TSX Venture Exchange (TSX-V): GRG
Frankfurt Stock Exchange (FSE): G6A
OTCQB Venture Market (OTCQB): GARWF
VANCOUVER, BC, June 16,
2022 /CNW/ - Golden Arrow Resources
Corporation (TSX-V: GRG) (FSE: G6A) (OTCQB: GARWF), ("Golden
Arrow" or the "Company") is pleased to report that it
has commenced the first exploration program at its new 100% held
San Pietro Copper-Gold-Cobalt project in Chile ("San Pietro" or the
"Project"). Golden
Arrow has retained two Chilean project geologists with
extensive experience in geologic systems like those in and around
San Pietro. The program has commenced with detailed surface
mapping and sampling and is expected to include trenching and an
updated geophysical program in the next six months. At the
same time, the crew is engaged in re-logging much of the 34,000
metres of historic drill core. This work will modernize and
build the database for the main prospects to refine the targets for
a subsequent resource delineation drill program.
Brian McEwen, VP Exploration and
Development for Golden Arrow,
commented, "We are pleased to have boots on the ground so
quickly at this new and exciting project, particularly when they
are occupied by such well-qualified individuals. Our new
geologists are supported by local field technicians and project
management staff to ensure smooth operations as we ramp up our
activities at San Pietro. We anticipate a busy and productive
second half of the year as we refine targets for drilling and
building resources."
About the San Pietro
Project
Golden Arrow acquired San Pietro
in March 2022 (see News Release:
https://bit.ly/39r3p8N). The San Pietro Project includes 18,448
hectares of exploration and exploitation concessions in the Atacama
region of Chile, approximately 100
kilometres north of Copiapo in an active mining district that is
home to all the major Iron-oxide copper-gold ("IOCG")
deposits in Chile. There is
excellent mining infrastructure in the area, and the property is
situated between and adjacent to Capstone Copper's Santo Domingo
IOCG mine development project and Mantoverde IOCG mine property.
[Proximity to other mining projects in the area does not provide
any assurances with respect to the prospects at the San Pietro
Project.]
Prior to 2013, the Project saw approximately US$15 million in historic exploration work,
including over 34,000 metres of drilling, over 1,000 surface
samples and multiple geophysical surveys. The Rincones target was
the primary focus of the historic work, with multiple drill holes
returning significant copper, gold and cobalt assays, including: 28
metres averaging 1.14% Cu, 0.12g/t Au, and 335ppm Co, in
RA-12-DH-003.
Golden Arrow's due diligence
review confirmed the considerable potential of the known targets
and identified areas where new interpretations and additional work
are expected to improve the prospects for resources.
Qualified Persons
The technical portions of this news release have been reviewed
and approved by Brian McEwen,
P.Geol., VP Exploration and Development to the Company and a
Qualified Person as defined in National Instrument
43-101.
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 the advanced San Pietro Cu-Au-Co project in Chile, and a portfolio that includes more than
180,000 hectares of prospective 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
www.goldenarrowresources.com
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