Sign up USA
Proactive Investors - Run By Investors For Investors

Golden Arrow starts C$2mln programme at Antofalla

Golden Arrow Resources Corp. on Monday announced it has initiated its first exploration program at the recently optioned Antofalla silver-gold-base metal project in the province of Catamarca. The explorer also offered a corporate update
Golden Arrow starts C$2mln programme at Antofalla
Full steam ahead at Catamarca

Golden Arrow Resources Corp. (CVE:GRG) on Monday announced it has initiated its first exploration program at the recently optioned Antofalla silver-gold-base metal project in the province of Catamarca.

The explorer also offered a corporate update.

With a cash balance of approximately C$8mln, Golden Arrow has outlined a C$2mln programme that includes remote sensing, IP/Resistivity geophysics, and geochemical sampling to delineate targets that will be tested with an estimated 3km drill programme.

Historic work at Antofalla includes 18 metres averaging 128 g/t silver, 0.23 g/t gold and 0.88% lead in a drill hole and two metres averaging 9.2 g/t gold, 52 g/t silver and 5% lead in historic trench samples.

The 8,760 hectare Antofalla project has strong geologic similarities to the Company's flagship Chinchillas silver project, where a development decision is expected at the end of the year.

Chinchillas Pre-Development Programme

The pre-development work is advancing at the Chinchillas Silver Project in Jujuy, Argentina. In particular, Golden Arrow is continuing its community relations efforts to establish secure and lasting social licence for the project.

Exploitation permitting for the project is proceeding routinely, with the critical Environmental Report having been submitted to the mining authorities in September.

A drilling programme is underway to support mine planning, and the pre-feasibility study work is expected to be complete by the end of the year.

Corporate Update

“With the recent softness in the overall market we are gratified to see continued high trading volume for Golden Arrow. We are confident that a return to market strength will lead to a further increase of our market capitalization, and in the meantime we will continue to build and advance our strong asset base,” said Joseph Grosso, President and CEO of Golden Arrow.

Golden Arrow's strategy is to maximise value in all market conditions by maintaining a pipeline of strong mineral project assets from exploration to development stage.In addition to Chinchillas and Antofalla, the Company’s technical team is reviewing dozens of orphaned projects for acquisition, and continuing the evaluation of the existing portfolio of over 214,000 hectares of well-located properties in Argentina.

View full GRG profile View Profile

Golden Arrow Resources Timeline

Related Articles

gold.jpg
May 09 2017
Latin American Minerals will shortly be producing 300 ounces of gold per month from tailings at the Independencia mine in Paraguay
Robert Thomson, managing director, Stonewall Resources
May 18 2017
Robert Thomson talked pathway to gold production with investors.
lorry on a mine
January 04 2017
The explorer has several exciting joint ventures on the go in Europe
Copyright © Proactiveinvestors.com, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use