Golden Arrow Resources Corp (CVE:GRG) shares nudged higher as it revealed it is to dig deeper into the Antofalla silver-gold-base-metal project in Argentina as it kicked off a first diamond drill programme.
The work is planned to include up to 3,000 metres on multiple targets, which were uncovered in the 2017 surface exploration and trenching programmes.
The firm is also targeting the production start-up, within the next few months, of the Chinchillas silver deposit, also in Argentina.
Puna Operations Inc, in which Golden Arrow has 25%, is the joint venture operated by SSR Mining, which combines the Chinchillas project with Silver Standard's producing Pirquitas operation.
"Our initial exploration results at Antofalla confirmed similarities with our Chinchillas silver deposit and identified previously unreported targets," said Brian McEwen, Golden Arrow's VP of exploration and development.
"We completed more detailed work, including trenching, in the fourth quarter of 2017, in order to prioritise the various zones. We now look forward to our first look at the sub-surface of these exciting targets."
Targets in the program..
Targets for the drilling program include the Colorada Breccia - a series of breccias with positive drill results for gold and silver by previous operators.
Filo del Volcan hosted channel sampling in 2017 and one of the three pipes there averaged 8.35 meters (m) at 168 g/t (grams per ton) silver, including 1m with 441 g/t silver.
The Domos Norte target was also defined by Golden Arrow and includes an area of more than 350 metres by 50 metres of hydrothermal breccias with fine quartz veinlets hosting high-grade silver.
One hole is planned for this target, with a second subject to results, the company said.
A t the Filo Blanco target, one hole of 600m (meters) depth is planned at this target.
Golden Arrow is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
Shares in Toronto added 1.67% to stand at C$0.61.