Golden Arrow Resources Corp. (TSXV:GRG) announced further results from its Argentina-based Chinchillas silver project. A total of 8,985 meters have now been drilled, meaning the program is complete.
The three holes reported in today’s release “are the last of seven holes drilled into the new South Dome and Pascua targets, situated between 500 metres and 1500 metres south of the existing Chinchillas resource.”
- CGA-123 had mineralized intervals including silver, lead and zinc, from near surface to nearly 350 metres depth, with individual zinc values as high as 3.2%.
- CGA-124 had mineralization from 68 metres to over 350 metres depth, including 56 metres grading 30g/t silver, 0.5% lead and 0.9% zinc, or 75g/t silver equivalent, at 230 metres depth.
- CGA-128 returned several mineralized intersections, including 13 metres grading 0.6% zinc at 194 metres depth.
Brian McEwen, vice president of exploration and development at Golden Arrow, commented:
All seven holes in this new southern area returned significant silver, lead and zinc intercepts, which is a great success for a first drill program. We now estimate that this area, which covers just under a square kilometre, has a target potential of between 100 and 160 million tonnes at grades ranging from 32 to 40 grams per tonne silver equivalent. As we move the project to feasibility, it is a bonus to have an entirely new area with the potential to add 100 to 200 million ounces of silver equivalent to the project in the future.