Golden Arrow Resources Corp (CVE:GRG) says a 3,000 meter (m) drill program will kick off at the Antofalla silver-gold base metal project in Argentina in the fourth quarter of the year.
The first part of the US$2mln program at the site in Catamarca province is now complete, including sampling and surveys, and significant targets were identified, the group said.
These include a 500m by 500m soil anomaly including several areas of 40 to 91 parts per million (ppm) silver that includes and expands the previously identified File del Volcan and Colorada breccia targets.
Channel sampling showed 3.65 metres averaging 103 g/t (grams per tonne) silver and 1.8 per cent lead.
Another new copper vein target showed 568 parts per million silver, 2.02 parts per million gold and 0.41 per cent copper in a rock sample, the firm said.
"We are pleased with the program results from Antofalla so far this year and look forward to working through all the data to plan follow-up exploration and drilling in the Argentine spring season," said Brian McEwen, the group's vice-president of exploration and development.
Ahead of the Antofalla drilling, Golden Arrow said it would start exploration at the Pescado gold project in San Juan province.
"The team is also enthusiastic about getting back onto the Pescado project, which has been the subject of preliminary work in the past that has generated two very interesting targets for a potential gold discovery."
Golden Arrow has 25% of Puna Operations Inc, which is a joint venture operated by major miner Silver Standard, with more than eight years of forecast production and upside potential at the Pirquitas-Chinchillas silver mining project.
It is also actively exploring on its more than 200,000 hectares of properties in Argentina, including the new Antofalla silver-gold-base-metal project with similarities to Chinchillas.