TSX Venture Exchange (TSX-V): GRG
Frankfurt
Stock Exchange (FSE):
G6A
OTCQB Venture Market (OTCQB): GARWF
VANCOUVER, Nov. 9, 2018 /CNW/ - Golden Arrow Resources
Corporation (TSX-V: GRG, FSE: G6A, OTCQB: GARWF), "Golden Arrow" or
the "Company" is pleased to announce that the Company's joint
venture partner in Puna Operations Inc., ("Puna") has reported the
third quarter 2018 financial results for the joint venture, as well
as provided an operational update on the Chinchillas
silver-lead-zinc project in Argentina.
"We are pleased to report to our investors that Chinchillas
is on the final steps to achieving commercial production, and we
commend our operating partners for keeping the project on
budget," commented Joseph
Grosso, Golden Arrow Chairman
and CEO.
Puna's financial results were reported in SSR Mining's news
release dated November
8th, 2018, (available on SEDAR) and in the
release SSR Mining further stated:
"During the third quarter, pre-stripping activities at the
Chinchillas project continued to advance, with approximately 2.1
million tonnes of waste and 0.3 million tonnes of ore mined.
Approximately 73,000 tonnes of ore from the Chinchillas pit were
delivered to the Pirquitas mill, of which approximately 39,000
tonnes were processed in two separate test runs as part of the
project execution. The tests successfully validated
metallurgical performance of the ore and produced saleable
lead-silver and zinc concentrates."
"Construction of the in-pit tailings disposal system advanced
significantly, with welding of all carbon steel and HDPE piping to
and from the pit completed, and all slurry pumps installed and
aligned. Hydraulic testing is expected to be completed by the
end of November 2018. All electrical and instrumentation
cables were pulled between the tailings pumps and the electrical
room and final connections will be completed for overall system
commissioning in the fourth quarter. A final, key contract
was also awarded for construction of water diversion structures
around the Chinchillas pit. The fine ore stockpile dome near
the Pirquitas mill was completed by the end of October 2018.
The Chinchillas to Pirquitas access road by-passes around three
communities were completed, including road upgrades and water
crossings. The power line upgrade between Chinchillas and Pirquitas
was also completed and final connection to the Pirquitas power
plant is planned for mid-November
2018, including energizing transformers at Chinchillas.
At the Chinchillas truck shop, internal floor slabs were
completed and all structural steel erected allowing for the start
of cladding installation during the quarter. The dining room
and change house modules were also delivered to site and assembled,
and the office/administration building commenced fabrication.
Concurrent with sustainable ore delivery from the Chinchillas
mine to the Pirquitas mill, we expect that commercial production
will be achieved in the fourth quarter. Certain
infrastructure and remaining road upgrades within the scope of the
project will continue into the first quarter of 2019. The
project remains on budget."
Qualified Persons
Brian
McEwen, P.Geol., VP Exploration and Development to the
Company and a Qualified Person as defined in National Instrument
43-101, 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 Chinchillas silver-lead-zinc mine. Golden Arrow is actively exploring a new
portfolio of advanced projects in Chile, as well as other targets within its
portfolio of 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. 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
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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/golden-arrow-reports-that-puna-operations-third-quarter-results-available-300747316.html
SOURCE Golden Arrow Resources Corporation