Below is a link to yesterday’s Q2 webcast from Silver Standard (TSX: SSO)(NASDAQ: SSRI).
Silver Standard states it is moving forward with permitting and the environmental impact assessment (EIA) needed to take Golden's Arrow's Chinchillas into production.
A 6000 meter condemnation drill program has been completed, which means they want to make sure the place where they stack rock doesn't have any silver under it.
It would certainly seem like Silver Standard is taking Chinchillas into production. Will they move forward with the JV with Golden Arrow (TSX-V: GRG)(OTC: GARWF), which would mean Golden Arrow gets 25% of the earnings that Silver Standard's Pirquitas mine has generated since October 2015... or will Silver Standard make a move to buy Golden Arrow outright?
Who knows. But what we do know is that Silver Standard's Pirquitas mine is running out of ore and it would seem to make sense for them to mine Chinchillas to supply it rather than shut down the entire operation.
Here are the relevant tidbits from the webcast, which you watch and listen to by clicking this link:
"At Chinchillas work continued with the focus moving to engineering studies, permit applications, and community engagement. We expect the EIA to be submitted in late Q3."
In Argentina we have an option agreement with Golden Arrow Resources to advance their Chinchillas project, located 30km from Pirquitas. Here we funded $1.5 million in the second quarter on condemnation drilling, geo-technical, metalurgical, hydrolurgical, and environmental studies, along with continuing community engagement programs.
During the period Golden Arrow announced new resources based on the exploration based on the exploration and infill programs funded by Silver Standard. These resources support our continued engineering work and funding a study for a new mine by year's end.
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