Exploration Program Commences At The Pescado Gold Project

 

VANCOUVER, BC - Golden Arrow Resources Corporation reported the initiation of a US$1M exploration program at its 100% owned Pescado Gold Project in San Juan province, Argentina.   San Juan hosts several world-class mines and deposits, including the Gualcamayo gold mine which is situated approximately 10 kilometers to the north of Pescado.  Golden Arrow’s management were involved in the discovery of the Gualcamayo gold deposit.

The Project has two principal gold target areas where large intrusive bodies intersect with major regional faults.  Previous work identified high grade gold mineralization in these areas, including 17.6 g/t gold in outcrop samples1. The exploration program will include additional geophysics and surface work to refine drill targets, with up to 1,800 meters of drilling budgeted.  Work permits have been granted by the provincial mining authorities, and the technical team is now commencing exploration at the Yanso target area.

“The Pescado Project has the attributes needed for making a significant discovery, including proximity to existing deposits, size, accessibility, and known mineralization in a positive geologic setting,” commented Brian McEwen, Vice President of Exploration and Development. “We look forward to advancing our knowledge of the property and bringing it to a drilling stage.” 

The 19,784 hectare Pescado Project is 100% owned by Golden Arrow. Pescado is situated in the Pre-Cordillera region, at elevations ranging from 1500 meters to 2500 meters above sea level.  Gold mineralization at the Project is hosted by structural zones within Tertiary intrusive bodies in close proximity to Paleozoic sediments. Detailed airborne magnetic surveys have identified two large intrusive bodies at the intersections of major regional faults within the Project boundaries. Strong gold geochemical anomalies coincident with the magnetic anomalies characterize the Yanso and Pescado targets. Outcrop sampling returned up to 17.6 g/t gold at Pescado and at Yanso, chip channel sampling returned 38 meters averaging 0.58 g/t gold. The property is road accessible and exploration can be conducted year round.