JV Article: Golden Arrow Resources aims to advance its flagship San Pietro project in Chile
The 184.5 sq. km San Pietro copper-gold-cobalt project in Chile. GOLDEN ARROW Means
Canadian explorer Golden Arrow Assets (TSXV: GRG US-OTC: GARWF) holds a portfolio of important and base metal projects in Argentina and Chile.
Golden Arrow is component of the Grosso Group of providers, which has been performing properly in Argentina because 1993, exactly where it has been concerned in many important discoveries, which include the Chinchillas silver deposit, now owned by SSR Mining (TSX: SSRM NASDAQ: SSR ASX: SSR), and Blue Sky Uranium’s (TSXV: BSK) Amarillo Grande uranium-vanadium project.
In March, Vancouver-headquartered Golden Arrow expanded its footprint in Chile following the acquisition, as a result of its wholly-owned subsidiary New Golden Explorations Chile SPA, of the San Pietro iron-oxide gold-copper (IOGC) task, previously owned by Sumitomo Steel Mining Chile Ltda.
Brian McEwen, Golden Arrow’s vice-president of exploration and development, suggests the business “had expended a considerable volume of time buying about for initiatives to invest in but what was out there was incredibly expensive and not really worth pursuing.”
“Then, in September, we gained a connect with asking if we’d be fascinated in seeking at San Pietro. The entrepreneurs, Sumitomo Steel Mining Chile Ltda, had been on the lookout to offload the assets. We did our because of diligence on the job and then efficiently bid for it, completing the acquisition in mid-March.”
He suggests it was the sale of the company’s remaining desire in the Chinchillas challenge in Chile, a Golden Arrow discovery that was at some point marketed to SSR Mining, which “left us with a healthful lender account and permitted us to make a funds payment of US$3.35 million for a 100% interest in San Pietro.”
The 184.5-sq.-km house is positioned in the Atacama area of northern Chile, approximately 100 km north of the metropolis of Copiapo, in a very well-established mining district that offers excellent infrastructure and hosts all of the country’s significant IOCG deposits. These include Capstone Copper’s (TSX: CS) Santo Domingo, promptly adjacent to and east of San Pietro, and Mantoverde, about 10 km to the southwest.
San Pietro “sits correct involving these two jobs (with Mantoverde a creating mine and Santo Domingo remaining created into a mine), which comprise about a billion tonnes of combined means,” McEwen suggests.
The undertaking, he suggests, gives in the vicinity of-term useful resource prospective and a number of targets with sizeable exploration upside and “has witnessed minor to no function carried out on the house due to the fact 2014.”
He additional that the project’s previous evaluations “were based mostly mainly on copper only — considering the fact that that time, the rate of copper, gold, and particularly cobalt have risen sharply.”
“With cobalt now buying and selling at close to US$34 for every pound, which is approaching practically ten periods the selling price of copper, and its great importance to the clear power transition wherever it’s employed in lithium-ion batteries, we believe cobalt will engage in an more and more vital purpose in the in general economics of the job,” McEwen says.
He pointed out, for occasion, that Capstone just lately extra a cobalt circuit to its operations at Santo Domingo.
According to McEwen, San Pietro has experienced just about US$15 million in exploration carried out by earlier homeowners and hosts numerous targets and an comprehensive exploration database that contains 34,276 metres of drilling, over 1,000 floor samples, geological mapping, and conclusions from induced polarization, magnetic, transient electromagnetic, and gravity surveys.
“The get the job done determined 4 principal spots of mineralization — Rodeo, Radiss Norte, Rincones, and Colla. Of these, Rincones has been the principal emphasis of earlier drilling campaigns, with 47 holes drilled on the concentrate on returning significant intervals of copper, gold, and cobalt mineralization.”
Highlights from the drilling at Rincones integrated hole RA12DH-003, which intersected 28 metres grading 1.14% copper, .12 gram gold for every tonne, and 335 sections for every million (ppm) cobalt setting up from 236 metres downhole and RADH-02, which returned 34 metres of 1.2% copper, .21 gram gold, and 589 ppm cobalt from 370 metres.
Drilling at Colla, 2.3 km southwest of Rincones, returned considerable cobalt intervals, with CO11DH-001 hitting 10 metres of 626 ppm cobalt from 211 metres and CO11DH-002 intersecting 32 metres of 414 ppm cobalt from 116 metres.
The Rodeo target, 7.5 km northwest of Rincones, demonstrates substantial copper and cobalt mineralization, with RO12DH-005 intersecting 34 metres of 1.03% copper and 334 ppm cobalt from
Found 2.7 km north of Rincones, Radiss Norte shows close to-surface area cobalt mineralization, with RADDH-05 returning 29 metres of 306 ppm cobalt starting off from floor.
McEwen claims that above the upcoming six months the enterprise ideas to advance the job by re-logging much of the drill core to far better outline the present targets, and undertake area exploration and geophysics all over the property to fill in gaps in the sampling protection and detect supplemental targets.
“This function will modernize and create the database for the principal prospective clients, especially Rincones, and refine the targets for a prospective source delineation drill system,” he clarifies. “We then plan to commence an approximate 40,000-metre comply with up drilling marketing campaign in early 2023 to delineate a resource for San Pietro.”
Golden Arrow’s other asset in Chile is the Rosales copper challenge. In Argentina, its assets include things like Flecha de Oro gold, Caballos, Don Bosco, and Mogote copper-gold, Potrerillos gold-silver, and Yanso gold jobs.
The previous Joint-Enterprise Article is PROMOTED Written content sponsored by GOLDEN ARROW Means and produced in cooperation with The Northern Miner. Visit www.goldenarrowresources.com for extra info.