Golden Arrow starts drilling at Tierra Dorada, Paraguay

Golden Arrow Resources Corp. [GRG-TSXV; GARWF-OTCQB; GAC-FSE] reported drilling has commenced for the previously announced 500-metre diamond drilling program at its 100%-optioned Tierra Dorada gold project in southeastern Paraguay. The program will focus on the Alvaro target area, where multiple vein showings have returned high-grade gold from surface and trench sampling. Highlights of previously announced results in the area include:

Boulder and vein samples of 47.4 g/t gold and 13.7 g/t gold; 89.5 g/t gold and 61 g/t silver over 0.93 metres, including 143.40 g/t gold and 95.8 g/t silver over 0.58 metre, in trench 1 at showing 1; and 11.14 g/t gold and 6.36 g/t gold from a 0.78-metre wide vein at trench T-6 in showing 4.

With the current prospecting permit for the Tierra Dorado project, the company can drill holes up to 20 metres in depth. This is sufficient for testing near-surface prospects to delineate targets for deep drilling in greater detail than is possible with trenching.

Golden Arrow has selected the Paraguayan company MasterGold SA for drilling services, using a diamond drill that will recover HQ-diameter core. The program will include a nominal 500 metres of drilling, which is expected to test at least eight of the known quartz vein showings, including the hangingwall and footwall rocks, which were difficult to sample with trenching.

The drill program is estimated to take approximately one month to complete and may be expanded depending on results.

Regional mapping, stream and rock sampling continue in both the north and south property blocks of the project. An induced polarization (IP) survey is also planned to aid in delineating targets under cover. The survey will start once the Chile-based geophysical team is permitted entry to Paraguay, which is currently restricted due to COVID-19 regulations.

The Tierra Dorado gold project covers an area of Precambrian shield in southern Paraguay prospective for orogenic gold deposits. The project includes two property blocks totalling 64,000 hectares: the Paraguari property to the north and the Misiones property to the south.

Golden Arrow mainly focused its activities to date at one of four previously-identified target areas known as Alvaro in the southern property block, but also has a team working on geological reconnaissance and stream sediment sampling in both the northern and southern block concessions to evaluate as much of the property as possible for additional targets.