Multiple Copper-Gold Projects in Argentina, Chile & Paraguay

by Mike Fagan

Mike Fagan


Golden Arrow Resources (TSX-V: GRG)(OTC: GARWF) — currently trading below C$0.20 per share — has entered into an option agreement on its Caballos copper dominant project in Argentina whereby Hanaq Argentina S.A. can earn-in 70% by spending US$4 million on exploration over 6 years.

                                                   golden arrow map

Golden Arrow's Caballos Copper-Gold Project is located at the intersection of the Maricunga
Copper-Gold Belt and the El Indio Gold-Silver belt with multiple major deposits within 40km.


With copper trading firmly above US$4 per pound, Golden Arrow is refocusing its efforts on advancing its copper dominant projects, which include:

  • Caballos (partnered with Hanaq): Caballos Copper-Gold Project covers over 29,600 acres (~120 sq km) along the Chilean border in the Andean Cordillera of La Rioja Province, Argentina.  The property is in a prospective porphyry copper-gold and epithermal gold-silver district at the intersection between the south end of the Maricunga Copper-Gold Belt with the northern extent of the El Indio Gold-Silver Belt.
     
  • Rosales (100%-owned; phase-one exploration underway): Rosales Copper Project is located less than 90 kilometres from the mining center of Copiapo, Chile. The region is prolific for mining with multiple copper and gold mining projects nearby including the Margarita Mine — an underground copper mining operation adjacent to the Rosales properties.
     
  • Mogote (100%-owned; early-stage exploration; Argentina): Mogote Copper-Gold Project is adjacent to the Filo del Sol gold project property owned by Filo Mining and has seen limited drilling (~12,000 meters) on its multiple porphyry and epithermal targets.
     
  • Don Bosco (100%-owned; early-stage exploration; Argentina): Don Bosco Copper-Gold-Silver Project has several copper, gold, and silver targets and is in the same sedimentary belt as the Gualcamayo gold mine owned by Mineros SA. Positive initial results include 10% copper, 2 g/t gold & 114 ppm silver in 2.4 meters composite chip sample and 25% copper in a 1 meter chip sample.
     

Golden Arrow CEO, Joseph Grosso, commented via press release:
 

“Caballos is one of several copper-focused projects within our more than 180,000-hectare portfolio in Argentina that has demonstrated potential from preliminary geological work. With the recent strength in the copper market, we have redoubled our efforts to secure qualified and committed partners such as Hanaq to advance these exploration projects. This allows us to build value at those properties while freeing our team to concentrate on our core-focus precious metal projects in Argentina and Paraguay and on copper assets that we believe we can advance faster and more efficiently, such as our Rosales copper project in Chile.”
 

Additionally, in southern Paraguay, Golden Arrow is advancing its Tierra Dorada Gold Project by way of the drill with recent highlight intercepts of:

  • 143 grams per tonne (g/t) gold over 0.5 meters within 6 meters averaging 14.5 g/t gold at 3-9 meters depth
     
  • 11.8 g/t gold over 3 meters within 7.7 meters averaging 6 g/t gold at 2-9 meters depth

Golden Arrow VP Exploration & Development, Brian McEwen, commented via press release:  
 

“The extensive soil and vegetation cover at Alvaro makes exploration challenging, so this shallow drill program was an excellent option to give us a better look at the subsurface than we were able to accomplish with prospecting or trenching.  We are pleased with the results, which in some cases have confirmed continuity of gold mineralization and veins below surface and in others have shown broader veins than expected with higher grades than the surface sampling.”


Golden Arrow is planning a 2,000 meter drill program to follow up on those targets and — with C$26 million in cash and equivalents as of September 30, 2020 — is well positioned to advance its impressive South American property portfolio via partner funded projects, such as Caballos, as well as self funded exploration and drilling such as Tierra Dorada.

Click here to access our most recent report on Golden Arrow Resources.

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest
 


Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.