Golden Arrow Resources Corp. [GRG-TSXV; GARWF-OTCQB; G6A-FSE] has begun the first exploration program at its new 100%-held San Pietro copper-gold-cobalt project in Chile. 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, vice-president of exploration and development for Golden Arrow, commented: â€œWe 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.â€
Golden Arrow acquired San Pietro in March, 2022 and includes 18,448 hectares of exploration and exploitation concessions in the Atacama region of Chile, approximately 100 km 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% copper, 0.12 g/t gold and 335 parts per million cobalt 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.
Golden Arrow holds 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.