Golden Arrow Resources (GRG.V) has released more drill results from an ongoing Phase V exploration program on the Chinchillas poly-metallic deposit in Argentina’s Jujuy province. The company has reported back on the assay results of no less than 19 holes that have been completed as part of the due diligence activities funded by Silver Standard Resources (SSRI, SSO.TO) to earn a 75% stake in the Chinchillas project.
With drill results of 5 meters containing in excess of 50 ounces of silver per tonne of rock as well as 3 meters of 296 g/t silver, the drill program hasn’t missed its targets. VP Exploration Brian McEwen sounds very excited and we have very little doubt the updated resource estimate (which should be released within the next few weeks) will further de-risk this extremely promising property.
As all the engineering and environmental studies are advancing towards a pre-feasibility level and as the new president in Argentina is most definitely more mining-friendly, we agree with the message spread by the Argentinean delegation at PDAC: ‘the best is yet to come’.
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The author holds a long position in Golden Arrow Resources. Please read the disclaimer
