TSX Venture Exchange (TSX-V): GRG
Frankfurt Stock Exchange (FSE): G6A
OTCQB Venture Market (OTCQB): GARWF
VANCOUVER, BC, April 3, 2025 /PRNewswire/ - Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF), ("Golden Arrow" or the "Company") is pleased to announce the Company has filed the NI 43-101 Technical Report (the "Report") supporting disclosure of the first mineral resource estimate ("MRE") for the San Pietro Copper-Gold-Iron-Cobalt Project in Chile ("San Pietro" or the "Project"), as reported on February 28th, 2025. Table 1 summarizes the MRE.
The Report, titled "Mineral Resource Estimate for the San Pietro Copper-Gold-Iron-Cobalt Project, Atacama Region, Chile" with an effective date of January 24, 2024, is available under the Company's profile on SEDAR+ at www.sedarplus.ca and will be posted to the Company's website www.goldenarrowresources.com .
Table 1. Inferred Mineral Resource Estimate for Rincones & Colla Deposits at San Pietro Property
Effective: January 24, 2025. Reported within US$4.80/lb Cu Pitshell at 0.30% CuEq Cut-off.
Qualified Persons: Susan Lomas, P.Geo. & Dr. Bruce Davis, PhD, FAusIMM
|
Class |
Oxide |
Tonnes Mt |
Average Grade |
Contained Metal |
||||||||
|
CuEq % |
Cu % |
Au g/t |
Co ppm |
Fe % |
CuEq Mlb |
Cu Mlb |
Au Koz |
Co Mlb |
Fe Blb |
|||
|
Inferred |
Oxide |
83 |
0.42 |
0.23 |
0.06 |
96 |
14.80 |
759 |
415 |
150 |
17 |
27 |
|
Inferred |
Sulphide |
410 |
0.41 |
0.23 |
0.05 |
99 |
14.35 |
3,686 |
2,055 |
620 |
90 |
130 |
|
Inferred |
All |
492 |
0.41 |
0.23 |
0.05 |
99 |
14.43 |
4,444 |
2,470 |
770 |
107 |
157 |
|
Notes to Table 1: |
|
|
1. |
In-Situ Mineral Resources are constrained within a pit shell developed using metal prices of US$4.80/lb Cu, US$2,300/oz Au, US$15/lb Co and US$110/lb Fe, mining costs of US$2.50/t, processing and G&A costs of US$9.46/t, metallurgical recoveries of 90% Cu, 65% Au, 80% Co and 40% Fe and an average pit slope of 45 degrees. |
|
2. |
CuEq values are based on copper, gold, cobalt and iron values using metal prices of US$4.10/lb Cu, US$2,500/oz Au, US$15/lb Co and US$105/lb Fe and metallurgical recovery values of 90% for Cu, 65% for Au, 80% for Co and 40% for Fe. The resulting formula is CuEq=Cu%+(Aug/t *0.705)+(Co%*3.252)+(Fe%*0.008), The cut-off grade for reporting the mineral resources within the pitshell is 0.30% CuEq using total costs of US$18/t. |
|
3. |
The block model was classed into Inferred Mineral Resources for blocks with two drill holes within 400m. |
|
4. |
Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves. |
|
5. |
Mineral Resources in the Inferred category have a lower level of confidence than that applied to Indicated mineral resources, and, although there is sufficient evidence to imply geologic grade and continuity, these characteristics cannot be verified based on the current data. It is reasonably expected that the majority of Inferred mineral resources could be upgraded to Indicated mineral resources with continued exploration. |
|
6. |
Totals in the table may not add up precisely due to rounding differences. |
Cautionary Statement Regarding Mineral Resources
The mineral resources disclosed in this press release conform to NI 43-101 standards and guidelines and were prepared by independent qualified persons. The above-mentioned mineral resources are not mineral reserves as they do not have demonstrated economic viability. The quantity and grade of the reported Inferred Mineral Resources are conceptual in nature and are estimated based on limited geological evidence and sampling. Geological data is sufficient to imply but not verify geological grade and/or quality of continuity. An Inferred Mineral Resource has a lower level of confidence relative to a Measured or Indicated Mineral Resource and constitutes an insufficient level of confidence to allow conversion to a Mineral Reserve. It is reasonably expected, but not guaranteed, that the majority of Inferred Mineral Resources could be upgraded to Measured or Indicated Mineral Resources with additional drilling.
Qualified Persons
Brian McEwen, P.Geol. VP Exploration and Development to the Company and a Qualified Person as defined in National Instrument 43-101 has reviewed and approved the contents of the news release.
About the San Pietro IOCG Project
The San Pietro Project covers approximately 20,000 hectares, 100 kilometres north of Copiapo within an active, well-developed mining region that is home to all the major iron oxide-copper-gold ("IOCG") deposits in Chile. San Pietro is centrally located in a potential new IOCG+Co district, between and adjacent to Capstone Copper's Mantoverde copper mine property and Santo Domingo copper-iron project, as well as other IOCG exploration and development properties.
The Project is hosted by andesite units in a Cretaceous-aged volcano-sedimentary sequence associated with intrusive rocks including granodiorites and diorites of similar age. The Project is located east of the Atacama Fault system, a major north-south regional structure, which was instrumental in controlling the emplacement of the ore deposits in the area.
Mineralization at San Pietro is typical of an IOCG system, with the addition of cobalt, and occurs in mantos, breccias and veins within a zone of alteration characterized by an association of actinolite, epidote, chlorite and scapolite. The mantos are replacement of andesite by magnetite and sulphides, with a roughly southeast strike and a gentle dip to the SW. Breccias and veins crosscut the mantos, are often subvertical, and filled with specularite and sulphides.
About Golden Arrow:
Golden Arrow Resources Corporation is a mining exploration company with a successful track record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits.
Golden Arrow is actively exploring its flagship property, the advanced San Pietro iron oxide-copper-gold-cobalt project in Chile, and a portfolio that includes nearly 125,000 hectares of prospective properties in Argentina.
The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
"Joseph Grosso"
_______________________________
Mr. Joseph Grosso,
Executive Chairman, President and CEO
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "anticipate", "will", "expect", "may", "continue", "could", "estimate", "forecast", "plan", "potential" and similar expressions. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments management of the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's plans for its mineral properties; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and future exploration and operating plans are forward-looking statements.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Accordingly, readers should not place undue reliance on the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things: risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with exploration activities; risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. There may be other factors that cause results or events to not be as anticipated. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's Management's Discussion and Analysis for a more detailed discussion of factors that may impact expected future results. The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
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SOURCE Golden Arrow Resources Corporation
