TSX Venture Exchange (TSX-V): GRG
Frankfurt
Stock Exchange (FSE): G6A
OTCQB Venture Market
(OTCQB): GARWF
VANCOUVER, BC, Feb. 9, 2021 /CNW/ - Golden Arrow Resources
Corporation (TSX-V: GRG) (FSE: G6A)
(OTCQB: GARWF) ("Golden Arrow" or the
"Company).
The New Year is underway, as President, CEO and Chairman of
Golden Arrow Resources Corporation ("Golden Arrow" or the
"Company"), I would like to share some comments and provide you
with various links to Golden Arrow's
new website that provides additional information on the Company's
current activity.
The Coronavirus crisis has affected societies and economies
around the world. Golden
Arrow's management continues to stay selectively active in
Argentina, Chile and Paraguay, moving the Company toward making new
valuable discoveries that can potentially be sold for cash and
carried royalties to major producing companies.
In 2021, Golden Arrow continues
to explore its strategically located portfolio that includes the
new epithermal Flecha de Oro Gold Project in Argentina; the district–scale Tierra Dorada
Gold Project in Paraguay; and the
Rosales Copper Project in the heart of a leading copper district in
Chile as well as continuing to
evaluate advanced opportunities.
Readers should find it of great interest to know that despite
the challenging times, Golden Arrow
is executing drilling and exploration programs in the three
countries as follows:
- As reported on January 19, 2021,
Golden Arrow had a high–grade drill
result at its Tierra Dorada Gold Project in Paraguay, highlighted by an intercept at the
Alvaro target of 143.5 g/t gold over 0.5 metres within 6
metres averaging 14.53 g/t gold at 3 – 9 metres depth. The
shallow drilling program and the recent first induced polarization
(IP) geophysical program are helping to delineate the targets at
Tierra Dorada.
- The large size of the Tierra Dorada project in Paraguay (64,000 hectares), its underexplored
nature, and the prospective geology, provide an excellent
opportunity for Golden Arrow to
discover one or more high-grade, quartz vein-hosted gold
deposits.
The Alvaro target has multiple areas with high–grade gold in quartz
veins, including some visible gold. Golden
Arrow is planning up to 2,000 metres of drilling starting in
Q1 2021.
- Golden Arrow has staked an
additional 10,700 hectares to cover El Cabo (Arenales) target.
In Argentina:
- Further to the announcement on December
7, 2020, Golden Arrow is
continuing with a trenching and sampling program at the Flecha de
Oro Gold Project in Rio Negro
Province. The trenching program is now continuing on the
Esperanza target where Golden Arrow
has found high–grade and visible gold in surface sampling of vein
corridors.
Golden Arrow has a successful
track–record of creating value having made multiple precious and
base metal discoveries and advancing them into exceptional deposits
for sale to major producers. The Company is well–leveraged to
the price of gold having monetized its Chinchillas Silver discovery
into a significant financial base in the precious metals producer
SSR Mining Inc.
In Chile:
- Golden Arrow has completed the
first pass of sampling at the Rosales Copper Project and plan to
follow up with a trenching program.
- Golden Arrow has extended its
staking and is waiting for the granting of additional concessions
around the Rosales Copper Project.
- Management continues to evaluate advanced copper projects.
The above Five Step Development graphic illustrates Golden Arrow's strategy to fast–track and
advance geology work in progress that cost the Company
approximately $30M during the first
eleven years. Management and our technical team have the
funding and infrastructure in place to continue advancing projects
in three countries.
Golden Arrow's strong treasury
positions the Company to fast–track its work in progress to
potentially generate multiple new discoveries this year that would
sizeably add to the Company's share asset value. I want to
thank all of our shareholders for their continued support and wish
all of you good health and the very best in 2021.
For further details, visit Golden
Arrow's website at www.goldenarrowresources.com and
view the CEO's video
at https://goldenarrowresources.com/investors/presentations/ and Corporate
video at
https://goldenarrowresources.com/investors/reports-and-interviews/.
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