TSX Venture Exchange (TSX-V): GRG
Frankfurt Stock Exchange (FSE): G6A
OTCQB Venture Market (OTCQB): GARWF
VANCOUVER, BC, Dec. 7, 2020 /CNW/ - Golden Arrow
Resources Corporation (TSXV: GRG) (FSE: G6A)
(OTCQB: GARWF), ("Golden Arrow" or the
"Company") is pleased to announce the commencement of a
trenching and sampling program at the Flecha de Oro Gold Project in
Rio Negro Province, Argentina ("Flecha
de Oro", or the "Project"). The program will
focus on the Puzzle property, where gold mineralization has been
identified in a large quartz vein and adjacent quartz stockwork
zone within a corridor over 6.5 kilometres in length and more than
150 metres in width.
Brian McEwen, Golden Arrow's VP Exploration and Development
commented: "We are pleased to be back to field work in
Argentina, and in particular at
the Flecha de Oro Project. It's a great time to be exploring
for gold, and at this project where we have the potential to
identify multiple large gold systems. We look forward to a busy
2021 during which we will be actively exploring at all three
properties that comprise Flecha de
Oro."
The vein corridor at Puzzle is coincident with a magnetic low,
as identified by a ground magnetic survey (see News Release dated
March 2, 2020). The trenching program is planned to include
approximately 18 trenches totaling 2,500 metres, excavated
across the vein corridor along 6.2 kilometres of strike length, to
delineate targets for a potential 2021 drilling program (see
Figure 1: https://bit.ly/2VFQ2au ).
The technical team has obtained all permits required for the
program, including approval of new COVID–19 protocols that follow
the guidelines provided by the provincial and local authorities,
and the installation of a temporary camp at the Project to avoid
contact with the nearby community. The team is now on-site, and the
work is expected to continue until approximately the end of
January.
About the Flecha de Oro Gold Project, Argentina
The Flecha de Oro Gold Project in Rio
Negro Province, Argentina,
consists of three separate property packages, Puzzle
(1,952 hectares), Esperanza (9,968 hectares) and
Maquinchao (2,000 hectares) for a total tenure position
covering 13,920 hectares in an area that is prospective for
large epithermal precious metal deposits. Applications have
been made for two additional concessions around the initial
Esperanza property totaling over 14,500 hectares and for two
additional concessions totaling over 2,500 hectares around the
Puzzle property.
The Project lies within the Somuncara Massif, where low and high
sulphidation gold systems have been explored for since the first
discovery of gold in the area in 1995. Examples of other
gold-silver projects in the area include the Calcatreu low
sulphidation gold-silver project located 165 kilometres to the
southwest, hosting 746,000 oz of Indicated gold equivalent
resources and a further 390,000 oz of Inferred AuEq
resources1.
1 http://patagoniagold.com/operations/mineral-resources-and-mineral-reserves/
(12/04/2020)
|
[Golden Arrow cautions that
proximity to a mineral resource does not indicate that
mineralization will occur on Golden
Arrow's property, and if mineralization does occur, that it
will occur in sufficient quantity or grade that would result in an
economic extraction scenario. Results from other companies are not
necessarily indicative of expected Golden
Arrow results, as there has been insufficient exploration on
the properties held by Golden
Arrow.]
The gold mineralization at the Puzzle property occurs in
epithermal quartz veins, stockworks and hydrothermal breccias,
hosted by a 150–250–million-year old volcanic complex. Ground
magnetic surveys and geochemical sampling to date have delineated a
corridor 6.5 kilometres long and more than 150 metres
wide with a main mineralized quartz vein and an adjacent quartz
stockwork zone. The corridor is open in both directions. For
additional details on the project, including maps and diagrams,
please refer to the project page on the website
https://goldenarrowresources.com/.
Methodology and QA/QC
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 are inserted in each batch of samples sent to the
laboratory for analysis. Field samples will be shipped for
preparation and analysis at ALS Laboratories, an internationally
recognized assay service provider. Samples will be 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.
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 this 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 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 a new epithermal gold project
in Argentina, a district–scale
frontier gold opportunity in Paraguay, a base-metal project in the heart of
a leading mining district in Chile
and more than 180,000 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. All statements, other than statements of historical
fact, that address activities, events or developments the Company
believes, expects or anticipates will or may occur in the future,
including, without limitation, statements about the Company's plans
for its mineral properties; the Company's business strategy, plans
and outlooks; the future financial or operating performance of the
Company; and future exploration and operating plans are
forward-looking statements.
Forward-looking statements are subject to a number of risks
and uncertainties that may cause the actual results of the Company
to differ materially from those discussed in the forward-looking
statements and, even if such actual results are realized or
substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on, the Company.
Factors that could cause actual results or events to differ
materially from current expectations include, among other things:
the impact of COVID-19; risks and uncertainties related to the
ability to obtain, amend, or maintain licenses, permits, or surface
rights; risks associated with technical difficulties in connection
with mining activities; and the possibility that future
exploration, development or mining results will not be consistent
with the Company's expectations. 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, unless
required pursuant to applicable laws.
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SOURCE Golden Arrow Resources Corporation