Categories: Coin Shop Blog

Golden Arrow Reports More Phase V Drill Results from Chinchillas

Golden Arrow Resources Corp. (TSXV:GRG) announced assay results from a further 14 holes completed as part of Phase V drilling at its Argentina-based Chinchillas silver project. The program is aimed at evaluating the feasibility of creating a combined mining business with Silver Standard Resources Inc.\’s (TSX:SSO,NASDAQ:SSRI) Pirquitas mine.

The company also announced a non-brokered private placement of 2,918,000 units priced at $0.40 each. Gross proceeds will come to $1,167,200.

Drill highlights include:

151 g/t silver, 2.0% lead and 1.3% zinc over 61 metres in CGA-258

Includes 675 g/t silver, 4.4% lead and 3.4% zinc over 1 metre

And 403 g/t silver, 3.7% lead and 1.2% zinc over 3 metres

And 640 g/t silver, 8.6% lead over 2 metres

186 g/t silver, 1.1% lead and 0.5% zinc over 38 metres in CGA-259

Including 347 g/t silver, 0.8% lead and 0.6% zinc over 5 metres

And 420 g/t silver, 5.5% lead and 0.7% zinc over 2 metres

203 g/t silver, 1.6% lead and 1.0% zinc over 21 metres in CGA-249

Including 388 g/t silver, 2.6% lead and 1.4% zinc over 6 metres

245 g/t silver, 0.5% lead and 0.5% zinc over 20 metres in CGA-255

Including 853 g/t silver and 0.6% zinc over 2 metres