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Golden Arrow Reports Final Chinchillas Phase VI Drill Results; Expands Mineralization to the East
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 3, 2016) - Golden Arrow Resources Corporation (TSX VENTURE:GRG)(FRANKFURT:GAC)(OTCQB:GARWF)(WKN:A0B6XQ) ("Golde
About this update from Golden Arrow Resources Corp.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 3, 2016) - Golden Arrow Resources Corporation (TSX VENTURE:GRG)(FRANKFURT:GAC)(OTCQB:GARWF)(WKN:A0B6XQ) (\"Golden Arrow\") is pleased to announce the results of assaying of the final twelve drill holes in the Phase VI drilling program at its Chinchillas Silver Project in Jujuy Province, Argentina. The drilling program is part of the Chinchillas Project pre-development activities, funded by Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) (\"Silver Standard\"), which are being undertaken to evaluate the feasibility of creating a combined mining business with Silver Standard's Pirquitas mine, as announced October 1st, 2015. The objective of the drill program is exploration for resource potential as well as condemnation of certain areas for potential future mine infrastructure. Drill targets included the Chinchillas South area where seven previous drill holes had returned significant zinc and silver intervals up to 1.5 kilometres away from the main Chinchillas deposit. \"We are pleased with the results of the Phase six program, which met all of its objectives. It is particularly gratifying to see that even as we work to complete pre-feasibility studies for the development of the main deposit, we have already delineated three areas with the potential to add resources to the project in the future,\" commented Brian McEwen, Golden Arrow's VP Exploration and Development. Selected highlights from these drill holes include: 118 g/t silver and 1.2% lead and 1.1% zinc over 10 metres in CGA-323 146 g/t silver and 4.0% lead and 2.4% zinc over 3 metres in CGA-324 115 g/t silver and 3.1% lead and 3.5% zinc over 3 metres in CGA-326 167 g/t silver and 2.0 % Pb and 1.5% Zn over 18 metres in CGA-327, including 313 g/t silver and 2.6 % Pb and 1.2 % Zn over 6 metres The drilling of Phase VI holes is now complete, with a total of 7,188 metres over 34 holes including seven short reverse circulation holes and one hole redrilled for a water well. Chinchillas Geology The Chinchillas deposit is a volcanic vent system in which explosive volcanic activity produced diatreme breccias and tuffs in the upper part of the vent and brecciated the underlying Ordovician basement meta-sediments. Silver-lead-zinc mineralization in the tuff and tuff breccia units is disseminated within thick mantos (layers), and in ...