Transaction To Form Joint Venture For Chinchillas Project

 

VANCOUVER, BC - Golden Arrow Resources Corporation has completed the transaction with Silver Standard Resources Inc. and formed a joint venture called Puna Operations Inc. which combines the Chinchillas project with the producing Pirquitas operation. The joint venture is owned on a 75% / 25% basis by Silver Standard and Golden Arrow, respectively. Silver Standard will be the operator.

“This is of great significance that the formation of Puna Operations Inc. has for Golden Arrow," stated Joseph Grosso, Executive Chairman, President and CEO of Golden Arrow. "We are looking forward to play any role that best supports our partnership in the merged assets."

Based on and subject to the permitting process, construction at Chinchillas is anticipated to begin during the third quarter of 2017 with ore delivery to the Pirquitas mill expected in the second half of 2018. The permitting process continues to advance with positive support from the local communities and government authorities. The Chinchillas Environmental and Social Impact Assessment has been prepared and submitted to the Argentine regulatory authorities, and is in the consultation process. Work is in progress with local communities on social programs and understanding of the Chinchillas project as it advances to production.