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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Golden Arrow Resources Corporation | TSXV:GRG | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.02 | 36.36% | 0.075 | 0.065 | 0.08 | 0.08 | 0.06 | 0.065 | 149,000 | 21:00:49 |
“Our initial exploration results at Antofalla confirmed similarities with our Chinchillas Silver Deposit and identified previously unreported targets,” commented Brian McEwen, Golden Arrow’s Vice President of Exploration and Development. “We completed more detailed work, including trenching, in the fourth quarter of 2017, in order to prioritize the various zones. We now look forward to our first look at the sub-surface of these exciting targets.”
The main focus of exploration is the "Dome Zone" an area of approximately 4 by 4 kilometres which includes a series of dacitic and rhyolitic volcanic domes and flows, dacitic breccias and a wide range of pyroclastics units. Two drill rigs are in use, working two shifts daily, and drilling is expected to continue until the middle of the second quarter.
About the Antofalla Project
The Antofalla Project includes a Miocene Dome complex hosted in Permian conglomerates and sandstones, with signatures of both high and low sulphidation epithermal mineralization. Mineralization was identified in several areas of the Dome Zone by prior operators, and a review of the initial data indicated similarities to the geologic model for Golden Arrow’s Chinchillas silver project in Jujuy province which is now being developed by Puna Operations Inc. (https://goldenarrowresources.com/projects/jujuy-province/chinchillas). In 2016-2017 Golden Arrow completed mapping, chip and channel sampling, detailed soil sampling and surface IP/Resistivity surveys (see news releases dated October 17th, 2016, May 7th, 2017 and July 11, 2017, filed on SEDAR) followed by 700 metres of trenching in the fourth quarter of the year. The trenching and drilling programs required significant road building and road upgrading to better access target areas, and a temporary camp currently accommodating 32 people was installed on-site in February 2018 to accommodate workers for the current drill program.
Targets for the drilling program include:
Photos of drilling will be posted to the Antofalla page on the Company website.
Methodology and QA/QC
Sample preparation and analysis was done at Alex Stewart-Mendoza, an internationally recognized assay service provider. Rock samples were assayed for gold by Fire Assays/Atomic Absorption finish and analyzed for a multi-element package by ICP-OES following a four acid digestion. Silver results >100 Ag g/t were re-analyzed by fire assay with a gravimetric finish on 50-gram samples. Lead and zinc results >10,000 ppm were re-analyzed by a three acid digestion and ICP-OES detection. The Company follows industry standard procedures for the work carried out on the Antofalla Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate and standard samples were inserted in each batch of samples sent to the laboratory for analysis. Golden Arrow detected no significant QA/QC issues during review of the data.
Qualified Persons
The results of the Company's exploration program have been reviewed, verified (including sampling, analytical and test data) and compiled by the Company's geological staff under the supervision of Brian McEwen, P.Geol., VP Exploration and Development to the Company. Mr. McEwen is a Qualified Person as defined in National Instrument 43-101, and has reviewed and approved the contents of the news release.
About Golden Arrow:
Golden Arrow Resources Corporation is an exploration company earning production income. The Company has a successful track record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits. Golden Arrow owns a 25% share of Puna Operations Inc., a joint venture operated by SSR Mining, with more than 8 years of forecast production and upside potential at the Pirquitas -Chinchillas silver mining project. Golden Arrow is actively exploring on its more than 200,000 hectares of properties in Argentina. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
“Joseph Grosso” _______________________________Mr. Joseph Grosso, Executive Chairman, President and CEO
For further information, please contact: Corporate Communications Tel: 1-604-687-1828 Toll-Free: 1-800-901-0058Email: info@goldenarrowresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements.
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