Golden Arrow Signs 6500m Drilling Contract for Chinchillas Silver Project and Provides Update on Royalty Sale

About this update from Golden Arrow Resources Corp.

[{"type":"text","content":"\nGolden Arrow Signs 6500m Drilling Contract for Chinchillas Silver Project and Provides Update on Royalty Sale\n\n(via Thenewswire.ca)\n \n \nGolden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), \"Golden Arrow\" or the \"Company\") is pleased to announce it has signed a drill contract with Energold Argentina S.A. to complete a minimum 6,500 m diamond drilling program on its Chinchillas silver project located in Jujuy Province, Argentina. Of the total 41 drill holes completed at Chinchillas to date, 37 holes cut potentially economic mineralized intercepts near surface, including multiple high grade drill holes at the Silver Mantos target. \n\n \n \nSilver Mantos Highlights Include:\n\n \n \nCGA-35 29m at 685 g/t AgEQ* including 6m at 1918 g/t AgEQ*\n\n\n \nCGA-3822m at 630 g/t AgEQ* including 10m at 1318 g/t AgEQ*\n\n\n \nCGA-3929m at 553 g/t AgEQ* including 7m at 1498 g/t AgEQ*\n\n\n \nA full summary of Chinchillas drill highlights can be viewed at (http://www.goldenarrowresources.com/i/pdf/Chinchillas-Drill-Results-120723.pdf).\n\n \n \n* Silver Equivalents (AgEQ) were calculated using US$28/oz. for silver, US$0.85/lb. for lead and US$0.85/lb. for zinc. Metallurgical recoveries and net smelter returns for the purpose of this calculation are assumed to be 100%.\n\n \n \nDrilling Plan:\n\n\n \nGolden Arrow plans to start its 6,500 m Phase II drill program in November. The program is designed to define a NI43 -101 compliant silver-lead-zinc resource. Drilling will include infill and expansion holes as well as the targeting of new areas\n\n \n \nTargets Summary:\n\n\n \nThe Silver Mantos target covers a minimum area of roughly 6 ha (300 m x 300 m) defined by 16 mineralized drill holes. Drill centers range from 50 m to 100 m apart. Mineralization is disseminated mainly in two near surface (to 90 m depth), flat lying manto layers, individually ranging from 2 to 48 m thick, within strongly clay altered volcanic tuffs and breccias. A high grade corridor at Silver Mantos has been defined by drill holes CGA-35, CGA-38 and CGA-39, highlighted above. The mineralization at Silver Mantos is open to expansion in all directions.\n\n \n \nDrill holes completed on the margins of the volcanic basin indicate the potential to greatly expand the Silver Mantos area. CGA-32, located 160 m west of Silver Mantos, intersected four min...

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