Why Golden Arrow Resources is a Junior Exploration Stock to Watch

Golden Arrow Resources (TSX-V: GRG)(OTC: GARWF) — currently trading around C$0.18 per share — has commenced a 2,000-meter diamond drill program at multiple targets at its Tierra Dorada gold project in Paraguay.

The program is essentially being split into two segments; (1.) follow-up resource definition drilling at the high-grade Alvaro target and (2.) exploration drilling at the Itayuru target about 10 km to the southwest. 

The previous drill program at Alvaro produced some excellent near-surface, high-grade hits including:

  • 143.5 grams per tonne (g/t) gold over 0.5 meters within 6 meters averaging 14.5 g/t gold at 3 to 9 meters depth; and

  • 11.8 g/t gold over 3.16 meters within 7.75 meters averaging 6.1 g/t gold at 1.70 to 9.35 meters depth

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

“We are very pleased to have this second, fully-funded drill program underway, concurrent with our drilling at the Rosales Copper Project in Chile. Our reinterpreted geophysics has delineated the complex structural setting below the extensive cover at Alvaro so that we can now move to more advanced drill testing. And we prioritized Itayuru as the second drill target within the district-scale project after our surface program returned remarkable gold values of well over a gram-per-tonne in stream sediments.”

The program is starting with near-surface drilling at Alvaro and is expected to transition to deeper holes to test for possible extensions of high-grade mineralization at depth.

Drilling at Itayuru will focus on areas of high-grade anomalous gold values from the company’s recently completed stream sediment and soil sampling program.

Additionally, as noted above, Golden Arrow also has the drills turning at its Rosales copper project in the prolific Atacama region of Chile.

A two-stage approach is underway to first test the upper and lower conductors and confirm the geophysical interpretation from the company’s recently completed TEM (Transient Electromagnetic) geophysical survey. This first phase will comprise approximately 1,400 meters across four holes.

The second phase — slated for 1,600 meters — will immediately follow and is being designed to test the extent of the known anomalies as well as other targets across the large 8,500-plus-acre project.

With a highly adept group of mining professionals at the helm, Golden Arrow, with its ~C$20 million market cap, has emerged as one-to-watch in the junior base and precious metals exploration sector. 

As always, my colleague Gerardo Del Real of Junior Resource Monthly has been delivering all the key insights on the company’s impressive acquisition, exploration, and drilling strategy across a wide array of high-quality exploration projects in multiple jurisdictions.

Just like gold and copper, Gerardo has a lot to say about the uranium bull that’s now in play including how to position for even more near-term gains.

gerardo del real

Click here to see his brief video about a brand new uranium recommendation.

Also, check out our feature report on Golden Arrow Resources. special report cover

Yours in profits,

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Mike Fagan
Editor, Resource Stock Digest

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