TSX Venture Exchange (TSX-V): GRG
Frankfurt Stock Exchange (FSE): G6A
OTCQB Venture Market (OTCQB): GARWF
VANCOUVER, BC, Sept. 19,
2024 /CNW/ - Golden Arrow Resources
Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF),
("Golden Arrow" or
the "Company") is pleased to announce that it has
engaged the services of a Chilean environmental consultancy firm
for the preparation and submission of an Environmental Impact
Statement ("Declaración de Impacto Ambiental" or
"DIA") for the Company's flagship San Pietro
Iron-Copper-Gold-Cobalt Project in Chile ("San Pietro" or the
"Project"). Once approved by the relevant authorities, this
DIA will enable the Company to create and drill from an additional
80 platforms at San Pietro, allowing for significant advancement of
the project.
Brian McEwen, VP Exploration and
Development for Golden Arrow,
commented, "We have now completed about two thirds of our Phase
two drill program which will provide the data to estimate the first
mineral resource at San Pietro, focused on the Rincones target. The
results to date have upheld our confidence in the long-term
potential of the project and we are committed to continuing work to
build value for our shareholders. The DIA will provide the
ability for additional drilling to expand and upgrade resources at
Rincones as well as continue exploration at the earlier stage
targets on the project."
Ambiental y Sectorial, who will prepare the DIA, is a
well-regarded firm with vast experience in preparing applications
for and obtaining environmental permits for the mining and energy
sector and has advised major companies in several challenging
permitting assignments. The DIA will involve several
environmental studies, including baseline flora & fauna and
archaeological work, to comply with the environmental regulations
in Chile. Work will be initiated
in October and it is expected that the DIA will be completed
and submitted to the relevant authorities in the first quarter of
2025.
About the San Pietro IOCG Project
The San Pietro Project covers 19,200 hectares, approximately 100
kilometres north of Copiapo. Situated between and adjacent to
Capstone Copper's Manto Verde Mine property and Santo Domingo
Project, San Pietro is in the centre of a potential new
copper-iron-cobalt district within an active, well-developed mining
region that is home to all the major iron oxide-copper-gold
("IOCG") deposits in Chile.
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 and compiled
under the supervision of Brian
McEwen, P.Geol., VP Exploration and Development to the
Company. Mr. McEwen is a Qualified Person as defined in National
Instrument 43-101 and has reviewed and approved the contents of the
news release.
About Golden Arrow:
Golden Arrow Resources Corporation is a mining exploration
company with a successful track record of creating value by making
precious and base metal discoveries and advancing them into
exceptional deposits.
Golden Arrow is actively
exploring its flagship property, the advanced San Pietro iron
oxide-copper-gold-cobalt project in Chile, and a portfolio that includes nearly
125,000 hectares of prospective properties in Argentina.
The Company is a member of the Grosso Group, a resource
management group that has pioneered exploration in Argentina since 1993. The Grosso Group has a
strong track record of corporate finance and asset transactions,
including agreements with major companies such as SSR Mining and
Stellantis N.V.
ON BEHALF OF THE BOARD
"Joseph Grosso"
_______________________________
Mr. Joseph Grosso,
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 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.
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SOURCE Golden Arrow Resources Corporation
