Golden Arrow Resources Corporation (TSXV: GRG) has obtained additional positive results from the Phase 1 diamond drilling programme at the company’s flagship San Pietro Iron-Copper-Gold-Cobalt Project in Chile, including one hole from each of the Mariposa and Rodeo exploration prospects.
“With these results and the ones from the Colla target announced earlier in June we have confirmed our new interpretations for all three of the early-stage exploration targets we tested,” Brian McEwen, VP Exploration and Development, for Golden Arrow said.
“Up next will be the drill results for our more advanced Rincones target, where we expect to confirm that the new interpreted geometry led us to significant mineralization that will increase the resource potential.
“As we wait for the remaining Phase 1 data for Rincones, we are finalizing the engagement of several consulting geoscientists, including a structural geologist, all of whom will contribute to the drill planning and detailed modelling required for a future resource estimate. We have been methodical in our approach thus far, which will allow us to move forward quickly and efficiently in Phase 2 and beyond, and we are very excited about what lies ahead.”
The Mariposa target includes several occurrences of specularite veins with visible copper oxide mineralization as well as historic small mine workings, in the northeast corner of the property package.
Phase 1 drill hole SP-DDH-08 tested one such occurrence located approximately 6km from San Pietro’s main Rincones target and approximately 3.5km from Capstone Copper’s Santo Domingo Project resource area.
The occurrence had seen significant trench sampling by previous operators but was previously undrilled. SP-DDH-08 successfully confirmed mineralization at depth, in a structure believed to be the main feeder for mineralization in the immediate area. Several shallow well-mineralized intervals were intersected, including: 19.86m averaging 0.49% Cu, 0.19g/t Au, 575g/t Co and 17.26% Fe at 64.14m depth, Including 6m averaging 1.47% Cu, 0.34g/t Au, 517g/t Co and 15.42% Fe
The Rodeo target is in the northern part of the project, located 7.5 km northwest of Rincones. This target has one historic hole, RO12DH-005, which intersected 34m averaging 1.03% Cu, 334ppm Co starting at 120m downhole. Phase 1 drill hole SP-DDH-10 successfully confirmed the lateral continuity of the Cu-Co mineralization from the historic hole, cutting a long shallow mineralized interval: 24m averaging 0.34% Cu, 0.04g/t Au, 234 g/t Co and 13.14% Fe
The current and historic holes at Rodeo appear to have intersected the same northwest-trending structure that is currently being mined by small-scale local miners on adjacent tenements.
Additional Project and Phase 1 Drill Program Details
The San Pietro Project is hosted by andesite units in a Cretaceous 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 breccias, veins and mantos within a zone of K-feldspar-chlorite alteration. These structures are rich in magnetite and specularite and in some cases calcite and are mainly developed along NW-SE lineaments.
Within the 180 sq. km land package, the company is focused on the Rincones advanced exploration target for completing an initial resource estimation. This target formed the core of the historic work, with 46 widely-spaced holes drilled in an area of approximately 2.6km x 1.6km, resulting in numerous intervals with significant copper, gold and cobalt.
Golden Arrow completed six diamond drill holes at Rincones in Phase 1 drilling to test new geologic interpretations and is awaiting final results prior to continuing on with more detailed drilling and deposit modelling.
Mariposa Target
This target covers an area of approximately 1.5km by one km where there are several historic small mine workings in specularite veins hosting copper mineralization. At one of these areas, the previous operator of the project excavated seven N-S striking trenches and sampled the oxide zone across a series of E-W striking specularite veins and veinlets.
Most of the trenches returned significant intervals of copper, cobalt and gold mineralization including a best interval of 38m averaging 0.29 % Cu, 225g/t Co and 0.12g/t Au.
Golden Arrow completed new detailed geological mapping in this area, as well as a reinterpretation of the historic maps and trenches. This work identified a NW-SE striking structure interpreted to be the main feeder to the E-W veins
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