Golden Arrow Commences US$1M Exploration Program at the Pescado Gold Project
November 06 2017 - 9:00AM
Golden Arrow Resources Corporation (TSX-V:GRG)
(FSE:GAC) (OTCQB:GARWF)
, “Golden Arrow” or the
“Company”) is pleased to announce the initiation of a
US$1M exploration program at its 100% owned Pescado Gold Project
(“Pescado” or “the Project) in San Juan province,
Argentina. San Juan hosts several world-class mines and
deposits, including the Gualcamayo gold mine which is situated
approximately 10 kilometres to the north of Pescado. Golden
Arrow’s management were involved in the discovery of the Gualcamayo
gold deposit.
The Project has two principal gold target areas
where large intrusive bodies intersect with major regional
faults. Previous work identified high grade gold
mineralization in these areas, including 17.6 g/t gold in outcrop
samples1. The exploration program will include additional
geophysics and surface work to refine drill targets, with up to
1,800 metres of drilling budgeted. Work permits have been
granted by the provincial mining authorities, and the technical
team is now commencing exploration at the Yanso target area.
“The Pescado Project has the attributes needed
for making a significant discovery, including proximity to existing
deposits, size, accessibility, and known mineralization in a
positive geologic setting,” commented Brian McEwen, Golden Arrow’s
Vice President of Exploration and Development. “We look forward to
advancing our knowledge of the property and bringing it to a
drilling stage.”
About the Pescado Project
The 19,784 hectare Pescado Project is 100% owned
by Golden Arrow. Pescado is situated in the Pre-Cordillera region,
at elevations ranging from 1500 metres to 2500 metres above sea
level. Gold mineralization at the Project is hosted by
structural zones within Tertiary intrusive bodies in close
proximity to Paleozoic sediments. Detailed airborne magnetic
surveys have identified two large intrusive bodies at the
intersections of major regional faults within the Project
boundaries. Strong gold geochemical anomalies coincident with the
magnetic anomalies characterize the Yanso and Pescado targets.
Outcrop sampling returned up to 17.6 g/t gold at Pescado and at
Yanso, chip channel sampling returned 38 metres averaging 0.58 g/t
gold. The property is road accessible and exploration can be
conducted year round.
Qualified Persons
Brian McEwen, P.Geol., VP Exploration and
Development to the Company 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.
1 See Golden Arrow news release dated February
19, 2008, filed on SEDAR.
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
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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. We advise U.S. investors that the SEC's
mining guidelines strictly prohibit information of this type in
documents filed with the SEC. U.S. investors are cautioned that
mineral deposits on adjacent properties are not indicative of
mineral deposits on our properties.
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