Golden Arrow Resources Corp. (TSXV:GRG) announced results from the first seven holes of the 6,000-meter Phase III drill program at its Argentina-based Chinchillas silver project. The program is aimed at expanding the existing resource at the project.

Highlights include:

• 54 m at 290 g/t silver, 1.8% lead and 0.5% zinc at 130m depth in CGA-93,
  • Including 4m @ 882 g/t silver, 3.3% lead and 1.3% zinc
  • And also 5m @ 1172g/t silver, 4.2% lead and 1.4% zinc
• 13 m at 359 g/t silver, 2.4% lead at 199m depth also in CGA-93
• 43 m at 181 g/t silver, 1.3% lead at 106m depth in CGA-94
• 44 m at 102 g/t silver, 0.8% lead and 0.8% zinc at 11m depth in CGA-95
  • Including 13m @ 218 g/t silver, 1.4% lead and 1.1% zinc
• 28 m at 105 g/t silver, 1.2% lead and 0.8% zinc at 157m depth in CGA-98

Joseph Grosso, president and CEO of Golden Arrow, commented:

We are excited by these initial results from the Phase III exploration program. Some of the targets that have been drilled were based on geophysics. The fact that we have had success with this method gives us confidence that we will be able to build on our existing resource at Chinchillas with other similar targets. Management has now approved increasing the program to 8,000 metres, with most of the additional drilling directed at new targets.

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