Announcement Date: 2023-07-12
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Golden Arrow Resources Corp.
Project name: San Pietro
Location: Chile
Commodities: Gold,Copper,Iron,Cobalt
Highlight: Drilling results incl. 64.2m at 0.86% Cu, 0.20g/t Au, 196g/t Co, 25.9% Fe from 42.8m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: VANCOUVER, BC, July 12, 2023 /CNW/ – Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF), (“Golden Arrow” or the “Company”) is pleased to report results for the remaining six holes of the 4,000 metre Phase 1 drilling program at the Company’s flagship San Pietro Iron- Copper-Gold-Cobalt Project in Chile. All six holes reported herein are from the Rincones target, which is the most advanced target and the focus of the Company’s first resource delineation plan for the project. Brian McEwen, VP Exploration and Development for Golden Arrow, commented, “We are thrilled with the results from our first drilling at Rincones. This program was about improving our understanding of the geology and structure of the project so that we could move on to more detailed work, followed by a resource delineation program. We met our original objective at Rincones, confirmed our updated model and found excellent mineralization where we hoped, which is fantastic and means we can move forward quickly with the next program. What’s more, the surprises from drilling were all positive, including strong copper and cobalt mineralization in the largely undrilled central area of the target, and generally stronger gold mineralization than anticipated.” The 6 holes drilled in Rincones successfully validated the geological model described previously and in all cases they encountered Cu-Co-Au-Fe mineralization. Holes SP-DDH-07 and -12 confirmed the presence of wide mineralized packages close to surface below 10 to 15 metres of alluvium cover, providing confidence for conducting new exploration at covered targets. Rincones remains the most advanced target of the project and based on the Company’s work and interpretation it appears that mineralization is open in all directions. With the information collected from this program, a new 3D geological model is being constructed which will help to define priority targets for the next drilling phase.
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