Golden Arrow hits the gold and copper mark in Argentina
Founded in 1993 and recognized as a leading pioneer of mineral exploration in South America, The Grosso Group operates with the objective of creating investor value through the growth of their publicly listed member companies including, Argentina Lithium and Energy Corp. (TSXV: LIT | OTCQB: PNXLF), Blue Sky Uranium Corp. (TSXV: BSK | OTCQB: BKUCF) and Golden Arrow Resources Corporation (TSXV: GRG | OTCQB: GARWF).
Golden Arrow Resources Corporation
The Grosso Group President and Golden Arrow Resources Corporation CEO Joseph Grosso was named Argentina’s mining man of the year for 2005. Golden Arrow’s strategy is to capitalize on both the corporate expertise and experience, and the exploration talent that exists within the Grosso Group.
Puna Operations Inc. (25% owned by Golden Arrow Resources Corp.)
Puna Operations owns the Chinchillas Silver Mine Operation in Argentina, that has more than 8 years of forecast production and upside potential. In 2018, Puna Operations produced a total of 3.7 million ounces of silver, 8.8 million pounds of zinc and 3.1 million pounds of lead. Silver sold for the year totaled 3.8 million ounces. In December ore was sourced exclusively from Chinchillas and achieved a 3,605 tonnes per day milling rate. Puna is expected to produce between 6 and 7 million ounces of silver at cash costs of between $8 and $10 per payable silver ounce sold. Also within the Puna Operations is the Pirquitas Mill, processing and tailings storage facility.
Joseph Grosso, Golden Arrow Chairman and CEO commented: “Puna had a pivotal year in 2018, with the first commercial production from Chinchillas coming on stream. We applaud our operating partner for its steady achievements at the project and look forward to Puna reaching the 2019 guidance of six to seven million ounces of silver produced.”
New Golden Exploration Inc. (100% owned by Golden Arrow Resources Corp.)
New Golden is an advanced Cu-Au exploration project in Chile that also holds prospective exploration properties in major geological belts in Argentina. Structured to allow for public spin-out, New Golden are currently seeking JV Partners for the rapid advancement of prospective portfolios and to grow advanced projects with potential for short path to resources and production.
New Golden Exploration projects include:
- The Indiana Au-Cu Project that covers 2,300 hectares with a historic (2013) inferred resource estimate of 607,000 oz AuEq., in near-surface, high-grade veins that is permitted for production.
- The Atlantida Cu-Au Project which has significant potential for expansion of mineralization on a new consolidated property, both adjacent to a historic resource, along trend and throughout the property. Thirty-one rock samples on the property adjacent to a historical resource area returned up to 3.7 g/t gold and 1.98% copper, with the average result of 0.51 g/t gold and 0.49% copper.
- The Antofalla Project in Argentina that covers 8,760 hectares. The project has strong similarities to Chinchillas with results including 18 m @ 128 g/t Ag, 0.23 g/t Au, 0.88% Pb in historic drilling, 14.9 m @ 271 g/t Ag, 1% Pb in GRG due diligence channel sampling, 2 m @ 9.2 Au g/t, 52 Ag g/t, 5 % Pb in historic trenches. Antofalla offers a 100% earn-in opportunity with low initial commitments.
Joseph Grosso and The Grosso Group continue to create investor value in South America with several listed member companies that includes Golden Arrow and its subsidiaries. Now that they are earning an income from their 25% JV Puna operations they will continue to invest in potential projects that create value for all its investors.
Golden Arrow is a Vancouver-based explorer with a history of success in identifying, acquiring, and advancing precious and base metal discoveries.