Golden Arrow Resources Corporation (TSXV: GRG) has entered into an option agreement to acquire a 100% interest in the Espota Gold Project covering nearly 30sq. km in San Juan Province, Argentina.
Golden Arrow has commenced a reconnaissance surface exploration program throughout the property and has already identified a 1sq. km area hosting multiple targets of shear zone-hosted breccias and veins with quartz-tourmaline-hematite alteration and gold-silver mineralization.
Initial channel samples across breccia bodies in this area returned a best interval averaging 27.7m at 1.57g/t Au, including individual samples of 9.64g/t Au over 0.80m and 33.06g/t Au over 0.95m.
“Our robust project review and acquisition program in Argentina resulted in us securing the grassroots Espota project,” VP Exploration and Development, Brian McEwen, said.
It fits well with our strategy as it is a large under-explored land package situated near other discoveries and deposits.
“We were quickly able to identify some very promising structures and mineralization in just a small portion of the property so we are moving forward with a program to determine the overall potential of the project.”
Golden Arrow is continuing a detailed programme of mapping and sampling in the area of the targets identified to date and plans to complete a ground magnetics survey there later this quarter. A second team will continue reconnaissance exploration work over the remainder of the property.
Project and Programme Details
The Espota project consists of two exploration concessions (Cateos) that cover 2,887.3ha in the Eastern border of the Andean Cordillera Frontal (Front Range) of San Juan Province.
The Project is situated at an altitude of 2,700 to 3,200 m.a.s.l. which allows for exploration work most of the year. Access is from the town of Bella Vista, via 25km of provincial highway, followed by 13km of second order gravel road.
Golden Arrow has entered into an option agreement to earn 100% of the Project by making payments that total US$360,000 over two years to the local owners. An initial US$25,000 payment has been made.
The Espota project is situated in between active exploration projects Chita and San Francisco. The Chita project is a Cu-Au-Mo porphyry system located 6km north of Espota and owned by Minsud Resources Corp. under Joint Venture with South32 Ltd.
At Chita, a recent hole CHDH22-62 was reported with 86m with 0.94% Cu and 0.38g/t Au included in a wider interval of 518m with 0.34% Cu and 0.13g/t Au
No previous systematic exploration has been carried out at the project. Initial work by Golden Arrow has mapped a series of NW-SE trending shear zones within the sandstones that host breccias and veins with quartz-tourmaline-hematite alteration and gold-silver mineralization.
The largest of these targets “Quiscudo” shows a series of quartz-tourmaline-hematite breccia bodies and quartz-tourmaline veins outcropping along more than 600m of strike (https://bit.ly/41fBEWi). The field team cut channel samples over multiple outcrops in this area using an electric saw and sampled in 0.6m to 2m intervals.
So far, the best surface sampling returned an average of 27.7m averaging 1.57g/t Au, including 9.64g/t Au and 33.06g/t Au in 0.80m and 0.95m long samples, respectively. These two higher-grade samples might represent the borders of the breccia body, but the system is open in both directions.
Two other structures were also identified, the El Toma and Marcos targets, that consists of a series of quartz vein and veinlets identified over 350m.
All three structures are mineralized with gold and silver associated with elevated arsenic and bismuth pathfinder elements.
For further information please visit: https://goldenarrowresources.com/
