Golden Arrow Reports Exciting New Results Including 20m at 1.47% Cu from the Sparsely Drilled Centre of the Rincones Target at its San Pietro Iron-Copper-Gold-Cobalt Project, Chile
OTCQB Venture Market (OTCQB): GARWF
- Drill hole SP-DDH-14 intersected 12 well-mineralized intervals between 30 and 380 metres depth, highlighted by:
- 11.1m at 463 g/t Co and 42.2% Fe from 46.4m, and
- 5.95m at 0.80% Cu, 0.19 g/t Au, 159 g/t Co and 28.9% Fe from 180m, and
- 20m at 1.47% Cu, 0.16 g/t Au, 343 g/t Co and 27.2% Fe from 360m.
- Drill hole SP-DDH-15 returned a long mineralized interval interpreted to have intersected a newly-recognized mineralized structure at a low angle:
- 132m averaging 0.44% Cu from 114m.
- Drill hole SP-DDH-16 returned multiple mineralized intervals between 30 and 252 metres depth, highlighted by:
- 64m at 0.20% Cu from 30 m
- 2.27m at 0.22 g/t Au, 1395 g/t Co and 34.3% Fe from 246.93m.
Table 1. Summary of Intervals, Rincones Phase 2 Drilling
[Cu Grade >0.20% or
Hole |
|
From (m) |
To (m) |
Interval |
Cu (%) |
Au (g/t) |
Co (g/t) |
Fe (%) |
SP-DDH-14 |
|
30.00 |
32.00 |
2.00 |
0.26 |
0.23 |
94 |
12.3 |
|
42.05 |
44.00 |
1.95 |
0.29 |
0.06 |
134 |
21.1 |
|
|
46.40 |
57.50 |
11.10 |
0.10 |
0.04 |
463 |
42.2 |
|
|
90.00 |
92.00 |
2.00 |
0.28 |
0.02 |
122 |
21.0 |
|
|
173.00 |
174.50 |
1.50 |
0.30 |
0.08 |
54 |
15.9 |
|
|
180.00 |
185.95 |
5.95 |
0.80 |
0.19 |
159 |
28.9 |
|
|
220.00 |
221.00 |
1.00 |
0.36 |
0.10 |
192 |
27.3 |
|
|
274.60 |
278.00 |
3.40 |
0.64 |
0.32 |
176 |
24.2 |
|
|
284.00 |
287.58 |
3.58 |
0.47 |
0.20 |
322 |
27.6 |
|
|
310.00 |
312.00 |
2.00 |
0.80 |
0.10 |
83 |
15.0 |
|
|
318.00 |
320.00 |
2.00 |
0.44 |
0.04 |
108 |
16.7 |
|
|
360.00 |
380.00 |
20.00 |
1.47 |
0.16 |
343 |
27.2 |
|
SP-DDH-15 |
|
10.10 |
18.00 |
7.90 |
0.33 |
0.03 |
52 |
21.6 |
|
31.30 |
33.00 |
1.70 |
0.28 |
0.03 |
33 |
10.5 |
|
|
41.86 |
45.00 |
3.14 |
0.53 |
0.11 |
58 |
12.7 |
|
|
62.30 |
64.00 |
1.70 |
0.68 |
0.05 |
43 |
15.4 |
|
|
114.00 |
246.00 |
132.00 |
0.44 |
0.05 |
102 |
15.6 |
|
includes |
114.00 |
120.00 |
6.00 |
0.89 |
0.1 |
152 |
19.5 |
|
includes |
214.24 |
221.00 |
6.76 |
1.25 |
0.11 |
310 |
28.8 |
|
includes |
228.00 |
232.00 |
4.00 |
0.83 |
0.08 |
233 |
20.2 |
|
|
261.00 |
263.00 |
2.00 |
0.36 |
0.08 |
87 |
9.9 |
|
|
293.27 |
298.00 |
4.73 |
0.22 |
0.09 |
211 |
33.6 |
|
SP-DDH-16 |
|
30.00 |
94.00 |
64.00 |
0.20 |
0.03 |
44 |
11.5 |
|
150.00 |
170.00 |
20.00 |
0.25 |
0.04 |
58 |
10.6 |
|
|
180.00 |
182.00 |
2.00 |
0.25 |
0.06 |
109 |
12.7 |
|
|
190.00 |
194.00 |
4.00 |
0.02 |
0.05 |
220 |
14.7 |
|
|
222.00 |
241.90 |
19.90 |
0.05 |
0.07 |
326 |
16.6 |
|
|
246.93 |
249.20 |
2.27 |
<0.01 |
0.22 |
1395 |
34.3 |
|
|
250.26 |
252.00 |
1.74 |
0.04 |
0.08 |
490 |
16.6 |
|
Notes: Intervals are downhole length. See hole descriptions in text for additional details. |
San Pietro Phase 2 Drill Program Details
The Company is concentrating mainly on the Rincones advanced exploration target with the goal of completing an initial Mineral Resource Estimate. This target formed the core of the historic work, with 46 widely spaced holes drilled in an area of approximately 2.6 by 1.6 kilometres, resulting in numerous well mineralized intervals reported. The historic drill holes were roughly split into a north and south grouping, with a central area that had seen minimal drilling. Golden Arrow's 2023 drill program successfully identified significant extensions to the known mineralization at Rincones, particularly in the central area, as highlighted by hole SP-DDH-12, which returned an interval of 64.2 metres averaging 0.86% copper, 0.20 g/t gold, 196 g/t cobalt and 26.9% iron, starting at 42.8 metres downhole, as reported in the
SP-DDH-14 was also drilled in the sparsely tested central part of the Rincones target 260 metres east-northeast from SP-DDH-12, to a depth of 401.2 metres. Logging of the core from SP-DDH-14 identified four magnetite manto bodies with thicknesses of over 10 metres, starting at approximately 42 metres, with visible chalcopyrite and pyrite noted. Additionally, at 360 metres, a 24 metre-wide specularite breccia with visible chalcopyrite was intercepted (see Photo 1), which is interpreted as the same east-west structure that outcrops 150 meters north of this hole and also was intercepted by historic hole RARC-14, which returned 32 metres with 0.58% Cu. Preliminary modeling of the new information from SP-DDH-14 suggests that there is continuity of the mineralized magnetite manto bodies with previous holes on the north and south sides of the target (see section in Figure 2).
SP-DDH-15 was collared 290m northeast of hole SP-DDH-14 in the central Rincones target area. The hole cut a sulphide-mineralized specularite breccia system, with core logging indicating that it was intercepted at a low angle, resulting in an interval of 132 metres averaging 0.44% Cu. The lateral extent of this mineralization will be tested by additional drilling later in the campaign.
SP-DDH-16 was collared in the northern part of the Rincones target. The hole intersected a series of crackle breccias and specularite veinlets with some chalcopyrite, with the longest interval from 25 to 84 to metres depth. From 247 to 249 metres the drill hole intersected a magnetite-rich manto with significant pyrite mineralization.
The goal of the 2024 campaign is to provide additional drill data to facilitate the first Mineral Resource Estimate for the Project. The Company is currently drilling the final hole in this set of eight at Rincones and has also completed one additional hole at the Colla target. It is anticipated that the next set of holes in the program will be additional step-outs at Rincones, plus one hole to twin an historic hole drilled via reverse circulation, to verify previous data for inclusion in the future resource model.
Table 2. Drill Hole Collar Information, Rincones Target
[PSAD 56 / UTM Zone 19 S]
Hole |
Easting |
Northing |
Elevation |
Azimuth |
Dip (˚) |
Final |
SP-DDH-14 |
391149 |
7071727 |
955 |
39 |
-63 |
401.2 |
SP-DDH-15 |
391411 |
7071858 |
894 |
20 |
-74 |
320.0 |
SP-DDH-16 |
390925 |
7072153 |
958 |
200 |
-60.5 |
272 |
Methodology & QA/QC
This drilling campaign was completed by Sociedad de Servicios Andinos SpA of Copiapó, Chile, using diamond drill producing HQ-sized core. The Golden Arrow field team, supervised by senior geologists, photographed and logged the entire length of core for each drillhole, as well as measured it for recovery and marked it for sampling. Pieces of whole core approximately 10 to 15 cm long were selected and measured for specific gravity on average every 20 metres and targeting all different lithologies. Subsequently, the core was cut in half with an electric saw. One half was labelled, bagged and sent for analysis and the other half retained onsite. After completing the sampling of each hole, the samples were shipped to
About the
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.
Qualified Persons
The exploration programs are designed by the Company's geological staff and results are reviewed, verified (including sampling, analytical and test data) and compiled under the supervision of
About Golden Arrow:
Golden Arrow is actively exploring its flagship property, the advanced San Pietro iron oxide-copper-gold-cobalt project in
The Company is a member of the
ON BEHALF OF THE BOARD
"Joseph Grosso"
_______________________________
Mr.
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; the possibility that future exploration. 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
View original content to download multimedia:https://www.prnewswire.com/news-releases/golden-arrow-reports-exciting-new-results-including-20m-at-1-47-cu-from-the-sparsely-drilled-centre-of-the-rincones-target-at-its-san-pietro-iron-copper-gold-cobalt-project-chile-302194371.html
SOURCE