Golden Arrow Finishes Phase 2 Drilling and Engages Consultants for Resource Estimate at San Pietro Project, Chile

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TSX Venture Exchange (TSX-V): GRGFrankfurt Stock Exchange (FSE): G6AOTCQB Venture Market (OTCQB): GARWF

VANCOUVER, BC, Dec. 10, 2024 /PRNewswire/ - Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF), ("Golden Arrow" or the "Company") is pleased to report the results from an additional four drill holes including another infill hole at the Rincones target with over 100 metres of significant copper, gold, cobalt and iron mineralization: 

  • 102.6 m averaging 0.22% Cu, 0.04 g/t Au, 100 g/t Co and 16.2% Fe starting at 67.4m depth in SP-DDH-31, including
    • 24.3 m averaging 0.48% Cu, 0.07 g/t Au, 214 g/t Co and 31% Fe

Brian McEwen, VP Exploration and Development for Golden Arrow, commented, "Our Phase 2 Drill Program has gone extremely well.  We were initially focused on infill drilling Rincones to support estimating resources but we discovered that the mineralization footprint is much larger in extent than expected and there are often much longer significant intervals downhole than expected, and we still have results from six holes to look forward to. On top of that, indications are that Rincones has the potential to grow even larger with the subsequent drill programs. All of that makes us very excited for our first resource estimate and NI 43-101 technical report that are underway and will be completed early next year."

Mr. McEwen continued, "In addition to the drill program the team has been busy with surface exploration work and has identified new prospects within our 20,000 hectares of concessions. Data is being processed and we expect to be able to announce exciting new drill targets next year that could be tested in the Phase 3 drill program, once we are issued the new permit to expand our drill platforms.  We are very pleased to be ending the year on such a positive note and look forward to continued success in 2025."

The holes reported herein are part of the Phase 2 diamond drilling campaign at the San Pietro Iron Oxide-Copper-Gold-Cobalt ("IOCG") Project in Chile ("San Pietro" or the "Project") announced on April 24, 2024.  The drilling is now complete, with twenty-seven holes drilled totaling approximately 9100m.  Assays from the final six holes are pending and expected early in the new year. 

The Company has engaged independent consultants and Qualified Persons to complete its first Mineral Resource Estimate and the supporting NI 43-101 Technical Report for the Project. Resource modelling and supporting work is underway with completion targeted early in 2025, pending the final assays from Phase 2.

Table 1. Summary of Intervals, Phase 2 Drilling[Cu Grade >0.20% or Co Grade >200 g/t or Au Grade >0.2 g/t or Fe Grade >30%]

Hole

From

(m)

To

(m)

Interval (m)

Cu

(%)

Au(g/t)

Co

(g/t)

Fe

(%)

Rincones Target

SP-DDH-31

67.40

170.00

102.60

0.22

0.04

100

16.2

includes 

67.40

72.40

5.00

0.50

0.07

108

14.8

and 

92.00

96.00

4.00

0.56

0.12

169

17.6

and 

114.55

120.30

5.75

0.51

0.08

123

15.3

and 

136.00

160.30

24.30

0.48

0.07

214

31.0

including

146.85

158.00

11.15

0.64

0.10

383

44.1

291.50

299.00

7.50

0.26

0.08

103

14.9

SP-DDH-32

6.00

18.20

12.20

0.31

0.05

71

13.5

47.00

49.00

2.00

0.34

0.07

80

21.3

69.40

86.00

16.60

0.24

0.04

78

13.9

169.00

182.80

13.80

0.15

0.06

288

17.3

SP-DDH-33

302.00

305.00

3.00

0.25

0.03

25

13.1

311.00

313.00

2.00

0.32

0.04

49

9.8

323.30

329.00

5.70

0.29

0.05

118

19.4

378.73

381.38

2.65

2.13

0.14

127

33.0

Colla Target

SP-DDH-34

29.00

40.85

11.85

0.03

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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