Golden Arrow Resources Corporation (CVE:GRG) (OTCMKTS:GARWF) revealed it is closer to identifying strong drill targets at its Flecha de Oro gold project in Argentina as it posted the latest positive exploration findings.
The project comprises the Esperanza and Puzzle properties, where Golden Arrow is carrying out extensive mapping, sampling, and ground magnetic surveying.
Follow-up trenching planned in the next three months.
At Esperanza, sampling in January this year, showed four chip samples ranging from 0.15 metres (m) to 0.70 m which returned 18, 5.05, 4.12 and 4.10 grams per ton (g/t) gold, the firm said, while visible gold was seen in the vein sample, which threw up the assay of 18 g/t of the precious metal.
Meanwhile, at Puzzle, a previously identified a 2.3-kilometre-long and more than 150-metre-wide magnetic low anomaly has been extended, via surveying, in both directions.
The anomaly now has an overall length of 6.5 km and remains open in both directions, the firm said.
"We are pleased with the progression of exploration at the Flecha de Oro project," said Brian McEwen, Golden Arrow's vice-president (VP) of exploration and development, in Monday's statement.
"Systematic exploration at both properties continues to provide excellent results that bring us closer to delineating strong drill targets."
An exploration model
The company is using the Cerro Vanguardia district as an exploration model for the Esperanza property. The former lies in the Santa Cruz province in southern Argentina and has a total exposed vein strike extent of more than 240 km. The area has produced over 4.5 million ounces of gold over the last 20 years.
The Flecha de Oro gold project lies in Rio Negro Province, Argentina. Its Puzzle property spans 1,952 hectares, while Esperanza covers 9,968 hectares and lies in an area that is prospective for large epithermal precious metal deposits.
Following initial results at Esperanza, applications have been made for two additional concessions around the initial Esperanza property totaling over 14,500 hectares.
In addition, applications have been made for two additional concessions totaling over 2,500 hectares around the Puzzle property.
Contact the author at [email protected]