One of Biggest Silver Discoveries in 2014
Golden Arrow's Chinchillas Project, Argentina One of Biggest Silver Discoveries in 2014; Ongoing 16,000m Drill Program Results include 207 g/t Ag over 14m
V.GRG
Vancouver, BC / TheNewswire / January 19, 2015 / Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), "Golden Arrow" or the "Company" ) is pleased to announce results from ten additional holes of its Phase IV drill program at the Chinchillas silver, lead, zinc deposit in Jujuy Province, Argentina. As with the first set of results from this program, released January 6th 2015, data from these latest holes indicate that the resource will continue to expand. In particular, hole CGA-139 steps out 48 metres, extending the Mantos Basement zone mineralization to the west, while hole CGA-146 extends a zone of mineralization on the North Slope by 40 metres, also to the west. Hole CGA-143 is an infill hole that confirms the continuity of a deep body of mineralization between several previously drilled holes.
Highlight intercepts from these drill holes include:
-207 g/t silver and 1.9% lead (268 g/t silver equivalent "AgEq"
over 14 metres in CGA-139, including:
-493 g/t silver and 4.1% lead (625 g/t AgEq) over 4 metres
-109 g/t silver, 1% lead and 0.9% zinc over 20 metres in CGA-146, including:
-299 g/t silver, 1.8% lead and 1.5% zinc over 4 metres
-127 g/t silver, 0.5% lead and 1.7% zinc over 25 metres in CGA-143, including:
-327 g/t silver and 0.7% lead over 3 metres
"The Company is extremely pleased with the continued success of this drilling campaign. Additional multiple intersections of good grade and thickness that are continuous with known mineralization demonstrate the potential to further expand the resource laterally and at depth," commented Golden Arrow VP Exploration and Development, Brian McEwen.
The planned program includes up to 16,000 metres of diamond drilling designed to contribute to the eventual feasibility study. The program goals include: testing the limits of the deposit in all directions, including at depth; in-filling drill hole spacing to facilitate the upgrade of the resource categories to Measured and Indicated, and; drilling for infrastructure and geotechnical studies.
Table 1 below includes the results of 1932 metres of drilling from ten holes. A map of the drill hole locations will be posted to the Chinchillas map page on the Golden Arrow website at: http://www.goldenarrowresources.com/i/pdf/02-...-3-MAP.pdf
Drilling Details
Mineralized intercepts are reported in Table 1 for ten drill holes that targeted several zones throughout the deposit. The western portion of the deposit includes the upper Silver Mantos zone and lower Mantos Basement zone. The eastern portion of the deposit includes the upper Socavon del Diablo ("Socavon" zone, with the lower Socavon Basement zone. The zones are all part of a volcanic vent system in which explosive volcanic activity produced diatreme breccias in tuffs in the central part of the vent (Silver Mantos and Socavon) and brecciated the underlying Ordovician basement schists (Mantos Basement and Socavon Basement). The zones are described in detail in the recent NI 43-101 Technical Report, filed on SEDAR on December 3rd, 2014. Drill core from these holes was subject to visual inspection and qualitative analysis using a hand-held X-ray fluorescence (XRF) spectrometer for silver, lead and zinc. Intervals of the core deemed prospective for mineralization were prioritized and sent to the laboratory for analysis, as indicated below. The remainder of the core will be analyzed in subsequent batches.
Holes CGA-137, 138, 140, 141 and 142 stepped out from the Silver Mantos side of the deposit starting at the north and running along the western edge, ending with CGA-142 to the southwest. These holes targeted expansion of the Mantos Basement mineralization in these directions. Intercepts of the typical brecciation in this area were limited to mainly short intercepts and/or low grades. It appears that the potential to further expand resources in these areas is limited. Note that hole CGA-137 was only assayed in the interval from 33 to 74 metres, and hole 142 has not been assayed.
Hole CGA-139 is situated on the central western edge of the Silver Mantos, between CGA-138 and CGA-140, and stepping out approximately 48 metres to the west of Phase III hole CGA-122. CGA-139 intersected the continuation of the silver and lead mineralized breccia in the older hole, returning several high-grade intercepts, including 14 metres grading 207g/t silver and 1.9% lead.
Hole CGA-143 is an infill hole in the Silver Mantos side of the deposit and was planned to test the continuity of Mantos-style mineralization at depth which was previously detected by the surrounding holes CGA-126, CGA-95 and CGA-44. In addition to intersecting high-grade mineralization near surface (15 to 40m) results from CGA-143 confirmed the presence of a thick Mantos-style mineralized body at depth between 171 and 234m. This deep mantos mineralization will be tested with additional holes to confirm the size of the body, but these results are expected to add to the resource. Note that intervals from 0 to 14, 62 to 155 and 290 to 301.5 metres have not yet been assayed.
Hole CGA-144 is an exploration hole drilled on the southern extent of the Socavon del Diablo zone, with the hypothesis of connecting the Socavon to the deep zinc mineralization of CGA-110, which is situated on the opposite side of the dacite dome that bounds the Socavon zone to the south. However, CGA-144 intercepted 190 meters of dacite and ended in dacite, unable to reach the mineralized basement breccias.
Hole CGA-145 is an exploration hole, drilled below a small historic adit where mineralized basement breccias were mined. The hole confirmed mineralization close to surface, and additional drilling will be done in this area to define the scope of mineralization.
Hole CGA-146 is located on the North Slope where previous drill holes CGA-75 and CGA-107 detected mineralized intervals in basement brecciated rocks just below the contact with the tuffs. Results from CGA-146 show the continuity of this mineralization 40 m to the west of CGA-107, including 20 metres grading 109 g/t silver, 1% lead and 0.9% zinc, (170 g/t silver equivalent). Further drilling will be done to test the expansion potential of this mineralization to the west. The hole was not assayed from surface to 110 metres.
Table 1. Drill Intercepts >20g/t for Ag and >0.5% for Pb and Zn
The reported intervals are believed to approximate true width and will be confirmed with geologic modeling. Silver equivalent grades (Ag Eq) were calculated using US$22/oz for silver, US$1.00/lb for lead and US$1.00/lb for zinc.
Methodology and QA/QC
Analyses of the drill core were performed by Alex Stewart Assayers, in Mendoza, Argentina, an internationally recognized assay service provider. All samples were analyzed by method ICP-MA-39 that consists of a four acid digestion followed by ICP-OES detection. Silver results >200 Ag g/t were re-analyzed by fire assay with a gravimetric finish on 50-gram samples. Lead and zinc results >10,000 ppm were re-analyzed by a 3 acids and ICP-OES detection. The Company follows industry standard procedures for the work carried out on the Chinchillas Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate and standard samples were inserted into the drill core sample sequence sent to the laboratory for analysis. Golden Arrow detected no significant QA/QC issues during review of the data.
Qualified Persons
The contents of the news release have been reviewed and approved by Brian McEwen, P.Geol., VP Exploration and Development to the Company, and a Qualified Person as defined in National Instrument 43-101.
About Golden Arrow:
Golden Arrow is a Vancouver-based explorer focused on identifying, acquiring and advancing precious and base metal projects in Argentina with the goal of achieving a world class discovery. The main focus is on advancing the flagship Chinchillas Silver Project located in Jujuy, Argentina. Golden Arrow is a member of Grosso Group, a management company specialized in resource exploration, and working in Argentina where it is highly regarded and trusted since 1993.
ON BEHALF OF THE BOARD
"Joseph Grosso"
_______________________________
Mr. Joseph Grosso
Executive Chairman, President, CEO and Director
For further information please contact:
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email: info@goldenarrowresources.com
Golden Arrow's Chinchillas Project, Argentina One of Biggest Silver Discoveries in 2014; Ongoing 16,000m Drill Program Results include 207 g/t Ag over 14m
V.GRG
Vancouver, BC / TheNewswire / January 19, 2015 / Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), "Golden Arrow" or the "Company" ) is pleased to announce results from ten additional holes of its Phase IV drill program at the Chinchillas silver, lead, zinc deposit in Jujuy Province, Argentina. As with the first set of results from this program, released January 6th 2015, data from these latest holes indicate that the resource will continue to expand. In particular, hole CGA-139 steps out 48 metres, extending the Mantos Basement zone mineralization to the west, while hole CGA-146 extends a zone of mineralization on the North Slope by 40 metres, also to the west. Hole CGA-143 is an infill hole that confirms the continuity of a deep body of mineralization between several previously drilled holes.
Highlight intercepts from these drill holes include:
-207 g/t silver and 1.9% lead (268 g/t silver equivalent "AgEq"
over 14 metres in CGA-139, including: -493 g/t silver and 4.1% lead (625 g/t AgEq) over 4 metres
-109 g/t silver, 1% lead and 0.9% zinc over 20 metres in CGA-146, including:
-299 g/t silver, 1.8% lead and 1.5% zinc over 4 metres
-127 g/t silver, 0.5% lead and 1.7% zinc over 25 metres in CGA-143, including:
-327 g/t silver and 0.7% lead over 3 metres
"The Company is extremely pleased with the continued success of this drilling campaign. Additional multiple intersections of good grade and thickness that are continuous with known mineralization demonstrate the potential to further expand the resource laterally and at depth," commented Golden Arrow VP Exploration and Development, Brian McEwen.
The planned program includes up to 16,000 metres of diamond drilling designed to contribute to the eventual feasibility study. The program goals include: testing the limits of the deposit in all directions, including at depth; in-filling drill hole spacing to facilitate the upgrade of the resource categories to Measured and Indicated, and; drilling for infrastructure and geotechnical studies.
Table 1 below includes the results of 1932 metres of drilling from ten holes. A map of the drill hole locations will be posted to the Chinchillas map page on the Golden Arrow website at: http://www.goldenarrowresources.com/i/pdf/02-...-3-MAP.pdf
Drilling Details
Mineralized intercepts are reported in Table 1 for ten drill holes that targeted several zones throughout the deposit. The western portion of the deposit includes the upper Silver Mantos zone and lower Mantos Basement zone. The eastern portion of the deposit includes the upper Socavon del Diablo ("Socavon"
zone, with the lower Socavon Basement zone. The zones are all part of a volcanic vent system in which explosive volcanic activity produced diatreme breccias in tuffs in the central part of the vent (Silver Mantos and Socavon) and brecciated the underlying Ordovician basement schists (Mantos Basement and Socavon Basement). The zones are described in detail in the recent NI 43-101 Technical Report, filed on SEDAR on December 3rd, 2014. Drill core from these holes was subject to visual inspection and qualitative analysis using a hand-held X-ray fluorescence (XRF) spectrometer for silver, lead and zinc. Intervals of the core deemed prospective for mineralization were prioritized and sent to the laboratory for analysis, as indicated below. The remainder of the core will be analyzed in subsequent batches. Holes CGA-137, 138, 140, 141 and 142 stepped out from the Silver Mantos side of the deposit starting at the north and running along the western edge, ending with CGA-142 to the southwest. These holes targeted expansion of the Mantos Basement mineralization in these directions. Intercepts of the typical brecciation in this area were limited to mainly short intercepts and/or low grades. It appears that the potential to further expand resources in these areas is limited. Note that hole CGA-137 was only assayed in the interval from 33 to 74 metres, and hole 142 has not been assayed.
Hole CGA-139 is situated on the central western edge of the Silver Mantos, between CGA-138 and CGA-140, and stepping out approximately 48 metres to the west of Phase III hole CGA-122. CGA-139 intersected the continuation of the silver and lead mineralized breccia in the older hole, returning several high-grade intercepts, including 14 metres grading 207g/t silver and 1.9% lead.
Hole CGA-143 is an infill hole in the Silver Mantos side of the deposit and was planned to test the continuity of Mantos-style mineralization at depth which was previously detected by the surrounding holes CGA-126, CGA-95 and CGA-44. In addition to intersecting high-grade mineralization near surface (15 to 40m) results from CGA-143 confirmed the presence of a thick Mantos-style mineralized body at depth between 171 and 234m. This deep mantos mineralization will be tested with additional holes to confirm the size of the body, but these results are expected to add to the resource. Note that intervals from 0 to 14, 62 to 155 and 290 to 301.5 metres have not yet been assayed.
Hole CGA-144 is an exploration hole drilled on the southern extent of the Socavon del Diablo zone, with the hypothesis of connecting the Socavon to the deep zinc mineralization of CGA-110, which is situated on the opposite side of the dacite dome that bounds the Socavon zone to the south. However, CGA-144 intercepted 190 meters of dacite and ended in dacite, unable to reach the mineralized basement breccias.
Hole CGA-145 is an exploration hole, drilled below a small historic adit where mineralized basement breccias were mined. The hole confirmed mineralization close to surface, and additional drilling will be done in this area to define the scope of mineralization.
Hole CGA-146 is located on the North Slope where previous drill holes CGA-75 and CGA-107 detected mineralized intervals in basement brecciated rocks just below the contact with the tuffs. Results from CGA-146 show the continuity of this mineralization 40 m to the west of CGA-107, including 20 metres grading 109 g/t silver, 1% lead and 0.9% zinc, (170 g/t silver equivalent). Further drilling will be done to test the expansion potential of this mineralization to the west. The hole was not assayed from surface to 110 metres.
Table 1. Drill Intercepts >20g/t for Ag and >0.5% for Pb and Zn
The reported intervals are believed to approximate true width and will be confirmed with geologic modeling. Silver equivalent grades (Ag Eq) were calculated using US$22/oz for silver, US$1.00/lb for lead and US$1.00/lb for zinc.
Methodology and QA/QC
Analyses of the drill core were performed by Alex Stewart Assayers, in Mendoza, Argentina, an internationally recognized assay service provider. All samples were analyzed by method ICP-MA-39 that consists of a four acid digestion followed by ICP-OES detection. Silver results >200 Ag g/t were re-analyzed by fire assay with a gravimetric finish on 50-gram samples. Lead and zinc results >10,000 ppm were re-analyzed by a 3 acids and ICP-OES detection. The Company follows industry standard procedures for the work carried out on the Chinchillas Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate and standard samples were inserted into the drill core sample sequence sent to the laboratory for analysis. Golden Arrow detected no significant QA/QC issues during review of the data.
Qualified Persons
The contents of the news release have been reviewed and approved by Brian McEwen, P.Geol., VP Exploration and Development to the Company, and a Qualified Person as defined in National Instrument 43-101.
About Golden Arrow:
Golden Arrow is a Vancouver-based explorer focused on identifying, acquiring and advancing precious and base metal projects in Argentina with the goal of achieving a world class discovery. The main focus is on advancing the flagship Chinchillas Silver Project located in Jujuy, Argentina. Golden Arrow is a member of Grosso Group, a management company specialized in resource exploration, and working in Argentina where it is highly regarded and trusted since 1993.
ON BEHALF OF THE BOARD
"Joseph Grosso"
_______________________________
Mr. Joseph Grosso
Executive Chairman, President, CEO and Director
For further information please contact:
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email: info@goldenarrowresources.com
