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Golden Arrow's Joseph Grosso on Creating Shareholder Value in Argentina
Aug. 06, 2015 03:15PM PSTPrecious Metals
Joseph Grosso of Golden Arrow on recent drilling at the Chinchillas silver project and how the company plans to fast track the project to production.
At last week’s Sprott-Stansberry Vancouver Natural Resource Symposium, the Investing News Network had the chance to speak with Joseph Grosso, president, CEO and executive director of Golden Arrow Resources (TSXV:GRG).
Golden Arrow is focused on the Argentina-based Chinchillas silver project, which it recently completed option payments for. Grosso began by explaining why that was an important milestone for the company, also touching on the results of a recently completed Phase IV drill program at the project.
That program led to a “significant” resource increase at Chinchillas. It now has an indicated mineral resource of 25.9 million tonnes grading 77.2 g/t silver, 0.66 percent lead and 0.66 percent zinc at a cut off of 45 g/t silver equivalent. Meanwhile, its inferred resource sits at 47.1 million tonnes grading 50.2 g/t silver, 0.52 percent lead and 0.64 percent zinc, also at a cut off of 45 g/t silver equivalent.
However, what’s perhaps even more encouraging is that step-out drilling completed during the program did not end up defining Chinchillas’ limits. Grosso said, “we have discovered new areas that deserve to be continued, that will give an extension eventually when we do it.” He added, “we have not delineated exactly where it ends.”
Of course, investors are no doubt wondering what the company’s next steps may be. In answering that question, Grosso emphasized that Golden Arrow’s plan is to get into production as quickly as possible. “We’re located in a region which [has] a silver-producing history; in fact, seven companies are already in production on the trend,” he said. The company hopes to do a deal with one of those producers in order to reduce the amount of time it takes to get into production.
Grosso concluded by shedding some light on how Golden Arrow has been able to succeed in today’s rough silver price environment. “Value, value, value,” he said, noting that while it’s easy to be scared out of the markets, some investors “do take the time to look at our values and keep on buying. Fortunately we have more buyers than sellers.”
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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