Golden Arrow drills 0.44% copper over 109.1 metres at San Pietro, Chile

Golden Arrow Resources Corp. [TSXV-GRG; OTCQB-GARWF; FSE-G6A] reported significant new results from drilling at its San Pietro project in Chile, including long intercepts of iron oxide-copper-gold (IOCG) plus cobalt mineralization in two step-out drill holes in the central Rincones target, highlighted by 109.10 metres at 0.44%, 0.06 g/t gold, 130 g/t cobalt and 15.0% iron starting at 253.9 metres depth in drill hole SP-DDH-18, including 12 metres at 1.16% Cu, 0.09 g/t Au, 202 g/t Co and 21.6 per cent Fe.

The hole was collared in a previously untested area approximately 150 metres east of SP-DDH-15, reported on July 11, 2024; 101.38 metres at 0.43% Cu, 0.09 g/t Au, 177 g/t Co and 30.1% Fe starting at 35.6 metres depth in drill hole SP-DDH-19. Modelling indicates continuity with mineralization in SP-DDH-18.

One additional hole in the south Rincones target returned multiple mineralized intervals, including 19.23 metres at 0.45% Cu, 0.05 g/t Au, 110 g/t Co and 51.3% Fe in a magnetite manto starting at 202.77 m depth in drill hole SP-DDH-20.

Brian McEwen, vice-president, exploration and development, commented: “Once again, our step-outs at Rincones are showing us that this target has plenty of growth potential. Both holes 18 and 19 hit really exciting intervals and this area is still open for expansion to the east and north, which is very promising as we move closer to our first resource estimate for the project. Last week, we were pleased to see that Capstone Copper announced an updated feasibility study for their Santo Domingo project, located adjacent to our San Pietro property. This gives us great information on exploration and current development conditions for a local IOCG deposit, which will help us with our resource estimation work and our ongoing exploration. We are excited to continue to advance this project at the heart of what is shaping up to be an important IOCG district.”

This work was part of the continuing 10,000-metre diamond drilling campaign at the San Pietro iron-copper-gold-cobalt project in Chile announced on April 24, 2024 . Drill holes SP-DDH-18, SP-DDH-19 and SP-DDH-20 are part of the initial set of eight holes drilled to complete a nominal grid over the advanced Rincones target and verify the requisite spacing for completing the first mineral resource estimate for the project. One additional hole reported herein (SP-DDH-17) was drilled at the adjacent Colla target and is described below. Drilling of the remaining holes from the preliminary grid have now been completed and samples submitted to the laboratory for analysis. The company has moved on to additional stepout and infill drill holes at the Rincones target, as well as completing one additional hole at Colla.

The San Pietro project hosts multiple targets with strong IOCG plus cobalt mineralization. In 2023, the company completed a phase 1 drill program of approximately 4,000 metres of diamond drilling in 13 holes to add to the database of approximately 34,000 metres of historic drilling at San Pietro. Strongly mineralized intervals were intercepted at all targets tested..

The company is concentrating this phase 2 drill program mainly on the Rincones advanced exploration target with the goal of completing an initial mineral resource estimate. In addition, approximately 3,000 metres of drilling has been earmarked to test for new mineralization at other high-potential target areas throughout the project.