Golden Arrow Files PEA for the Chinchillas Silver Project

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[{"type":"text","content":"Golden Arrow Files PEA for the Chinchillas Silver Project(via Thenewswire.ca)\n \n \nGolden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), \"Golden Arrow\" or the \"Company\") is pleased to announce that it has filed on SEDAR an independent NI 43-101 Technical Report for the Chinchillas silver-lead-zinc project in Jujuy Province, Argentina (\"Chinchillas\" or the \"Project\"). The report supports the Preliminary Economic Assessment (\"PEA\") announced December 5th, 2013, which demonstrated the Project's positive economics based on its near-surface mineralization, good silver grades, access to infrastructure and amenability to conventional mining and processing. \n\n \n \n\"We appreciate the excellent efforts of our consultants in helping us to advance Chinchillas by providing a first view of the project's potential economics,\" stated Brian McEwen, VP Exploration and Development. \"Our team believes strongly in a future of mining for Chinchillas and we are now engaged in a new exploration program to increase resources throughout the property and move the project another step towards feasibility.\" \n\n \n \nGolden Arrow has a Phase III, 6,000 metre diamond drilling program scheduled to commence at Chinchillas on February 15th, 2014 (see original news release dated January 17th, 2014.)\n\n \n \nPEA Highlights \n\n\n \nThe NI 43-101 Technical Report titled \"Preliminary Economic Assessment for the Chinchillas Silver-Lead-Zinc Project Jujuy Province, Argentina\" is filed on SEDAR dated January 20th, 2014. Highlights of the economic assessment include:\n\n\n \n-Open-pit mining scenario with a processing design of 6,000 tonnes per day at a 2.2:1 strip ratio, and 12 year mine life\n\n\n \n-After-tax net present value (\"NPV\") of $98.5 million at 8% discount rate \n\n\n \n-Internal rate of return (\"IRR\") of 17.5%\n\n\n \n-Payback period of 3.8 years\n\n\n \n-Pre-production capital costs of $202 million, including a 25% contingency\n\n\n \n-Cash operating costs of $10.96 per ounce of silver, without lead and zinc credits\n\n\n \n-Average annual silver production of 5.4 million ounces\n\n \n \nAll values are quoted in US dollars, using base case metal prices of $22 per ounce of silver, $1.00 per pound of lead, $1.00 per pound of zinc. The project demonstrates positive economics at a range of silver price scenarios:\n...

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