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Golden Arrow Defines a Three Year Development Plan for its Chinchillas Silver Project with Priority on Feasibility and Moving Towards Production
(via Thenewswire.ca) Vancouver, BC / TNW-ACCESSWIRE / August 1...
About this update from Golden Arrow Resources Corp.
[{"type":"text","content":"Golden Arrow Defines a Three Year Development Plan for its Chinchillas Silver Project with Priority on Feasibility and Moving Towards Production(via Thenewswire.ca)\n \n \nVancouver, BC / TNW-ACCESSWIRE / August 18, 2014 / Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), \"Golden Arrow\" or the \"Company\") is pleased to provide an overview of management's streamlined plan to maximize values.\n\n \n \nManagement, with its long experience in the mining industry, rose to the challenge of dealing with the current down trend by implementing a strategy to lower operating budgets, narrow the Company's exploration activity and source out funding that was negligible to shareholder dilution.\n\n \n \nIn order for management to meet the challenge of sourcing funds, at minimal dilution to the treasury and as previously announced, the one percent royalty owned on Yamana's Gualcamayo mine was monetized to enable management to concentrate on a very narrow select exploration activity which produced the Chinchillas silver project discovery.\n\n \n \nManagement has strategized together with its technical team to implement a three stage development plan for the Chinchillas project which is detailed below.\n\n \n \nManagement's Staged Development Plan\n\n\n \nStage I:\n\n\n \nThe primary focus of the Company is to advance Chinchillas to a production stage. To do so, the following steps will be implemented over the next 16 months:\n\n\n \n\n\n-The Company is currently incorporating the results of the recently completed 9,000 metre diamond drill program into the geological model to update the resource estimate. \n\n\n\n \n \n\n\n-Following the completion of the new resource estimate, the financial models will be revised, and new NI 43-101 technical reports will be issued, including an updated Preliminary Economic Assessment (PEA). The green outline in Figure 1 below represents the main areas where the resource is expected to expand based on the recent drill program.\n\n\n\n \n \n\n\n-Infill and associated drill programs will be completed to upgrade resources to measured and indicated, delineate resource boundaries, and define the general layout. The blue outline in Figure 1 below represents the areas in which these drill programs are likely to occur. \n\n\n\n-The geological model and resource estimate will be further updated t...