploration for resource potential as well as condemnation of certain areas for potential future mine infrastructure. Drill targets included the Chinchillas South area where seven previous drill holes had returned significant zinc and silver intervals up to 1.5 kilometres away from the main Chinchillas deposit.
Selected highlights from these drill holes include 118 grams per tonne (g/t) silver and 1.2% lead and 1.1% zinc over 10 metres in CGA-323 as well as 146 g/t silver and 4.0% lead and 2.4% zinc over three metres in CGA-324.
A further 115 g/t silver and 3.1% lead and 3.5% zinc over three metres in CGA-326, as well as 167 g/t silver and 2.0% Pb and 1.5 per cent Zn over 18 metres in CGA-327, including 313 g/t silver and 2.6% Pb and 1.2 per cent Zn over six metres.
The drilling of phase VI holes is now complete, with a total of 7,188 metres over 34 holes including seven short reverse circulation holes and one hole redrilled for a water well.
"We are pleased with the results of the phase six program, which met all of its objectives. It is particularly gratifying to see that even as we work to complete pre-feasibility studies for the development of the main deposit, we have already delineated three areas with the potential to add resources to the project in the future," commented Brian McEwen, Golden Arrow's vice-president of exploration and development.