viewGolden Arrow Resources Corp

Golden Arrow Resources has the experience and assets for further potential success in South America


Golden Arrow's sale of its 25% interest in the joint venture which owned Chinchilla to SSR Mining in a C$44.4 million transaction was completed in September

Golden Arrow Resources Corp -

Quick facts: Golden Arrow Resources Corp

Price: 0.175 CAD

Market: TSX-V
Market Cap: $20.77 m
  • Pioneers in exploration
  • Financially robust

  • Exciting exploration portfolio in South America

What the company does:

Golden Arrow Resources Corporation (CVE:GRG) (OTCMKTS:GARWF) is an explorer and a member of the Grosso Group, a resource-focused management firm, and a pioneer of exploration in Argentina.

Followers of the firm will know its history linked to the Chinchillas silver project in the south American country, which was discovered seven years ago and delineated between 2012 and 2015 before it was combined with Silver Standard Resources Inc's (now SSR Mining) Pirquitas mine.

Golden Arrow's sale of its 25% interest in the joint venture which owned Chinchilla to SSR Mining in a C$44.4 million transaction was completed in September this year and Golden Arrow now benefits from a significant equity interest in SSR Mining, giving upside potential and leverage to gold and silver. 

The sale of Chinchillas netted Golden Arrow C$28 million after payment of all outstanding obligations, and the group is now debt-free. 

Over the years, the group has generated three major discoveries - the Gualcamayo gold deposit, the Navidad silver deposit, and Chinchillas.

Today, it is advancing projects, which, it says, have a short path to production, and are in underexplored locations.

It holds a district-scale frontier gold opportunity in Paraguay called the Tierra Dorada project. It also has the Indiana gold, copper project in Chile and the Atlantida gold, copper project, also in that country.

It boasts over 185,000 hectares of prospective ground in Argentina, including a new potential epithermal gold project, named the Flecha de Oro gold project in Argentina.

How is it doing:

In October this year, Golden Arrow revealed it had hired experienced geologist Juan Carlos Benítez Maldonado as country manager for Paraguay.  He took part in the discovery of the Paso Yobai gold deposit, and the start-up and operation of the Independence mine, the first gold mine in Paraguay.

The company also outlined its goals for the next six months and confirmed it was currently exploring in three countries in South America.

In Paraguay, at Tierra Dorada, multiple gold targets have been defined in an area dominated by flat topography and sparse outcrop, the firm said, and sampling results have included rock chip assays of between 3.3 grammes per tonne (g/t) and 15.1 g/t gold from a 2.5 kilometre (km) trend.

Upcoming goals include completing surface access agreements, developing detailed targets via mapping, surface sampling, a ground IP/magnetic geophysical survey, and trenching.

Meanwhile, in Chile, the firm recently completed a six-hole reverse circulation (RC) drill program at the consolidated Atlantida gold-copper project. 

While the firm continues to evaluate the potential of the area, it chose not to go ahead with the C$400,000 payment due on October 3, for one of the two option agreements, thus relinquishing a portion of the Atlantida project, including those areas hosting historic resources.

Elsewhere, at the Indiana gold-copper project, it is completing pre-drilling work, prior to conducting a planned 3,000-metre drilling program in order to delineate the previously identified mineralized veins.

The current focus in Argentina is exploring the new Flecha de Oro gold project including two properties, Puzzle (1,952 hectares) and Esperanza (9,968 hectares), covering around 12,000 hectares in Rio Negro.

Initial surface sampling returned positive results and included five metres grading 13.1 g/t gold and 0.2 metres (m) grading 11.2 g/t gold from chip samples across two parallel quartz veins located 600 metres apart.

On December 3 this year, there was more good news from Flecha de Oro, and the Esperanza property, with high grades received from channel sampling underway on multiple veins. Highlight results included 24 g/t gold over 2m and 4.16 g/t  gold over 2m.

In addition, a distinct set of veins host silver-base metal mineralization, the company said, with 99 g/t silver and 2.8% copper over 0.2m.

The samples exhibit similarities to other epithermal precious-metal producing districts, including high-grade precious and base metal mineralization, and the variety and extent of epithermal textures, noted Brian McEwen, Golden Arrow’s vice-president of exploration and development.

Following these initial results from Esperanza, applications have been made for two additional concessions around this property, totalling over 14,500 hectares.

Inflection points:

  • More exploration results
  • Acquisition of more ground

What the boss says:

In a shareholder update in October, chairman Joseph Grosso, said: "Golden Arrow’s property portfolio has been developed over the past 26 years and constitutes an aggressive and exceptional pipeline with the potential to generate shareholder value.

"The portfolio currently includes multiple projects with discovery potential including our newly acquired properties in Chile and Paraguay. Our focus is to advance and develop these assets in our portfolio concurrently while seeking to acquire additional highly discounted advanced assets."

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on 09/16/2020

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