TSX Venture Exchange (TSX-V): GRG
Frankfurt Stock Exchange (FSE): G6A
OTCQB Venture Market (OTCQB): GARWF
VANCOUVER, Dec. 3, 2019 /CNW/ - Golden Arrow Resources
Corporation (TSX-V: GRG, FSE: G6A, OTCQB: GARWF), ("Golden Arrow"
or the "Company") is pleased to provide an update regarding its
ongoing exploration programs at the Flecha de Oro gold project in Rio Negro Province, Argentina. As part of
the ongoing surface exploration program at the Esperanza property,
detailed channel sampling is underway on multiple veins identified
to date, which have a cumulative strike length of more than 16
kilometres. (See Figure 1: https://bit.ly/2qTt6bS).
Highlights of gold analytical results received so far, from samples
collected across individual veins include:
- 24.0 g/t Au over 2 metres
- 4.16 g/t Au over 2 metres
- 4.21 g/t Au over 1 metre
In addition, a distinct set of veins host silver-base metal
mineralization and are believed to represent a separate pulse of
mineralization. Highlights include:
- 99 g/t Ag and 2.8% Cu over 0.2m
- 129 g/t Ag, 3.5% Cu and 0.2% Bi over 1.2m
- 52 g/t Ag, 0.25% Cu and 724 g/t V over 0.3m
- 88 g/t Ag, 5.53% Pb and 2.21% Zn in vein float
samples
"These early surface samples at Esperanza exhibit
similarities to other epithermal precious-metal producing
districts, including high-grade precious and base metal
mineralization, and the variety and extent of epithermal
textures," commented Brian
McEwen, Golden Arrow's VP
Exploration and Development. "This supports our belief in the
potential to discover a significant deposit at the project, and we
look forward to delineating targets as we move the program
forward."
Ground magnetic surveying, surface mapping and sampling
continues and will be followed by detailed mapping and trenching in
the highest potential areas to refine Phase I drilling
targets. At the Puzzle property, a ground
magnetic survey is in progress to define the extension of the low
magnetic anomaly identified earlier this year (see News Release
dated September 25th,
2019). This low magnetic anomaly is coincident with quartz vein and
stockworking, with gold mineralization.
About the Flecha de Oro Gold Project, Argentina
The Flecha de Oro gold project
in Rio Negro Province, Argentina, consists of two separate property
packages, Puzzle (1,952 hectares) and Esperanza (9,968 hectares)
and is located in an area that is prospective for large epithermal
precious metal deposits. Following receipt of the initial
results at Esperanza, applications have been made for two
additional concessions around the initial Esperanza property
totaling over 14,500 hectares.
At Puzzle, gold is hosted by epithermal quartz veins, stockworks
and hydrothermal breccias; at the nearby Esperanza property gold is
associated with 16 kilometres of quartz and chalcedony veins with
banded, colloform and crustiform epithermal textures. Golden Arrow is currently engaged in an
extensive geological mapping, sampling, and ground magnetic
surveying program.
The Company is using the Cerro Vanguardia district as an
exploration model for the Esperanza property. There are geological
similarities between the two areas, in particular the presence of
swarms of low sulphidation epithermal quartz veins in an area of
approximately 100 square kilometres. The Cerro Vanguardia district
is located in Santa Cruz province
in southern Argentina, and
includes over 100 gold and silver-bearing epithermal veins. The
district has a cumulative exposed vein strike extent of more than
240 kilometres, and has produced more than 4.5 million ounces of
gold over the last 20 years[1] (Readers are cautioned that
results from other companies, including on properties proximal to
those controlled by the Company, are not indicative of expected
Golden Arrow results, as there has
been insufficient exploration on these properties. These facts are
simply used to aid in the exploration of these properties).
Methodology and QA/QC
Samples were collected by chip channeling across the veins.
Field samples were shipped for preparation and analysis at Bureau
Veritas Mineral laboratories, former ACME LABS, an internationally
recognized assay service provider. Samples were prepared at their
facility in Mendoza, Argentina and
assayed for gold by Fire Assay/Atomic Absorption finish and
analyzed for a multi-element package by ICP-OES following a
four-acid digestion at their laboratory in Lima, Peru. The Company follows industry
standard procedures for the work carried out on the Flecha de Oro
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 a mining exploration
company with a successful track record of creating value by making
precious and base metal discoveries and advancing them into
exceptional deposits. The Company is well-leveraged to the price of
gold, having recently monetized its Chinchillas silver discovery
into a significant holding in precious metals producer SSR Mining
Inc.
Golden Arrow is actively
exploring a portfolio that includes advanced projects in
Chile, a district-scale frontier
opportunity in Paraguay, and more
than 185,000 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.
1
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SOURCE Golden Arrow Resources Corporation