Golden Arrow Resources Corporation (TSXV: GRG | FSE: G6A | OTCQB: GARWF) is now drilling the first hole of an approximate 10,000m diamond drilling campaign at the San Pietro iron-copper-gold-cobalt project in Chile. The goal of the 2024 campaign is to provide additional drill data to facilitate the first mineral resource estimate for the project.
Brian McEwen, VP Exploration and Development for Golden Arrow, commented, “We are excited to have the drills turning at San Pietro. Recent surface mapping and relogging of existing drill core has allowed us to fine tune the programme as well as identify new targets. It is all coming together in a very positive way.”
The focus of the programme will be the advanced Rincones target where the 2023 drill programme hit significant new intercepts that extended the mineralized zone, including 64.2m averaging 0.86% copper, 0.20 g/t gold, 196 g/t cobalt, and 26.9% iron, starting at 42.8m depth in hole SP-DDH-12 The first several holes of this new campaign will complete a grid pattern to verify the spacing sufficient for classifying resources, as suggested by the modelling work completed to date. This will be followed by additional infill holes as required based on continued modelling. Following the infill holes at Rincones, up to 3,000m of drilling will be used to test for new mineralization at other high-potential target areas throughout the project.
“We have already established strong iron oxide-copper-gold mineralization in a location that benefits from being situated in an active IOCG-producing district, within a leading copper-gold mining jurisdiction. We are completely funded and underway on a resource delineation drill program, at a time when copper and gold prices are reaching exciting highs supported by strong long-term forecasts. This could translate to intense interest in San Pietro moving forward.” Added Brian.
The programme is being funded through the option granted to Sociedad de Servicios Andinos SpA in respect to the San Pietro Project as announced on 12 January 2024. SSA procured a new drill rig, which is now drilling the first hole, and supplied other equipment, supplies, and drill personnel to service the programme.
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