Golden Arrow Resources Corporation (TSXV: GRG) has identified copper and cobalt in the first results from the Phase 1 diamond drilling programne at the Company’s flagship San Pietro Iron-Copper-Gold-Cobalt Project in Chile.
These first results from two completed holes are from the Colla target, an early-stage exploration prospect with high cobalt and iron in limited historic drilling, located approximately 2km southwest from the main Rincones target.
Hole SP-DDH-02 was collared nearly 500m from the historic holes, testing an IP geophysical anomaly. The hole returned multiple intervals of copper, gold, cobalt and iron, highlighted by:
- 34m averaging 0.41% Cu, 0.07g/t Au, 466g/t Co and 18.0% Fe at 257m depth, including 11m averaging 0.98% Cu, 896g/t Co and 30.9% Fe
- 8.60m averaging 0.83% Cu, 0.04g/t Au and 1156g/t Co at 472.4m depth
- 2.90m averaging 7.39g/t Au and 119g/t Co at 354.85m depth.
The final interval noted above was highest gold results ever reported at the project. The results of hole SP-DDH-02 opens a new prospective area that appears parallel to the main Colla specularite breccia, and is open for lateral extension to the north and south as well as in the undrilled area between holes,
“Based on the historic drilling we expected to mainly hit high cobalt in this area, which is what makes Colla such an interesting sweetener to our main Rincones target, just 2km to the northeast,” VP Exploration and Development, Brian McEwen, said.
“But to make this large step-out and hit these grades of copper, cobalt and gold in hole 2 is fantastic and could be a future game changer for the project.
“With hole 9, we hit the expected Co-rich specularite breccia body, confirming the central area of this 1.5km long structure carries strong mineralization. The team is very excited for the upcoming results from Rincones and the other exploration targets, based on the core from Phase 1. These will allow us to finalize plans for the next round of work.”
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