Property & Access

The San Pietro Project includes 18,448 hectares of exploration and exploitation concessions in the Atacama region of Chile, approximately 100 kilometres north of Copiapo in an active mining district that is home to all the major IOCG deposits in Chile. There is excellent mining infrastructure in the area, and the property is situated immediately adjacent to the west of Capstone Copper’s Santo Domingo mine development project and 10 km northeast of its Mantoverde mine. [Proximity to other mining projects in the area does not provide any assurances with respect to the prospects at the San Pietro Project.]

Geology & Exploration Summary

The San Pietro Project is hosted in different andesites units as part of the Cretaceous volcano-sedimentary sequence associated with intrusive rocks such as 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 the emplacement of the ore deposits in the area.

Mineralization at San Pietro is typical of an IOCG system with copper-gold-iron-cobalt minerals in breccias, veins and mantos within a zone of K-feldspar-chlorite alteration. These structures are rich in magnetite and specularite and in some cases associated with calcite and were mainly developed along NW-SE lineaments.

The San Pietro Project has an extensive historic database that includes results from over 34,000 metres of drilling plus over 1,000 surface samples and multiple geophysical surveys, which have been compiled to identify four main target areas. Golden Arrow’s due diligence review confirmed the considerable potential of the known targets and identified areas where new interpretations and additional work are expected to improve the prospects. 

The Rincones was the focus of most of the historic work and drilling and is therefore the primary target for short-term resource delineation. Highlights from drill hole assays include:

• 1.14% Cu, 0.12g/t Au, and 335ppm Co over 28 m starting at 236 m downhole in RA12DH-003.
• 1.20% Cu, 0.21g/t Au, and 579ppm Co over 34 m starting at 370 m downhole in RADH-02.
• 1.25% Cu, 0.32g/t Au, and 70ppm Co over 36 m starting at 18 m downhole in RARC-17.
• 0.76% Cu, 0.13g/t Au, and 146ppm Co over 20 m starting at 250 m downhole in RA12DH-002.

Several targets drilled significant cobalt grades in historic work, and recent surge in cobalt prices makes this an exciting addition to the project.  

The Colla target area is located at 2.3 km SW of Rincones. There have only been four holes drilled over a strike length of 2.2 kilometres and all showed significant cobalt grades:

• 626 ppm Co over 10 m starting at 211 m downhole in CO11DH-001
• 414 ppm Co over 32 m starting at 116 m downhole in CO11DH-002
• 310 ppm Co over 17 m starting at 229 m downhole in CO11DH-003
• 364 ppm Co over 12 m starting at 36m downhole in CO12DH-001

Additional targets for follow-up work include Rodeo, located 7.5 km NW of Rincones which returned 334ppm Co and 1.03% Cu over 34 m starting at 120 m downhole in RO12DH-005.

And the Radiss Norte target, located at 2.7 km north of Rincones, has near surface mineralization in drilling including:

• 276 ppm Co over 58 m starting at 29 m downhole in RADDH-01
• 269 ppm Co over 27 m starting at 69 m downhole in RA13DH-004
• 306 ppm Co over 29 m starting at surface in RADDH-05

For additional information and the latest results please refer to the Company’s News Releases and Presentations.

[Note: all drilling reported above was carried out by previous operators and has not been independently verified by the Company’s Qualified Person. Reported intervals are core lengths and true thickness has not been estimated at this time.]