Sign up Australia
Proactive Investors - Run By Investors For Investors

Golden Arrow Resources pleased as Chinchillas ramps up to full production

In the three months, Puna produced 700,000 ounces of silver and more than doubled zinc production to 3.2 million pounds
Golden Arrow Resources pleased as Chinchillas ramps up to full production
The Chinchillas operation is in Argentina

Golden Arrow Resources Corp (CVE:GRG) said its Puna joint venture is making good progress, as the Chinchillas silver-zinc-lead deposit in Argentina continues to ramp up.

Puna, a joint venture that combines the Chinchillas project with SSR's producing Pirquitas operation in Argentina, was formed in May last year. Golden arrow owns 25%  of the venture.

READ: Golden Arrow broadens reach to Chile, signs agreement to acquire copper-gold project

In the third quarter, Puna produced 700,000 ounces of silver, more than doubled zinc production to 3.2 million pounds and successfully test-processed Chinchillas ore, Golden Arrow said in today's statement.

"Prestripping activities at the Chinchillas site continued to advance during the quarter," the company added.

"Approximately 2.1 million tonnes of waste and 0.3 million tonnes of ore were mined, with ore grades reconciling well to the geological model.

"Approximately 73,000 tonnes of ore from the Chinchillas pit were delivered to the Pirquitas site, of which approximately 39,000 tonnes were processed in two separate test runs as part of the project execution.

"The tests successfully validated metallurgical performance of the ore and produced saleable lead-silver and zinc concentrates."

It's been a busy week for the group.

Yesterday, the company told investors it was expanding its footprint into Chile with an agreement to acquire the 3,450 hectare Atlantida copper-gold project.

"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," the firm said.

"By consolidating the land package, Golden Arrow believes there is potential to identify new mineralization and define a significant copper-gold resource."

The Atlantida project consists of two separate land packages that Golden Arrow has consolidated into a single project, through signing two agreements.

Golden Arrow shares eased 3.29% in Toronto to $0.285.

View full GRG profile View Profile

Golden Arrow Resources Corp. Timeline

Related Articles

April 11 2018
The group kicked off, in January, a 15,000m winter drill program at Rajapalot
Electric cars charging
August 31 2018
ABM is also actively evaluating additional projects which it believes have potential to significantly advance the company's stated strategy of focusing on battery materials
Managing director Alex Molyneux
September 21 2018
The base metals-focused company was joined by new managing director Alex Molyneux on September 1.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use