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Golden Arrow Reports Substantial Increase in Resources Following Recent 9,000 m Drill Program at the Chinchillas Silver Project
(via Thenewswire.ca) Vancouver, BC / TNW-ACCESSWIRE / August 2...
About this update from Golden Arrow Resources Corp.
[{"type":"text","content":"Golden Arrow Reports Substantial Increase in Resources Following Recent 9,000 m Drill Program at the Chinchillas Silver Project(via Thenewswire.ca)\n \n \nVancouver, BC / TNW-ACCESSWIRE / August 29, 2014 / Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), \"Golden Arrow\" or the \"Company\") is pleased to announce an updated NI 43-101 compliant resource estimate for the Chinchillas silver-lead-zinc project in Jujuy, Argentina. This updated resource incorporates additional drill results from the recently completed 37 hole 9,000 metre core drilling program.\n\n \n \nHighlights of the Resource Estimate\n\n \n \n\n\n-Indicated Resources of 95.9 million ounces silver equivalent (Ag Eq) at 121.1g/t Ag Eq grade (24.6 million tonnes grading 91.3 g/t silver, 0.65% lead and 0.31% zinc at a 40g/t Ag Eq cut-off) \n\n\n\n\n\n-Represents nearly a three-fold increase in indicated resources\n\n\n\n\n\n\n \n\n\n-Inferred Resource of 68.7 million ounces Ag Eq at 97.1 g/t Ag Eq grade (22.0 million tonnes grading 56.9 g/t Ag, 0.61% Pb and 0.68% Zn at a 40g/t Ag Eq cut-off). \n\n\n\n\n \n\n\n-Deposit still remains open to expansion\n\n\n\n-New resources expected to positively impact the updated Preliminary Economic Assessment, underway\n\n\n\n \n \n\"With an approximate 60% increase in resources, Chinchillas is proving to be a deposit of significant size, and we believe it has a future as an important mining project,\" stated Brian McEwen, VP Exploration and Development. \"The upcoming PEA will benefit from this increased resource and give us a better understanding of the mining potential. Furthermore, the deposit remains open in most directions and I am confident that our feasibility drill program will continue to expand the resource base.\"\n\n \n \nA NI 43-101 Technical Report supporting disclosure of this mineral resource will be filed by Golden Arrow on SEDAR within 45 days of this press release. In addition, Golden Arrow is now working to update the Preliminary Economic Assessment (PEA) for the Chinchillas Project based on the new resources. This study is expected to be completed in the next sixty days and a corresponding NI 43-101 Technical Report including that information will then be filed by the end of the year. \n\n \n \nManagement is confident that the updated PEA will outline a compelling economic scenario to move...