TSX Venture Exchange (TSX-V): GRG
Frankfurt Stock
Exchange (FSE): G6A
OTCQB Venture Market (OTCQB): GARWF
VANCOUVER, Dec. 3, 2018 /CNW/ - Golden Arrow
Resources Corporation (TSX-V: GRG, FSE: GAC, OTCQB: GARWF), "Golden
Arrow" or the "Company" is pleased to announce that the
Company's joint venture partner in Puna Operations Inc.,
("Puna") has declared commercial production at the
Chinchillas silver-zinc-lead mine as of December 1st 2018.
Golden Arrow Chairman and CEO
Joseph Grosso commented "From our
earliest successful exploration program at Chinchillas in 2012 we
were convinced that this deposit had the potential to reach
commercial production. We thank our partners for their
successful execution of this latest stage of the project and look
forward to a long and robust mine life to provide value to our
shareholders as we continue on our growth path."
In their news release dated December 3,
2018, Puna's operating partner, SSR Mining, reported:
"Activities required to support sustainable ore delivery from
the Chinchillas mine to the Pirquitas plant have been completed,
including pre-stripping of the pit, completion of road bypasses,
refurbishment and mobilization of the haul truck fleet, and
construction of the crushed ore stockpile dome at the Pirquitas
site. Ore delivery to the Pirquitas plant ramped up through
November, and we demonstrated targeted haulage rates. The
Pirquitas plant processed Chinchillas ore at a rate of
approximately 3,000 tonnes per day during test processing. We
expect to progressively increase to our targeted plant throughput
rate of 4,000 tonnes per day as the plant transitions to
Chinchillas ore in December 2018.
The remaining scope of the Chinchillas project includes the
completion of various infrastructure at the Chinchillas and
Pirquitas sites, which is expected to be concluded through the
first quarter of 2019. The entire project scope is on track
to be completed on budget."
Qualified Persons
Mr. 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 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.
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.
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SOURCE Golden Arrow Resources Corporation