Published: June 2, 2016 |

[Click image to enlarge]

[Click image to enlarge]

Golden Arrow Resources Corporation has commenced a 6,500 meter Phase VI drilling and exploration program at the Chinchillas silver project in Jujuy Province, Argentina. The drill program will focus on exploration and condemnation drill holes, as well as infill holes as necessary.

The previous Phase V, 15,000 meter, drill program was successful in converting a significant portion of the resources within the high grade Silver Mantos area to the measured and indicated categories required for prefeasibility or feasibility level engineering. The Phase V and VI drill programs are part of the Chinchillas Project pre-development activities, funded by Silver Standard Resources Inc., which are being undertaken to evaluate the feasibility of creating a combined mining business with Silver Standard’s Pirquitas mine.

“So far the studies demonstrate that Chinchillas would make quite a simple open pit that could carry the life of Pirquitas into the next decade,” said Paul Benson, president and CEO of Silver Standard.

Prior to commencing the Phase IV drill program, the team completed mapping and trenching of several prospective areas to define the drill targets. Drilling has started in the Chinchillas South target area, which extends from the main Chinchillas deposit approximately 1.5 kilometres to the south. The area has been previously tested by only eight drill holes in the Phase III and Phase V drill campaigns. Results included multiple intercepts of silver, lead and zinc in most holes, such as: 69 g/t silver, 1.1 percent lead and 1.9 percent zinc over 15 meters in CGA-272W, including 165 g/t silver, 2.0 percent lead and 3.6 percent zinc over 3 meters; and 15 meters averaging 181 g/t silver, 1.1 percent lead in CGA-113.

“Results to date indicate that we could be looking at a much bigger mineralizing system than we originally envisioned. This next phase of drilling along with recently completed exploration program will test the true potential outside of the main Chinchillas area,” said Brian McEwen, vice president of exploration and development at Golden Arrow.

Field work will continue and may include additional geophysical surveys in areas of the property not previous covered.

Engineering, metallurgical, and environmental studies continue by Silver Standard as part of the business combination option pre-development activities.

About Golden Arrow
Golden Arrow Resources is a Vancouver-based exploration company focused on creating value by making precious and base metal discoveries and advancing them into exceptional deposits. The company is currently focused on its Chinchillas Silver Project located in the mining-friendly Province of Jujuy, Argentina. Exploration has progressed rapidly since the acquisition of the project in late 2011. The innovative transaction announced October 1, 2015, positions the company to maximize shareholder value by fast-tracking Chinchillas to production and becoming a 25 percent owner of the Pirquitas silver mine.

To stop by Golden Arrow’s website, CLICK HERE

Be in-the-know when you’re on-the-go!

FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.

Copyright © 2016 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.

For licensing permission, .(JavaScript must be enabled to view this email address)