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Golden Arrow Purchases the San Pietro Iron-oxide Copper Gold Project, Chile
Golden Arrow Purchases the San Pietro Iron-oxide Copper Gold Project, Chile Can...
About this update from Golden Arrow Resources Corp.
[{"type":"text","content":"\n \n \n \n Golden Arrow Purchases the San Pietro Iron-oxide Copper Gold Project, Chile\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n TSX Venture Exchange (TSX-V):\n \n GRG\n \n \n Frankfurt Stock Exchange (FSE):\n \n G6A\n \n \n OTCQB Venture Market (OTCQB):\n \n GARWF\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 17, 2022\n \n \n /CNW/ -\n \n Golden Arrow Resources Corporation\n \n (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF),\n \n (\"Golden Arrow\"\n \n or the\n \n \"Company\")\n \n is pleased to announce that it has, through its wholly owned subsidiary New Golden Explorations Chile SPA, purchased a 100% interest in the San Pietro Iron-oxide Copper Gold (\"\n \n IOCG\n \n \") Project (the \"\n \n San Pietro Project\n \n \" or the \"\n \n Project\n \n \") (formerly known as Radiss) in\n \n Chile\n \n from Sumitomo Metal Mining Chile Ltda (\"\n \n SMM Chile\n \n \") for cash consideration of\n \n US$3.35M\n \n .\n \n \n \n \"With this acquisition\n \n Golden Arrow\n \n has secured full control of a project that exhibits an excellent value proposition, with near-term resource potential and multiple areas with exploration upside.  We accomplished this acquisition by taking advantage of the strong financial position that resulted from our last successful transaction.  In fact, using the leverage from Golden Arrows' SSR Mining Inc. shareholding from November when our proposal was accepted to closing, saw an increase of approximately\n \n $7.00\n \n / share from\n \n $19.00\n \n to\n \n $26.00\n \n which completely covered the purchase cost of the project, leaving us still with a strong cash position.  Now our technical team will try to do as they did with our Chinchillas Project in\n \n Argentina\n \n and advance a strategically located exploration project to pre-feasibility,\"\n \n commented\n \n Joseph Grosso\n \n ,\n \n Golden Arrow's\n \n Executive Chairman, President and CEO.\n \n \n \n Golden Arrow's\n \n Vice President, Exploration and Development,\n \n Brian McEwen\n \n , added,\n \n \"There is a...