Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), "Golden Arrow" or the "Company") has received and filed on SEDAR the independent NI 43-101 Technical Report (the "Report") regarding the Mineral Resource Estimate for the Chinchillas Silver-Lead-Zinc Project in Argentina, as described in the Company's news release dated May 9, 2013.
The Report, dated June 20 2013, was prepared according to NI 43-101 guidelines and in accordance with CIM Standards on Mineral Resources and Reserves, under the supervision of independent qualified persons, Bruce Davis, Ph.D. FAusIMM, and Kyle Howie, B.Sc., MAIG.
Highlights from the Report include:
- Indicated resources of 7.2 million tonnes grading 119 g/t silver, 0.57% lead and 0.48% zinc (32.6 million ounces silver equivalent ("Ag Eq") at 141 g/t Ag Eq; 50g/t Ag Eq cut-off).
- Inferred resources of 21 million tonnes grading 78 g/t Ag, 0.69% Pb and 0.62% Zn (72.2 million ounces Ag Eq at 107 g/t Ag Eq grade; 50 g/t Ag Eq cut-off) .
- The main mineralized zones at Chinchillas have yet to be closed off by drilling and there are several exploratory drill holes with significant mineralization outside the current resource model.
- A proposed 7,000m of additional drilling is recommended to increase the resource size and confidence. In addition, preliminary engineering studies are proposed, as well as environmental and social impact assessments, to advance the Chinchillas Project. The total budget for the suggested programs is $2.3M.
A copy of the report will also be made available on the Company's website, www.goldenarrowresources.com.
The resource estimate and associated information in this news release was prepared under the supervision of, and approved by, independent consultants to the Company, Bruce Davis, Ph.D. FAusIMM, of BD Resource Consulting Inc., and Kyle Howie, B.Sc., MAIG. The contents of the news release have been reviewed and approved by Brian McEwen, P.Geol., VP Exploration and Development to the Company. Dr. Davis, Mr. Howie, and Mr. McEwen are Qualified Persons as defined in National Instrument 43-101.
About Golden Arrow:
Golden Arrow is a Vancouver-based explorer focused on identifying, acquiring and advancing precious and base metal projects in Argentina with the goal of achieving a world class discovery. The core focus is on advancing the flagship Chinchillas Silver Project located in Jujuy, Argentina. Golden Arrow has a strong treasury which will allow the company to advance its Chinchillas Silver Project. Golden Arrow will continue to execute its strategy to leverage the Company's exploration exposure by attracting partners to fund work on its other high quality mineral projects. Golden Arrow is a member of Grosso Group, a management company specialized in resource exploration, and working in Argentina where it is highly regarded and trusted since 1993.
ON BEHALF OF THE BOARD
Mr. Joseph Grosso
Executive Chairman, President, CEO and Director
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements. 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.