- Strong treasury with C$29.1 million in cash
- Gold focused portfolio with discovery potential
- Strong, experienced management
What Golden Arrow does:
The group has been involved with four major world-class discoveries previously in South America, which are either in production or about to be.
The firm does not take projects into production itself. Its expertise is to acquire assets and advance them up the value-chain to pre-feasibility stage. The goal is to sell the discoveries for cash or for cash and a 'carried participation' production royalty for the life of mine. Golden Arrow is currently advancing three properties.
In Paraguay, one of the last under-explored areas of South America, it has the Tierra Dorada gold project, where historic work has shown multiple targets.
In Argentina, the firm has the Flecha de Oro gold project, which comprises an option to earn 100% of around 140 square kilometres (km) in three properties. The asset has high and low sulphidation epithermal gold targets and high grades have been found in surface samples.
Last but not least, the firm owns the recently acquired Rosales copper project, which spans 1,450 hectares in Chile and which lies 90km from Copiapo by road and boasts excellent infrastructure. Golden Arrow has applied for a further 874 hectares of adjacent concessions.
How is it doing:
On July 30, 2020, Golden Arrow said it had initiated a 500-metre shallow diamond drilling program at the Tierra Dorada gold project.
At the Alvaro target area, mapping and sampling has delineated at least four prospective gold vein showings, and sampling has returned multiple high-grade gold assays from these veins. The most recent trench channel samples returned results, including 11.14 grams per ton (g/t) gold and 6.36 g/t gold from a 0.78 wide vein.
Ten days earlier, the firm had announced the acquisition of the Rosales copper asset in Region III, Chile, which is adjacent to claims hosting a currently operating small-scale underground Margarita mine. Golden Arrow said it was embarking on a Phase 1 exploration program that is expected to include detailed mapping and sampling, as well as ground magnetics and IP/resistivity and geophysical surveys.
Meanwhile, on June 8, the firm told investors that mapping and vein sampling at its Flecha de Oro gold project in Rio Negro, Argentina had delineated a new high-grade gold target on the Esperanza property.
The new target includes a series of sub-parallel quartz veins in an apparent structural corridor that was mapped over 230 meters in length and up to 30 metres of width, the firm said. A highlight sample assay included 24.4 grams per ton (g/t) gold and 13.6 g/t silver from a float/boulder sample.
"The Flecha de Oro exploration program is advancing nicely with the addition of this new high-grade gold target at the Esperanza property, located more than a kilometre and a half north of the high-grade samples we reported in early March. In addition, the new Maquinchao properties expand our prospective area, further increasing our chances to discover a major epithermal deposit at the project," the group told investors.
- More exploration results
- Metals price moves including gold
What the boss says:
On August 13 this year, Golden Arrow's vice-president Niko Cacos spoke to Precative’s Steve Darling and said the next six months would be dominated by work on the ground.
"We've got three projects in three different jurisdictions. We're funded to go forward," he said.
"As we get the results back from those drilling assays, with some positive holes here, I think you're going to see a company like Golden Arrow be completely transformed and achieve the recognition it deserves in the market."