Golden Arrow drills 283 metres averaging 0.23% copper at San Pietro Project, Chile

Golden Arrow Resources Corp. [TSXV: GRG; FSE: G6A; OTCQB: GARWF] reported the latest results from the San Pietro Project in Chile, where drilling of the southern extension of the Rincones target returned the best copper interval to date: 283 metres averaging 0.23% Cu, 0.04 g/t Au, 101 g/t Co and 15.5% Fe from 83 metres depth in SP-DDH-38.

This includes two intervals with notably higher grades of copper (75 metres averaging 0.33% Cu and 11.55 metres averaging 0.51% Cu) and a 9.35-metre interval averaging 0.74% Cu, 0.43 g/t Au, 254 g/t Co and 38.6% Fe.

SP-DDH-29 was the first hole to test for a southern extension of the Rincones target. It stepped out nearly 400 metres from previously drill-defined mineralization and intersected 310.85 m averaging 0.19% Cu, 0.06 g/t Au, 127 g/t Co and 12.2% Fe starting at 186.4m depth, as reported October 31, 2024.

Excited by these results and the potential to continue to expand Rincones to the south towards the Colla target, the team designated the final three holes of the Phase 2 drill program to further test the area and provide data that could potentially be included in the upcoming Mineral Resource Estimate (MRE).  This new hole SP-DDH-38 was collared approximately 250 metres south of the main Rincones target area, in the untested area centered 420 metres northwest of SP-DDH-29. New drill hole SP-DDH-39 was drilled another 250 metres south from SP-DDH-38, and along the NW-SE trend of mineralization intersected in hole 29. SP-DDH-40 was drilled to infill between SP-DDH-38 and the main Rincones mineralization.  Final assays for holes -39 and -40 are the last results pending from the program.

Brian McEwen, VP Exploration and Development for Golden Arrow, commented, “Hole 38 is helping define the so far sparsely-tested and yet significant southern extension that adds to the central area of thick continuous mineralization at Rincones.  Phase 2 has now drilled nine holes with intervals of more than 100 metres of significant copper, including the two that are over 280 metres, and four that grade over 0.4% copper, and we still have two high-potential holes left to report.  The Company remains on-track to complete our first MRE for the project in the coming weeks and I strongly believe it will just be scratching the surface of what this project has to offer.”

Two additional holes reported here returned intervals with over 100 metres of mineralization. SP-DDH-37 was an infill hole in the centre of Rincones, and returned 130 metres averaging 0.23% Cu, 0.05 g/t Au, 69 g/t Co and 13.4% Fe from 250 metres depth, including 15.30 metres averaging 0.96% Cu, 0.31 g/t Au, 179 g/t Co and 28.5% Fe.

Mineralization at the western side of the target was also expanded, where hole SP-DDH-35 stepped out 135 metres and intercepted 102 metres averaging 0.25% Cu, 0.04 g/t Au, 185 g/t Co and 14.7% Fe from 186 metres depth in hole SP-DDH-35, including 10.30 metres averaging 0.51% Cu, 0.05 g/t Au,137 g/t Co and 13.4% Fe.

The new holes reported in Table 1 are part of the now-complete Phase 2 diamond drilling campaign at the San Pietro Iron Oxide-Copper-Gold-Cobalt (IOCG) Project in Chile announced April 24, 2024.  Final assays from the last two holes are pending.

The Company focused this Phase 2 drill program mainly on the Rincones advanced exploration target with the goal of completing an initial Mineral Resource Estimate. In addition, 2 holes (SP-DDH-25 and SP-DDH-34) with a total of 607 metres were drilled at the nearby Colla target.

The San Pietro Project covers approximately 20,000 hectares, 100 km north of Copiapo.  Situated between and adjacent to Capstone Copper’s Manto Verde Mine property and Santo Domingo Project, San Pietro is in the centre of a potential new copper-iron-cobalt district within an active, well-developed mining region that is home to all the major iron oxide-copper-gold (IOCG) deposits in Chile.

Golden Arrow is actively exploring its flagship property, the advanced San Pietro iron oxide-copper-gold-cobalt project in Chile, and a portfolio that includes nearly 125,000 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.