Co. Builds Copper Gold Resource at Asset Near Large Miner
Source: Siddharth Rajeev
September 29, 2022 (Investorideas.com Newswire) This mining firm with a robust project portfolio is exploring its newly acquired asset in Chile's Atacama region, from which results are expected soon, noted a Fundamental Research Corp. report.
Golden Arrow Resources Corp. (GRG:TSX.V; GARWF:OTCQB; G6A:FSE) is a company to take note of, given it is delineating a gold-copper resource at one of its Chilean properties that is next to a large company and in a historically prolific mining district, reported Fundamental Research Corp. analyst Siddharth Rajeev in a July 28, 2022 research note. The Canadian explorer is also advancing two of its other projects in Argentina.
Rajeev described Golden Arrow's iron oxide copper-gold project in Chile, called San Pietro, and the company's near-term plan for it, currently being carried out.
San Pietro spans 18,448 hectares in Chile's Atacama region, between two of Capstone Copper's projects, also iron oxide copper-gold deposits: Mantoverde, an operating open-pit mine, and Santo Domingo, in an advanced development stage, Rajeev said.
"We believe proximity to well-known projects is a major advantage as it can open doors for future mergers and acquisitions events if Golden Arrow is able to delineate an attractive resource estimate," added Rajeev.
Favorable Location, Significant Historical Data
About 34,000-plus meters of historical drilling has been done at San Pietro, the results of which identified four targets (Rincones, Radiss Norte, Rodeo, and Colla) and included numerous high-grade intercepts. Golden Arrow has not yet released this data.
What is known, though, Rajeev relayed, is San Pietro hosts multiple iron oxide copper-gold targets with potential for cobalt, Rincones being the highest priority one.
Work in Progress on Three Projects
After Golden Arrow acquired San Pietro earlier this year, it embarked in June on a field program there, which includes re-logging of historic drill cores, surface sampling, mapping, and geophysical surveys, wrote Rajeev. The company's current objectives there are twofold: develop a maiden resource estimate for the Rincones target, expected by 2024, and evaluate and advance the three other targets.
Rajeev pointed out that Golden Arrow has eight other exploration-stage precious metals projects, one in Chile and the others in Argentina, all located in historical mining districts. One active project is Libanesa, where the company recently completed a 1,700-meter drill program and is awaiting the results. At another of its projects, Flecha de Oro, Golden Arrow is continuing exploration work. Both Libanesa and Flecha de Oro are in Argentina.
The company is well-financed, such that it should be able to continue its work plans into 2024 without having to raise capital, Rajeev pointed out.
Exploration Data Expected Soon
The next catalysts for Golden Arrow are exploration results from San Pietro and drill results from Libanesa.
"As San Pietro will be Golden Arrow's primary near-term focus, we believe results of the ongoing exploration program are crucial," Rajeev noted.
Golden Arrow is currently trading at about CA$0.13 per share.
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