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Golden Arrow Resources Commences Exploration Program at Pescado Gold Project
VANCOUVER, British Columbia, Nov. 06, 2017 (GLOBE NEWSWIRE) -- Golden Arrow Resources Corporation (TSX-V:GRG) (FSE:GAC) (OTCQB:GARWF), “Golden Arrow” or the “Co
About this update from Golden Arrow Resources Corp.
[{"type":"text","content":"VANCOUVER, British Columbia, Nov. 06, 2017 (GLOBE NEWSWIRE) -- Golden Arrow Resources Corporation (TSX-V:GRG) (FSE:GAC) (OTCQB:GARWF), “Golden Arrow” or the “Company”) is pleased to announce the initiation of a US$1M exploration program at its 100% owned Pescado Gold Project (“Pescado” or “the Project) in San Juan province, Argentina. San Juan hosts several world-class mines and deposits, including the Gualcamayo gold mine which is situated approximately 10 kilometres to the north of Pescado. Golden Arrow’s management were involved in the discovery of the Gualcamayo gold deposit. The Project has two principal gold target areas where large intrusive bodies intersect with major regional faults. Previous work identified high grade gold mineralization in these areas, including 17.6 g/t gold in outcrop samples1. The exploration program will include additional geophysics and surface work to refine drill targets, with up to 1,800 metres of drilling budgeted. Work permits have been granted by the provincial mining authorities, and the technical team is now commencing exploration at the Yanso target area. “The Pescado Project has the attributes needed for making a significant discovery, including proximity to existing deposits, size, accessibility, and known mineralization in a positive geologic setting,” commented Brian McEwen, Golden Arrow’s Vice President of Exploration and Development. “We look forward to advancing our knowledge of the property and bringing it to a drilling stage.” About the Pescado Project The 19,784 hectare Pescado Project is 100% owned by Golden Arrow. Pescado is situated in the Pre-Cordillera region, at elevations ranging from 1500 metres to 2500 metres above sea level. Gold mineralization at the Project is hosted by structural zones within Tertiary intrusive bodies in close proximity to Paleozoic sediments. Detailed airborne magnetic surveys have identified two large intrusive bodies at the intersections of major regional faults within the Project boundaries. Strong gold geochemical anomalies coincident with the magnetic anomalies characterize the Yanso and Pescado targets. Outcrop sampling returned up to 17.6 g/t gold at Pescado and at Yanso, chip channel sampling returned 38 metres averaging 0.58 g/t gold. The property is road accessible and exploration can be c...