Exploration Update: Golden Arrow’s Pescado Project
Golden Arrow Resources Corp. (TSX-V: GRG, FSE: GAC, OTCQB: GARWF), has begun an $1-million US exploration program at its 100-percent owned Pescado Gold Project in San Juan province, Argentina. The province of San Juan hosts several world-class mines and deposits, including the Gualcamayo gold mine which is situated approximately 10 kilometres to the north of Pescado. Golden Arrow’s management were involved in the discovery of the Gualcamayo gold deposit. Golden Arrow hopes to repeat past success in a region where they have a continuity of knowledge.
The 19,784-hectare Pescado Project which comprises 11 mineral claims, is 100-percent owned by Golden Arrow. Pescado is situated in the Pre-Cordillera region of the Andes, at elevations ranging from 1500 metres to 2500 metres above sea level and is accessible year round for exploration. The project has two principal gold targets, Yanso and Pescado Highlights from rock chip sampling include: 1 m of 17.59 g/t Au; 1 m of 10.75 g/t Au and 1 m of 6.68 g/t Au ; 16 m of 0.602 g/t gold, including 2 m of 1.27 g/t Au; 2 m of 3.46 g/t Au and 2 m of 3.15 g/t Au ; 2 m of 0.13 g/t Au, 10.2 g/t Ag, >1% Cu, 3,535 ppm Pb and 2,719 ppm Zn.
The exploration program will include additional geophysics and surface work to refine drill targets, with up to 1,800 metres of drilling budgeted. Work permits have been granted by the provincial mining authorities, and the technical team is now commencing exploration at the Yanso target area.
“The Pescado Project has the attributes needed for making a significant discovery, including proximity to existing deposits, size, accessibility, and known mineralization in a positive geologic setting,” commented Brian McEwen, Golden Arrow’s Vice President of Exploration and Development. “We look forward to advancing our knowledge of the property and bringing it to a drilling stage.”
In an email exchange with the company, McEwen outlined the current work underway at Pescado. “At Yanso we have been working for the past 3 weeks opening up roads and getting access on to the heart of the property. This week a larger bulldozer or backhoe arrived at the project to continue to open up roads and dig trenches. The trenches will be mapped and sampled. Based on the results of this work we will follow up with our drill program. We anticipate drilling will commence in February..”
The Pescado project is just one project in Golden Arrow’s exploration portfolio. Golden Arrow's exploration assets will be spun into subsidiary New Golden Explorations Inc which will seek a listing in the near future. The exploration properties include approximately 215,000 hectares in four Argentinian provinces. On another property, the company’s exploration team are now at Antofalla. There is a backhoe there for trenching the company hopes to be drilling at Antofalla in Q1 next year. Golden Arrow has plenty of potential for investors as it seeks to grow value through exploration.
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