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Golden Arrow Resources Corp. (TSXV:GRG) announced that it’s started a Phase 5 drill program at its Argentina-based Chinchillas silver project.
Golden Arrow Resources Corp. (TSXV:GRG) announced that it’s started a Phase 5 drill program at its Argentina-based Chinchillas silver project. The program was developed jointly by Golden Arrow and Silver Standard Inc. (TSX:SSO,NASDAQ:SSRI), and is part of the pre-development activity period of their recently announced business combination.
As quoted in the press release:
Two diamond drills are operating at site and a third drill will be mobilized to site this week. The priority drilling is infill to upgrade mineral resources and geotechnical holes to define high wall angles in the pit and is expected to be complete by the end of November. The program will also include drilling holes for hydrogeology, metallurgy, condemnation and exploration which is expected to be complete by Q1 2016. The drilling will bring the project to a pre-feasibility level in order to complete the proper engineering studies for optimal potential development. The estimated budget for the pre-development activities is US$12.6 million.
Brian McEwen, vice president of exploration and development at Golden Arrow, commented:
We are excited to continue to advance Chinchillas towards production. This drill program will allow the companies to evaluate the synergies of a combined Chinchillas / Pirquitas mining operation, maximizing the value of existing infrastructure at Pirquitas with the resources at Chinchillas.
Click here to read the full Golden Arrow Resources Corp. (TSXV:GRG) press release.