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Golden Arrow Resources (GRG.V) Corporation: Corporate Update

Discussion in 'Stock Market News & Analysis' started by mickymoose99, Apr 16, 2013.

  1. mickymoose99

    mickymoose99 Member

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    Golden Arrow Resources (GRG.V) Corporation: Corporate Update

    NEWS RELEASE - April 16, 2013

    Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), "Golden Arrow" or the "Company") announces that the Company will loan to Mr. Carlos Fernandez Mazzi, President and CEO, sufficient funds for Mr. Fernandez to purchase 750,000 Units of Golden Arrow, pursuant to a private placement, at the price of $0.30 per Unit. Each Unit will consist of one common share of Golden Arrow and one non-transferable share purchase warrant. Each whole warrant will entitle Mr. Fernandez to purchase one additional common share of Golden Arrow for a period of 24 months at the price of $0.37 per common share. The loan will be non-interest bearing unless there is a default in repayment, and will be secured by a first priority charge and security interest over the Units acquired by Mr. Fernandez. This loan and private placement are subject to acceptance for filing by the TSX Venture Exchange. The Company's recent share buy-back of 13,440,000 shares has reduced the outstanding number of shares and limited the stock option pool available to serve as a long-term incentive. As the Company's healthy treasury precludes any financings at this time, this transaction has been structured primarily for this purpose. Golden Arrow also announces that it has retained Zoppa Media Group to act as an investor relations consultant to the Company, to assist with corporate finance and investor relations programs. Zoppa Media Group has been engaged for a term of one year at a monthly fee of $4,000. Except for the investor relations services agreement, Zoppa Media does not have any interest, directly or indirectly, in the Company or its securities. Zoppa Media's appointment as an investor relations consultant to Golden Arrow is subject to regulatory acceptance of applicable filings with the TSX Venture Exchange. About Golden Arrow:

    Golden Arrow is a Vancouver-based explorer and prospect generator focused on identifying, acquiring and advancing precious and base metal projects in Argentina with the goal of achieving a world class discovery. The core focus will be on advancing its flagship Chinchillas Silver Project located in Jujuy, Argentina. Golden Arrow has a strong treasury which will allow the Company to drill its Chinchillas Silver Project over the coming months with the aim of publishing the first NI 43-101 resource calculation on Chinchillas in the first half of 2013. Golden Arrow will continue to execute its strategy to leverage the Company's exploration exposure by attracting partners to fund work on its other high quality mineral projects. Golden Arrow is a member of Grosso Group, a management company specialized in resource exploration, and working in Argentina where it is highly regarded and trusted since 1993. ON BEHALF OF THE BOARD

    "Joseph Grosso
     
  2. mickymoose99

    mickymoose99 Member

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    Preliminary Metallurgical Testing at Golden Arrow's (GRG.V) Chinchillas Project Repor

    Preliminary Metallurgical Testing at Golden Arrow's (GRG.V) Chinchillas Project Reports 98.7% Recovery of Silver

    Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), "Golden Arrow" or the "Company") is pleased to announce the results of the preliminary bench-scale metallurgical test program on representative samples from the Chinchillas silver-zinc-lead project in Argentina. Conclusions from the metallurgical report include: "The samples responded very well to sulphide flotation, with silver recoveries averaging 98.7%, accompanied by very high lead and zinc recoveries."

    "We are very pleased that this initial program indicates that we can expect excellent recoveries of silver and base metals using conventional flotation methods with standard reagents. These results, together with our upcoming resource estimate, will aid in evaluating the economics and viability of mineral production at Chinchillas." stated Brian McEwen, VP Exploration and Development.

    Metallurgical Program

    The test work was completed by Inspectorate Exploration & Mining Services Ltd. ("Inspectorate") of Richmond, B.C Canada under the direction of the Company's consulting metallurgist, Mr. John Fox. Three samples of approximately 50kg each were shipped to Inspectorate. The samples included representative composite samples of drill core from the Silver Mantos and Socavon del Diablo zones, as well as the mineralized basement, described in previous news releases as "Pirquitas-style".

    Initially, a rougher flotation test was done at three different grind levels and sampled in four stages. The Chinchillas samples responded very well to flotation and were found not to be sensitive to grind size. Maximum rougher silver recoveries were 99.8, 97.0 and 99.3% in the Basement, Socavon and Silver Mantos composites, respectively. The lead recoveries were also very high, at between 96.5 and 98.1% for all rougher tests, while zinc recoveries were generally lower, between 66.0% and 96.1%. Following the rougher tests, cleaner flotation testing returned silver grades from 554 g/t in the zinc-rich Socavon composite to 11,268 g/t in the Silver Mantos composite, with silver recoveries for all three in the range of 89-92%.

    Metallurgical test work will continue, in particular to optimize the flowsheet to produce a separate high-grade silver-bearing lead concentrate and a zinc concentrate.

    Qualified Person

    The technical information contained in this release has been prepared under the supervision of and reviewed by Mr. John R. W. Fox, B.Sc., P.Eng. of Laurion Inc., independent consultant to the Company and a Qualified Person as defined in National Instrument 43-101. Mr. Fox is a metallurgical engineer with 40 years experience in the design, start-up and operation of mine metallurgical process plants. The contents of this release have been reviewed and approved Mr. Brian McEwen, P.Geol., VP Exploration and Development of the Company and a Qualified Person as defined in National Instrument 43-101
     
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    Golden Arrow (GRG.V) Reports First NI 43-101 Resource Estimate at Chinchillas Silver-

    Golden Arrow (GRG.V) Reports First NI 43-101 Resource Estimate at Chinchillas Silver-Lead-Zinc Project


    (via Thenewswire.ca)

    Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), "Golden Arrow" or the "Company) is pleased to announce its initial independent NI 43-101 complaint resource estimate for the Chinchillas silver-lead-zinc project in Jujuy, Argentina. The resource estimate includes 7.2 million tonnes grading 119 g/t silver, 0.57% lead and 0.48% zinc (32.6 million ounces silver equivalent (Ag Eq) at 141 g/t Ag Eq, and a 50g/t Ag Eq cut-off) in the indicated category, and a further 21 million tonnes grading 78 g/t Ag, 0.69% Pb and 0.62% Zn (72.2 million ounces Ag Eq at 107 g/t Ag Eq grade and 50 g/t Ag Eq cut-off) in the inferred category. (Refer to Tables 1 and 2 below for details.)

    "The Company is thrilled to have completed its first NI 43-101 resource estimate of more than 100 million ounces of silver equivalent combined in indicated and inferred categories. Given that the deposit appears to be open in all directions, the Company is confident that the potential for the estimate to increase is high with the completion of the Phase 3 drill program planned for the third quarter of this year. The favorable geometry of the deposit for open pit mining, combined with our recently completed metallurgical test program, and good infrastructure should allow us to advance this to a preliminary economic evaluation quickly as we expand the resource estimate." stated Brian McEwen, VP Exploration and Development.

    Exploration Program

    The preliminary metallurgical report on samples from Chinchillas concluded, "The samples responded very well to sulphide flotation, with silver recoveries averaging 98.7%, accompanied by very high lead and zinc recoveries." (Please refer to the original news release dated May 6th, 2013).

    Metallurgical test work is continuing to optimize the flow sheet with the goal of producing a separate high-grade silver-bearing lead concentrate and a zinc concentrate.

    In addition, Golden Arrow is planning a third drill campaign at Chinchillas. This program will include both infill drilling to upgrade the existing resource categories, and exploration drilling to identify new resources. The existing zones appear to be open in all directions and at depth. High priority exploration targets include the north slope, where step-out holes identified strong mineralization as much as 200 metres north of the existing zones, and the source of the newly identified "Pirquitas-style" mineralization in the Basement zone.

    Resource Model

    Silver-lead-zinc mineralization included within the resource model occurs in two main areas at Chinchillas: the Silver Mantos and Socavon del Diablo Zones. The Silver Mantos zone is further sub-divided into three units based on host rock and geometry; Silver Mantos, Mantos Contact, and Mantos Basement zones.
     
  4. mickymoose99

    mickymoose99 Member

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    Golden Arrow (GRG.V) Triples Size of Chinchillas Silver Project

    Golden Arrow (GRG.V) Triples Size of Chinchillas Silver Project


    Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), "Golden Arrow" or the "Company") is pleased to announce the granting of additional concessions that surround the Chinchillas Project, effectively, tripling the area of the entire property to 1,160 hectares. The mining authority has granted the concessions as well as the drill permit for the newly acquired area.

    The mineralization delineated at the Chinchilla silver project is open in all of these directions and the potential to expand the current resource is high. To date the silver resource is 32.6 million ounces Ag Eq indicated and 72.2 million ounces Ag Eq inferred*.This additional ground will be the focus of the next phase of exploration, with surface mapping, geochem sampling and geophysics all planned. The Phase III drill program will incorporate additional drill targets. The objective of The Phase III drill program is to increase the size of the recently released Indicated and Inferred silver-lead-zinc resource (see news release dated May 9th, 2013).

    In addition, Golden Arrow is undertaking an internal economic analysis of the Chinchillas Project to determine whether to complete a Preliminary Economic Assessment prior to, or after, completing the drill program. The internal review is being coordinated by independent consultant Ken Kuchling, a mining engineer specializing in economic reviews.

    Golden Arrow has also engaged the services of Knight Piesold Ltd. (KPL) of Vancouver to commence engineering studies for the Chinchillas Project. The work will include a preliminary mine development plan as well as the commencement of environmental and social baseline studies. KPL is an international consulting company providing engineering and environmental services for the mining, power, water, transportation and construction sectors. KPL has offices in Mendoza, and has provided engineering services for several prominent mining projects in Argentina, including the Pirquitas, Alumbrera and Gualcamayo.

    Concurrent with the engineering studies, Golden Arrow is continuing its metallurgical testing program with Inspectorate Exploration & Mining Services Ltd. Initial flotation results were very positive for the recovery of silver, lead and zinc (see news release dated May 6th, 2013). The Company is now engaged in optimizing the flow sheet with the goal of producing a separate high-grade silver-bearing lead concentrate and a zinc concentrate.

    The Project webpage has links to the Technical Report, as well as interactive three dimensional models and sections of the deposit, provided by Corebox(R).

    http://www.goldenarrowresources.com/s/Chinchillas.asp.

    With respect to the Company`s Mogote Project in San Juan Province, the Company discloses that pursuant to the Investment, Exploration and Option Agreement (the "Agreement") dated September 2, 2010 between the Company and Vale Exploracion Argentina S.A., Vale provided notice of its decision to terminate the Agreement effective thirty (30) consecutive days from the notice date of July 5, 2013. Golden Arrow`s management wish to thank Vale`s technical team for their outstanding professionalism during the term of the joint venture and the Company will remain in contact with Vale to discuss possible future endeavours.

    Qualified Persons:

    The contents of the news release has been reviewed and approved by Brian McEwen, P.Geol., VP Exploration and Development and a Qualified Person as defined in National Instrument 43-101.

    *The Chinchillas silver project has an Indicated resource 7.2 Mt @ 119 g/t Ag, 0.57% Pb, o.48% Zn, Inferred resource of 21 Mt @ 78 g/t Ag, 0.69% Pb, 0.62% Zn.
     
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