Golden Arrow Discovers New Area of Mineralization at Chinchillas

Golden Arrow Resources Corp. (TSXV:GRG) announced results from nine further drill holes completed as part of the Phase IV drilling program taking place at its Argentina-based Chinchillas silver-lead-zinc deposit.

The company also said that it’s received a third concession that will be part of Chinchillas. Called Chinchillas II, it covers an 883-hectare area immediately west of the Chinchillas and Chinchillas I concessions.

As quoted in the press release:

Results from four of the holes have confirmed a significant new area of deeper mineralization in the western side of the deposit that is expected to contribute to an increase in resources. The four holes stepped out approximately 100 metres to the east, west and north, and approximately 50 metres to the south of Phase III drill hole CGA-126 that first intersected this mineralization, and all four holes encountered the same new mineralized area at depths of 160 to 180 metres.

Highlights from the newly reported holes include:

• 227 g/t silver equivalent (‘AgEq’) over 11.5 metres (79 g/t silver, 2% lead, 2.6% zinc) at 162 metres depth in CGA-148
• 102 g/t AgEq over 3 metres (47g/t silver, 1.2% lead and 0.5% zinc) followed by 1.1% zinc over 27 metres at 179 metres depth in CGA-149180 g/t AgEq over 27 metres (67 g/t silver, 1.3% lead, 2.2% zinc) at 172 metres depth in CGA-152
  • Plus 181 g/t AgEq over 41 metres (81 g/t silver, 0.7% lead, 2.4% zinc) in the upper part of the hole at 14 metres depth.
• 113 g/t AgEq over 21 metres (74 g/t silver and 1.2% lead) at 177 metres depth in CGA-153
  • Including 317 g/t AgEq over 2 metres (214 g/t silver and 3.2% lead)

Brian McEwen, vice president exploration and development, commented:

We are pleased that drilling continues to expand the areas of mineralization, especially at depth. These deeper zones have the potential to expand the resources and pit configuration significantly and therefore improve the economics of Chinchillas. In addition, the increase in the concession area gives us more targets for resources and a broader area for possible project infrastructure requirements in the future.

Click here to read the full Golden Arrow Resources Corp. (TSXV:GRG) press release.