Golden Arrow is a silver producer with over 200,000 hectares of properties in Argentina
Golden Arrow Resources Corporation (TSXV: GRG | OTCQB: GARWF) is a Vancouver-based explorer with a history of success in identifying, acquiring and advancing precious and base metal discoveries. The Company’s goal is to define world class deposits and advance them into exceptional projects. Golden Arrow is actively exploring on their more than 200,000 hectares of properties in Argentina. The Company is a member of The Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993. Other members of this group include Argentina Lithium and Energy Corp. and Blue Sky Uranium Corp.
Mr. Joseph Grosso, Executive Chairman, President and CEO stated in a recent interview: “Argentina’s government now is more conservative and business friendly. Most of them are graduates of universities in the United States and fully conversant with economics. They have selected mining as one of the leading industries to rebuild their country. They are very supportive. I believe being in Argentina is going to be a plus.” Golden Arrow considers Argentina to be an underexplored country with highly promising potential stemming from its direct border with some of the world’s most prolific mining areas. (Chile and Bolivia).
Puna Operations – Pirquitas mine and processing mill and Chinchillas silver project
Golden Arrow holds a 25% share of Puna Operations Inc., a joint venture company operated by SSR Mining (75%). The joint venture is producing silver concentrate from the Pirquitas operation and developing the nearby Chinchillas silver-lead-zinc project, which has more than 8 years of forecast production, and potential to extend on this. Chinchillas is currently under development, with 81 Moz AgEq. Reserves (P&P) and an 140 Moz AgEq Resource (M&I). Under the terms of the agreement with SSR Mining, Golden Arrow received a $17.8M payment from SSR Mining, when the joint venture was formed, meaning the project is fully funded to production. Production is expected to begin in August 2018.
Pirquitas highlights for 2017 included 6.177 Moz silver produced, and 6 Moz silver sold at an average of $17.10/oz. During the year, ore was milled at an average rate of 4,927 tonnes per day. Stockpile ore milled contained an average silver grade of 152 g/t, higher than planned. The average silver recovery of 70.3% was lower than the previous year due to planned lower silver mill feed grade. Cash costs of $13.07/oz silver. Golden Arrow’s 25% Puna Operations share is equivalent to having a right to an average of 2.1 Moz. silver equivalent per year over the 8 year life of the mine.
Golden Arrow’s 100% owned New Golden Explorations Inc.