viewGolden Arrow Resources Corp

Golden Arrow pleased with progress at new Chinchillas silver mine in Argentina

Shares of Golden Arrow were up in the US as operating partner SSR Mining released production figures from Chinchillas

man holding silver nugget
The silver mine began commercial production in December 2018

Golden Arrow Resources Corp (CVE:GRG) (OTCMKTS:GARWF) reported that its joint venture with SSR Mining in Argentina is producing high grades of silver from the new Chinchillas mine.

Shares of Golden Arrow were up more than 4% in the US to US$0.22, while in Canada shares were trading at C$0.30 on Thursday.

The silver mine, which just went into commercial production in December 2018, produced 2.4 million ounces of silver in the first quarter of 2019.

READ: Golden Arrow announces closing of private placement’s second tranche

Chinchillas also produced 6.8 million pounds of lead and 1.6 million pounds of zinc during the first quarter.

Silver grades from the mine were high, averaging around 235 grams per ton of the precious metal, with recoveries quoted at around 92%.

"In the first quarter of the year material from the Chinchillas mine returned excellent grades of silver and achieved remarkable processing recoveries, and we now look forward to achieving steady-state production," said Joseph Grosso, Golden Arrow’s chairman and CEO, in a statement.

Golden Arrow discovered the Chinchilla project seven years ago and delineated it between 2012 and 2015. It is now owned by Puna Operations Inc, which is a joint venture between operator SSR and the firm. Golden Arrow holds 25%, while SSR has the remainder.

The combination of the firm's Chinchillas project with the then Silver Standard Resources Inc's Pirquitas mine just down the road officially got the go-ahead in March 2017.

SSR Mining noted in a release that ramp up at Chinchillas was substantially completed during the first quarter 2019, as commercial production was achieved on December 1, 2018.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: Golden Arrow Resources Corp

Price: 0.175 CAD

Market: TSX-V
Market Cap: $20.86 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Golden Arrow Resources Corp named herein, including the promotion by the Company of Golden Arrow Resources Corp in any Content on the Site, the...


Golden Arrow provide exploration update including drilling at Tierra Dorada...

Golden Arrow (CVE: GRG-OTCQB: GARWF) Vice President of Exploration Brian McEwen joined Steve Darling from Proactive to provide investors with an update on their exploration work at 2 of their projects. McEwen telling Proactive they have begun work on their Rosales Project in Chile and they...

1 week, 4 days ago

2 min read