TSX Venture Exchange (TSX-V): GRG
Frankfurt Stock Exchange (FSE): G6A
OTCQB Venture Market (OTCQB): GARWF
VANCOUVER, Dec. 5, 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 program at the Tierra Dorada gold project in
Paraguay. Mapping and sampling at
the Alvaro target area identified a new quartz vein prospect 250
metres northwest and parallel to a known prospect, and returned a
chip sample with over 47 g/t gold.
"Our mapping and sampling of the known target led to the
understanding that it was actually two significant parallel
gold-bearing vein structures," commented Brian McEwen, Golden Arrow's VP Exploration and
Development. "Further work then identified a third vein that is
more brecciated, also with high-grade gold, which represents an
exciting extension to the showing."
Further trenching and detailed mapping are expected to commence
at the Alvaro target before the end of the year.
Program Details
The 64,000-hectare Tierra Dorado
gold project covers an area of Pre-Cambrian shield in southern
Paraguay prospective for orogenic
gold deposits. Golden Arrow commenced its work program at one of
the four previously-identified target areas known as
Alvaro.
At the Alvaro target there are three known areas with
sub-outcropping high-grade gold-mineralized quartz veins over a
distance of 2.5 kilometres. At Showing 1, sampling by a previous
operator reportedly yielded assays of up to 148.4 g/t Au
(See Figure 1: https://bit.ly/2DoLNqm ). A recent detailed review
of these sub-outcrops indicates two parallel structures striking
northeast, 25 metres apart with gold-bearing massive crystalline
quartz suboutcrop occurring over a strike length of approximately
200 metres. Historic values and Golden Arrow samples averaged
59.2 g/t Au in one of the structures (based on 6 samples)
and 34.6 g/t Au in the other (based on 2 samples).
Additional field work in the area has identified a new, previously
un-sampled, sub-outcrop area of aligned quartz vein boulders 150
metres in length; a grab sample assayed 47.4 g/t
Au. This new vein is parallel to the previous two
and located 250 metres to the northwest, but is highly brecciated
including clasts of host rock, possibly indicating a significant
breccia zone in this area.
Detailed surface exploration has not yet commenced at Showings 2
or 3, but is scheduled as part of the on-going program.
For additional details on the project geology and targets,
please see the Tierra Dorada page on the Golden Arrow website:
https://goldenarrowresources.com/operations/paraguay/tierra-dorada-au.
Methodology and QA/QC
Samples collected from the sub-outcropping structures were chip
samples. 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 Tierra Dorada 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.
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SOURCE Golden Arrow Resources Corporation