Golden Arrow Reports 60-percent Rise in Resources at Chinchillas Project

Golden Arrow Resources Corp. (TSXV:GRG) announced an updated NI 43-101 compliant resource estimate for its Argentina-based Chinchillas silver-lead-zinc project. It includes results from the company’s recent 9,000-meter drilling program.

Highlights of the new estimate include:

• Indicated Resources of 95.9 million ounces silver equivalent (Ag Eq) at 121.1g/t Ag Eq grade (24.6 million tonnes grading 91.3 g/t silver, 0.65% lead and 0.31% zinc at a 40g/t Ag Eq cut-off)
  • Represents nearly a three-fold increase in indicated resources
• Inferred Resource of 68.7 million ounces Ag Eq at 97.1 g/t Ag Eq grade (22.0 million tonnes grading 56.9 g/t Ag, 0.61% Pb and 0.68% Zn at a 40g/t Ag Eq cut-off).
• Deposit still remains open to expansion
• New resources expected to positively impact the updated Preliminary Economic Assessment, underway

Brian McEwen, vice president of exploration at Golden Arrow, commented:

With an approximate 60% increase in resources, Chinchillas is proving to be a deposit of significant size, and we believe it has a future as an important mining project. The upcoming PEA will benefit from this increased resource and give us a better understanding of the mining potential. Furthermore, the deposit remains open in most directions and I am confident that our feasibility drill program will continue to expand the resource base.

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