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Golden Arrow Resources Expands into Chile with Agreement to Acquire the Atlantida Copper-Gold Project
VANCOUVER, British Columbia, Oct. 11, 2018 (GLOBE NEWSWIRE) -- Golden Arrow Resources Corporation (TSX-V: GRG, FSE: G6A, OTCQB: GARWF), “Golden Arrow” or the “C
About this update from Golden Arrow Resources Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Oct. 11, 2018 (GLOBE NEWSWIRE) -- Golden Arrow Resources Corporation (TSX-V: GRG, FSE: G6A, OTCQB: GARWF), “Golden Arrow” or the “Company”, is pleased to announce that it has signed Definitive Agreements to acquire the 3,450 hectare Atlantida Copper-Gold Project (“Atlantida” or the “Project”) in Chile’s 3rd Region. Atlantida is an advanced project which combines mineral rights from two separate owners and includes an extensively drilled copper-gold deposit with an historic resource estimate. By consolidating the land package, Golden Arrow believes there is potential to identify new mineralization and define a significant copper-gold resource. Previous exploration at Atlantida resulted in an historic resource estimate of 427 million tonnes averaging 0.43% copper equivalent (see Table 1; A Qualified Person has not done sufficient work to classify this estimate a current mineral resource, and Golden Arrow is not treating this as a current mineral resource estimate). The resource includes a deep porphyry copper-gold target and a near-surface skarn with higher gold grades which together cover an area of approximately 225 hectares. Situated within the consolidated Atlantida property, this skarn zone is located on the western edge of the claim hosting the historic resource, and extends onto an adjacent claim (now under option by Golden Arrow) that has historic workings but has had limited modern exploration. Golden Arrow’s due diligence surface rock samples in this area returned up to 3.7 g/t gold and 1.98% copper, providing an excellent target for new mineral resources. In addition, based on the preliminary due diligence review, Golden Arrow believes the Project is prospective for discovery of similar targets elsewhere within the consolidated Atlantida properties. “Expansion into this area of Chile that is host to multiple world-class copper and gold deposits broadens our opportunities to acquire advanced projects like Atlantida, in order to potentially quickly build resources and value for our shareholders,” commented Joseph Grosso, Executive Chairman, CEO & President. “Golden Arrow has built an excellent portfolio of precious and base metal assets in Argentina which we continue to explore.” Golden Arrow has completed legal and technical due diligence on the Project. The Compa...