Golden Arrow raises C$44m via sale and buys into a potentially large gold project in Paraguay…

Golden Arrow Resources Corporation (TSXV: GRG | OTCQB: GARWF) is a Canadian explorer/developer with a pipeline of ~200,000 hectares of high quality mineral projects at all stages of exploration, with exposure to Argentina, Chile and Paraguay. As a member of The Grosso Group, Golden Arrow is an explorer with a history of success in identifying, acquiring and advancing precious and base metal discoveries. The main targets on their properties include gold, silver and base metals.

Golden Arrow’s Argentina properties (blue circles)

Golden Arrow sells their 25% interest in the Puna Operations to SSR Mining Inc. (SSRM)

In a recent special shareholders meeting Golden Arrow has reported that its shareholders have approved, by a sweeping majority, the proposed special resolution regarding the sale of the Company’s 25% interest in Puna Operations Inc. to its joint venture partner SSR Mining Inc. for an aggregate consideration of C$44.4 million. The funds will be used to pay off debt to SSRM (C$14.5 million) and also will result in Golden Arrow owning C$25.9 million in common shares of SSRM.

This means Golden Arrow will still participate as a shareholder in SSRM’s success. The Puna Operations alone have 51.7 Moz of silver reserves and a 118.7 Moz silver resource (M&I) and are currently in production with an 8 year mine life. SSRM’s 3 precious metal mines combined produced over 345,000 AuEq ounces in 2018 @ $736/oz cash costs.

Joseph Grosso, President, CEO and Executive Chairman stated: “I would like to thank our shareholders for their overwhelming endorsement for this transaction.”

Golden Arrow’s Chile Projects

  • Indiana Gold-Copper Project – An historic NI 43-101 inferred mineral resource estimate of over 600,000 ounces of gold equivalent (including 3,093,700 tonnes averaging 2.8 g/t gold and 1.6% copper.
  • Atlantida Gold-Copper Project – An historic mineral resource estimate of 427 million tonnes averaging 0.43% copper equivalent.

Golden Arrow recently announced the completion of its first surface trench sampling program at the Atlantida Gold-Copper Project in Chile. Results are outlining a target area of approximately 1 km by 250 meters, where trenching has returned samples with significant intervals of gold which could be amenable to heap leach recovery methods. The Company has now initiated an accelerated drilling program to further investigate the prospect for a significant deposit in this area. Golden Arrow is earning a 100% interest in the 3,450 hectare Atlantida Project. The Project is road-accessible with an abundance of both outcrop and old workings. A total of 662 samples were collected from a combination of nine new and three historic trenches. The program focused on an area where historic copper-gold porphyry resource estimate was delineated.

Trench sampling highlights include:

  • 216 meters averaging 0.25 g/t Au in trench 2, including 48 m averaging 0.53 g/t Au.
  • 74 meters averaging 0.66 g/t in trench 7.
  • 52 meters averaging 0.34 g/t Au and 10 m averaging 0.96 g/t Au in trench 5.
  • 20 meters averaging 0.72 g/t Au in trench 4.

Golden Arrow’s VP of exploration and development said: “This trenching program supports our belief in the potential to expand the known area of near-surface gold mineralization adjacent to the copper-gold porphyry deposit at depth.”

Golden Arrow’s new Paraguay Project

The Tierra Dorada Project – A district-scale high-grade gold project covering an area of 640 km2 (63,854 ha). Multiple gold targets already defined. Rock chip assays range from 3.3 g/t to 15.1 g/t gold collected along a 2.5 km trend of sub-outcropping quartz veins; visible gold locally observed. Six shallow reverse circulation drill holes completed by Yamana Gold Inc. in 1996, with reported results including 3 meters averaging 2.87 g/t gold.

Next steps

Golden Arrow will now focus on making the next discovery from their advanced and prospective projects in Argentina, Chile, and Paraguay. The Company’s past success at mineral discovery, as well as its achievements in community and government relations, has made it a highly regarded and trusted explorer.

By investing in Golden Arrow Resources investors gain exposure to a successful project generator with exploration potential over a massive ~200,000+ hectares encompassing several high quality mineral projects in Argentina, Chile, and Paraguay. You also get equity exposure to precious metals producer SSR Mining Inc.

Golden Arrow Resources Corporation is headquartered in Vancouver BC; and has a market cap of C$19.2 million.




Goldplay’s CEO on acquiring another multi-million ounce silver asset

“We were really fortunate and we worked hard to consolidate and acquire low-cost 250 square kilometers of exploration portfolio in a world-class historical mining district, in my opinion. Why I say that is because there is a series of multi-million ounce historical mines in that district. One of them is the Rosario Mine that is next to our El Habal gold property that we have just built. We were also able to acquire another multi-million ounce asset that is the San Marcial silver asset that was previously owned by SSR Mining, another shareholder in the company. We are now in a position in a prolific district, to really grow the company and increase the valuation of the company…” states Marcio Fonseca, President & CEO of Goldplay Exploration Ltd. (TSXV: GPLY | OTCQB: GLYXF), in an interview with InvestorIntel Corp. CEO Tracy Weslosky.

Tracy Weslosky: Trump is all over the news. He has just made a deal with Mexico. We as Canadians are watching the news every minute of the day to see what happens next. You are a Canadian listed company and U.S. listed company with gold and silver in Mexico, correct? 

Marcio Fonseca: You are right.

Tracy Weslosky: I am going to start by asking you how you think this may benefit shareholders by having your exploration properties in Mexico. 

Marcio Fonseca: I see it as very positive outcome on the whole process of negotiation because it is going to derisk the perception of the investors in relation to Mexico and hard rock mining in Mexico has been the core business for the country. It shows an opportunity for us to continue growing the business and avoid any potential risk to increase cost because if NAFTA was not there, there would be more challenges to have suppliers from across the borders and keep the business flowing.

Tracy Weslosky: Marcio one of the many things I like about Goldplay is your team. You have a lot of really smart people in this group with excellent reputations. We as investors out here are, kind of, clamoring. The crowd is all following cannabis. I keep telling people it is called weed for a reason. You need to have a diversified portfolio. Can you tell me what the benefits are of investing in gold right now? Sorry to put you on the spot, but I thought I would ask an expert.

Marcio Fonseca: Alright. I think it is a great time to invest in gold considering all the other variables that we have in the macroeconomic world and see all the instability and risk that we have out there. Considering that the price has been subdued for a long period I am very bullish that there is an upside for the gold price in the near future, which is going to reflect directly into gold exploration companies and silver exploration companies because there is always a good correlation between the gold and silver price.   

Tracy Weslosky: Let us get right into it. We have an excellent property in one of the most prolific areas for gold and silver production over the last several hundred years. Can you introduce the InvestorIntel audience to the Goldplay property advantage please? 

Marcio Fonseca: We were really fortunate and we worked hard to consolidate and acquire low-cost 250 square kilometers of exploration portfolio in a world-class historical mining district, in my opinion. Why I say that is because there is a series of multimillion ounce historical mines in that district. One of them is the Rosario Mine that is next to our El Habal gold property that we have just built. We were also able to acquire another multimillion ounce asset that is the San Marcial silver asset that was previously owned by SSR Mining, another shareholder in the company. We are now in a position in a prolific district, to really grow the company and increase the valuation of the company on the TSX through GPLY, under new discoveries and resource expansion and development of projects….to access the complete interview, click here

Disclaimer: Goldplay Exploration Ltd. is an advertorial member of InvestorIntel Corp.




Golden Arrow making all the right silver moves

Golden Arrow is a silver producer with over 200,000 hectares of properties in Argentina

Golden Arrow Resources Corporation (TSXV: GRG | OTCQB: GARWF) is a Vancouver-based explorer with a history of success in identifying, acquiring and advancing precious and base metal discoveries. The Company’s goal is to define world class deposits and advance them into exceptional projects. Golden Arrow is actively exploring on their more than 200,000 hectares of properties in Argentina. The Company is a member of The Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993. Other members of this group include Argentina Lithium and Energy Corp. and Blue Sky Uranium Corp.

Mr. Joseph Grosso, Executive Chairman, President and CEO stated in a recent interview: “Argentina’s government now is more conservative and business friendly. Most of them are graduates of universities in the United States and fully conversant with economics. They have selected mining as one of the leading industries to rebuild their country. They are very supportive. I believe being in Argentina is going to be a plus.” Golden Arrow considers Argentina to be an underexplored country with highly promising potential stemming from its direct border with some of the world’s most prolific mining areas. (Chile and Bolivia).

Golden Arrow company structure

Puna Operations – Pirquitas mine and processing mill and Chinchillas silver project

Golden Arrow holds a 25% share of Puna Operations Inc., a joint venture company operated by SSR Mining (75%). The joint venture is producing silver concentrate from the Pirquitas operation and developing the nearby Chinchillas silver-lead-zinc project, which has more than 8 years of forecast production, and potential to extend on this. Chinchillas is currently under development, with 81 Moz AgEq. Reserves (P&P) and an 140 Moz AgEq Resource (M&I). Under the terms of the agreement with SSR Mining, Golden Arrow received a $17.8M payment from SSR Mining, when the joint venture was formed, meaning the project is fully funded to production. Production is expected to begin in August 2018.

Golden Arrow’s Argentine property sites

Pirquitas highlights for 2017 included 6.177 Moz silver produced, and 6 Moz silver sold at an average of $17.10/oz. During the year, ore was milled at an average rate of 4,927 tonnes per day. Stockpile ore milled contained an average silver grade of 152 g/t, higher than planned. The average silver recovery of 70.3% was lower than the previous year due to planned lower silver mill feed grade. Cash costs of $13.07/oz silver. Golden Arrow’s 25% Puna Operations share is equivalent to having a right to an average of 2.1 Moz. silver equivalent per year over the 8 year life of the mine.

Puna results summary

Golden Arrow’s 100% owned New Golden Explorations Inc.

Golden Arrow’s second value is from their continuation of exploration targeting key projects in Golden Arrow’s prolific property portfolio. In order to continue exploration, Golden Arrow has formed a 100% owned subsidiary called New Golden Explorations Inc., which is currently exploring and has plans on drilling three very advanced prospects to achieve new discoveries. As of March 2018, Golden Arrow announced drilling has commenced at their Antofalla Silver-Gold-Base Metal Project in Argentina. To help finance exploration, Golden Arrow recently announced that they have obtained a US$10m non-revolving term loan from SSR Mining Inc.

Golden Arrow Resources Corporation has a market cap of C$ 51 m. Insider ownership is very high at ~50%.

Golden Arrow is making all the right moves in Argentina. A 25% share in a producing silver mine, a 25% share in a near term, fully funded silver-lead-zinc project, and massive exploration upside from their 200,000 hectare properties portfolio. Added together this means Golden Arrow has a clear pathway for growth and to accrue long lasting potential value for shareholders in the years to come.